“The preceding senior management departed the corporate straight away without any sort of handover on the administration and also the operations.
Although the dust just isn't about to choose this Tale as Ivan and his senior execs who remaining suddenly are hoping for. Not when the answer to Hitachi’s drastic winding up application is laid bare within the in-depth court docket submission.
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There's industry talk that Ivan has an desire in the company While his name doesn't seem to be a shareholder or director and someone aware of V-Circle tells DNA that Ivan has no interest in the corporate.
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A few days afterwards the inhouse lawful counsel for Fusionex showed Hitachi’s attorneys a copy of One more ‘government directive’ dated 27 Nov which purported to prohibit Fusionex from sharing any facts Together with the audit committee.
As of publishing of this text, Ivan has not responded to DNA queries to get his side on the Tale.
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But a clear photograph emerges with the unusually detailed winding up petition filed by Hitachi, considered by DNA, exactly where Hitachi chronologically lists a number of steps by Ivan and his Management team above a fifteen-thirty day period interval that is sweeping and breathtaking in scope, outlining flimsy excuses, non transparency and non-cooperation with Hitachi.
The Ivan in query is Ivan Teh, a very respected forty seven-12 months-outdated, comfortable spoken, polite entrepreneur with an intensive operate ethic who Started Fusionex in Malaysia in 2009 and grew it into among Southeast-Asia’s leading analytics and AI organizations.
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“The prior senior administration departed the company quickly with none type of handover on the administration and the functions.