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2 Bunga Jelita Sdn. Bhd. (Bunga Jelita) is a direct sale company and a distributor of various cosmetic and beauty products. Misha, the director of
2 Bunga Jelita Sdn. Bhd. ("Bunga Jelita") is a direct sale company and a distributor of various cosmetic and beauty products. Misha, the director of Bunga Jelita is also the majority shareholder, holds 70,000 shares whereas 30,000 shares were held by Aliza and Iqbal. The Board of Bunga Jelita is keen on raising more capital for the purpose of employing more agents and distributors to increase sales due to high demands from customers. It also plans to utilise the capital to repay its creditors and to expand and upgrade its warehouse and logistics network. Consider the following separate and independent situations whether Misha has contravened any provisions of the Companies Act 2016. (a) To raise more share capital, Misha offered 100,000 new shares to her cousins, Sarah and Karim and she subscribed for additional 20,000 shares to herself. Aliza and Iqbal were unaware of the new issue
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