Solid Cables Sdn. Bhd. was in financial difficulties. Soon Kit, Chief Executive Officer and Director of the company had arranged to sell one of the company's retail store to another company, Dreamwell Sdn. Bhd. at the price of RM500,000. Soon Kit knew that the market value of the retail store is actually RM700,000 but he wants to sold it at a lower price because one of Dreamwell Sdn. Bhd.'s shareholder and director is his son. He concealed this information with the two other directors of Solid Cables Sdn. Bhd., Mei Chan and Tiara. Mei Chan and Tiara approved the sale of the retail store to Dreamwell Sdn. Bhd., relying on Soon Kit who told them that RM500,000 was a good CONFIDENTIAL/3 FBA/PLD3123/APRIL21 price to sell the retail store and it could not get a better price from other buyer. They did not ask Soon Kit any question regarding the sale or made effort to seek second opinion from a third party regarding the market value of the retail store. Based on the above scenario, identify any TWO (2) breach of director's duties possibly committed by Soon Kit, Mei Chan and Tiara. Discuss the possible legal action that can be taken by Solid Cables Sdn. Bhd. against the directors and the remedies available to the company. Support your answer with provisions from Companies Act 2016 and decided case laws (if any). (20 marks) Solid Cables Sdn. Bhd. was in financial difficulties. Soon Kit, Chief Executive Officer and Director of the company had arranged to sell one of the company's retail store to another company, Dreamwell Sdn. Bhd. at the price of RM500,000. Soon Kit knew that the market value of the retail store is actually RM700,000 but he wants to sold it at a lower price because one of Dreamwell Sdn. Bhd.'s shareholder and director is his son. He concealed this information with the two other directors of Solid Cables Sdn. Bhd., Mei Chan and Tiara. Mei Chan and Tiara approved the sale of the retail store to Dreamwell Sdn. Bhd., relying on Soon Kit who told them that RM500,000 was a good CONFIDENTIAL/3 FBA/PLD3123/APRIL21 price to sell the retail store and it could not get a better price from other buyer. They did not ask Soon Kit any question regarding the sale or made effort to seek second opinion from a third party regarding the market value of the retail store. Based on the above scenario, identify any TWO (2) breach of director's duties possibly committed by Soon Kit, Mei Chan and Tiara. Discuss the possible legal action that can be taken by Solid Cables Sdn. Bhd. against the directors and the remedies available to the company. Support your answer with provisions from Companies Act 2016 and decided case laws (if any). (20 marks)