More than 5,000 individuals declared bankrupt in Perak

IPOH: As many as 5,845 people in Perak were declared bankrupt by the Malaysian Insolvency Department (MDI) from 2012 to last year, said its Perak director Hezlin Haldi.
He said according to records, those individuals were between the ages of 35 to 44.
"Most of these cases were due to problems with personal, vehicle and housing loans," he said in a briefing given to government and private bodies and a certificate presentation ceremony for bankruptcy release held in conjunction with A Day with MDI programme at the state level here today.
He said most of those who applied for release from the bankrupt status did so through court release, full payment of loan and through achieving individual primary performance index in the workplace.
He said during the same period, a total of 101,958 individuals were declared bankrupt in 22 MDI divisions throughout the country.
On the programme which was held simultaneously throughout the country, Hezlin said it was aimed at providing information to the public about the Bankruptcy (Amendment) Bill 2016 which was passed by the Dewan Rakyat on March 29 and the Senate on April 26. — Bernama