Answer to Question #327259 in Law for Vilo

Question

In January 2015, Radius Orange Sdn. Bhd was incorporated with a sole objective

of manufacturing and selling electrical products in Malaysia. Their company

directors namely Mr. Plum, Mr. Lemon and Dato' Ciku. In December 2019, a

meeting was held to approve a loan amount RM 1,000,000.00 to Dato' Ciku to

purchase a luxury condominium and a yacht for his position as a director.

Mr. Manggis, the secretary of the company, seeks your advice whether Radius

Orange Sdn. Bhd can provide such loan to Dato’ Ciku?

Issue,Law,Application,conclusion

This subject is company law