With the surface level, it appears that evidently minority shareholders and significant shareholders like Teh are the biggest casulties.

According to a highly skilled lawyer accustomed to liquidation matters, “Hitachi, as the only shareholder, could have kept its winding up petition in a simple and superficial amount.

Continue to, this was plenty of for Hitachi’s lawyers to realise the ‘Federal government Directive’ was simply a standard letter reminding the recipients to training warning and keep away from breaching any legislation in relation on the disclosure of data to 3rd events and foreigners.

It continues to be to get found if Ivan will come out and protect himself and his status from the harming contents of Hitachi’s petition. Any long term he hopes to acquire of nevertheless staying a vital Element of Malaysia’s tech ecosystem will count on this.

As a substitute, With all the court docket now appointing interim liquidators from Deloitte Restructuring Solutions PLT on 27 Dec, agreeing with Hitachi’s argument which the dire condition Fusionex faces requires urgency, the panic is the fact that Fusionex will cease to exist, with the only remnants becoming its billboards round the Klang Valley, waiting to be taken down also.

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For Teh, the main driver for these kinds of move is his perception that Fusionex is undervalued for a long time that you can buy. 

It was not just the movement to wind up, however the news that Ivan and many of his Management group Stop their Positions abruptly with no serving because of observe and didn't execute their Qualified and fiduciary responsibilities with a proper handover of obtain and documents.

and his workforce - whereby the corporate's shares fell substantially just after it declared that it hopes to seek shareholders’ acceptance to delist in the London Stock Exchange AIM. 

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It is actually a surprising drop, without having parallel in Malaysia’s tech background. Much more so, as Ivan will be the closest point to currently being the golden boy for Malaysian tech, building a company to contend inside the enterprise tech Place versus world-wide tech players.

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