Professional Documents
Culture Documents
Prepared by :
Contents Pages
Acknowledgement 2
1.0 Introduction 3
2.0 Purpose 4
Appendices 92
Partnership Aggrement 95
1
Acknowledgement
Alhamdulillah, we are most grateful to Allah S.W.T for the completion of this
because it developed our passion and ability in creating new ideas on bussines field.
business plan to practice our ability and interests in different way instead of thinking
and memorizing theory and facts inside the classes. In addition, this business plan
business field.
Special thanks to our parents for giving us the financial support in completing
this bussines plan. The bussines plan have been prepared with the cooperation and
Miss Norhafizah binti Abdul Razak for her kindness in helping us during the process
of completion this work project. They have provided us with good services by givin
us useful information on business plan development. We are not able to complete all
We have met so many people on interviewing about this ideas and services
as well as expanding our internal skills to deal with people who are working in
problems that occurred during our research. As a results, we have produced our own
bussines plan which covers organization, marketing, operation, financial and other
2
1. Introduction
The name of the company is LISA, which stands for Little Intelligent System
Applications. The idea of getting this name of the company is from the technology
computers. The personal computers field are very closely related towards our ideas,
applications. Applications can be anything which outstanding the beauty and the
ability of the smartphone. Our ideas came to provide services towards our customers
LISA company are situated at the heart of the Shah Alam, Selangor, Laman
Glenmarie Jalan Juruwang A U1/A. The reason of choosing this places as our
business main location because there is highly demand of many shops, boutique
and many other industries on getting their own company applications as well as the
All of the LISAs partners has agreed that our business will begin to operate
on the 1st January 2016. Our target is to utilize the way people all around the world
having fun and utilize with their smartphone. According to research, people have
spent 8 billion US Dollar for paid applications for all smartphone platforms. This is
the reason why we choose this high revenues services as our proposed business.
ways. We use the concept of simplicity of user interfaces, ease of use and high
3
2. Purpose
As we all known, business plan is one of the tools that required to be prepared
in order to open the business. Bussiness plan is written documents which describe
opportunities target and strategies, and all of the manager ability and skills
building a successful business. It describe the path and direction of the company is
taking, the goals, where the company wants to be, how it implement its own method
There are many purposes of creating and developing and ideas, business
institutions.
controlling our business for the day to day management, budget, financial
Hopefully this business plan can be used to achieve target and gain a good profi
4
3. Company Background
Enterprise
Website www.lisadeveloper.com
E- mail info@lisadeveloper.com.my
5
Mission
aim to develop smartphone apps that can change the way people do their day to day
Vision
Our vision is to be one of the most innovative companies all around the world. We
believe technology can makes life better for everyone if it is used for a good
purposes.
Organizational Chart
6
Logo
The arrow of the logo is a symbols of precision and speed during the development of
applications.
Motto
7
SHAREHOLDERS
BACKGROUND
8
4. Background of Shareholders
9
4.2 Administration Manager
10
4.3 Marketing Manager
11
4.4 Operation Manager 1
12
4.5 Operation Manager 2
13
4.6. Financial Manager
14
5. Location of Business
5.2. Building
Type :Office
The reason of choosing this place as our main business location because it is situated within
high demand industries, boutique and shops. When there is high numbers of industries,
there is high demand of mobile application developments. Our customers are mostly came
from this field of people where they wants to create their own system, company mobile
applications, and softwares in order to improve the daily productivity of their own business.
15
MARKETING PLAN
16
6. Marketing Plan
strategies.
To gain respect and trust from our customer by fulfilling their needs and request.
In Little intelligent System Applications, we offer our very own of intelligent idea
on the design of the applications . One of the applications where all of the presidents
of the academic associations and clubs in universities have their own chances and
opportunities on advertising and promoting the activities they have organized in one
and only medium, LiSA. The end users of LiSA are the students, staff and lectures.
