Hi Mira! How are you? It's been such a long time since I last heard from you. You did not turn up at our faculty's golden jubilee celebration. That was where I heard that you are now a very successful company secretary. Congratulations!

Since you are an expert, I really would like to ask your opinion. A group of us, remember the JOLIE breakdance group.....ahhh...the sweet old days. We are trying to reminisce our good old days by setting up a business. We are thinking of setting up a business that relates to supplying car accessories as all of us are now very enthusiastic about cars. Osman has suggested that we set up a partnership as it is easier. However, Leman is not keen on establishing a partnership as it is risky. Izwan has suggested that we all should form a company- so that he can become the so-called managing director. Izwan has further suggested that all of us can be the directors and you are to be our first company secretary. In a way....I sort of agree with Izwan's suggestion. I think "JOLIE" would be a nice name for our business entity as it reflects our group. However, Izwan has suggested that "PENJANA" would be a better name instead of "JOLIE". Eman, on the other hand, remains as the same Eman you used to know. He will just agree with anything you put forth. Osman and Leman are very sceptical about forming a company as it is costly and none of us knows how to set it up.

For the old-time sake, I really hope that you can assist us in explaining which business entity suits us and its procedure.

Required:

Advise Joni Depp on the most appropriate business form with regards to the above requirements (CHOOSE ONLY ONE TYPE OF BUSINESS ENTITIES)