The fusionex Diaries
The fusionex Diaries
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I am worried which the actions on the Fusiotech management workforce could have further repercussions for the ecosystem Primarily international traders and prospective acquirers of Malaysian startups.”
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“The earlier senior administration departed the business instantly with no form of handover of your administration plus the operations.
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In its place, Using the courtroom previously appointing interim liquidators from Deloitte Restructuring Companies PLT on 27 Dec, agreeing with Hitachi’s argument the dire condition Fusionex faces demands urgency, the fear is Fusionex will cease to exist, with the only remnants currently being its billboards throughout the Klang Valley, ready for being taken down also.
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But a clear photo emerges with the unusually thorough winding up petition filed by Hitachi, viewed by DNA, where Hitachi chronologically lists a number of steps by Ivan and his Management team more than a 15-month interval which is sweeping and breathtaking in scope, outlining flimsy excuses, non transparency and non-cooperation with Hitachi.
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They've long gone to court nonetheless it should experience a hearing ahead of nearly anything usually takes location. So I’m unsure once the Listening to is going to take place. All of this is finished by Hitachi’s attorneys.”