Fusionex

Website

Malaysia

Fusionex is a data technology company that specializes in big data analytics and artificial intelligence.

CCI Score

-46.80

0.02% April 18

Latest Event

Fusionex Liquidation Probe Reveals Potential Mismanagement

Interim liquidators appointed by the Shah Alam High Court are investigating claims of diversion of business assets to third parties within the Fusionex Group, following a petition by Hitachi. The probe, which uncovered inadequate financial records and led to the termination of employees, reflects deep-rooted issues in corporate governance and ethical practices.

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QUISLING

Fusionex is currently rated as a Quisling.

-44 to -59 CCI Score

These companies are fully aligned with authoritarian regimes. They not only support but also enforce oppressive policies, playing a significant role in the regime’s operational apparatus and contributing directly to its consolidation of power.

Latest Events

MAY

08

2024

Fusionex Liquidation Probe Reveals Potential Mismanagement
-63.68

Interim liquidators appointed by the Shah Alam High Court are investigating claims of diversion of business assets to third parties within the Fusionex Group, following a petition by Hitachi. The probe, which uncovered inadequate financial records and led to the termination of employees, reflects deep-rooted issues in corporate governance and ethical practices.
-70

Business Practices and Ethical Responsibility

March 29

The investigation by interim liquidators into the alleged diversion of business assets indicates significant mismanagement and a lack of ethical responsibility by Fusionex. The failure to provide complete financial records and the cascade of adverse measures—including abrupt employee terminations—undermine corporate transparency and ethical business practices.

Fusionex liquidators probing alleged diversion of business to third parties
DEC

27

2023

Fusionex Leadership Misconduct and Hitachi's Winding Up Petition
-54.82

Hitachi filed a winding up petition in the Malaysia High Court against Fusionex, alleging that CEO Ivan Teh and his senior management engaged in unethical and irresponsible conduct. The petition details a series of irregularities including suspicious financial transactions, lack of transparency, abrupt resignations, and refusal to provide key financial records, raising deep concerns over corporate governance and the treatment of employees.
-75

Business Practices and Ethical Responsibility

March 29

The winding up petition outlines significant breaches in ethical business practices by Fusionex's leadership, including withholding essential financial data, obstructing auditing procedures, and failing to provide proper transparency to its sole shareholder, Hitachi. These actions demonstrate a disregard for fiduciary duties and corporate accountability.

Hitachi court petition to wind up Fusionex, reveal grim picture of alleged unethical and irresponsible conduct by Ivan Teh and his senior leadership
-50

Labor Relations and Human Rights Practices

March 29

The report also highlights significant issues in labor relations, with abrupt resignations and possible retrenchments impacting over 110 staff. The lack of clear communication and failure to maintain proper employment records demonstrate a disregard for the rights and well-being of employees.

Hitachi court petition to wind up Fusionex, reveal grim picture of alleged unethical and irresponsible conduct by Ivan Teh and his senior leadership
DEC

22

2023

Fusionex Winding Up Following Court Order
-21.90

Fusionex Group, a Malaysian-headquartered data technology company, is being liquidated following a court order due to inadequate handover of records by previous management, affecting over 500 employees.
-30

Business Practices and Ethical Responsibility

March 29

The court-ordered winding up of Fusionex due to mismanagement and inadequate transfer of operational records reflects poor business practices and ethical responsibility, raising serious concerns over corporate governance and its impact on stakeholders.

Fusionex to shutter following court order
-20

Labor Relations and Human Rights Practices

March 29

The liquidation and uncertainty surrounding Fusionex's future have significant negative implications for employee job security and workers' rights, with over 500 employees facing potential job loss despite transitional support measures.

Fusionex to shutter following court order