Several expressed shock and disbelief that not just Ivan, but members of his leadership group could behave in these kinds of an unprofessional, unethical and irresponsible method. “If This is certainly true, and I Actually locate it tough to imagine, then they have got opened themselves to authorized action from Hitachi and in many cases probable censure through the Qualified bodies They are really customers of,” explained just one tech ecosystem leader with a powerful corporate track record.
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It is thought that other ex-Fusionex executives have also been achieving out to vital government and personal sector clientele at the same time, assuring them of guidance while It's not necessarily apparent through which company.
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He went on to add, “It is absolutely nonsensical to condition that there's a so called authorities directive to withhold facts from international nationals Which this is applicable to foreigners who will be around the board. There isn't a such matter and it is merely an justification to withhold information and facts in the Board.”
But a transparent photo emerges through the unusually specific winding up petition submitted by Hitachi, viewed by DNA, the place Hitachi chronologically lists a number of actions by Ivan and his leadership workforce around a fifteen-thirty day period interval that is sweeping and spectacular in scope, outlining flimsy excuses, non transparency and non-cooperation with Hitachi.
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It is a surprising drop, without parallel in Malaysia’s tech heritage. Much more so, as Ivan is definitely the closest issue to staying the golden boy for Malaysian tech, creating a business to compete in the business tech Place from world-wide tech gamers.
The catalyst for the current circumstance commenced when Hitachi, as Component of its danger management and company governance where it conducts an internal audit of its subsidiaries each a few several years, gave Ivan detect in Aug 2022 that it meant to do an audit on Fusionex Group and Fusiotech Holdings in March 2023.
But this request with the house owners of the organization and its appointed directors and audit anchor committee was denied by Ivan, all on the pretext of some “authorities directive” that prevented him from sharing monetary info sought by Hitachi in a company they owned, a hundred%.
It's also not recognised if Hitachi has reached out to any buyers to support them, however these types of initiatives are clearly handicapped by it not being aware of who Fusionex’s customers even are further than the big kinds where the deal wins have been accompanied by media releases.
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