The students can review all of the activities of the clubs and academic associations
provided in their universities. The students can have direct communications between
the presidents and among other users of LiSAs Applications where there is short
forum boxes provided if there is minor problems or issues about the venues, date,
17
Table 6.2.1 Product description
Product Description
Easy to use
Features
Organize data collection activities with folders
18
6.3 Target market
Target market are also known as a group of customers or buyers that the
organization are trying to attract to use their service and buy their product. It is
important for our company to identify target market so that they can evaluate thus
predict the number of actual and potential customers in the market that would
actually use the service offered by the company since they will be the one who is
going to generate the sales and contribute to our company business. Other than that,
the importance of identifying the target market is so that we can estimate and do an
early estimation on weather our service is good enough to compete with other
competitors. This process is also known as the market opportunity analysis (MOA).
From the research done, we know that there are three general strategies used for
selecting the target market that are by appealing to the entire market with one
for other companies. To execute our business plan, we have decided to open our
first company in Shah Alam, Selangor. The place that we choose is nearby to the
industrial area and educational institution . So that, our clients can easily find and
doing business with us. This is the one of the ways to attract more customers.
19
6.3.2 Demographic Segmentation
easily to obtain. We are aiming at government tenders and private company such as
universities and colleges. Next, we also aim at new companies that they doesnt
20
6.4 Market size
6.4.1 Population 1
outlet to needed
(unit)
Companies
Institution
= 41 companies
21
6.5 Competitors
Dataran Prima,
and activities
Affordable cost
Provide service
Fast Delivery
22
Appandus Sdn. Bhd. once in a
lifetime
307, Block B,
Does not
Kelana Square,
provide
service.
Kelana Jaya, 47301
countries
Provide service
Malaysia.
23
6.5.2 Ranking of the competitors
Rank No Competitors
24
6.6 Market Share
25
6.6.2 Market share after the entry of LiSAs company.
Tiseno Integrated
37 1 502 200.00 3
Solutions Sdn. Bhd.
Techno Softwares
24 974 400.00 1
INTEGR Sdn. Bhd
Little Intelligent
(LiSA)
26
MARKET ANALYSIS BEFORE MARKET SHARE
25%
40% Tiseno Integrated Solution Sdn.
Bhd.
Appandus Sdn.Bhd.
27
6.7 Sales forecast
January 23 916.00
February 24 034.00
March 24 196.00
April 24 136.00
May 23 786.00
June 24 006.00
July 23 726.00
August 23 506.00
September 23 756.00
October 23 886.00
November 24 026.00
28
December 24 026.00
29
6.8 Market strategy
organization. This strategies help to compete our organization with other competitors
to offer good service from our business. Our business also provides reasonable fees
to our customer in terms of satisfy their needed. With these strategies, it helps to
easier to notice and avoid problem that might occur in our organization. Marketing
strategies is also a key idea to deliver customer satisfaction yet provide business
which each of these parts have their own roles to market our business.
Pricing strategies
Place Strategies
Promotion strategies
mobile applications for our customers which are from education organization. Some
strategies can be included in doing this plan. Our company is very sensitive about
service that we are offered to our customer either our services achieve their
satisfaction or not. We will surely give our best services in order to maximize target
30
Our services will always consistent from start and continuously to our
customer. In addition, the fees of the designing are all reasonable with the best
service that we provide to our customer. We also provide a good designer and
programmer team to design and provide our customer education associations mobile
our competitor in order to get more customers. After sales services, we always
follow-up our customers satisfaction whether it has a problem or not. This technique
can also minimize problem that might happen to our relationship with customers.
design that we have design to our customer. This can also attract more customers to
come to our firm. We design many types of education mobile application in this
service and we can guarantee the price and services are very reasonable. After a
year we had open our business, we will give discount according to our forecasting
sales. This plan can help our company in getting more customers, thus, can
maximize market size in our company. The price that we had set up is also
compatible to our competitors price. This is because, if they aim to something price,
we can be aiming at lower price from them in order to attract more customer in
joining our service. We also will set a price according to the demand of the design.
