Debt and Bankruptcy among Youths

An average of 53 Malaysians are declared bankrupt everyday. Among the youth, close to 25,000 below the age of 35 have become bankrupts over the past five years. According to the Asian Institute of Finance, some 40% of Malaysian young adults are spending more than they can afford. Addressing why this is happening and what we can do to reverse the trend are Puan Nor Akmar Yaakub from the Credit Counseling and Debt Management Agency, AKPK, Shahril Hamdan, the chair of UMNO’s Young Professionals Bureau. and Hazwan Hairollah, who is putting together a symposium on financial management.