A TOTAL of 300,908 cases of insolvency have been reported as of August, said Minister in the Prime Minister’s Department Liew Vui Keong in Dewan Rakyat today.

“The government has embarked on efforts to reduce cases of bankruptcy in Malaysia.

“It cannot be denied that the youth today are influenced by the latest trends that prompt them to spend beyond their means.”

Among the efforts are financial literacy programmes and outreach by the Insolvency Department.

The Credit Counselling and Debt Management Agency under Bank Negara has implemented financial literacy programmes as well.

Liew was responding to the question by Willie Mongin (Puncak Borneo-PH) on the number of insolvency cases and the government’s efforts in addressing the issue. – October 17, 2019.