Glenmarie, Jalan Juruwang A U1/A, Shah Alam, Selangor Darul Ehsan. This place
was near at education centre, this is because, if there are near at education centre in
31
this area which in the same time our major market, it is easier for us to attract more
customer in attend this service and achieved high market size. Customer can also
dissatisfaction in our services. Other than that, they can also find answer to their
curiousness. They can also see the entire project that we had done in our service if
they are intend to get more design and wants to add other subject in these services.
our new business to people out there, whom does not know about our existing
services.
6.8.5.1 Website
website. With this plan, we can inform many people about our company background
when they visit our page. They can have a better understanding about what our
company does. They can also view our previous work that we compile in our
website.
32
6.8.5.2 Business Card
We also had a business card to enable customers to deal with us easily. This
card completed with companys name, logo, address, contact number and email
address. Managers who want to disseminate to the customers and friends can use
33
6.8.5.3 Signboard
A signboard will be placed in front of our company building so that people who
are passing by will be alert and noticed about the business that we are running. This
signboard also be design attractively using bright color. Beside that we also will be
34
6.9 Manpower Planning
Position No of Personnel
MARKETING EXECUTIVE 1
Marketing executive
Organize and analyze market research and surveys
35
6.11 Schedule of Remuneration
Personnel
Marketing
1 1 500.00 165.00 7.75 1 672.75
executive
36
6.12 Marketing Budget
Monthly Other
Fixed
Expenses Expenses
Assets
Item
(RM)
(RM)
(RM)
Fixed Asset
Signboard 1000.00
Marketing Manager
Other Expenses
Business Card
(RM 30 x 6) 180.00
Poster 100.00
Bunting 100.00
37
TOTAL 1000.00 1672.75 380.00
38
OPERATIONS PLAN
39
7 Component of Operating Systems
are put into a system (such as an economy, manufacturing plant, computer system)
to obtain a desired output. Inputs are classified under costs in accounting. For our
company, our resources is people which is client. General manager meet the client
A transformation process is activity that take one or more input then produces
an output for customers. General manager transform information gathered from the
clients to the programmer. In this process, programmer will take all the information to
clients.
7.1.3 Output
product or services. For our services, programmer produced the application . The
output will be produced based on all the clients requirement. Programmer will test
the output first to make sure all the clients requirement are needed.
40
7.1.4 Feedback
and others used as a basic for improvement. Usually, consumer will give their
feedback after using a product by rating the product in order improvement. Client
give feedback according to satisfy of using the application. And all the feedback will
designer they should design their company uniquely in order to ensure the customer
41
7.2.1 Symbol of Process Chart
42
7.2.2 Process flow chart
for this kind of services. There are 3 users provided for this applications, which are
student, admin and staff. For the staff, they are able to modify (add any events,
activities or additional details for end users). Besides, student are able to view all of
the activities provided by admin. The admin came represent each of the associations
or club presidents.
43
7.2.2.1 Activity chart
44
7.2 Operations Layout
Door
Design (whiteboard)
45
7.3 Production Planning
12
= RM 23961.67
4500
= 5.325 @ 5
Machine No of machine
MSI Notebook 1
46
7.4.2 List of machine supplier
Machine Supplier
MSI Notebook MSI , Plaza Low Yat, No 7 Jalan Bintang, Off Jalan Bukit
47
7.4.3 Machine and Equipment (rental or purchase
List of equipment
(RM) (RM)
Android studio 1 - -
Xampp 1 - -
TOTAL 5358
48
Others
(RM) (RM)
TOTAL 14.00
49
7.5 Manpower Planning
workers)
(Operational executive
I) programmer
50
7.5.2 List of Operation Personnel
Position No of personel
Operational executive 1
Designer 1
Programmer 1
Operational executive Ensure that the achievement and to achieve the set
standard
design
51
illustrations, company logos, and Internet websites.
programming personnel.
coding.
