The High Court has ruled that businessman Datuk Allan Goh Hwan Hua and four companies associated with him must repay over RM8 million to 15 investors who claimed they did not receive agreed monthly redemption payments and financing returns.
Justice Leong Wai Hong found that the plaintiffs had successfully proven their case against Goh and the companies: I-Serve Online Mall Sdn Bhd (Isom), Bright Moon Venture PLT (BMV), QA Smart Partnership PLT (QAS), and Trillion Cove Holdings Bhd (TCH). The court ordered repayment of RM7.61 million and S$170,000 (approx. RM558,500), with additional costs of RM100,000 to be paid jointly or severally.
The lawsuit, filed in 2022, alleged the companies failed to make monthly payments from November 2021 to June 2022, despite formal letters of demand. The investors, aged 58 to 74, claimed Goh, as co-founder and majority shareholder of MyAirline Sdn Bhd, had breached his fiduciary duties and should be personally liable for their losses.
Plaintiffs also highlighted that Goh had made various assurances through notices and conference calls regarding Isom’s financial issues. They further alleged that Isom, TCH, and other firms were raided by Bank Negara on November 11, 2021, and that a freezing order had been issued against the companies.
The investors are seeking repayment of the RM8 million subscription, outstanding monthly redemption arrears, and 5% annual interest on any awarded sum.
