Question
Yuan is the Managing Director of a private company in Malaysia. His company needs to raise capital by issuing more shares. The company has, therefore,
Yuan is the Managing Director of a private company in Malaysia. His company needs to raise capital by issuing more shares. The company has, therefore, entered into an arrangement with a merchant bank, where the company is to sell its shares to the bank with the intention that the bank will then re-sell the shares to members of the public. Advise Yuan whether this arrangement breaches the Companies Act 2016, and Securities Commission Act 1993.
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