Most go bankrupt over loan woes |
Written by 3K Admin |
Wednesday, 04 August 2010 21:27 |
2010/08/04
Of the total, 31,950 cases or 39.76 per cent involved Malays, 26,805 cases (33.6 per cent) were Chinese, 7,661 cases (9.53 per cent) were Indians while the rest at 13,932 (17.34 per cent) were from other races. Men top the list with 74.48 per cent while women accounted for the balance 25.52 per cent.
"Another 8,786 cases, or 10.93 per cent, involved problems in repaying their business loans," Liew said in a written reply to Senator S. Ramakrishnan.
"Other reasons include income tax and educational loans." As such, he said the government had taken steps to reduce bankruptcy among Malaysians.
As of the second quarter of this year, 33 outreach programmes, 14 media statements and 17 consultative forums had been conducted. On another matter, Deputy Finance Minister Datuk Donald Lim Siang Chai said the number of credit-card holders who were declared bankrupt had declined from 1,656 in 2006 to only 405 last year. "On average, the number of credit-card holders declared bankrupt only amounted to 0.04 per cent of the total 3.2 million credit-card holders," he told Senator Datuk Wan Hazani Wan Mohd Nor. He said the non-performing loans for credit-card holders had decreased by two per cent last year, compared with 4.3 per cent in 2005.
Source: http://www.nst.com.my/nst/articles/20snta/Article#ixzz0vazVEXPk |
Last Updated on Wednesday, 04 August 2010 21:41 |