The fusionex Diaries

The fusionex Diaries

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Within a penned reaction handed to Ivan around the day in the meeting, Hitachi expressed grave problem in excess of The shortage of communications and transparency by Ivan and his Management team in excess of the particular mother nature from the money condition of Fusionex.

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It really is a stunning fall, with no parallel in Malaysia’s tech historical past. More so, as Ivan could be the closest issue to currently being the golden boy for Malaysian tech, building a firm to contend inside the enterprise tech Room from world-wide tech players.

It remains to get viewed if Ivan will appear out and protect himself and his reputation towards the harmful contents of Hitachi’s petition. Any upcoming he hopes to own of however remaining a key Portion of Malaysia’s tech ecosystem will depend on this.

For Teh, the most crucial driver for these move is his belief that you can check here Fusionex is undervalued for years in the marketplace. 

But a transparent picture emerges within the unusually specific winding up petition submitted by Hitachi, viewed by DNA, where by Hitachi chronologically lists a number of actions by Ivan and his Management group over a 15-month time period which is sweeping and amazing in scope, outlining flimsy excuses, non transparency and non-cooperation with Hitachi.

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In 2017, Fusionex withdrew the listing of its shares from London Inventory Trade AIM being A non-public enterprise, under 5 years following its oversubscribed Preliminary general public featuring.

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and his group - whereby the corporate's shares fell significantly just after it declared that it desires to find shareholders’ approval to delist from the London Stock Trade AIM. 

Regardless of the expansion, the company's inventory has remained largely flattish in the last 15 months (with the exception of the the this link latest tumble).