More than 11,500 individuals declared bankrupt in seven months

KUALA LUMPUR (Aug 7): A total of 11,559 people have been declared bankrupt from October 2017 to April 2018, according to the Prime Minister’s Department (JPM).

The number of bankruptcy cases was highest in April 2018 with 1,971 individuals (17.05 per cent). followed by March 2018 with 1,777 cases (15.37 per cent).

Bankruptcy

JPM said in 2017, there were 1,602 people (13.86 per cent) declared bankrupt in October followed by 1,656 new bankrupt cases (14.33 per cent) in November.

“The number of people declared bankrupt in December was 1,768 people (15.3 per cent) and in February the figure was 1,510 (13.06 per cent),” said the department in a written reply at Dewan Rakyat today.

The statement was in reply to a question by Lim Lip Eng (PH-Kepong) on the number of bankruptcy cases since the Insolvency Act 1967 amendment came into effect on Oct 6 2017.

According to the statement, the government will continue to monitor the implementation of the amended Act to ensure the interest of bankrupts was protected before deciding on any further amendments to the Act.
– BERNAMA

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