Bernie, Barney and Brandy are directors of Gulung Tikar Sdn. Bhd. Bernie is also its Chief Operating

Officer. Each of the directors holds 30% of the shares in the company. Barbara holds the remaining

10%. At a Board of Directors meeting held on 1 March 2020, Bernie, Barney and Brandy have

decided to approve the following proposals:

(i) To pass a resolution to allow Brenda, Bernie's wife to purchase a shop house in Nilai

belonging to Gulung Tikar Sdn. Bhd. for RM150,000.00. The market value of the shop house

is RM500,000.00.

(ii) To increase director's remuneration by 100%.