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Steven and Raju decided to set up their company to sell computer and computer peripherals. They went to Registrar of Company to register their company name. They decided to put their name as the company name. Steven decided that he will own 70% of the company shares while Raju will own the rest. In the company Memorandum of Associations the Authorized Capital of the Company is 2,000,000 Ordinary Shares of RM1.00 each. They decided to issue 500,000 shares. As at 31 December 2020, the issued shares were fully paid.
Problem a). What is their company name?
Problem b). Give one reason Steven and Raju decided to set up a company instead of Sole Proprietor or Partnership?
Problem c). How much is their paid-up capital as at 31 December 2020?
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