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The drastic step was induced because of the abrupt departure of Fusionex founder, Ivan Teh, and his senior Management, leaving the company's operations in a very state of confusion.

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The forward-on the lookout statements contained With this push release are created as on the date of this push release, and the organization isn't going to undertake any responsibility to update the forward-looking statements With this release, besides in accordance with relevant law.

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Moreover, all information and facts concerning the continuity from the Fusionex operations and business enterprise was not shared just before or handed about throughout their departure,” said the files.

Compounding your situation ended up revelations of economic opacity, uncooperative conduct from executives, and considerable gaps in enterprise records, such as financial files and personnel info.

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“The prior senior click here for more info administration departed the company right away with no kind of handover with the administration click to read as well as operations.

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The disaster intensified when Teh and his group obstructed an interior audit introduced by Hitachi as part of its possibility assessment tactic. The Fusionex group cited a government directive limiting the sharing of sensitive information and facts with international entities to be a basis for non-compliance. Nevertheless, Hitachi's authorized counsel found the directive inadequate to justify The shortage of disclosure.

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