9D Fusionex Trade SDN BHD - Interim Liquidator - 240110 - 113409

BA-28NCC-732-12/2023
Encl No. 6
H0272101 BA1323229812 21/12/2023 14:38:35

IN THE HIGH COURT BA-28NCC-732-12/2023
OF MALAYA AT SHAH ALAM
TSA073...........................2.00
COMPANIES (WINDING-UP) NO. BA-28NCC-732-12/2023 x 1
Jumlah RM****************************2.00
In the Matter of FUSIONEX TRADE SDN
BHD (Company No.: 201701036440
(1250611-H))
AND
In the Matter of Section 465(1)(a) and /or

465(1)(h) and/or Section 476 and 477 of
the Companies Act, 2016.
BETWEEN
FUSIONEX CONNECT SDN BHD

(COMPANY NO.: 201601023250 (1194189-U)) … PETITIONER
AND
FUSIONEX TRADE SDN BHD

(COMPANY NO.: 201701036440 (1250611-H)) … RESPONDENT
AFFIDAVIT IN SUPPORT
(In support of Summons in Chambers dated 21.12.2023)
I, Hiroyuki Kumazaki, (Passport No: TR8827811) a Japanese citizen of full

age and having an occupational address at Level 12, Tower A, Plaza 33, No.1, Jalan
Kemajuan, Seksyen 13, 46200 Petaling Jaya, Selangor do hereby solemnly and
sincerely affirm and state as follows:
1. I am the Corporate Officer of Hitachi, Ltd, the ultimate holding company of the
Petitioner and the Respondent. I am also the Chief Executive Officer (“CEO”)
of Fusiotech Holdings Sdn. Bhd., the Malaysian parent company of the
Petitioner and the Respondent. I am also the Group CEO of the Fusionex
Group, the group of companies comprising Fusiotech Holdings Sdn. Bhd. and
its subsidiaries. I am duly authorised to affirm this Affidavit for and on behalf of
the Petitioner.
2. The facts stated in this affidavit are true. The matters deposed to in this affidavit
are within my personal knowledge and/or are derived from documents or
records to which I have access of the Petitioner and/or the Respondent, save
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S/N 8G/Z9vTNGEqcGrlxyY5qjw
**Note : Serial number will be used to verify the originality of this document via eFILING portal
and except where I expressly state to the contrary and/or the context suggests
otherwise.
3. I affirm this Affidavit in support of the Petitioner’s Summons in Chambers to:
3.1. appoint Mr Khoo Siew Kiat and Mr Goh Huan Yang Eddie as the joint
and several interim liquidators of the Respondent pursuant to Section
476 of the Companies Act 2016 read together with rule 35(1) of the
Companies (Winding-Up) Rules 1972; and
3.2. fix the remuneration of the joint and several interim liquidators so
appointed pursuant to Section 479 of the Companies Act 2016.
(the “Application”).
4. I crave leave of this Honourable Court to refer to:
4.1. Petition dated 20.12.2023;
4.2. Affidavit Verifying Petition I have affirmed on 21.12.2023; and
4.3. The Petitioner’s Summons in Chambers dated 21.12.2023.
A. BACKGROUND FACTS – ACQUISITION OF THE FUSIONEX GROUP
5. The Petitioner is a company incorporated on 12.7.2016.
A copy of the company search of the Petitioner is annexed hereto and marked
as Exhibit P-1.
6. Presently, the Respondent is a wholly-owned subsidiary of the Petitioner. The

Respondent and the Petitioner are part of the “Fusionex Group”.
A copy of the company search of the Respondent is attached hereto and

marked as Exhibit P-2.
7. The Fusionex Group came about sometime in or around early 2020. Pursuant
to the Share Subscription and Purchase Agreement dated 12.2.2020 (the
“SSPA”) entered into between Fusiotech Holdings Sdn. Bhd. (“Fusiotech
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Holdings”) and Fusionex International PLC, a vehicle owned and controlled by
Dato Seri Ivan Teh (“Ivan”). The purchase of the shares in Fusiotech Holdings
by Hitachi, Ltd (“Hitachi”) is part of Hitachi’s group wide acquisition (“the
Acquisition”) from Fusionex International Plc (“Fusionex International”) of
the Fusionex group of companies (“Fusionex Group”) in 2020.
A copy of the chart showing before and after acquisition the ownership of the
various Fusionex group of companies is annexed hereto and marked as Exhibit
P-3.
8. Before completion of the Acquisition, Ivan was the shareholder and group CEO
of Fusionex International which was recognised as a Big Data and AI
technology market leader in the Asian region, providing AI and data analytic
services. Fusionex International and its group of companies supposedly had
highly skilled data professionals who were knowledgeable in different domains
and Fusionex International had been offering SaaS-based services to more
than 11,000 SMEs in Asia.
A copy of the News Release dated 10.4.2020 from Hitachi is annexed hereto
and marked as Exhibit P-4.
9. As a result of the Acquisition, Fusiotech Holdings was incorporated, followed

by a restructuring exercise in which Fusionex International moved 20 entities
out of its 23 entities to under Fusiotech Holdings as a condition of the closing
under the SSPA. One of the entities which was carved out from the acquisition
is FXA Holdings Sdn Bhd, which claimed to be the landlord of the Fusionex
Group’s premises at Level 11 and 12, Tower A, Plaza 33, 1 Jalan Kemajuan,
Seksyen 13, 46200 Petaling Jaya, Selangor.
10. These 20 entities and Fusiotech Holdings which Hitachi acquired from Fusionex
International are collectively known as the Fusionex Group, which includes the
Respondent. Ivan became the CEO of the Fusionex Group pursuant to the
contract of employment entered into with Fusionex Pte Ltd, a company
incorporated in Singapore and also a company within the Fusionex Group.
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A copy of Ivan’s contract of employment dated 1.4.2020 is annexed hereto and
11. At the time of the acquisition, the Fusionex Group had a strong balance sheet
and was cash rich.
A copy of Fusiotech Holdings' audited financial statement for the financial year
end of 31.3.2020 is annexed hereto and marked as Exhibit P-6.
12. Fusiotech Holdings became a wholly-owned subsidiary of Hitachi wherein

Hitachi holds all 742,624,419 shares in Fusiotech Holdings. After the
Acquisition, Hitachi also appointed non-executive directors (“the Nominee
Directors”) to the board of Fusiotech Holdings. As at 4.12.2023, there were 7
directors including 5 non-executive directors nominated by Hitachi, and the
remaining 2 directors were Ivan and Tan Chen Chiang Darren (“Chen
Chiang”). The following persons were also members of the local management
team of Fusiotech Holdings (“Local Management”) as until about 6.12.2023:
12.1. Ivan (CEO), who resigned as CEO of the Fusionex Group and the
director of Fusiotech Holdings on 6.12.2023;
12.2. Isaac Teh (also known as Jacob Isaac) (“Jacob”) (believed to be the
brother of Ivan) who had resigned as the managing director of the
Fusionex Group on 5.12.2023;
12.3. Chen Chiang (Director of Finance), who is believed to have close

working relations with Ivan and resigned as a director of Fusiotech
Holdings on 4.12.2023;
12.4. Yuen Choong Lai (Chief Financial Officer (“CFO"));
12.5. Chua Yu Ye Johnny (Chief Operating Officer (“COO”)), who is believed

to have resigned in or prior to early December 2023;
12.6. James Martin (Chief Technology Officer (“CTO”)), who is believed to

have resigned in or prior to early December 2023;
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12.7. Raju Chellam (Director of New Technology or Chief Evangelist), who is
believed to have resigned in or prior to early December 2023;
12.8. Sharin Veriah (Legal & Compliance); and
12.9. Yu Seng Huong Senior General Manager, Business Development &

Partner Alliance).
13. While Hitachi was the sole shareholder of the holding company of the Fusionex
Group, Fusiotech Holdings, and had 5 Nominee Directors on the board of
Fusiotech Holdings, Ivan and Chen Chiang were the executive directors
together with the rest of the Local Management managing the day-to-day
operations of the Fusionex Group (which includes the Respondent). Ivan and
the Local Management were trusted completely by Hitachi to run the Fusionex
Group (which includes the Respondent) without any interference from Hitachi.
At that point in time, Hitachi had no reason to distrust Ivan because he was
credited with building up the Fusionex Group and was at one point even
nominated by Ernst & Young in 2014 as EY Entrepreneur of the Year, an annual
awards program that honours Malaysia's top entrepreneurs for their
contributions to the economy and society.
A copy of the EY Entrepreneur of the Year 2014 top nominees’ announcement

is annexed hereto and marked as Exhibit P-7.
B. IVAN AND LOCAL MANAGEMENT’S REFUSAL TO PROVIDE

INFORMATION AND AUDIT REQUEST
14. For risk management and corporate governance purposes, Hitachi conducts an
internal audit on its subsidiaries once every 3 years. In respect of the Fusionex
Group and Fusiotech Holdings, this was originally scheduled to be conducted
in March 2023 and notice of the audit was issued ahead of time on or around
31.8.2022.
A copy of the email and letter dated 31.8.2022 from Hitachi is annexed hereto
and marked as Exhibit P-8.
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15. In preparation for the March 2023 audit, Hitachi had ahead of time in November
2022 sent a list of documents to the Local Management to request them to
provide documents for the internal audit. Over the course of the internal audit
process however, Hitachi faced resistance and delay in obtaining the relevant
information from the Local Management.
16. Among the initial reasons used by the Local Management to delay or refuse to
provide information included, among others, the need to focus their attention
on their statutory and government audits. The Local Management’s refusal to
provide all the information requested by Fusiotech Holdings’ audit committee,
in particular the lack of clarity in the process adopted by the Local Management
to prepare the financial statement of Fusiotech Holdings and all the companies
in the Fusionex Group resulted in the delay in approval of the audited financial
statements of Fusiotech Holdings and all the companies in the Fusionex Group
for the financial year end of 31.3.2023 in June 2023.
Now produced is a copy of my email dated 24.6.2023 and my letter dated

