KUALA LUMPUR: A total of 5,272 youths below age 34 have been declared bankrupt from 2020 to this year, Youth and Sports Minister Hannah Yeoh says.
She said that of the total, 5,189 were between 25 and 34, while 83 others were below age 25.
“The trend of bankruptcy among youths shows an increase, with 877 cases recorded in 2024, which is 150 cases higher than the 727 cases recorded in the previous year.
“Insolvency Department records show that the main cause of bankruptcy cases in 2024 was personal loans, which accounted for 2,776 cases or 46.4% of the total 5,977 bankruptcy cases,” she said in reply to Senator Roderick Wong Siew during Question Time at the…
