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"Similar to our IPO not remaining the tip of the organization’s journey then, the proposed delisting of Fusionex is just the beginning of a new chapter to the Tale of the company and the rise of a different commencing," he tells DNA in an job interview.
Before my having access to the Hitachi winding up petition papers, I'd invested Just about two weeks asking market gamers, present-day and past Fusionex personnel about what could have absent Completely wrong but with little or no light-weight on what could have prompted this drastic selection by Hitachi.
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Suspicious transactions pertaining to V-Circle and Convedge for ‘software program improvement fees’ and/or ‘know-how fees’
An govt through the agency tells DNA, “We want to hold out for more clarity on what genuinely happened at Fusionex before you make any choices of support.”
Meanwhile DNA has learnt that a previous Fusionex project manager for A serious governing administration account has achieved out to The federal government agency to reassure them that their Fusionex constructed and run platform can be taken care of and held working smoothly publish Fusionex.
There is market place speak that Ivan has an curiosity in the corporate Even though his title will not surface Read More Here as being a shareholder or director and somebody knowledgeable about V-Circle tells DNA that Ivan has little interest in the corporate.
Hitachi court docket petition to wind up Fusionex, reveal grim picture of alleged unethical and irresponsible perform by Ivan Teh and his senior Management
It absolutely was not just the movement to wind up, nevertheless the news that Ivan and plenty of of his leadership workforce Stop their Work opportunities abruptly devoid of serving owing detect and didn't execute their Specialist and fiduciary responsibilities with a proper handover of entry and paperwork.
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Through the floor amount, it appears that evidently minority shareholders and significant shareholders like Teh are the most important casulties.