Business Research Essay

420 words - 2 pages

ABBL2043 Corporate LawTutorial 3 (week 4)1. Selera Jaya Bhd was incorporated as a company limited by shares in 1995. Selera Jaya Bhd's objects clause states that its sole object is the running of restaurants and a food catering business.Recently, Selera Jaya Bhd ventured into cane furniture and contracted with Rotan Sdn Bhd for the purchase of cane valued at RM200000. The cane will be delivered next month.Dagang, a minority shareholder, is unhappy with this new business venture and is threatening to apply ...view middle of the document...

He ensured that the clause in the Memorandum of Association regarding the restrictions on right to transfer shares, are prohibited from being amended or deleted.(i) Upon Grandpa Lai's demise, his grandson Billy wants to sell his shares to his girlfriend. He plans to alter the Memorandum of Association to allow him to do so. Advise Billy.(ii) XYZ Sdn Bhd had passed a special resolution to amend the Article of Association in order to expel Kelly, a shareholder of XYZ Sdn Bhd because she has incorporated a company for her mooncake making business. Kelly has filed a suit against XYZ Sdn Bhd challenging the validity of the amendment. Advise XYZ.3. Alpha and Omega Berhad is a company which is registered under the Companies Act. The company has as its sole object, the importing, exporting and sale of all kinds of plastic wares.The company wishes to extend its business to include also the importing and exporting of glass wares.Advise the company whether it could alter the company's objects for the purpose stated above.Whether it will face any legal problem if it enters into a contract with the Penang state Government to build a second link linking the island of Penang to the mainland.
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