Abang Sdn Bhd owns 75% of shares issued by Adik Sdn Bhd. Danny, a shareholder in Abang Sdn Bhd is planning to retire early and would like to dispose of all his shares to any interested party. Discuss, with relevant support, whether Danny may:

1. sell his shares to existing shareholders of Abang Sdn Bhd. (5 marks)
2. sell his shares to existing shareholders of Adik Sdn Bhd. (5 marks)
3. sell the shares to his daughter at market price, financed by loan provided by Abang Sdn Bhd.

Answer rating: 100% (QA)

Selling shares to existing shareholders of Abang Sdn Bhd YesDanny may sell his shares to existing shareholders of Abang Sdn BhdUnder Section 176 of the Companies Act 1967a shareholder in a company has ... View the full answer