I went into partnership with 2 other high school friends in 2011, and signed a partnership agreement. Lets call them Ah Beng & Muthu



We thought that 3 persons will be safe because there will be check and balance, no 1 person can make all the decisions. Must need 3 parties to decide on something.

And we added this in the agreement:



Forgive the grammar coz he was from SRJKC.

The first year was ok. We took out our saving and put into the company. We did some trading, then earn some money. We promised not to touch the profit first, and keep it to grow the company. We still have our own job and did this as part of our side business.

That time we just wanted to have a little bit of side income, every year december can go memancing kat Tg Sepat, eat seafood and enjoy some time together like we did in school last time. We were very close friends.

To cut the story short, kalau tak menipu bukan
_______________
A) businessman
B) kawan baik
C) scammer
D) lalabeng

So when we made money on third year, Ah Beng said we can buy a cheap car to deliver the stuff. Just buy a small kancil will do, but finally he bought a proton FLX. At first i objected, but Muthu agreed. 2 against 1. They win.

Then this so-called company car was mainly used by Ah Beng even for his personal things, but the petrol, maintenance, upkeep etc. charge to company expenses. I felt unfair la, u get the benefit but we pay from the operation cost and diluted our net profit.

Muthu said nevermind coz Ah Beng did all the work, delivery and getting the stock from suppliers. Ah Beng put the key on table and pushed to me and said “ok, u do la this delivery. Take it. U do, Im ok one, u take the car”

Of course i can’t do coz i was busy with my day job. So again Muthu said nevermind la, we all work for the company.

Year 5, we really grew the business, and Muthu resigned to focus on the operation of the company while Ah Beng did the sales & marketing, sourcing etc. They both withdraw a higher salary from the business while I end up like a sleeping partner. We have our meeting every month to see what to improve the business.

By now our profit is in the range of 5 close to 6 figures after 5 years of setting up this company. A lot of hard work. If u ask what I contributed, it was the initial capital and occasional introduction of new customers. Daily operation and running of the company were mostly Ah Beng & Muthu’s work.

In 2016, Ah Beng and Muthu decided to buy over my share because i didn’t really do anything and they felt is it unfair to share a third of the profit with me. They can afford to pay me off my 33% and then cut me off from then on. I couldnt disagree coz it was 2 against 1 again.

But something happened. There was a problem with one batch of our stock and this affected some customers. We got some issues and need to replace the goods, and the stock were as good as junk. This caused the company to suffer losses.

Now they change their story. We are in this together. We built this together. Now i have to bear the losses together. Ok, they can still buy my shares but now the value is reduced because of the losses in 2016 to be a fraction of what i put in. And they say if i want to continue, pump in more money to rescue the business.

I declined and cashed out. My initial investment of 80k became like 20k only when i cashed out.

2017-2019 they happy happy coz business was back to normal. Both changed cars, go holidays.

Then 2020-2021 covid. Padan muka they close shop coz no business. Tuhan bayar cash.