Kuala Lumpur: Fifteen investors have filed a civil suit against businessman Goh Hwan Hua and four companies over their alleged failure to pay monthly redemption value sums from the investors’ outlay of about RM8 million.
However, Goh and the four companies, namely I-Serve Online Mall Sdn Bhd , Bright Moon Venture PLT , QA Smart Partnership PLT and Trillion Cove Holdings Bhd have filed an application to strike out the suit on the basis that the legal action was a nullity and an abuse of court process.They had also filed their statements of defence last year against the lawsuit brought by the investors — P. Ponnamal, A.
SPONSORED CONTENT Daily Express members: Enjoy 1 for 1 signature cocktails and more at Hyatt Centric Kota Kinabalu Kota Kinabalu: DAILY EXPRESS is partnering with Hyatt Centric Kota Kinabalu to offer an exclusive deal for our members. Read more In their statement of claim dated July 21 last year, the 15 plaintiffs claimed that the companies had failed to make the agreed-upon monthly payments from November 2021 to June 2022, despite having sent letters of demand through their solicitors.
The plaintiffs aged between 58 and 74, claimed that Goh as the co-founder and majority shareholder of MYAirline Sdn Bhd and the other four defendants had breached fiduciary duties and should be made personally liable over losses suffered by the investors.They contended that Goh, in issuing various notices and directives and holding conference calls with them, had made representations over ongoing issues faced by ISOM and the impact it would or would not have on the investors’ monthly returns.
They further claimed that ISOM, TCH, and the other firms were raided by Bank Negara Malaysia on November 11, 2021, and that a freezing order was allegedly issued against the companies.Thus, the plaintiffs are seeking repayment of the RM8 million subscription price as well as repayment of the owed monthly redemption arrears and five per cent annual interest on any awarded judgment sum.
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