With reference to the above Question 3(a), a Singaporean company i.e. MAI KIA SU Pte Ltd held a Google Meet discussion with HANG on the possibility of purchasing masks worth S$ 5 million ('project') for Singapore market. Can ZAID enter into discussion and agreement with MAI KIA SU Pte Ltd? Does ZAID have any authority to act on behalf of HANG and to supply masks to Singapore market? As an incentive to obtain the project, ZAID has transferred a sum of RM300,000 into the company's account of MAI KIA SU Pte Ltd. With approval from another director (Mr Yes-man) of ZAID, CEO of ZAID Mr Ibrahim had also, by way of investment, bought RM500,000 shares from MAI KIA SU Pte Ltd. One month later, the shares of MAI KIA SU Pte Ltd dropped and as a result ZAID suffered financial loss of RM500,000. Now, the Board of Directors('Board') of ZAID is considering civil action against both Mr Yes-man and Mr Ibrahim, CEO of ZAID. Advise the Board if they can do that under the Companies Act 2016.

(10 Marks)