About fusionex
About fusionex
Blog Article
In the end, as stated by Hitachi in its winding up papers, Fusionex was “most likely while in the zone of insolvency” and “unable to continue carrying on its business in its present-day point out.”
The winding up petition versus the Fusionex Team of companies are still pending before the court and Using the Courtroom hearing the petition in Might 2024.
Hitachi identified, for their shock, that from Sept to Nov, at least one hundred ten personnel experienced possibly resigned or been retrenched. The administrators weren't knowledgeable of this meaningful problem.
Hitachi court docket petition to end up Fusionex, expose grim image of alleged unethical and irresponsible perform by Ivan Teh and his senior Management
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In a very penned reaction handed to Ivan to the working day from the meeting, Hitachi expressed grave issue over The dearth of communications and transparency by Ivan and his leadership staff about the actual nature of your fiscal situation of Fusionex.
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An executive in the agency tells DNA, “We want to wait for more clarity on what actually occurred at Fusionex before making any decisions of support.”
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It's also not identified if Hitachi has arrived at out to any customers to assistance them, even though these kinds of initiatives are Plainly handicapped by it not recognizing who Fusionex’s clients even are past the large kinds where by the deal wins ended up accompanied by media informative post releases.
But, aiming to help you solve The problem, Hitachi established out some pre-disorders for Ivan to get funding from it, which provided:
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