Out-of-pocket investors have protested outside a gated community that is home to Goh Hwan Hua, co-founder of defunct MYAirline (MYM, Kuala Lumpur Subang). The 30 investors at the January 18 protest demanded that Goh face criminal charges.
Also on the protesters' radar were the Royal Malaysian Police and the Malaysian Anti-Corruption Commission, which continue to investigate Goh more than four years after investors raised concerns about his business activities. He has extensive business interests aside from MYAirline, which abruptly ceased operations in October 2023 after less than 12 months of flying.
The collapse of MYAirline is not directly connected with last week's protests. Instead, the investors are involved in an ongoing civil suit against Goh and four entities he is said to control. The lawsuit, filed in mid-2023, alleges that between November 2021 and June 2022, the entities, namely i-Serve Online Mall Sdn Bhd, Bright Moon Venture PLT, QA Smart Partnership PLT, and Trillion Cove Holdings Bhd, failed to make monthly repayments on a MYR8 million ringgit (USD1.8 million) loan.
Despite ongoing investigations and questioning, Goh has never faced criminal charges in connection with MYAirline or any of his other business activities. However, in 2022, Bank Negara Malaysia, the country's central bank, fined six Goh-connected companies MYR50 million (USD11.2 million) for illegal deposit-taking and money laundering. The fines were paid.