52
7.7.4 Schedule of remuneration
(11%)
(RM)
Executive
Total 3903
53
7.8 Overhead requirement
(RM)
1 Maintenance 1000.00
TOTAL 1000.00
overhead)
= RM 3903 + RM 1000
= RM 4903
54
7.10 Cost per unit
= 4903
= RM 980.60
Business hour = 8 hours per day (8.00 a.m until 6.00 p.m)
Operating hour = 8 hours per day (8.00 a.m until 6.00 p.m)
55
7.12 License, permits and regulations required
Corporation of Malaysia
(MyIPO)
Total RM 1500
56
7.13 Operations Budget
Expenses
Expenses
(RM)
(RM)
Fixed Asset
Monthly Expenses
Wages 3903
Maintenance 1000
Marker 12
Other expenses
Duster 2
Patent 1500
57
Total (RM) 5358 4915 1502
Total(RM) 11775
58
ADMINISTRATION
PLAN
59
Introduction
Email : lisa@gmail.com
Website : www.lisadeveloper.com
regarding the management of the internal affairs of the business. Administration plan
will lead to a better systematic flow of operation within the organization and aims to
achieve a good quality of service to customers. The company of ours which is Little
intelligent System Applications is managed by six managers which are lead by the
general manager. The respective managers are Amirul Asyraf bin Ahmad Tarmidi
Hafizuddin bin Mohammad Shafawi (Marketing Manager), Ammar Syatbi bin Abu
Hassan (Operation Manager 1), Fatin Rasyidah binti Rosli (Operation Manager 2)
of every department including workers. This has been summarized through job
designation table and job description at the upcoming pages. Employees incentive
had also been included in the administration plan to ensure the employees receive
60
Objectives
We use the SMART concept to make sure we achieve the goal and our target on
UiTM.
not.
61
8. Administration Plan
GENERAL MANAGER
MUHAMMAD HAFIZUDDIN
NORNADIA BINTI KASIM BIN MOHAMMAD SHAFAWI
OPERATIONAL EXECUTIVE
II
62
8.2 Manpower Planning
Position No of Personnel
General Manager 1
Operational Executive 2
Administration Executive 1
Marketing Executive 1
Financial Executive 1
Total 6
63
ideas to improve the business.
Administration Executive
Controlling and handling the staff salary.
Marketing Executive
Organize and analyze market research and surveys
and generate report on services.
Operational Executive
Ensure that our staff are able to provide good
64
services by preparing all materials required.
Financial Executive
Preparing annual account and advisor in financial
aspects.
y Salary
(RM) (RM)
(RM)
(11 %)
(A)
(B) (A)+(B)+(C)
65
Financial Executive 1 1700.00 187.00 9.25 1896.25
(RM) (RM)
66
Printer 2 172.00 344.00
67
Key Lock 1 10.00 10.00
TOTAL 9497.00
68
Table 8.5.2 List of Office Supplies
69
Thumbtack(1 Box) 2 1.50 3.00
Total 291.60
70
8.5 Administration Budget
Fixed asset
Monthly expenses
Utilities 500.00
Other expenses
Deposit 7500.00
Stationeries 291.60
Licence 240.00
TOTAL 27368.85
71
FAX DESK
PAN
STAFF DESK
PRA
RO
TO
MEETING ROOM
RECEPTIONIST
OPERATIONAL
DESK
ROOM
72
FINANCIAL PLAN
73
9 Financial Plan
LISA
74
LISA
Tax Rates
2016 26%
2017 26%
2018 26%
20%
20%
75
Annual Increase in Working Capital (if any)
2017 5%
2018 10%
0%
0%
Tax Rates
2016 26%
2017 26%
2018 26%
20%
20%
76
9.2 Project Implementation Cost and Sources of Finance
LISA
ENDING INVENTORY OF FINISHED GOODS & WORK-IN-PROGRESS ENDING INVENTORY OF RAW MATERIALS
Estimated % of Inventory on Sales 2.0% Estimated % of Inventory on Purchases 0.0%
