The fusionex Diaries
The fusionex Diaries
Blog Article
The winding up petition from the Fusionex Group of companies are still pending before the court and Together with the Court Listening to the petition in May perhaps 2024.
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It's a surprising drop, without the need of parallel in Malaysia’s tech history. Extra so, as Ivan could be the closest thing to remaining the golden boy for Malaysian tech, creating a business to compete in the company tech space from international tech players.
However the dust is not about to settle on this story as Ivan and his senior execs who remaining instantly are hoping for. Not when the answer to Hitachi’s drastic winding up application is laid bare in the comprehensive courtroom submission.
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In the long run, as said by Hitachi in its winding up papers, Fusionex was “most likely from the zone of insolvency” and “not able to carry on carrying on its business in its current condition.”
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In 2017, Fusionex withdrew the listing of its shares from London Inventory Trade AIM for being a private firm, less than five years soon after its oversubscribed First community supplying.
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