Min, Adi and Wim are the directors of Lapis Sdn Bhd, a company dealing in the export of timber. Last month, Min was sent to Taiwan on behalf of Lapis Sdn Bhd to negotiate a contra with a Taiwanese company. Unfortunately the negotiations were not successful, and it was made clear to that the Taiwanese company did not want to offer any contract to Lapis Sdn Bhd. Min reported this to the bard of directors upon his return. Two weeks later he registered a new company and managed to sec the contract with the Taiwanese company in his own name. He has made a very substantial profit from this contract. Lapis Sdn Bhd has now discovered this and wishes to sue Min for breach of fiduciary duty as a director and recover the profit he has made. Advise Lapis Sdn Bhd on the legal position.