Vincent subscribed to G Bhd's shares last month. He learned that the company has 8 directors, including
Question:
Vincent subscribed to G Bhd's shares last month. He learned that the company has 8 directors, including Gan, the Chairman of the Board of Directors and his son, Junior who is the managing director. The company has appointed Chong as its company secretary and Alex as the external auditor.
Recently, Vincent heard rumors that G Bhd is selling off its' factory to Jane, Gan's daughter at RM500,000.00. The market value of the factory is RM1,500,000.00. Till date, Vincent has not received any information from G Bhd concerning the disposal of the factory by the company.
1. Advise G Bhd whether the proposal to sell the factory is valid and what are the procedures required for the disposal of the factory under the Companies Act 2016.
2. Advise Vincent which are the two parties in the company who he could consult with, if he wished to verify the rumours. Explain who can appoint the two parties and their roles in the company respectively.