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It can be a stunning fall, without having parallel in Malaysia’s tech heritage. Far more so, as Ivan is the closest point to currently being the golden boy for Malaysian tech, developing a firm to compete while in the business tech space in opposition to world wide tech players.

In its place, Hitachi went to fantastic lengths in its court docket papers to update the courtroom with terrific depth of detail of every one of the irregularities and alleged wrongdoings that transpired.”

“The prior senior management departed the corporate straight away without any kind of handover with the administration and also the functions.

As of publishing of this article, Ivan hasn't responded to DNA queries for getting his side in the story.

It stays to be found if Ivan will occur out and protect himself and his popularity versus the damaging contents of Hitachi’s petition. Any future he hopes to have of still remaining a essential Component of Malaysia’s tech ecosystem will rely upon this.

“Basically the company is winding down. There many people who are concerned With all the uncertainty. Given their techniques and their profile, most might have no issue acquiring a work shortly, that’s my guess,” stated the worker.

The target was to raise, get and safe new client bases, technologies and skills utilising the assets that Fusionex experienced cultivated during the Asian location.

The senior management departed the corporation abruptly, leaving Hitachi with out a formal handover of administration and functions. This departure integrated an absence of sharing info concerning the continuity of Fusionex's operation and organization for the duration of their exit.”

Data contained In this particular information launch is present as with the day click here now with the press announcement, but can be subject to change with no prior see.

Hitachi uncovered, to their shock, that from Sept to Nov, at the very least one hundred ten team experienced both resigned or been retrenched. The directors weren't knowledgeable of this significant problem.

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

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