In addition, all info regarding the continuity with the Fusionex functions and small business was not shared right before or handed around all through their departure,” stated the files.

"Of top rated of that, our essential aim will keep on being on 3 things – rewarding our deserving group associates; Doing work in the direction of consistently boosting our offerings and technologies to remain forward of your curve; get the job done in the direction of our quest to supply our customers with high-quality products and choices.

Hitachi positioned five of its executives as non-govt directors within the board with Ivan and his CFO, Chen Chiang as government administrators.

Hitachi’s legal professionals have been also not given a copy of the directive and were being only permitted to see it without having using any notes all through a meeting amongst The 2 sides in KL on 23 Nov.

“The preceding senior administration departed the company immediately without any kind of handover from the administration and the operations.

This started out a series of forwards and backwards among Ivan and Hitachi, outlined in its petition, in which Hitachi wished to exercising its legal legal rights as proprietors of Fusionex and with Ivan and his Management staff offering many reasons to obstruct this, Main of which was a purported ‘federal government directive’ that prevented Ivan from sharing delicate knowledge with foreign functions.

“Essentially the corporate is winding down. There lots of people who find themselves fearful With all the uncertainty. Specified their competencies as well as their profile, most would've no concern acquiring a career before long, that’s my guess,” stated the worker.

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This kind of was Hitachi’s self esteem in Ivan that it remaining him and his management staff fully accountable for jogging FusioTech Holdings, the new company set up put up its acquisition.

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From the surface level, it appears that evidently minority shareholders and key shareholders like Teh are the most important casulties.