The winding up petition against the Fusionex Group of companies are still pending before the court docket and with the Courtroom hearing the petition in May 2024.

Btw, this non-cooperation also bundled a senior secretary who refused to supply the new CEO, Hiroyuki Kumazaki, Using the cellular figures of every one of the senior leadership workforce and who to begin with refused to hand above her organization notebook to him. And when she did, it was located to have already been wiped clean (reformatted to erase all earlier details.)

I am concerned which the steps from the Fusiotech administration staff might have deeper repercussions for your ecosystem Particularly foreign investors and future acquirers of Malaysian startups.”

An executive through the company tells DNA, “We want to hold out for more clarity on what actually took place at Fusionex before you make any conclusions of assistance.”

Hitachi court docket petition to end up Fusionex, reveal grim image of alleged unethical and irresponsible conduct by Ivan Teh and his senior leadership

“Only then we will discover out the reason for the investigation. Everything at this point of your time is extremely speculative right until the investigation is entire.

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In the long run, as said by Hitachi in its winding up papers, Fusionex was “perhaps while in the zone of insolvency” and “not able to carry on carrying on its business enterprise in its present-day point out.”

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