24.6.2023 addressed to Ivan, annexed hereto and marked as Exhibit P-9.
17. On or around 28.6.2023, a member of Fusiotech Holdings' audit committee also

informed Ivan that the information provided was not sufficient to confirm the
financial statements prepared by Ernst & Young, Fusiotech Holdings’ statutory
auditor. In the letter, reference was made to a list of items which the audit
committee would require in order to confirm the items in the financial statements
prepared by Ernst & Young, which includes “journal entries and evidence… or
validate the process to create financial statements” and the importance of the
internal audit process “to ensure that appropriate financial management” was
also emphasised.
Now produced are copy of the email dated 28.6.2023 and the letter dated
28.6.2023 annexed hereto and collectively marked as Exhibit P-10.
18. After the events above, which was the first time after the Acquisition that Ivan
and his team were made to explain the financial process and status of the
Fusionex Group (which includes the Respondent), Ivan and the Local
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Management pushed back more aggressively against the request for
documents and information from Hitachi and the board of directors of Fusiotech
Holdings by giving various strange and unusual excuses. The first of such
strange and unusual excuses is that the SME Association of Malaysia had
informed the Fusionex Group that there have been unauthorized leaks of data
to foreigners. According to the said letter, there was “unauthorized sharing of
our [SME Association of Malaysia] members’ information to foreign parties”
(“Purported Restriction from SME Association of Malaysia”).
A copy of the email correspondence between Sharin and me dated 4.7.2023

and the letter dated 28.6.2023 from SME Association of Malaysia are annexed
hereto and collectively marked as Exhibit P-11.
19. I am advised by the Petitioner’s solicitors and verily believe to be true that the
Purported Restriction from SME Association of Malaysia is not a valid and
reasonable excuse to refuse disclosure to the board of directors of Fusiotech
Holdings based on the following reasons:
19.1. The said SME Association of Malaysia’s letter, does not, in any way,
restrict Fusiotech Holdings from sending its own financial information to
its own directors.
19.2. In any event, SME Association of Malaysia has no power or authority to

restrict its members from giving its own information to its directors
(foreigner or otherwise).
19.3. Further and in any event, the foreign directors on the board of Fusiotech
Holdings are entitled to Fusiotech Holdings’ financial information and
records, without which they cannot properly discharge their fiduciary and
statutory duties as directors.
20. After several discussions between Hitachi’s audit team and Ivan in July and
August 2023, an audit inspection was finally allowed to be held in Fusiotech
Holdings' premises from 31.8.2023 to 4.9.2023. At the inspection, Hitachi’s
audit team was allowed to inspect only selected documents provided by
Fusiotech Holdings under tight supervision of the Local Management (including
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Sharin, IT manager Mr Gan, and Chen Chiang) and under various restrictions
(including prohibiting use of smartphones in the meeting room and preventing
notes from being taken out of the meeting room).
21. On 18.9.2023, Hitachi’s nominee directors approved Fusiotech Holdings'

financial statement for financial year end of 31.3.2023 based on the sample
checks conducted from 31.8.2023 to 4.9.2023. At the same time, Fusiotech
Holdings’ audit committee also gave its recommendations on the process to
obtain the board’s approval of the financial statements going forward, including
allowing the board members to review the balance sheet, profit and loss and
cash flow statement at monthly meetings and quarterly board meetings.
A copy of the recommendation is annexed hereto and marked as Exhibit P-12.
22. In or around early October 2023, Hitachi’s legal personnel discussed Hitachi’s
concerns regarding the Local Management’s lack of transparency in sharing
financial information, even to Hitachi’s nominee directors who were (and still
are) sitting on Fusiotech Holdings’ board. Sharin Veriah, Fusiotech Holdings’
in-house legal counsel, persistently refused to disclose information and
documents on an unfounded fear of leakage of sensitive customer information
and because there was a “government letter” prohibiting the Local Management
from sharing “data” with foreign parties. Sharin also cited section 245 of the
Companies Act 2016 and implied that any such disclosure of information to
Fusiotech Holdings’ own board of directors “would have detrimental effect or
harm the company.”
A copy of the correspondence with Sharin dated 31.10.2023 and 13.11.2023

are annexed hereto and marked as Exhibit P-13.
C. HITACHI’S CONCERNS OVER THE FUSIONEX GROUP’S FINANCIAL

CONDITIONS AND IVAN’S REQUEST FOR ADDITIONAL FUNDING
23. Around September 2023, Hitachi was informed of a sharp drop in the Fusionex
Group’s (which includes the Respondent) sales. This was followed by a meeting
on 27.10.2023, during which Ivan, together with Jacob and Chen Chiang in
attendance, presented a business recovery plan dated 27.10.2023 to Hitachi.
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In the said business recovery plan, Ivan presented 2 options to Hitachi: Option
1 - “Cut costs further by cutting corners, cut customer service, development &
integration, and carry out immediate staff retrenchment” and stated that “without
further funding, there will be insufficient cash/funding to continue operation,
pay for statutory, tax & other fee by Nov/Dec 2023” and “Laying of staff,
retrenchment/VSS would require large compensation” and Option 2 –
“Receive shareholder capital injection of USD100 – 150million ASAP (by mid
November) to stabilize the group, instill confidence and prevent further erosion
of confidence and loss of customers, then recover and grow once the situation
stabilizes”. The business recovery plan ended with the Local Management’s
recommendation for Option 2.
A copy of the business recovery plan dated 27.10.2023 is annexed hereto and
24. This information came as a rude shock to Hitachi who was not aware that the
Fusionex Group was purportedly in such a dire financial situation. Thus, Hitachi
immediately asked Ivan to provide further information to explain the situation.
25. On 13.11.2023, Ivan presented another business recovery plan to Hitachi and
informed Hitachi that the Fusionex Group needed funding of around USD 100
– 150 million to strengthen the research and development of the group’s
technology.
A copy of the business recovery plan dated 13.11.2023 is annexed hereto and
26. This business recovery plan was presented when Ivan and Jacob visited Japan
to meet Hitachi’s representatives to discuss about the Fusionex Group’s
financial situation and future direction. In the said meeting, Hitachi stressed that
it is important for Hitachi to manage its group companies in a compliant and
appropriate manner, and to ensure proper financial management. Hitachi also
raised its concern about the critical business situation which Ivan and his team
had reported to Hitachi, with very limited information about Fusiotech Holdings
and the Fusionex Group.
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27. In Hitachi’s letter dated 13.11.2023 which was handed to Ivan on the same day,
Hitachi made it very clear that it was doing its utmost to resolve Fusiotech
Holdings’ and the Fusionex Group’s situation, but it would be difficult for
Fusiotech Holdings to obtain funding from Hitachi without having received the
relevant information and Fusiotech Holdings' recovery plan. In the letter, Hitachi
also set out the pre-conditions for obtaining funding from Hitachi, which includes
(a) a list of information to be provided by Ivan and the Local Management
(including the bank balance data); (b) the appointment of Hitachi’s nominees as
directors in other entities of the Fusionex Group; and (c) all bank transactions
of the Fusionex Group to be jointly approved by the finance staff designated by
Hitachi.
A copy of Hitachi’s letter dated 13.11.2023 and the record of the meeting
minutes are annexed hereto and marked as Exhibit P-16.
28. On 17.11.2023, Ivan met with Hitachi’s representatives over Zoom to follow up
on Hitachi’s requests in the letter dated 13.11.2023. In the meeting, Ivan
mentioned that his team would work on the information requested by Hitachi as
best they could, bearing in mind his team’s workload. He also suggested that
Hitachi’s request for information had caused distractions and interference.
D. AC REQUEST FOR AUDIT WAS REJECTED BY IVAN, BASED ON SO-

CALLED ‘GOVERNMENT DIRECTIVE’
29. Left with no choice and deeply concerned that Ivan was suppressing
information on the Fusionex Group’s actual financial condition, Hitachi’s
nominee directors to Fusiotech Holdings then moved a resolution on
21.11.2023 (the “Resolution”), resolving that, among others, the audit
committee is authorized to exercise the powers to conduct audit on Fusiotech
Holdings and its subsidiaries’ bank transactions, journal entries on intangible
assets, monthly cashflow forecast, to access and analyse all accounting and
other records of Fusiotech Holdings and its group of companies.
A copy of the Resolution is annexed hereto and marked as Exhibit P-17.
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30. Before commencing the audit mandated by the board resolution dated
21.11.2023, Hitachi and its nominee directors to Fusiotech Holdings, myself
Takahiro Yoshida, and Yoshiaki Hanafusa (who are collectively members of the
audit committee (“AC”)), together with its lawyers (“MHM/RLP”), met Ivan,
Jacob and Sharin (who by then had also appointed their lawyers Mr. Sudhar
Thillainathan from Messrs. Steven Thiru & Sudhar Partnership and Mr. Edward
Kuruvilla from Messrs. Kuruvilla Yeoh & Benjamin) on 23.11.2023 and
27.11.2023 to seek Ivan and the Local Management’s cooperation to access
Fusiotech Holdings’ financial documents for the purpose of conducting the
mandated audit. However, such requests were met by persistent and adamant
refusals by Ivan and the Local Management to hand over the information and
documents requested by Fusiotech Holdings' AC.
31. Prior to and during the meetings on 23.11.2023 and 27.11.2023, the Local
Management persisted in their obstinate position that they could not reveal any
of the documents and information requested.
A series of correspondence between Sharin and the nominee directors of

