There exists marketplace converse that Ivan has an fascination in the corporate Though his identify does not look as a shareholder or director and a person informed about V-Circle tells DNA that Ivan has no interest in the corporation.
In the written response handed to Ivan about the working day from the meeting, Hitachi expressed grave issue above the lack of communications and transparency by Ivan and his Management workforce about the actual mother nature of the fiscal scenario of Fusionex.
The ecosystem leader goes on to mention, “The Petition is very harming to the administration staff that have a accountability to clarify on their own.
Hitachi's Innovative electronic methods, providers, and technologies for turning knowledge into insights to drive digital innovation
KL20: Dr V Sivapalan on shifting the startup narrative, constructing enduring companies, and nation setting up
Dato’ Seri Ivan Teh has about 18 decades of encounter inside the ICT industry, and he has led teams in HP together with Accenture before founding Fusionex. He's usually invited to present talks, present his sights and share insights in discussion boards and situations globally.
Rather, While using the court by now appointing interim liquidators from Deloitte Restructuring Companies PLT on 27 Dec, agreeing with Hitachi’s argument that the dire problem Fusionex faces demands urgency, the concern is Fusionex will stop to exist, with the only real remnants getting its billboards within the Klang Valley, waiting around to generally be taken down also.
Because it was outlined on AIM, and excluding the global company tech players, Fusionex has developed into among the list of greater big data options vendors in Asia. Its clientele has also elevated greatly.
The winding up petition against the Fusionex Group of organizations remain pending ahead of the court docket and With all the Court Listening to the petition in May 2024.
“At among the list of periods, we recognised there have been a lot of complications across industries, where men and women were investing loads of money and still ready periods at stores, site banking companies, telcos and airlines were being lousy. A couple of of us said: ‘There have to be a greater strategy for performing this – it can’t be all that negative.
SME Malaysia national president Ding Hong Sing claimed digital transformation is more essential than previously which is an integral Portion of how SMEs can optimise their businesses and lead to The expansion of your country's economic system.
The senior administration departed the corporation abruptly, leaving Hitachi with out a official handover of administration and functions. This departure incorporated an absence of sharing information regarding the continuity of Fusionex's Procedure and business in the course of their exit.”
“Basically the company is winding down. There a lot of people who are nervous Together with the uncertainty. Provided their abilities as well as their profile, most would have no issue obtaining a task soon, that’s my guess,” reported the employee.
It remains to become noticed if Ivan will come out and protect himself and his name from the damaging contents of Hitachi’s petition. Any long run he hopes to acquire of however currently being a essential Portion of Malaysia’s tech ecosystem will depend on this.