The fusionex Diaries
The fusionex Diaries
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This bundled a conversation by using a previous senior government who tried to persuade me not to put in writing with regards to the matter.
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A couple of days later the inhouse legal counsel for Fusionex showed Hitachi’s attorneys a copy of A different ‘authorities directive’ dated 27 Nov which purported to prohibit Fusionex from sharing any facts Using the audit committee.
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I'm concerned which the steps on the Fusiotech management group might have further repercussions for the ecosystem Particularly overseas traders and potential acquirers of Malaysian startups.”
“This final decision stems with the insurmountable issues arising in the insufficient handover of records and knowledge because of the past management, which correctly left Hitachi with none type of knowledge regarding the management, functions, and continuity of the business enterprise of Fusionex Group,” he said.
According to its winding up petition, Hitachi reported it had been alerted by Ivan in Sept 2023 that the company experienced suffered a sharp fall in revenue accompanied by a stunning revelation from Ivan at a meeting on 27 Oct 2023 that it would wish to cut charges, such as speedy retrenchments, devoid of which it may not be ready to satisfy its money obligations by Nov/Dec and the retrenchments click site would require massive payment.
The management workforce as well as CEO owe a fiduciary obligation for the Board and cannot withhold any data requested by the Board,” he reported.
Suspicious transactions pertaining to V-Circle and Convedge for ‘software program improvement expenses’ and/or ‘engineering fees’
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“Only then we will find out the reason for the investigation. Anything at this stage of time is highly speculative until finally the investigation is full.
But, aiming that will help take care of The problem, Hitachi set out some pre-situations for Ivan to obtain funding from it, which integrated:
In line with a highly trained attorney aware of liquidation matters, “Hitachi, as the only shareholder, could have kept its winding up petition in a standard and superficial level.
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