Fusiotech Holdings were exchanged from 20.11.2023 to 27.11.2023 and are
annexed hereto and collectively marked as Exhibit P-18.
32. During the first meeting on 23.11.2023, Ivan explained that the audit could not
proceed as the notice to conduct audit was only issued to him a day prior and
that most of the documents requested have already been provided to Hitachi.
More importantly, Ivan and his team repeatedly alluded to a so-called
“Government Directive” and claimed that the directive prohibited the Local
Management from providing the information and documents requested by the
AC.
33. After repeated requests from MHM/RLP and myself during the meeting on
23.11.2023 to provide a copy of the Government Directive, the Local
Management merely allowed RLP to sight a copy of the Government Directive
under the close supervision of Sharin. The Local Management had relied on
this Government Directive as a blanket excuse to refuse the AC to conduct any
internal audit on Fusiotech Holdings.
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34. I am informed by Hitachi’s solicitors and verily believe to be true that the said
Government Directive is merely a general letter reminding the recipients to
exercise caution and avoid breaching any laws in relation to the disclosure of
data to third parties and foreigners. The Government Directive does not
stipulate any requirement for the Local Management to seek permission from
the government before disclosing information and documents to the foreign
directors of Fusiotech Holdings. The Local Management also refused to provide
a copy of the Government Directive to MHM/RLP and only made it available for
MHM/RLP to view visually without taking any notes.
35. What is even more peculiar is the Local Management even refused to allow the
AC to audit the documents provided to Fusiotech Holdings’ statutory auditor,
Ernst & Young. The Local Management cited the need for the government’s
permission before sharing such documents, but no reason was given as to why
the government’s permission was required.
36. The meeting on 23.11.2023 thus ended without any audit as Ivan proposed
another meeting on 27.11.2023 since he only received the notice regarding the
audit exercise on very short notice.
37. In respect of the meeting on the 27.11.2023 which was attended by Ivan, Jacob
and Sharin (and their external lawyer), MHM/RLP together with the AC provided
to the Local Management a list of documents and information required.
A copy of the list provided on 27.11.2023 is annexed hereto and marked

Exhibit P-19.
38. It was explained to the Local Management that the documents / information are
merely financial information of Fusiotech Holdings, which the directors are
entitled to have to carry out their fiduciary obligations. The Local Management
refused to explain why the list of documents / information is considered
confidential, and maintained its position that the information and documents
cannot be provided until and unless it has obtained permission from the
government of Malaysia.
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39. It is important to emphasize at this juncture that during the 27.11.2023 meeting,
the AC made it clear that they were not asking the Local Management to share
third party personal data or government data or information. The AC had only
requested for Fusiotech Holdings’ financial information. The Local Management
informed the AC that they needed to obtain consent from the government and
this might take at least one week. In the meantime, the Local Management
informed the AC that Hitachi’s nominee directors to Fusiotech Holdings might
speak to Ernst & Young to review documents that were already shared with
Ernst & Young.
40. After the meeting on 27.11.2023, Sharin then called RLP for a meeting urgently.
During the meeting, Sharin showed RLP a copy of another purported
“Government Directive” dated 27.11.2023 which purported to prohibit Fusiotech
Holdings from sharing any data with the AC. Sharin refused to allow RLP to
keep a copy of the “Government Directive” and RLP was only allowed to look
at it visually without taking down any notes.
41. On or around 28.11.2023, the Local Management called for a meeting in

relation to a so-called “newly received government directive”. Sharin then sent
an email asserting that the directive was “specific and very concerning”, and
that the government had requested to be kept updated on the developments of
the ongoing and future audits relating to Fusiotech Holdings. On this basis, the
Local Management then decided to suspend any further discussions with
Hitachi and the AC regarding the audit. The Local Management also suspended
any discussions between Hitachi and AC with Ernst & Young. I found this
shocking as the members of the AC, being myself, Takahiro Yoshida, and
Yoshiaki Hanafusa are also directors of Fusiotech Holdings and should have
unrestricted access to the financial records of Fusiotech Holdings.
A copy of the email exchanges from 27.11.2023 to 28.11.2023 is annexed

hereto and marked as Exhibit P-20.
E. ABRUPT RESIGNATION OF IVAN AND THE LOCAL MANAGEMENT
42. A few days thereafter, on 4.12.2023, Hitachi received an email from Jacob
saying that the COO, CFO, CTO, and the Chief Evangelist of the Fusionex
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Group and Fusiotech Holdings have all resigned. Chen Chiang also resigned
as Fusiotech Holdings' director on the same day, and as an employee the day
after. On 5.12.2023 and 6.12.2023, Jacob and Ivan resigned respectively as
the Managing Director and the CEO of Fusionex Pte Ltd and for the Fusionex
Group without serving the requisite 6 months’ notice. They claimed that they
had paid salary in lieu of notice. Fusionex Pte Ltd responded on 6.12.2023 to
inform them that they would need to provide a proper handover. Unfortunately,
no proper handover was undertaken by either Jacob or Ivan, and they refused
to meet Hitachi or its nominee directors for a handover.
A copy of the correspondence with Ivan and Jacob is annexed hereto and
collectively marked as Exhibit P-21.
43. Immediately to ensure that the affairs of the Fusionex Group are looked after, I
was appointed as the Group CEO on 6.12.2023 by way of a board written
resolution (with majority votes). A subsequent announcement of my
appointment was made in-person (on a rolling basis) to employees who came
to the office premises to collect their personal belongings. Despite our best
efforts, this announcement could not be made to all the existing employees for
the reasons set out below – in particular, because: (i) there was apparently no
wider e-mail distribution list; and (ii) it was impossible to categorically discern
existing employees from those who had already resigned and left the Fusionex
Group. I also made efforts to contact the key management personnel of the
Fusionex Group but each of them had refused to co-operate.
F. THE CURRENT STATE OF AFFAIRS OF THE RESPONDENT AND THE

FUSIONEX GROUP
44. On 7.12.2023, the nominee directors of Hitachi to Fusiotech Holdings together

with their external advisors, entered the premises of the Fusionex Group (which
includes the Respondent). To our surprise there were very few employees
present on that particular day. The following information, both shocking and
worrying, was discovered over the course of the next few days after entering
the premises:
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44.1. Many employees of the finance department (including senior personnel
like the Director of Finance, Finance Manager and Assistant Manager)
have resigned in or around the end of August 2023 or early September
2023 with the last date of employment around the end of November
2023. Yet this was not brought to the attention of the nominee directors
of Hitachi. There was also no evidence that the Local Management took
any steps to hire any replacements for the staff of the finance
department.
A copy of the resignation letters of the personnel in the finance

department are annexed hereto and collectively marked as Exhibit P-
22.
44.2. On Friday, 8.12.2023, almost the entire office staff were absent, save for
the receptionist and a few secretaries. The receptionist however refused
to be forthcoming about the events that led up to the abrupt desertion of
the office premises. To the best of my knowledge, existing staff
apparently received a company-wide email informing them to work from
home starting Thursday, 7.12.2023 (i.e., one day after Ivan’s
resignation). Further, I was informed upon asking that there was no
comprehensive email distribution list to whom we could circulate relevant
inquiries and/or firmwide announcements.
44.3. The Group CEO’s secretary, Cherie Siaw, was in the office on 8.12.2023
to serve her notice period. She was then informed that I was appointed
as the new Group CEO of the Fusionex Group, replacing Ivan. I then
requested her to hand over the mobile number of the key employees of
the group in her possession and asked her to secure all the documents
and information of the group. She however refused my request.
A copy of the internal memo dated 8.12.2023 is annexed hereto and

44.4. When I requested Cherie to hand over her laptop, she initially refused to
do so but had subsequently agreed to hand it over on her last day of
work on 15.12.2023. I then informed her that if that was the case, then
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her last day of work was on 8.12.2023 and that she should hand over
her laptop immediately which she did. When we accessed her laptop,
we discovered that it had been wiped clean.
44.5. The offices of the human resources department / personnel did not have
the list of employees on the payroll of the Fusionex Group (which
includes the Respondent). To the best of my knowledge, William, whom
I believe is the Human Resource Manager, was noticeably unresponsive
to all our employment-related queries since around 4.12.2023, despite
not having resigned yet (at least to the best of my knowledge). A list of
employees was therefore created and assembled manually by the
external advisors through the employment contracts that were still
available in the offices of the human resources department. It was only
on 18.12.2023 that William provided Mr Hanafusa, Hitachi’s nominee
director to Fusiotech Holdings what he said is a list of employees of the
Fusionex Group. The current management is currently verifying the list.
44.6. To the best of my knowledge, a large number of staff had been

retrenched or had resigned by 7.12.2023, but it is not altogether clear to
us specifically which employees have since left or remain employed by
the Fusionex Group (which includes the Respondent). While we were
able to deduce on a piecemeal basis from the employment contracts left
behind, the status of employments for some employees, the full official
list was never made available to us even after repeated requests.
44.7. That said, the numbers of employees that appear to have been
retrenched or have resigned is concerning. In particular, given that at
least 110 employees have resigned from August 2023 to November
2023, it would mean that about 20% or more of existing employees have
since left the Fusionex Group (which includes the Respondent) over a
short span of 4 months. The breakdown can be seen as follows
(although it bears reiterating that the numbers remain incomplete owing
to the dearth of information available to Hitachi):
Department August September October November Total

