Question 1 Mr. Columbus and Mr. Alfred are the equal shareholder and director of Luxe Furniture Sdn Bhd. (LFSB) who run a leather furniture company which located in Damansara Perdana. Originally, Mr. Columbus solely ran the furniture company under his own name as a sole proprietor where he had taken up an insurance for the shop office and the furniture under his name. Mr. Columbus rent out the shop office to LFSB to run the business. A fire in a neighbouring lot damaged the shop office and LFSB want to claim for insurance for the shop lot and the furniture as the asset of the company from the insurance company. However, the insurance company refused to cover the damages as the fire insurance policies showed the insured as being the sole proprietor even though the insurance agency was well aware of the fact that the business was being carried on by the incorporated company. Advise FLSB as well as Mr. Columbus on this matter with the provision under the Companies Act 2016