Adlin and Aman decided to form a company under the Companies Act 2016 with a paid-up capital of RM500,000 under the name of Panthera Sdn. Bhd. The company’s incorporation was registered on 1 May 2020. Panthera Sdn. Bhd. has passed a special resolution to adopt a constitution and the company’s object clause is manufacturing and selling computer and mobile phones accessories. Adlin and Aman were the only directors and shareholders of the company and Adlin was appointed as the Managing Director. According to the company’s constitution, Adlin, the Managing Director, has the absolute power to approve any decisions relating to the acquisition of the company’s property. Aman passed a resolution to approve the purchase of a shop house for the company to carry on new businesses i.e. of selling mobile phones and providing phone repair service. Advise Adlin whether the company may carry on the new businesses and whether he can rescind the purchase of the shop house.

Paid-up capital is the amount that is received after the exchange of shares with the shareholders of…

Answered: Advise Adlin whether the company may…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Adlin and Aman decided to form a company under the Companies Act 2016 with a paid-up capital of RM500,000 under the name of Panthera Sdn. Bhd. The company’s incorporation was registered on 1 May 2020. Panthera Sdn. Bhd. has passed a special resolution to adopt a constitution and the company’s object clause is manufacturing and selling computer and mobile phones accessories. Adlin and Aman were the only directors and shareholders of the company and Adlin was appointed as the Managing Director. According to the company’s constitution, Adlin, the Managing Director, has the absolute power to approve any decisions relating to the acquisition of the company’s property. Aman passed a resolution to approve the purchase of a shop house for the company to carry on new businesses i.e. of selling mobile phones and providing phone repair service.

Advise Adlin whether the company may carry on the new businesses and whether he can rescind the purchase of the shop house.

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