End of 2016 5,740 End of 2016 -
End of 2017 6,343 End of 2017 -
End of 2018 7,294 End of 2018 -
7,294 -
7,294 -
77
LISA
LISA
Own Contributions
Capital Expenditure Cost Loan Hire-Purchase
Cash Existing F. Assets
Land & Building -
office equipment 9,497 9,497
Signboard 1,000 1,000
-
-
-
-
-
-
Operation Equipments 5,358 5,358
-
-
-
Working Capital
Sales & Marketing Costs (monthly) 1,673 1,673
General & Administrative Costs (monthly) 9,840 9,840
Operations & Technical Costs (monthly) 4,915 4,915
Pre-Operating & Incorporation Costs (one-off) 9,620 9,620
Other Expenditure (annually) 294 294
Provision for Contingencies 4,190 4,190
TOTAL 46,387 46,387
Proposed Terms of Loan (if required) Proposed Terms of Hire-Purchase (if required)
78
9.3 Fixed Asset Depreciation Schedule
LISA
Type of Fixed Asset office equipment Type of Fixed Asset Signboard
Cost (RM) 9,497 Cost (RM) 1,000
Depreciation Method Straight Line Depreciation Method Straight Line
Economic Life (yrs) 3 Economic Life (yrs) 3
Annual Accumulated Annual Accumulated
Year Book Value Year Book Value
Depreciation Depreciation Depreciation Depreciation
- - 9,497 - - 1,000
2016 3,166 3,166 6,331 2016 333 333 667
2017 3,166 6,331 3,166 2017 333 667 333
2018 3,166 9,497 0 2018 333 1,000 0
2019 0 0 0 2019 0 0 0
2020 0 0 0 2020 0 0 0
2021 0 0 0 2021 0 0 0
2022 0 0 0 2022 0 0 0
2023 0 0 0 2023 0 0 0
2024 0 0 0 2024 0 0 0
2025 0 0 0 2025 0 0 0
79
9.4 Loan and Hire Purchase Depreciation Schedule
LISA
LISA
80
LISA
46,387 0 0
0 0 0
23,917 23,917 23,917 23,917 23,917 23,917 23,917 286,999 317,134 364,704
0 0 0 0 0 0 0 0 0 0
23,917 23,917 23,917 23,917 23,917 23,917 23,917 333,386 317,134 364,704
9,620
1,673 1,673 1,673 1,673 1,673 1,673 1,673 20,073 21,077 23,184
9,840 9,840 9,840 9,840 9,840 9,840 9,840 118,083 123,987 136,386
4,915 4,915 4,915 4,915 4,915 4,915 4,915 58,980 61,929 68,122
294 308 339
15,855 - -
0 0 0 0 0 0 0 0 - -
0 0 0 0 0 0 0 0 - -
0 0 0 0 0 0 0 0 - -
0 0 0 0 0 0 0 0 - -
0 0 0 0 0 0 21,363 21,363 27,182 34,161
16,428 16,428 16,428 16,428 16,428 16,428 37,791 244,267 234,484 262,192
7,489 7,489 7,489 7,489 7,489 7,489 (13,874) 89,119 82,651 102,512
58,061 65,550 73,039 80,527 88,016 95,504 102,993 0 89,119 171,769
65,550 73,039 80,527 88,016 95,504 102,993 89,119 89,119 171,769 274,281
2016
CASH INFLOW
46,387
Capital (Cash)
Loan 0
Cash Sales 23,917 23,917 23,917 23,917 23,917
Collection of Accounts Receivable 0 0 0 0 0
CASH OUTFLOW
81
Total Cash Total Cash Ending
Inflows Outflows Balance
2016 333,386 244,267 89,119
2017 317,134 234,484 171,769
2018 364,704 262,192 274,281
0 0
0 0
2016
82
9.5 Proforma Cashflow Statement
LISA
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER
83
2018
2017
2016
84
9.6 Proforma Income Statement
LISA
PRO-FORMA INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER
Expenditure
Pre-Operating & Incorporation Expenditure 2,120
General & Administrative Expenditure 118,083 123,987 136,386
Sales & Marketing Expenditure 20,073 21,077 23,184
Operations & Technical Expenditure 58,980 61,929 68,122 #VALUE! #VALUE!
Depreciation of Fixed Assets 5,285 5,285 5,285 #VALUE! #VALUE!
Other Expenditure 294 308 339
Operating Income 82,165 104,548 131,388 #VALUE! #VALUE!
Interest on Hire-Purchase
Interest on Loan
Net Income Before Tax 82,165 104,548 131,388 #VALUE! #VALUE!
