This article first appeared in The Edge Malaysia Weekly on April 27, 2026 – May 3, 2026
By raising the bankruptcy threshold from RM50,000 to RM200,000, the government has probably spared many individuals from being declared bankrupt.
Last week, Economy Minister Akmal Nasrullah Mohd Nasir also said Putrajaya is looking at providing a “second chance” to four target groups, namely single parents, micro-business operators, victims of financial scams and victims of abandoned housing projects. Individuals who became bankrupt due to misfortune rather than poor financial management should get a second chance, he said.
He did not say how many of the 31,517 bankruptcy cases from 2021 to March 2026 were due to misfortune not of their own…