Solutions Development 12 6 8 4 30
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Consultants/Project
Managers 4 7 13 2 26
Software, Data and AI
Developers 1 9 2 12
Analyst 6 2 2 10
Quality Assurance 6 2 2 10
Finance and Accounts 4 3 1 1 9
Operations 3 1 1 5
Marketing and Sales 1 1 2
Business Development 1 1
Legal 1 1
Human Resource 1 1
unknown designation 1 1 1 3
37 24 38 11 110
44.8. Additionally, there were no proper records of the Fusionex Group’s

(which includes the Respondent) contracts, customers, suppliers, or
management accounts to ascertain the financial state of the Fusionex
Group or the Respondent.
44.9. The cabinets in the finance department appeared to have been emptied
out. The financial records and management accounts of the Fusionex
Group (which includes the Respondent) were nowhere to be found,
except for the balance sheet and consolidated statement of financial
position as at 30.9.2023.
44.10. A set of finance ledgers relating to the Fusionex Group (dated

05.07.2023) were also found. The ledgers showed a number of
suspiciously voluminous transactions pertaining to V-Circle’s and
Convedge’s “software development costs” and/or “technology fees”. A
substantial number of these transfers were done through the Fusionex
Group’s Singapore and Macau-incorporated entities.
A copy of the ledgers and photos taken of the finance department are
annexed hereto and collectively marked as Exhibit P-24.
44.11. The Fusionex Group (which includes the Respondent) (under the new
management) was not able to access the servers or computers at its
premises. The Fusionex Group’s (which includes the Respondent)
attempts to reach the CTO, James Martin were met with silence, and he
17
had refused to cooperate with handing over the credentials for access to
the Fusionex Group’s IT system to the current management.
45. On 7.12.2023, I contacted Ivan to request for a meeting to discuss about

matters relating to the Fusionex Group, as there were many outstanding
matters that needed to be clarified due to Ivan’s sudden resignation. Although
Ivan and I had initially agreed to meet sometime on 11.12.2023, Ivan
subsequently informed me that he was no longer available and that he would
be comfortable to discuss matters pertaining to the business only “without the
presence of legal counsel”, in response to my statement that he would be
accompanied by Hitachi’s representatives and external legal advisors (and
stating explicitly as well that Ivan could do the same if he so wished).
A copy of the letters from Ivan and Fusiotech Holdings’ letters in response are
annexed hereto and marked as Exhibit P-25.
46. To date, neither Ivan nor anyone from the Local Management has met me to
initiate a proper handover or offer any insight as to the Fusionex Group’s actual
state of affairs, rendering it practically impossible for me and the nominee
directors to continue the Fusionex Group’s including the Respondent’s
business.
47. It is evident that the Local Management had timed their resignations, along with
the mass resignation of the entire finance department of the Fusionex Group,
with the intention to financially cripple the Fusionex Group (which includes the
Respondent). It is also reasonable for me to infer that the Local Management
and members of the finance department who had resigned had conspired to
injure and damage the Fusionex Group (which includes the Respondent) by
their actions. Their actions are pre-meditated to ensure that the Fusionex Group
(which includes the Respondent) cannot continue operating under the new
management and is left in the dark about the affairs of the company post-
acquisition by Hitachi.
48. This, coupled with no proper handover of records, especially financial records
of Fusionex Group (which includes the Respondent), causes the Petitioner to
be concerned that the Fusionex Group (which includes the Respondent) is
18
insolvent or near insolvent, and the current remaining directors of the
Respondent will be exposed to claims of fraudulent or insolvent trading. While
Hitachi and the new management of the Fusionex Group have managed to
consolidate some information on a best-efforts basis, the knowledge we have
of the actual state of affairs of the Fusionex Group is still sparse at best, owing
to the paucity of information and documents left behind at the office premises.
At the moment, there is a high risk that the current remaining directors of the
Respondent will be exposed to claims of fraudulent or insolvent trading. As Ivan
had previously asked Hitachi for financial support for the Fusionex Group, the
Petitioner has good reasons to believe that the Fusionex Group (which includes
the Respondent), is in dire financial circumstances and very possibly insolvent.
49. Further, on 8.12.2023, Fusiotech Holdings received notices from FXA Holdings
claiming that there was no tenancy or the tenancy had expired in relation to the
premises currently being occupied by the Fusionex Group. Based on the
notices, it was brought to Fusiotech Holdings’ attention that the tenancy for
Levels 11 and 12 of the premises had not been renewed by the Local
Management, and that the Fusionex Group (which includes the Respondent) is
currently on a month-to-month tenancy with FXA Holdings.
50. On 12.12.2023, FXA Holdings issued two more letters to Fusiotech Holdings,
claiming that the Fusionex Group (which includes the Respondent) had
breached the tenancy agreement by among others, employing security guards
to stand guard at the entrances of the premises, and removing the CCTVs
previously in place in the premises.
A copy of the letters from FXA Holdings and Fusiotech Holdings’ letters in
response are annexed hereto and marked as Exhibit P-26.
51. The Petitioner has reason to suspect that FXA Holdings, which is one of the
entities carved out from the Acquisition, is related to Ivan’s interests in Fusionex
International. The Petitioner also discovered that FXA Holdings and its 6
subsidiaries have the same address as the Fusionex Group.
52. On or around 13.12.2023, I as the new CEO of the Fusionex Group then lodged
two police reports.
19
A copy of the police reports is annexed hereto and collectively marked as
Exhibit P-27.
53. On or around 18.12.2023, Hitachi discovered through fresh company searches

conducted on all the Malaysian entities within the Fusionex Group that an
unknown person, one Mohd Nasarudin bin Abdul Zaman (“Nasarudin”), a 25-
year-old man who has an address in Sandakan, Sabah has been appointed as
a director to the following companies on 1.12.2023, shortly before Ivan’s
resignation.
53.1. FX Cloud Sdn Bhd;

53.2. Fusionex Trade Sdn Bhd;
53.3. FX DFTZ EServices Sdn Bhd;
53.4. Fusiotech Solutions Sdn Bhd;
53.5. Fusionex Corporation Sdn Bhd;
53.6. Fusionex Solutions Inc. Sdn Bhd;
53.7. ADV Fusionex Sdn Bhd;
53.8. Fusionex Capital Sdn Bhd;
53.9. Fusionex Innovations Sdn Bhd;
53.10. Fusionex Connect Sdn Bhd;
53.11. Fusionex Technology Sdn Bhd; and
53.12. Fusionex Academy Sdn Bhd
54. It is believed that these appointments were done by Ivan’s camp of directors in
the aforesaid companies through directors’ written resolutions. The
appointments are underhanded and calculated to frustrate Hitachi, and by
extension the new directors and management that have assumed their roles in
the aforesaid companies from properly executing their duties. This is evident
as:
54.1. the appointments were done surreptitiously without informing Hitachi or

Hitachi’s nominee directors to Fusiotech Holdings although Hitachi and
Fusiotech Holdings are the holding companies of all of these
subsidiaries;
20
54.2. there is no good reason for the appointments of Nasarudin as, (i) he is
unlikely to have any relevant experience to be able to carry out the duties
of a director of these subsidiaries, and (ii) he lives in Sandakan, Sabah
and not anywhere in the Klang Valley;
54.3. despite having been appointed as a director of these companies since

1.12.2023, he has until today not presented himself or reported for duty
at Fusionex Group’s offices.
Now produced is a copy of the CCM searches dated 8.12.2023 and 18.12.2023
for the affected companies above annexed hereto and collectively marked as
Exhibit P-28.
G. MEETINGS ON 17 AND 18 DECEMBER 2023
55. On 16.12.2023 and 17.12.2023, I issued an announcement to all employees of

the Fusionex Group to call for meetings on 17.12.2023 and 18.12.2023
respectively due to misinformation circulating among the employees and a
general lack of information as to the current conditions of the Fusionex Group.
H. APPOINTMENT OF JOINT AND SEVERAL INTERIM LIQUIDATORS
56. I am advised by the Petitioner’s solicitors and verily believe to be true that there
is a good prima facie case for a winding-up order because:
56.1. the Petition is filed by the sole contributory of the Respondent. The
necessary special resolution had been passed on 20.12.2023 and as
such satisfy the requirements under s465(1)(a) of the Companies Act
2016.
56.2. It is also just and equitable for a winding-up order to be made pursuant
to s465(1)(h) of the Companies Act 2016 for inter alia the following
reasons:
(a) By reasons set out above, the Petitioner had lost confidence in the
Local Management as there is evidence of lack of probity in the
conduct of the affairs of the Respondent. With the mass
21
resignation of the Local Management, the Respondent had also
lost its entire management.
(b) The nominee directors are foreigners and are not able to manage
the Respondent without any proper handover of records and
information from the Local Management.
(c) The Respondent is unable to continue carrying on its business in