Income Tax 21,363 27,182 34,161 #VALUE! #VALUE!
Net Income After Tax 60,802 77,366 97,227 #VALUE! #VALUE!
Total Expenditure
Total Sales Net Income
85
2018
Net Income
Total Expenditure
2016
Thousands
86
9.7 Proforma Balance Sheet
LISA
PRO-FORMA BALANCE SHEET AS AT 31 DECEMBER
Inventory 0 0
Accounts Receivable
Cash Balance 89,119 171,769 274,281
Other Current Assets
89,119 171,769 274,281
Owners' Equity
Capital 46,387 46,387 46,387
Accumulated Income 60,802 138,167 235,395
107,189 184,554 281,781
Long-Term Liabilities
Loan Balance - -
Hire-Purchase Balance
- - -
Current Liabilities
Accounts Payable
Loan Due Within Current Year
Hire-Purchase Due Within Current Year
Other Current Liabilities
Total
SUMMARY Total Assets Total Equity
Liabilities
87
2018 EQUITY
LIABILITY
ASET
2017
2016
Thousands
88
9.8 Financial Ratio Analysis
9.8.1Liquidity Ratios
LIQUIDITY
1 1
1 1
1 1
0 0
0 0
0 0 0 0 0 0 0 0 0 0
0 0
2016 2017 2018 2019 2020 2016 2017 2018 2019 2020
9.8.2Efficiency Ratios
EFFICIENCY
1 1
1 1
1 1
0 0
0 0
0 0 0 0 0 0 0 0 0 0
0 0
2016 2017 2018 2019 2020 2016 2017 2018 2019 2020
89
9.8.3Profitability Ratios
PROFITABILITY
57% 57%
60% 60%
30% 30%
20% 20%
10% 10%
0% 0% 0% 0%
0% 0%
2016 2017 2018 2019 2020 2016 2017 2018 2019 2020
90
9.8.4Solvency Ratios
FINANCIAL LEVERAGE
Debt to Equity Debt to Assets
100% 100%
80% 80%
60% 60%
40% 40%
20% 20%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0%
2016 2017 2018 2019 2020 2016 2017 2018 2019 2020
0
0 0 0 0 0
0
2016 2017 2018 2019 2020
91
APPENDICES
92
Diploma in Computer Science,
85009 Segamat,
___________________________________________________________________
Lecturer of ENT300,
Segamat Campus,
85009 Segamat,
Madam,
Allude to the subject stated above, we would like to submit the proposal of our final
requirements given according to the subject related. This bussines plan is build up to
93
serve as a guide and prototype for a business proposed deal which covers the top
3. We are hoping that our bussines plan that we recommended does fulfill your
obligations. If there are any error or lack in any part are fully depends on us. In
4. Thank you for all of your guidance and time to go through and analyze our
business plan. We are hoping regarding towards our efforts that you will approve this
Your sincerely,
---------------------------------------
General Manager,
94
PARTNERSHIP
AGGREMENT
95
DATED 1ST DAY OF JANUARY 2015
BETWEEN
AND
AND
AND
AND
AND
***************************************************************
PARTNERSHIP AGREEMENT
***************************************************************
96
PARTNERSHIP AGREEMENT
BETWEEN
Jalan 7/6B, Seksyen 7 Shah Alam Selangor. (hereinafter called ASYRAF) of the
one part;
AND
No. 510, Tingkat 4 Blok 8, Jalan Plumbum 7/95 Seksyen 7, 4000 Shah Alam,
AND
18/8A, Seksyen 18, Shah Alam, Selangor (hereinafter called AMMAR) of the
third part;
97
AND
FATIN RASYIDAH BINTI ROSLI (I/C No : 840404-01-4567) of No. 22, Jalan 7/20,
AND
Plumbum, Seksyen 7, 40000 Shah Alam (hereinafter called NADIA) of the fifth
part;
AND
98
(hereinafter shall collectively be referred to as the Partners)
WHEREAS :-
A. The parties hereto are currently the partners to a business entity known as
1956 and having its address at Laman Glenmarie, Jalan Juruwang A U1/A,
(RM86,000.00) only.
