PETALING JAYA: Law and institutional reform minister Azalina Othman Said has refuted claims that youths aged under 25 make up the majority of bankruptcy cases in Malaysia.
Winding up the debate on the amendments to the Insolvency Act today, Azalina said the highest number of bankrupts in the country belong to the 35 to 44 years age group.
From 2019 to 2023, only 107 people below the age of 25 were declared bankrupt.
Most are aged between 35 and 44. From 2019 to 2023, there were 13,073 bankrupts in this age group.
She said 5,297 bankrupts were aged 55 and above.
On the gender breakdown, the minister told the lower house that more men than women were bankrupt.
The house erupted i…
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