QUESTION 4 (25 MARKS) Alex was the Chairman and Managing Director of Dream Travel and Tour Sdn Bhd, a company he founded and in which he owned 60% of the shares. Alex was the main driving force behind the success of the company for over 20 years. He has a reputation for being an extraordinary business genius and a dynamic leader among the rest of the Board Alex is also the owner and principal shareholder of Oct Bus Services Sdn. Bhd. a company that provides a wide range of transport to Dream Travel and Tour Sdn. Bhd. In 2013, Alex arranged for a RM 100,000.00 unsecured loan from Dream Travel and Tour Sdn. Bhd. to Oct Bus Services Sdn. Bhd. Continued... SK BBL 2014 BUSINESS LAW 5 MARCH 2021 Michelle, the finance director, co-signed the documents and the cheque releasing the funds. Cynthia and Sara, the other Board members, were told about the loan but were not given an opportunity to vote on the matter. No provision was made as to how the loan was to be repaid and the debt still remains cutstanding At the end of 2018, Dream Travel and Tour Sdn. Bhd. began to encounter financial difficulties. Alex, in his usual dynamic way. persuaded the Board to buy a used space shuttle from Moonlight Sdn. Bhd., a company in which Alex's wife, Maggie is the principal shareholder, for RM7 million with a view of introducing space travel to Malaysians. Alex convinced the Board of the immense earning potential this could generate, and the Board, trusting in Alex's judgment, agreed to proceed with the transaction. Dream Travel and Tour Sdn. Bhd. was recently acquired by Holidaze Worldwide Sdn. Bhd, which has now discovered the above transactions Advise Holidaze Worldwide Sdn. Bhd. about the claims they have against Alex. Michelle, Cynthia and Sara and if there are any defences available. End of Paper