D. The parties hereto hereby agree to set out and regulate the terms and
99
NOW IT IS HEREBY AGREED as follows :-
the Partners from time to time may approve (hereinafter referred to as the
Demised Property).
This Partnership Agreement shall have full force from the date of this
hereinafter specified.
3.1 The Partners shall immediately after the signing of this Agreement pay
100
NAME EQUITY CONTRIBUTION EQUITY CONTRIBUTION
(%) (RM)
Ahmad Tarmidi
Muhammad
Hassan
18 15480
Rosli
12 10320
Ahmad
15 12900
101
3.2 ASYRAF and AMMAR shall be the signatories to the Partnership
Account.
3.3 Any payment out of the partnership account shall have been first
Partnership Business.
3.5 The Partners shall properly keep all books of account of the
3.6 All the working staff will be appointed by both Partners, and their
wages and salaries and other emoluments will be fixed in the same
way.
4.1 Each of the Partners shall be entitled to the Partnership Business profit
contribution as specified in clause 3.1 herein and shall also bear all
4.2 The Partners shall direct the Accountant in pursuant to Clause 3.4
and prepare a yearly balance sheet and profit and loss account and
share of profits.
4.3 All the balance sheet and profit and loss account and share of profits as
stipulated in Clause 4.2 herein shall upon its completion be signed by the
102
manifest error shall be found therein within one (1) month in which case
5.2 The Partners shall be entitled to draw out of the Partnership Account
5.4 In the event the account taken by the Accountant appears that any
6.1 Each Partner shall be just and faithful to the other Partners and shall
6.2 No Partner shall without the consent of the other Partners enter into
any contract, engage in any business other than that of the Partnership
103
Business or become bail or surety for any person or lend any
bill of exchange.
6.3 In the event of any Partner shall engage in any other contract or
herein without the consent of the other, the Partner who unilaterally
liable for such contract or acts and fully indemnify the other Partners in
the event the other Partners is held to be liable for such contract or
acts.
6.4 In the event the Partners intend to engage employees, agents or any
6.5 The Partners shall be jointly responsible and liable for the rental of the
as attached herewith.
provided, shall :-
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c) Render true accounts and full information of all moneys affecting
Business.
g) Every party shall account for the profit earned from any transaction
Partners not less than three (3) months notice in writing and agreed
Partner or by order of the Court, the Partner whom notice was given or
such order was made as the case may be, may within fourteen (14)
days from the giving of such notice or within fourteen (14) days from
such death or bankruptcy or the making us such order as the case may
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the Partnership Business wound up pursuant to the provisions of the
the net value thereof as agreed between the Partner giving notice
and the Vendor jointly in writing and in agreeing or assessing the net
value of such share the goodwill of the Partnership shall be taken into
account.
in equal shares.
7.4 On the purchase by a partner of the share of the other partner pursuant
to Clause 7.2 herein the purchase money shall be paid by the partner
7.5 If a partner desire to retire from the Partnership Business he shall give
to the other partners at least one months written notice to that effect
and shall on the expiration of the said notice period be deemed to have
7.6 If a partner retires from the Partnership Business the retired partner
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7.7 The dissolution of the Partnership Business or the purchase of the
Business under the trade name LiSA, unless all the Partners mutually
9.0 ILLEGALITY
unenforceable, the remaining provision shall remain in full force and effect.
10.0 ASSIGNMENT
Neither this Agreement nor any rights granted hereunder may be assigned
10.0 TIME
Agreement.
12.0 NOTICE
writing and shall be served by either of the partners hereto on the other
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addresses as herein contained and if sent by post shall be deemed to be
served three days after the date of posting and shall take effect thereon.
14.0 INTERPRETATION
a) Words importing the singular number shall include the plural and vice
versa.
b) The headings to the Clause are for ease of reference only and shall not
c) Words importing the masculine gender shall include the feminine and
All legal fees and disbursement incurred or to be incurred for the preparation
herein.
IN WITNESS WHEREOF the parties hereto have hereunto set their hands the day and
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SIGNED AND DELIVERED by )
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