Section 228 of the Companies Act 2016 (s.228 CA2016) is intended to prevent asset-stripping by way of disposal of compan

[answerhappygod]

Section 228 of the Companies Act 2016 (s.228 CA2016) is intended
to prevent asset-stripping by way of disposal of company’s assets
at an undervalue, or acquisition of assets by the company at an
overvalue. The type of transactions under the Bursa Malaysia
Listing Requirement (BMLR) are also wider in scope than s.228,
CA2016.
TYT Berhad (TYT), a listed issuer, intend to acquire from specified
persons a non-cash asset of a requisite value. As the Governance
Officer of TYT:
(a) Explain who are the specified persons. Elaborate in detail the
composition of such persons which CA2016 and BMLR apply.
(30 marks)
(b) Discuss types of transactions which are considered as “exempted
transactions” as provided in CA2016.
(10 marks)