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Regardless of the development, the company's inventory has remained mostly flattish over the past fifteen months (aside from the the latest tumble).   

Hitachi court docket petition to wind up Fusionex, expose grim image of alleged unethical and irresponsible carry out by Ivan Teh and his senior Management

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The catalyst for the current problem started when Hitachi, as Component of its possibility management and corporate governance where it conducts an inner audit of its subsidiaries every single three years, gave Ivan recognize in Aug 2022 that it meant to do an audit on Fusionex Team and Fusiotech Holdings in March 2023.

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Hitachi positioned 5 of its executives as non-govt directors around the board with Ivan and his CFO, Chen Chiang as govt administrators.

Again, Hitachi’s lawful group have been refused a replica of your ‘Government Directive’ and only allowed to appear at it visually without the need of using any notes. 

Before my getting access to the Hitachi winding up petition papers, I had put in Pretty much two weeks inquiring field gamers, recent and past Fusionex team about what might have long gone Incorrect but with little or no gentle on what could have induced this drastic conclusion by Hitachi.

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They have got gone to courtroom however it has to endure a hearing before anything requires spot. So I’m unsure once the hearing will happen. All this is completed by Hitachi’s attorneys.”

“In essence the corporation is winding down. There lots of people who find themselves anxious Using the uncertainty. Supplied their expertise as well as their profile, most might have no difficulty getting a position try this soon, that’s my guess,” claimed the worker.

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