PETALING JAYA: The number of Malaysians declared bankrupt last year fell 15.5% to 4,810 compared with 5,695 in 2022.
Nearly half of Malaysia’s bankruptcy cases are due to personal loans, which accounted for 2,225 cases last year. More men go bankrupt than women. Males made up 72.6% or 3,492 of bankruptcies last year while females comprised 27.4% of cases.Selangor recorded the most bankruptcies last year with a total of 1,249 cases, followed by the Federal Territories with 626 cases and Johor with 489 cases.
To help those affected by financial difficulties, the government last year expanded its programme to help bankrupt individuals.
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