its current state.
57. I state that there is a need to appoint joint and several interim liquidators to
identify if the Respondent has any ongoing contractual obligations and if so, to
ensure the continuation of the existing contracts and/or projects can be
completed to preserve the liquidation value of the Respondent.
58. In this regard, I am advised that as the Respondent is potentially in the zone of
insolvency, the appointment of joint and several interim liquidators is necessary
so that the joint and several interim liquidators may take over the affairs of the
Respondent in place of the Respondent’s directors who may be constrained
from continuing to carry out business of the Respondent due to risk of insolvent
or fraudulent trading.
59. Joint and several interim liquidators are also the best persons who will be able
to conduct an impartial and independent investigation into the affairs of the
Respondent. I am advised by the Petitioner’s solicitors and verily believe that
the interim liquidators have wide powers, which include the ability to invoke the
court’s powers under section 503 of the Companies Act 2016 to order a public
examination of the officers or trade dealings, affairs, or property of the
Respondent.
60. As such, I state that it would be in the best interests of all parties including all
the creditors of the Respondent if the said Mr Khoo Siew Kiat and Mr Goh Hua
Yang Eddie of Deloitte Restructuring Services PLT are appointed as the joint
and several interim liquidators of the Respondent based on, amongst others,
the following reasons:
22
60.1. Both Mr Khoo Siew Kiat and Mr Goh Hua Yang Eddie are noted for their
wealth of experience in corporate insolvency and will be able to
efficiently administer the affairs of the Respondent.
A copy of Mr Khoo Siew Kiat’s and Mr Goh Hua Yang Eddie’s profiles is
annexed hereto and marked as Exhibit P-29.
60.2. The appointment of the joint and several interim liquidators will ensure a
more proactive and efficient administration of the affairs and assets of
the Respondent.
60.3. The joint and several interim liquidators are needed to take over the
affairs of the Respondent in place of the Respondent’s directors who
may be constrained from continuing to carry out business of the
Respondent due to the risk of insolvent/fraudulent trading.
60.4. It is also in the interest of the creditors for the Respondent’s existing
contracts and/or projects to be managed by experienced private
liquidators to ensure that such contracts and/or projects can be
completed in a timely manner and prevent further losses from being
incurred. This in turn may result in higher distribution to all creditors of
the Respondent.
61. Both Mr Khoo Siew Kiat and Mr Goh Hua Yang Eddie have given their consent
to act as the joint and several interim liquidators of the Respondent if appointed
by this Honourable Court.
Now produced are Mr Khoo Siew Kiat’s and Mr Goh Hua Yang’s Consent to
Act dated 15.12.2023 and Liquidator Licences annexed hereto and marked as
Exhibit P-30.
I. REMUNERATION OF THE INTERIM LIQUIDATORS
23
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1 / 6
Although all efforts has been carried out to ensure that the information provided is
accurate and up to date, the Registrar of Companies will not be liable for any losses
arising from any inaccurate or omitted information
CORPORATE INFORMATION
Name : FUSIONEX CONNECT SDN. BHD.
Last Old Name : Nil
Date of Change : Nil
Company Number : 201601023250 (1194189-U)
Incorporation Date : 12-07-2016
Registration Date : Nil
Type : LIMITED BY SHARES

: PRIVATE LIMITED
Status : EXISTING
Registered Address : LEVEL 12, TOWER A, PLAZA 33,

NO. 1, JALAN KEMAJUAN, SEKSYEN 13,
PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA
Business Address : LEVEL 12, TOWER A, PLAZA 33

NO. 1, JALAN KEMAJUAN, SEKSYEN 13
PETALING JAYA
SELANGOR
Postcode : 46200
Nature of Business : COMPUTER SOFTWARE DEVELOPERS
UserID: rlp33 Date: Mon Dec 18 09:24:35 2023 Printing Date: 18-12-2023
This company information is computer generated from SSM e-Info Services as at 18-12-2023 09:24:35
**Note : Serial number will be used to
MENARA SSM@SENTRAL, verify
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KUALA LUMPUR portal
SENTRAL, 50470 KUALA LUMPUR.
Tel: 03-2299 4400 Fax: 03-2299 4411
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SUMMARY OF SHARE CAPITAL

Registration No. : 201601023250 (1194189-U)
TOTAL
ISSUED CASH OTHERWISE
(RM) THAN CASH
279,105,000.00
ORDINARY 16,000,000 3,000,000
ORDINARY A 11,000,000 0
ORDINARY B 3,000,000 0
PREFERENCE 0 0
OTHERS 0 0
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DIRECTORS/OFFICERS

Date of
Name/Address IC/Passport Designation Appointment
TAN SOON LIN 491204-71-5067 DIRECTOR 12-07-2016

NO. 68
JALAN SS24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR
LAM HAI SHUAN 761008-07-5151 DIRECTOR 12-07-2016

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
47100 PUCHONG
SELANGOR
MOHD NASARUDIN BIN ABDUL ZAMAN 981031-12-6257 DIRECTOR 01-12-2023

BLOCK P LOT 10
TINGKAT 3
BANDAR RAMAI RAMAI MALAYSIA
90009 SANDAKAN
SABAH
TAN SOON LIN 491204-71-5067 SECRETARY 12-07-2016

NO. 68
JALAN SS24/2
TAMAN MEGAH,
47301 PETALING JAYA
SELANGOR
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SHAREHOLDERS/MEMBERS

IC/Passport/ Total of
Registration No. Name Share
202001005077 (1361397-M) FUSIOTECH HOLDINGS SDN. BHD. 33,000,000
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COMPANY CHARGES

NO INFORMATION
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SUMMARY OF FINANCIAL INFORMATION

Auditor : ERNST & YOUNG PLT (LLP0022760-LCA) (AF0039)
Auditor Address : LEVEL 23A, MENARA MILENIUM
JALAN DAMANLELA
PUSAT BANDAR DAMANSARA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN
Exempt Private Company : Nil
Financial year end : 31-03-2023

Unqualified reports (Y/N) : Y
Consolidated accounts (Y/N) : N
Date of tabling : 01-08-2023
BALANCE SHEET ITEMS
Non-current assets : 85,804.00

Current assets : 7,997,576.00
Non-current liabilities : 12,231.00
Current liabilities : 46,046,497.00
Share capital : 210,110,200.00
Reserves : -2,700,000.00
Retained Earning : -245,385,548.00
Minority interests : 0.00
INCOME STATEMENT ITEMS
Revenue : 11,055,881.00
Profit/(loss) before tax : -69,457,155.00
Profit/(loss) after tax : -69,576,310.00
Net dividend : 0.00
**END OF REPORT**
This information are from the company's document registered as at 14-12-2023
Registrar of Companies
Dated : 18-12-2023
This is computer generated document. No signature is required.
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Name : FUSIONEX TRADE SDN. BHD.
Last Old Name : Nil
Company Number : 201701036440 (1250611-H)

: PRIVATE LIMITED
Status : EXISTING
Registered Address : LEVEL 12, TOWER A, PLAZA 33

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

NO.1, JALAN KEMAJUAN, SEKSYEN 13
PETALING JAYA
SELANGOR
Postcode : 46200
Nature of Business : OTHER INFORMATION TECHNOLOGY SERVICE ACTIVITIES

N.E.C.
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Registration No. : 201701036440 (1250611-H)
TOTAL
(RM) THAN CASH
155,000,000.00
ORDINARY 152,000,000 3,000,000
PREFERENCE 0 0
OTHERS 0 0
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DIRECTORS/OFFICERS

Date of

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
MALAYSIA
47100 PUCHONG
SELANGOR

BLOCK P LOT 10
TINGKAT 3
90009 SANDAKAN
SABAH

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR
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201601023250 (1194189-U) FUSIONEX CONNECT SDN. BHD. 155,000,000
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COMPANY CHARGES

NO INFORMATION
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JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS
Non-current assets : 3,700,000.00

Non-current liabilities : 0.00
Current liabilities : 54,500.00
Reserves : 0.00
Revenue : 420,000.00
Net dividend : 0.00
**END OF REPORT**
Dated : 18-12-2023
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Name : ADV FUSIONEX SDN. BHD.
Last Old Name : Nil
Company Number : 200501009393 (686440-V)

: PRIVATE LIMITED
Status : EXISTING
Registered Address : LEVEL 12, PLAZA 33, TOWER A, NO. 1

JALAN KEMAJUAN, SEKSYEN 13
PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA
Business Address : LEVEL 12, PLAZA 33, TOWER A, NO. 1

PETALING JAYA
SELANGOR
Postcode : 46200
Nature of Business : COMPUTER SOFTWARE DEVELOPERS.
UserID: rlp33 Date: Fri Dec 08 09:24:56 2023 Printing Date: 08-12-2023
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Registration No. : 200501009393 (686440-V)
TOTAL
(RM) THAN CASH
5,000,000.00
ORDINARY 5,000,000 0
PREFERENCE 0 0
OTHERS 0 0
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DIRECTORS/OFFICERS

Date of

NO.9
JALAN PUTERI 8/10
BANDAR PUTERI,
MALAYSIA
47100 PUCHONG
SELANGOR

68
JALAN SS 24/2
TAMAN MEGAH
MALAYSIA
47301 PETALING JAYA
SELANGOR

68
JALAN SS 24/2
TAMAN MEGAH
MALAYSIA
47301 PETALING JAYA
SELANGOR
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201901022977 (1332306-H) FUSIONEX TECHNOLOGY SDN. BHD. 5,000,000
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COMPANY CHARGES

1. Charge Number : 001

Total of Charge : 2,020,000.00
Date of Creation : 13-05-2009
Name of Chargee : 1. HSBC BANK MALAYSIA BERHAD
Charge Status : FULLY SATISFIED

