Hitachi’s legal professionals were being also not presented a duplicate on the directive and ended up only allowed to see it without having getting any notes in the course of a meeting amongst The 2 sides in KL on 23 Nov.

Despite the development, the company's stock has remained largely flattish over the past 15 months (excluding the new tumble).   

However the dust will not be about to settle on this story as Ivan and his senior execs who still left quickly are hoping for. Not when the answer to Hitachi’s drastic winding up software is laid bare inside the thorough court submission.

Hitachi placed 5 of its executives as non-government directors to the board with Ivan and his CFO, Chen Chiang as govt directors.

However, this was adequate for Hitachi’s attorneys to realise that the ‘Govt Directive’ was simply a common letter reminding the recipients to training caution and steer clear of breaching any guidelines in relation for the disclosure of data to 3rd parties and foreigners.

“This conclusion stems from the insurmountable worries arising with the insufficient handover of documents and data through the preceding management, which properly remaining Hitachi with none variety of data regarding the administration, functions, and continuity in the organization of Fusionex Team,” he said.

They may have gone to court nevertheless it has to undergo a hearing before anything at all normally takes area. So I’m not sure once the Listening to will almost certainly happen. All this is completed by Hitachi’s legal professionals.”

As of publishing of this informative article, Ivan hasn't responded to DNA queries to receive his aspect of the story.

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In 2017, Fusionex withdrew the listing of its shares from London Inventory Trade Purpose to get A personal organization, below five years immediately after its oversubscribed initial community featuring.

In the surface area stage, evidently minority shareholders and significant shareholders like Teh are the largest casulties.

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It truly is thought that other ex-Fusionex executives have also been reaching out to important government and personal sector shoppers too, assuring them of aid although It's not at all apparent through which corporation.

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