Today in parliament, the issues of insolvency laws to increase the threshold of an individual to be declared bankrupt was raised in Dewan Rakyat (House of Representative) sitting.
Sibuti MP Lukanisman bin Awang Sauni ask the Prime Minister to state whether the Government has done thorough research on laws in particular with bankruptcy and whether the Government will amend the laws in order to make it easier for those who have been declared with bankruptcy to settle their debts so that the status will not last a lifetime.
Lukanisman said statistics from the Insolvency Department showed that a total of 10,532 youths aged between 25 and 34 were declared bankrupt between 2018 and 2019. Below is a video parliament session related to issues.
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SOURCE: Youtube Parlimen Malaysia