Total of Charge : OPEN CHARGE
Name of Chargee : 1. CIMB BANK BERHAD
Charge Status : UNSATISFIED
3. Charge Number : 2022-001

Name of Chargee : 1. CITIBANK BERHAD
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JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN
Exempt Private Company : N/A

Consolidated accounts (Y/N) : Y
BALANCE SHEET ITEMS

Non-current liabilities : 4,834,705.00
Reserves : 3,629,859.00
Retained Earning : 207,527,755.00
Revenue : 583,660,641.00
Profit/(loss) before tax : 33,135,644.00
Profit/(loss) after tax : 32,839,596.00
Net dividend : -10,000,000.00
**END OF REPORT**
Dated : 08-12-2023
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Name : FUSIONEX ACADEMY SDN. BHD.
Last Old Name : Nil
Company Number : 201801022721 (1284740-A)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA
Business Address : LEVEL 12, TOWER A, PLAZA 33,

PETALING JAYA
SELANGOR
Postcode : 46200
Nature of Business : COMPUTER TRAINING;OTHER INFORMATION TECHNOLOGY SERVICE

ACTIVITIES N.E.C.
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Registration No. : 201801022721 (1284740-A)
TOTAL
(RM) THAN CASH
100,000.00
ORDINARY 1 99,999
PREFERENCE 0 0
OTHERS 0 0
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DIRECTORS/OFFICERS

Date of

NO. 68, JALAN SS24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
MALAYSIA
47100 PUCHONG
SELANGOR

NO. 68
JALAN SS24/2
TAMAN MEGAH,
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
396
4 / 6

200501009393 (686440-V) ADV FUSIONEX SDN. BHD. 100,000
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
397
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
398
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS
Non-current assets : 0.00

Share capital : 100,000.00
Reserves : 0.00
Revenue : 2,114,334.00
Profit/(loss) after tax : 777,310.00
Net dividend : 0.00
**END OF REPORT**
Dated : 08-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
399
1 / 6
Name : FUSIONEX CAPITAL SDN. BHD.
Last Old Name : Nil
Company Number : 201601015442 (1186373-P)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

PETALING JAYA
SELANGOR
Postcode : 46200
Nature of Business : INVESTMENT HOLDING
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
400
2 / 6

Registration No. : 201601015442 (1186373-P)
TOTAL
(RM) THAN CASH
100,000.00
ORDINARY 100,000 0
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
401
3 / 6
DIRECTORS/OFFICERS

Date of

68, JALAN SS 24/2,
TAMAN MEGAH,
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI,
47100 PUCHONG
SELANGOR

68, JALAN SS 24/2,
TAMAN MEGAH,
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
402
4 / 6

NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
403
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
404
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Current assets : 6,019.00
Reserves : 0.00
Retained Earning : -108,178.00
Revenue : 0.00
Profit/(loss) before tax : -7,051.00
Profit/(loss) after tax : -7,051.00
Net dividend : 0.00
**END OF REPORT**
Dated : 08-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
405
1 / 6
Last Old Name : Nil
Company Number : 201601023250 (1194189-U)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

PETALING JAYA
SELANGOR
Postcode : 46200
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
406
2 / 6

TOTAL
(RM) THAN CASH
279,105,000.00
ORDINARY 16,000,000 3,000,000
ORDINARY A 11,000,000 0
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
407
3 / 6
DIRECTORS/OFFICERS

Date of

NO. 68
JALAN SS24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
47100 PUCHONG
SELANGOR

NO. 68
JALAN SS24/2
TAMAN MEGAH,
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
408
4 / 6

NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
409
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
410
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : -2,700,000.00
Revenue : 11,055,881.00
Net dividend : 0.00
**END OF REPORT**
Dated : 08-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
411
1 / 7
Name : FUSIONEX CORP. SDN. BHD.
Last Old Name : Nil
Company Number : 200601024035 (743789-H)

: PRIVATE LIMITED
Status : EXISTING
Registered Address : LEVEL 12, PLAZA 33

TOWER A, NO. 1
PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

NO. 1, JALAN KEMAJUAN,
SEKSYEN 13
PETALING JAYA
SELANGOR
Postcode : 46200
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
412
2 / 7

TOTAL
(RM) THAN CASH
15,000,000.00
ORDINARY 14,600,000 400,000
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
413
3 / 7
DIRECTORS/OFFICERS

Date of

68, JALAN SS 24/2
TAMAN MEGAH
MALAYSIA
47301 PETALING JAYA
SELANGOR

NO 9
JALAN PUTERI 8/10
BANDAR PUTERI
MALAYSIA
47100 PUCHONG
SELANGOR

68, JALAN SS 24/2
TAMAN MEGAH
MALAYSIA
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
414
4 / 7

NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
415
5 / 7
COMPANY CHARGES


Name of Chargee : 1. UNITED OVERSEAS BANK (MALAYSIA) BHD.




Name of Chargee : 1. MAYBANK ISLAMIC BERHAD
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
416
6 / 7
COMPANY CHARGES



NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
417
7 / 7

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 53,871,156.00
Revenue : 659,853,470.00
Net dividend : -5,000,000.00
**END OF REPORT**
Dated : 08-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
418
1 / 6
Name : FUSIONEX INNOVATIONS SDN. BHD.
Last Old Name : Nil
Company Number : 201501040914 (1166234-D)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

PETALING JAYA
SELANGOR
Postcode : 46200
Nature of Business : WHOLESALE OF COMPUTER HARDWARE, SOFTWARE AND PERIPHERALS

;COMPUTER CONSULTANCY;RETAIL SALE OF ANY KIND OF
PRODUCT OVER THE INTERNET
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
419
2 / 6

Registration No. : 201501040914 (1166234-D)
TOTAL
(RM) THAN CASH
5,000,000.00
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
420
3 / 6
DIRECTORS/OFFICERS

Date of

68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
47100 PUCHONG
SELANGOR

68, JALAN 24/2,
TAMAN MEGAH,
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
421
4 / 6

200501009393 (686440-V) ADV FUSIONEX SDN. BHD. 2
200501009393 (686440-V) ADV FUSIONEX SDN. BHD. 4,999,998
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
422
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
423
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 564,583,863.00
Net dividend : -15,000,000.00
**END OF REPORT**
Dated : 08-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
424
1 / 6
Name : FUSIONEX SOLUTIONS INC. SDN. BHD.
Last Old Name : Nil
Company Number : 200801004565 (805849-P)

: PRIVATE LIMITED
Status : EXISTING

TOWER A, NO. 1
JALAN KEMAJUAN, SEKSEYN 13
PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA
Business Address : LEVEL 12, PLAZA 33

TOWER A, NO. 1
PETALING JAYA
SELANGOR
Postcode : 46200
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
425
2 / 6

TOTAL
(RM) THAN CASH
5,000,000.00
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
426
3 / 6
DIRECTORS/OFFICERS

Date of

9, JALAN PUTERI 8/10
BANDAR PUTERI
47100 PUCHONG
SELANGOR

TAMAN MEGAH
MALAYSIA
47301 PETALING JAYA
SELANGOR
LIEW JEE MIN @ CHONG JEE MIN 590327-13-5461 DIRECTOR 01-04-2015

NO. 5
SOLOK BATAI LAUT
OFF JALAN BATAI LAUT
41300 KLANG
SELANGOR

TAMAN MEGAH
MALAYSIA
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
427
4 / 6

200601024035 (743789-H) FUSIONEX CORP. SDN. BHD. 5,000,000
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
428
5 / 6
COMPANY CHARGES


NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
429
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 171,175,342.00
Net dividend : -15,000,000.00
**END OF REPORT**
Dated : 08-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
430
1 / 6
Name : FUSIONEX TECHNOLOGY SDN. BHD.
Last Old Name : Nil
Company Number : 201901022977 (1332306-H)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

PETALING JAYA
SELANGOR
Postcode : 46200

N.E.C.;ACTIVITIES OF HOLDING COMPANIES
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
431
2 / 6

TOTAL
(RM) THAN CASH
18,001,000.00
ORDINARY 1,000 18,000,000
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
432
3 / 6
DIRECTORS/OFFICERS

Date of

68, JALAN SS24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
47100 PUCHONG
SELANGOR

68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
433
4 / 6

NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
434
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
435
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 57,501,850.00
Revenue : 780,916,819.00
Net dividend : -10,000,000.00
**END OF REPORT**
Dated : 08-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
436
1 / 6
Last Old Name : Nil
Company Number : 201701036440 (1250611-H)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

PETALING JAYA
SELANGOR
Postcode : 46200

N.E.C.
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
437
2 / 6

TOTAL
(RM) THAN CASH
155,000,000.00
ORDINARY 152,000,000 3,000,000
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
438
3 / 6
DIRECTORS/OFFICERS

Date of

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
MALAYSIA
47100 PUCHONG
SELANGOR

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
439
4 / 6

NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
440
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
441
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 420,000.00
Net dividend : 0.00
**END OF REPORT**
Dated : 08-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
442
1 / 6
Name : FUSIOTECH SOLUTIONS SDN. BHD.
Last Old Name : FX SMART SOLUTIONS SDN. BHD.
Date of Change : 28-10-2021
Company Number : 201701041661 (1255834-V)

: PRIVATE LIMITED
Status : EXISTING

NO 1, JALAN KEMAJUAN, SEKSYEN 13
PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

