KOTA KINABALU: The Malaysian Department of Insolvency (MDI) is seeing increases in bankruptcy cases for the past few years.
A total of 8,543 active cases were recorded in Kota Kinabalu at the moment, where 688 cases were recorded last year alone.
Bankruptcy is a process where a debtor is declared a bankrupt pursuant to an Adjudication Order made by the High Court against the debtor if he or she is unable to pay his debts of at least RM30,000.
State Insolvency Office director Monica Linsua said there were three MDI branches in Sabah, namely Kota Kinabalu, Sandakan and Tawau.
In Kota Kinabalu, we cover from Kudat to Kota Belud, up to Ranau and Papar. The number of bankrupts is increasing every year.
In 2012, 372 cases were reco…
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