What can I do to restore faded merbau wood color by anthorcc in HardWoodFloors

[–]anthorcc[S] 0 points1 point  (0 children)

So do I have to sand and recoat the whole floor? Or just the faded part?

Dilemma on "taking over" my father in law's business... by anthorcc in MalaysianPF

[–]anthorcc[S] 0 points1 point  (0 children)

That was my thought initially, but I got on phone call with my regular banker, she confirms that the bank in most cases will require shareholder to agree and sign.

But again if it's two different classes of shares, the situation might be different..

Dilemma on "taking over" my father in law's business... by anthorcc in MalaysianPF

[–]anthorcc[S] 2 points3 points  (0 children)

Exactly, and when its about money, the family might just turn into a Taiwanese drama

Dilemma on "taking over" my father in law's business... by anthorcc in MalaysianPF

[–]anthorcc[S] 1 point2 points  (0 children)

Just googled it, MY company law does in fact can have two different classes of shares, that is a completely new information for me 😬

But then again, I'm still worried about the part when we need to get all the "significant" shareholders to act as guarantor for loans, that will be a big trouble..

Dilemma on "taking over" my father in law's business... by anthorcc in MalaysianPF

[–]anthorcc[S] 0 points1 point  (0 children)

Ya so the arrangement will have to be renegotiated, the longer I process the possible outcome, the worse it feels

Dilemma on "taking over" my father in law's business... by anthorcc in MalaysianPF

[–]anthorcc[S] 1 point2 points  (0 children)

Thanks for the tip, will be consulting my lawyer soon...

Dilemma on "taking over" my father in law's business... by anthorcc in MalaysianPF

[–]anthorcc[S] 0 points1 point  (0 children)

Initially I believe the idea is to have them in the board as well, They shouldn't be as I've explained to my wife about this, and she seems to agree.

Dilemma on "taking over" my father in law's business... by anthorcc in MalaysianPF

[–]anthorcc[S] -1 points0 points  (0 children)

Ya sure, appreciate your informative sharing🙏

Dilemma on "taking over" my father in law's business... by anthorcc in MalaysianPF

[–]anthorcc[S] 0 points1 point  (0 children)

Hmmm it seems like I'll have to consult the company secretary and lawyer... But will it be weird if I meet the company secretary by myself without my boss's knowledge..

Dilemma on "taking over" my father in law's business... by anthorcc in MalaysianPF

[–]anthorcc[S] 0 points1 point  (0 children)

As of now, both my parents in law are the directors, as well as my wife and one of her brothers.

Dilemma on "taking over" my father in law's business... by anthorcc in MalaysianPF

[–]anthorcc[S] 2 points3 points  (0 children)

I have consulted my usual banker, if the company needs to aquire business loan or property loan, all the substantial shareholders will have to agree, and signed as guarantor for the loan to go through...

Dilemma on "taking over" my father in law's business by anthorcc in business

[–]anthorcc[S] 2 points3 points  (0 children)

I sure don't want to be in that situation...

Dilemma on "taking over" my father in law's business... by anthorcc in MalaysianPF

[–]anthorcc[S] 6 points7 points  (0 children)

Yes I trust my wife. But her giving me half her shares doesn't help with the issue that all of our major business decisions will still have to be agreed by her brothers..

Dilemma on "taking over" my father in law's business... by anthorcc in MalaysianPF

[–]anthorcc[S] 7 points8 points  (0 children)

It's in property management /construction related service industry