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Last year’s bankruptcy figures reveal a worrying trend that warrants closer attention
Malaysia recorded nearly 7,000 new bankruptcies over the past year, averaging about 19 individuals declared bankrupt every day.
Even more troubling is the scale of debt: over the past five years, more than 80% of those declared bankrupt owed at least half a million ringgit.
Data showed that 19,432 cases during this period involved debts ranging between RM500,000 and RM999,999, while 5.5% or 1,275 individuals owed more than RM1 million.
Economist Prof Emeritus Dr Barjoyai Bardai said the magnitude of these figures suggests that bankruptcies are not driven…