Question: undefined a) BlackOrange Sdn. Bhd was established in 2016. The company owns more than 5 branches in Malaysia. In 2018, BlackOrange Sdn. Bhd had taken

undefined a) BlackOrange Sdn. Bhd was established undefined

a) BlackOrange Sdn. Bhd was established in 2016. The company owns more than 5 branches in Malaysia. In 2018, BlackOrange Sdn. Bhd had taken out a loan amounting RM 1,000,000.00 from AmBank Berhad in order to expand their business. In early 2020, their profit started to drop drastically due to covid-19 pandemic. The company also failed to pay the instalments and salary of the employee. AmBank Berhad had demanded the arrears of payment by serving the notice of demand to their company. Advice AmBank Berhad, whether they have the right and ground to apply for compulsory winding up against BlackOrange Sdn. Bhd? (15 marks) b) State all FOUR (4) procedures for winding up. (4 marks) c) Discuss the power of liquidators according to Companies Act 2016. (6 marks)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

A company purchases inventory during the year in 4 batches, with unit and price amounts shown below: Batch 1 - 9,500 units @ $2.10 per unit Batch 2 - 4,300 units @ 2.08 per unit Batch 3 - 3,600 units...

Specific subject : Taxation MYS - ACCA Section B - ALL SIX questions are compulsory and MUST be attempted QUESTION 1 (a) Star Sdn Bhd (SSB), a newly incorporated resident company involved in...

14. Donations comprise: RM 38,000 i) Cash donation to approved organisation in December 2018 ii) Donation of school computers to an orphanage (in kind) 12,000 50,000 Other information: For the Year...

Tax payer No. 1 - Amin Bin Adam (Self: Husband) A)EMPLOYMENT INCOME -Is a Chartered accountant working in Starcom Malaysia Sdn Bhd -Has been employed by the company since 1 January 2000 -Received a...

Based on your selected annual report: Compute all necessary ratios (10 marks)Discuss all relevant ratios affecting the overall performance of the business (10 marks)Decide as to whether you would...

NOTE: PLEASE BEFOR YOU ANSWER IT READ THE ARTICLE/CASE AND PLEASE EXPLAIN MORE YOUR ANSER THANKS. Introduction "Name" has been studying the Jabatan Audit Negara (National Audit Department [NAD])...

Can I have these answers ASAP related with taxation subject? BKAT 2013 - PRINCIPLES OF TAXATION TUTORIAL 5: CAPITAL ALLOWANCES PLANT AND MACHINERY, AND INDUSTRIAL BUILDING ALLOWANCE DATE OF...

Q1 (a) You are an audit manager of Morline & Co, a Public Accounting firm. The audit engagement partner, Joe Tan, has called you into his office to discuss a new audit client. You have been assigned...

1) a minimum of THREE (3) (challenging) discussion questions. 2) possible answers to the discussion questions. Decision on the Insurance Claim of a Stolen Power Generator On 15 March 2012, Azizan,...

Listed below are several transactions that took place during the second two years of operations for RPG Consulting. In addition, you learn that the company incurred advertising costs of $25,000 in...

Selected transactions during April between Swan Company and Bird Company are listed in Problem 5-4B. In Problem 5-4B. The following selected transactions were completed during April between Swan...

a company is considering two similar investment projects. One has an initial cost of $ 5 0 , 0 0 and the other an initial cost of $ 4 5 0 , 0 0 0 . Which evaluation method would be most appropriate

Use the following information to answer this and the following few questions: Trendy Company manufacturers and markets one product with the following related information: Sales price is $30 per unit....