NO.1, JALAN KEMAJUAN
SEKSYEN 13
PETALING JAYA
SELANGOR
Postcode : 46200

N.E.C.
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
443
2 / 6

TOTAL
(RM) THAN CASH
1,000.00
ORDINARY 1,000 0
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
444
3 / 6
DIRECTORS/OFFICERS

Date of

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
MALAYSIA
47100 PUCHONG
SELANGOR

68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
445
4 / 6

- FUSIOTECH SOLUTIONS LIMITED 1,000
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
446
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
447
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 0.00
Net dividend : 0.00
**END OF REPORT**
Dated : 08-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
448
1 / 6
Name : FX CLOUD SDN. BHD.
Last Old Name : FUSIONEX CLOUD SDN. BHD.
Company Number : 201701044551 (1258724-M)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

SEKSYEN 13
PETALING JAYA
SELANGOR
Postcode : 46200

N.E.C.
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
449
2 / 6

Registration No. : 201701044551 (1258724-M)
TOTAL
(RM) THAN CASH
50,000.00
ORDINARY 50,000 0
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
450
3 / 6
DIRECTORS/OFFICERS

Date of

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
MALAYSIA
47100 PUCHONG
SELANGOR

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
451
4 / 6

201601023250 (1194189-U) FUSIONEX CONNECT SDN. BHD. 50,000
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
452
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
453
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 4,794,085.00
Profit/(loss) before tax : 467,168.00
Net dividend : 0.00
**END OF REPORT**
Dated : 08-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
454
1 / 6
Name : FX DFTZ ESERVICES SDN. BHD.
Last Old Name : Nil
Company Number : 201701036483 (1250654-P)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

PETALING JAYA
SELANGOR
Postcode : 46200

N.E.C.
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
455
2 / 6

TOTAL
(RM) THAN CASH
1,000,000.00
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
456
3 / 6
DIRECTORS/OFFICERS

Date of

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
MALAYSIA
47100 PUCHONG
SELANGOR

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
457
4 / 6

201701036440 (1250611-H) FUSIONEX TRADE SDN. BHD. 1,000,000
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
458
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
459
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 6,590,482.00
Net dividend : 0.00
**END OF REPORT**
Dated : 08-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
460
1 / 6
Last Old Name : Nil
Company Number : 200501009393 (686440-V)

: PRIVATE LIMITED
Status : EXISTING
Registered Address : LEVEL 12, PLAZA 33, TOWER A, NO. 1

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA
Business Address : LEVEL 12, PLAZA 33, TOWER A, NO. 1

PETALING JAYA
SELANGOR
Postcode : 46200
Nature of Business : COMPUTER SOFTWARE DEVELOPERS.
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
461
2 / 6

TOTAL
(RM) THAN CASH
5,000,000.00
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
462
3 / 6
DIRECTORS/OFFICERS

Date of

NO.9
JALAN PUTERI 8/10
BANDAR PUTERI,
MALAYSIA
47100 PUCHONG
SELANGOR

68
JALAN SS 24/2
TAMAN MEGAH
MALAYSIA
47301 PETALING JAYA
SELANGOR

BLOCK P LOT 10
TINGKAT 3
90009 SANDAKAN
SABAH

68
JALAN SS 24/2
TAMAN MEGAH
MALAYSIA
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
463
4 / 6

NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
464
5 / 6
COMPANY CHARGES




NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
465
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 3,629,859.00
Revenue : 583,660,641.00
Net dividend : -10,000,000.00
**END OF REPORT**
Dated : 18-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
466
1 / 6
Last Old Name : Nil
Company Number : 201801022721 (1284740-A)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

PETALING JAYA
SELANGOR
Postcode : 46200
Nature of Business : COMPUTER TRAINING;OTHER INFORMATION TECHNOLOGY SERVICE

ACTIVITIES N.E.C.
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
467
2 / 6

TOTAL
(RM) THAN CASH
100,000.00
ORDINARY 1 99,999
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
468
3 / 6
DIRECTORS/OFFICERS

Date of

TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
MALAYSIA
47100 PUCHONG
SELANGOR

BLOCK P LOT 10
TINGKAT 3
90009 SANDAKAN
SABAH

NO. 68
JALAN SS24/2
TAMAN MEGAH,
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
469
4 / 6

NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
470
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
471
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 2,114,334.00
Net dividend : 0.00
**END OF REPORT**
Dated : 18-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
472
1 / 6
Last Old Name : Nil
Company Number : 201601015442 (1186373-P)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

PETALING JAYA
SELANGOR
Postcode : 46200
Nature of Business : INVESTMENT HOLDING
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
473
2 / 6

TOTAL
(RM) THAN CASH
100,000.00
ORDINARY 100,000 0
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
474
3 / 6
DIRECTORS/OFFICERS

Date of

68, JALAN SS 24/2,
TAMAN MEGAH,
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI,
47100 PUCHONG
SELANGOR

BLOCK P LOT 10
TINGKAT 3
90009 SANDAKAN
SABAH

68, JALAN SS 24/2,
TAMAN MEGAH,
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
475
4 / 6

NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
476
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
477
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 0.00
Net dividend : 0.00
**END OF REPORT**
Dated : 18-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
478
1 / 6
Last Old Name : Nil
Company Number : 201601023250 (1194189-U)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

PETALING JAYA
SELANGOR
Postcode : 46200
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
479
2 / 6

TOTAL
(RM) THAN CASH
279,105,000.00
ORDINARY 16,000,000 3,000,000
ORDINARY A 11,000,000 0
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
480
3 / 6
DIRECTORS/OFFICERS

Date of

NO. 68
JALAN SS24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
47100 PUCHONG
SELANGOR

BLOCK P LOT 10
TINGKAT 3
90009 SANDAKAN
SABAH

NO. 68
JALAN SS24/2
TAMAN MEGAH,
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
481
4 / 6

NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
482
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
483
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : -2,700,000.00
Revenue : 11,055,881.00
Net dividend : 0.00
**END OF REPORT**
Dated : 18-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
484
1 / 7
Last Old Name : Nil
Company Number : 200601024035 (743789-H)

: PRIVATE LIMITED
Status : EXISTING

TOWER A, NO. 1
PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

NO. 1, JALAN KEMAJUAN,
SEKSYEN 13
PETALING JAYA
SELANGOR
Postcode : 46200
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
485
2 / 7

TOTAL
(RM) THAN CASH
15,000,000.00
ORDINARY 14,600,000 400,000
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
486
3 / 7
DIRECTORS/OFFICERS

Date of

68, JALAN SS 24/2
TAMAN MEGAH
MALAYSIA
47301 PETALING JAYA
SELANGOR

NO 9
JALAN PUTERI 8/10
BANDAR PUTERI
MALAYSIA
47100 PUCHONG
SELANGOR

BLOCK P LOT 10
TINGKAT 3
90009 SANDAKAN
SABAH

68, JALAN SS 24/2
TAMAN MEGAH
MALAYSIA
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
487
4 / 7

NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
488
5 / 7
COMPANY CHARGES






NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
489
6 / 7
COMPANY CHARGES



NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
490
7 / 7

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 53,871,156.00
Revenue : 659,853,470.00
Net dividend : -5,000,000.00
**END OF REPORT**
Dated : 18-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
491
1 / 6
Last Old Name : Nil
Company Number : 201501040914 (1166234-D)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

PETALING JAYA
SELANGOR
Postcode : 46200
Nature of Business : WHOLESALE OF COMPUTER HARDWARE, SOFTWARE AND PERIPHERALS

;COMPUTER CONSULTANCY;RETAIL SALE OF ANY KIND OF
PRODUCT OVER THE INTERNET
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
492
2 / 6

TOTAL
(RM) THAN CASH
5,000,000.00
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
493
3 / 6
DIRECTORS/OFFICERS

Date of

68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
47100 PUCHONG
SELANGOR

BLOCK P LOT 10
TINGKAT 3
90009 SANDAKAN
SABAH

68, JALAN 24/2,
TAMAN MEGAH,
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
494
4 / 6

200501009393 (686440-V) ADV FUSIONEX SDN. BHD. 2
200501009393 (686440-V) ADV FUSIONEX SDN. BHD. 4,999,998
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
495
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
496
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 564,583,863.00
Net dividend : -15,000,000.00
**END OF REPORT**
Dated : 18-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
497
1 / 6
Last Old Name : Nil
Company Number : 200801004565 (805849-P)

: PRIVATE LIMITED
Status : EXISTING

TOWER A, NO. 1
PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA
Business Address : LEVEL 12, PLAZA 33

TOWER A, NO. 1
PETALING JAYA
SELANGOR
Postcode : 46200
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
498
2 / 6

TOTAL
(RM) THAN CASH
5,000,000.00
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
499
3 / 6
DIRECTORS/OFFICERS

Date of

9, JALAN PUTERI 8/10
BANDAR PUTERI
47100 PUCHONG
SELANGOR

TAMAN MEGAH
MALAYSIA
47301 PETALING JAYA
SELANGOR
LIEW JEE MIN @ CHONG JEE MIN 590327-13-5461 DIRECTOR 01-04-2015

NO. 5
SOLOK BATAI LAUT
OFF JALAN BATAI LAUT
41300 KLANG
SELANGOR

BLOCK P LOT 10
TINGKAT 3
90009 SANDAKAN
SABAH

TAMAN MEGAH
MALAYSIA
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
500
4 / 6

200601024035 (743789-H) FUSIONEX CORP. SDN. BHD. 5,000,000
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
501
5 / 6
COMPANY CHARGES


NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
502
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 171,175,342.00
Net dividend : -15,000,000.00
**END OF REPORT**
Dated : 18-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
503
1 / 6
Last Old Name : Nil
Company Number : 201901022977 (1332306-H)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

PETALING JAYA
SELANGOR
Postcode : 46200

N.E.C.;ACTIVITIES OF HOLDING COMPANIES
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
504
2 / 6

TOTAL
(RM) THAN CASH
18,001,000.00
ORDINARY 1,000 18,000,000
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
505
3 / 6
DIRECTORS/OFFICERS

Date of

68, JALAN SS24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
47100 PUCHONG
SELANGOR

BLOCK P LOT 10
TINGKAT 3
90009 SANDAKAN
SABAH

68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
506
4 / 6

NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
507
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
508
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 57,501,850.00
Revenue : 780,916,819.00
Net dividend : -10,000,000.00
**END OF REPORT**
Dated : 18-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
509
1 / 6
Last Old Name : Nil
Company Number : 201701036440 (1250611-H)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

PETALING JAYA
SELANGOR
Postcode : 46200

N.E.C.
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
510
2 / 6

TOTAL
(RM) THAN CASH
155,000,000.00
ORDINARY 152,000,000 3,000,000
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
511
3 / 6
DIRECTORS/OFFICERS

Date of

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
MALAYSIA
47100 PUCHONG
SELANGOR

BLOCK P LOT 10
TINGKAT 3
90009 SANDAKAN
SABAH

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
512
4 / 6

NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
513
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
514
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 420,000.00
Net dividend : 0.00
**END OF REPORT**
Dated : 18-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
515
1 / 6
Last Old Name : FX SMART SOLUTIONS SDN. BHD.
Company Number : 201701041661 (1255834-V)

: PRIVATE LIMITED
Status : EXISTING

NO 1, JALAN KEMAJUAN, SEKSYEN 13
PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

SEKSYEN 13
PETALING JAYA
SELANGOR
Postcode : 46200

N.E.C.
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
516
2 / 6

TOTAL
(RM) THAN CASH
1,000.00
ORDINARY 1,000 0
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
517
3 / 6
DIRECTORS/OFFICERS

Date of

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
MALAYSIA
47100 PUCHONG
SELANGOR

BLOCK P LOT 10
TINGKAT 3
90009 SANDAKAN
SABAH

68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
518
4 / 6

- FUSIOTECH SOLUTIONS LIMITED 1,000
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
519
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
520
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 0.00
Net dividend : 0.00
**END OF REPORT**
Dated : 18-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
521
1 / 6
Last Old Name : FUSIONEX CLOUD SDN. BHD.
Company Number : 201701044551 (1258724-M)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

SEKSYEN 13
PETALING JAYA
SELANGOR
Postcode : 46200

N.E.C.
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
522
2 / 6

TOTAL
(RM) THAN CASH
50,000.00
ORDINARY 50,000 0
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
523
3 / 6
DIRECTORS/OFFICERS

Date of

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
MALAYSIA
47100 PUCHONG
SELANGOR

BLOCK P LOT 10
TINGKAT 3
90009 SANDAKAN
SABAH

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
524
4 / 6

201601023250 (1194189-U) FUSIONEX CONNECT SDN. BHD. 50,000
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
525
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
Tel: 03-2299 4400 Fax: 03-2299 4411
526
6 / 6

JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 4,794,085.00
Profit/(loss) before tax : 467,168.00
Net dividend : 0.00
**END OF REPORT**
Dated : 18-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
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527
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Last Old Name : Nil
Company Number : 201701036483 (1250654-P)

: PRIVATE LIMITED
Status : EXISTING

PETALING JAYA
SELANGOR
Postcode : 46200
Origin : MALAYSIA

PETALING JAYA
SELANGOR
Postcode : 46200

N.E.C.
NO. the originality
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528
2 / 6

TOTAL
(RM) THAN CASH
1,000,000.00
PREFERENCE 0 0
OTHERS 0 0
NO. the originality
7 JALAN of this 5,
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DIRECTORS/OFFICERS

Date of

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR

NO. 9
JALAN PUTERI 8/10
BANDAR PUTERI
MALAYSIA
47100 PUCHONG
SELANGOR

BLOCK P LOT 10
TINGKAT 3
90009 SANDAKAN
SABAH

NO. 68
JALAN SS 24/2
TAMAN MEGAH
47301 PETALING JAYA
SELANGOR
NO. the originality
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201701036440 (1250611-H) FUSIONEX TRADE SDN. BHD. 1,000,000
NO. the originality
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531
5 / 6
COMPANY CHARGES

NO INFORMATION
NO. the originality
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532
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JALAN DAMANLELA
50490
KUALA LUMPUR
WILAYAH PERSEKUTUAN

BALANCE SHEET ITEMS

Reserves : 0.00
Revenue : 6,590,482.00
Net dividend : 0.00
**END OF REPORT**
Dated : 18-12-2023
NO. the originality
7 JALAN of this 5,
KUALA LUMPUR portal
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533
534
535
536
537
538
539
540
541

9D Fusionex Trade SDN BHD - Interim Liquidator - 240110 - 113409

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9D Fusionex Trade SDN BHD - Interim Liquidator - 240110 - 113409

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BA-28NCC-732-12/2023

H0272101 BA1323229812 21/12/2023 14:38:35

In the Matter of Section 465(1)(a) and /or

FUSIONEX CONNECT SDN BHD

FUSIONEX TRADE SDN BHD

I, Hiroyuki Kumazaki, (Passport No: TR8827811) a Japanese citizen of full

3. I affirm this Affidavit in support of the Petitioner’s Summons in Chambers to:

4. I crave leave of this Honourable Court to refer to:

4.1. Petition dated 20.12.2023;

4.2. Affidavit Verifying Petition I have affirmed on 21.12.2023; and

4.3. The Petitioner’s Summons in Chambers dated 21.12.2023.

A. BACKGROUND FACTS – ACQUISITION OF THE FUSIONEX GROUP

5. The Petitioner is a company incorporated on 12.7.2016.

6. Presently, the Respondent is a wholly-owned subsidiary of the Petitioner. The

A copy of the company search of the Respondent is attached hereto and

9. As a result of the Acquisition, Fusiotech Holdings was incorporated, followed

12. Fusiotech Holdings became a wholly-owned subsidiary of Hitachi wherein

12.3. Chen Chiang (Director of Finance), who is believed to have close

12.4. Yuen Choong Lai (Chief Financial Officer (“CFO"));

12.5. Chua Yu Ye Johnny (Chief Operating Officer (“COO”)), who is believed

12.6. James Martin (Chief Technology Officer (“CTO”)), who is believed to

12.8. Sharin Veriah (Legal & Compliance); and

12.9. Yu Seng Huong Senior General Manager, Business Development &

A copy of the EY Entrepreneur of the Year 2014 top nominees’ announcement

B. IVAN AND LOCAL MANAGEMENT’S REFUSAL TO PROVIDE

Now produced is a copy of my email dated 24.6.2023 and my letter dated

17. On or around 28.6.2023, a member of Fusiotech Holdings' audit committee also

A copy of the email correspondence between Sharin and me dated 4.7.2023

19.2. In any event, SME Association of Malaysia has no power or authority to

21. On 18.9.2023, Hitachi’s nominee directors approved Fusiotech Holdings'

A copy of the recommendation is annexed hereto and marked as Exhibit P-12.

A copy of the correspondence with Sharin dated 31.10.2023 and 13.11.2023

C. HITACHI’S CONCERNS OVER THE FUSIONEX GROUP’S FINANCIAL

D. AC REQUEST FOR AUDIT WAS REJECTED BY IVAN, BASED ON SO-

A copy of the Resolution is annexed hereto and marked as Exhibit P-17.

A series of correspondence between Sharin and the nominee directors of

A copy of the list provided on 27.11.2023 is annexed hereto and marked

41. On or around 28.11.2023, the Local Management called for a meeting in

A copy of the email exchanges from 27.11.2023 to 28.11.2023 is annexed

E. ABRUPT RESIGNATION OF IVAN AND THE LOCAL MANAGEMENT

F. THE CURRENT STATE OF AFFAIRS OF THE RESPONDENT AND THE

44. On 7.12.2023, the nominee directors of Hitachi to Fusiotech Holdings together

A copy of the resignation letters of the personnel in the finance

A copy of the internal memo dated 8.12.2023 is annexed hereto and

44.6. To the best of my knowledge, a large number of staff had been

Department August September October November Total

44.8. Additionally, there were no proper records of the Fusionex Group’s

44.10. A set of finance ledgers relating to the Fusionex Group (dated

45. On 7.12.2023, I contacted Ivan to request for a meeting to discuss about

53. On or around 18.12.2023, Hitachi discovered through fresh company searches

53.1. FX Cloud Sdn Bhd;

54.1. the appointments were done surreptitiously without informing Hitachi or

54.3. despite having been appointed as a director of these companies since

G. MEETINGS ON 17 AND 18 DECEMBER 2023

55. On 16.12.2023 and 17.12.2023, I issued an announcement to all employees of

H. APPOINTMENT OF JOINT AND SEVERAL INTERIM LIQUIDATORS

(c) The Respondent is unable to continue carrying on its business in

I. REMUNERATION OF THE INTERIM LIQUIDATORS

Name : FUSIONEX CONNECT SDN. BHD.

Last Old Name : Nil

Date of Change : Nil

Company Number : 201601023250 (1194189-U)

Incorporation Date : 12-07-2016