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Kuat Kian has a successful construction firm. As he gets older, he decides to sell his firm. He is approached by Logan, who expresses interest
Kuat Kian has a successful construction firm. As he gets older, he decides to sell his firm. He is approached by Logan, who expresses interest in purchasing the firm and asks why the firm has been so successful. Kuat Kian replies that it is because: 'There are no other construction firms in this town. This business will make you a fortune. I believe the annual level of profit is around RM 1.6 million.' Logan asks his accountant. Gita, to verify Kuat Kian's stated level of profits. Gita confirms Kuat Kian's statement. However, the firm only makes around RM600,000 profit per year. Logan asks for a few weeks to think it over. Kuat Kian then discovers that a multinational construction firm is due to open an office close to his. He does not inform Logan of this. Logan agrees to purchase the firm and subsequently discovers the true level of profit and the opening of the rival office. Logan seeks your advice to his legal options
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