Over 64,000 Malaysians Declared Bankrupt Since 2013
Author Avatar


Over 64,000 Malaysians Declared Bankrupt Since 2013
(Image: The Malaysian Reserve)

Minister in the Prime Minister’s Department, Datuk Liew Vui Keong told Parliament that a total of 64,632 Malaysians between the ages of 18 and 44 have been declared bankrupt over the last five years.

Datuk Liew Vui Keong said the statistics provided by the Insolvency Department revealed the following figures of people being declared bankrupt:

Year People Declared Bankrupt
2013 13,036
2014 13,098
2015 11,277
2016 11,875
2017 11,106
2018 (until April) 4,240

The Minister in the Prime Minister’s Department added poor financial planning and insufficient financial management could be the reasons for the high number of bankruptcy cases in the country.

“The government, via the Insolvency Department, is committed to carrying out awareness programmes regarding bankruptcy to the people and its outreach programme with other government ministries, agencies and bodies,” he said

Datuk Liew Vui Keong said the Credit Counselling and Debt Management Agency (AKPK) would also carry out its initiatives to reduce the number of bankruptcy cases.

(Source: The Star)


0 0 votes
Article Rating


Comments (0)

Notify of
Inline Feedbacks
View all comments
Top Debt Management Articles
Post Image
Things You Didn’t Know Can Help Reduce Your Credit Card Payment
Desiree Nair
- 14th March 2017
We’ve got a few ideas up our sleeves to help you bring down that bill and possibly even make future payments much more affordable!
Post Image
Cash Advance on Your Credit Card? Here’s What You Need to Know.
Diana Chai
- 5th July 2019
There are days when you need cash on the double and most (if not all) credit cards have this option. But before you run to your ATM; here are some things to think about.
Post Image
Best Balance Transfer Plans In Malaysia (February 2022)
Alex Cheong Pui Yin
- 22nd February 2022
(Article updated on 22 February 2022.) Even during regular days, credit card balance transfer programmes are a good […]
Post Image
Public Bank Extended Moratorium: Flexible Arrangements To Reduce Loan Instalments Until End-2021
Jacie Tan
- 7th August 2020
Public Bank has released the details of its Covid-19 assistance for those who will still be in financial […]

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image