Women accounted for 4,607 cases, with 22 cases under unknown genders. As for breakdowns by race, 4,447 cases involved Chinese, 1,321 Indians, 1,516 Malaysians of other races and 48 foreigners.
The highest number of bankruptcies declared by age group happened to those between 35-44 with 6,681 cases, followed by 45-54 (4,819), 25-34 (3,171), those aged 55 and above (2,823), and finally youths aged 25 and below (46). A remainder of 59 cases involved unknown ages.
The highest number of bankruptcies occurred in Selangor (4,164), followed by Kuala Lumpur (2,203), Johor (1,987) and Sabah (1,642).
The Insolvency (Amendment) Act 2020, or Act 360, had been amended in Section 5(1)(a) in order to increase the minimum value of bankruptcy from RM50,000 to RM100,000.
In June, it was reported that close to 60 per cent of the 46,132 Malaysians who declared bankrupt from 2018 to May this year were aged between 25 and 44.
Nearly 42 per cent of those who declared bankruptcy in the same time period cited personal loans as a factor leading to bankruptcy, followed by nearly 15 per cent who listed vehicle purchase as a factor, and more than 13 because of business loans.
In June, it was reported that close to 60 per cent of the 46,132 Malaysians who declared bankrupt from 2018 to May this year were aged between 25 and 44.
Nearly 42 per cent of those who declared bankruptcy in the same time period cited personal loans as a factor leading to bankruptcy, followed by nearly 15 per cent who listed vehicle purchase as a factor, and more than 13 because of business loans.
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