Question
Zarif, Zarul, Hakim and Haikal were the directors of Megah Holding Sdn. Bhd. In March 2020, Hakim and Haikal entered into a transaction to sell
Zarif, Zarul, Hakim and Haikal were the directors of Megah Holding Sdn. Bhd. In March 2020, Hakim and Haikal entered into a transaction to sell the company's land in Batu Kawan for RM500,000 despite its actual value of RM1 million. The land was purchased by Haikal's brother. However, the information regarding this transaction was not disclosed to the company. Hakim and Haikal have also made a bad investment by purchasing a land located near a landfill in Butterworth for RM1 million. The decision was made without seeking the advice from Zarif and Zarul, and advice from the professionals was also not obtained. With reference to the Companies Act and decided cases, discuss the liabilities of the directors involved.
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