Men top the list of bankruptcies with 71.78% since 2022

MEN continue to record the highest number of bankruptcies in the country, comprising 71.78 per cent of the total cases recorded between 2022 and last month.

Selangor Insolvency Director, Tengku Intan Suraya Tengku Ismail, said the latest statistics showed that out of the 23,918 cases registered during the period, 17,168 bankrupt individuals were men compared to 6,664 women (27.86 per cent).

“In addition, another 86 cases (0.36 per cent) were classified as ‘not stated’,” she said.

The statistics were revealed through the Insolvency Department slides presented by her at a sharing session titled ‘Bankruptcy is not a period, but a comma – Understanding second chances’ in Kuala Lumpur.

By age group, individuals aged 35 to 44 recorded the highest number of cases, which was 9,535 cases, representing 39.87 per cent of the total cases.

This was followed by the 45 to 54 age group with 6,869 cases (28.72 per cent).

The 25 to 34 age group recorded 3,415 cases (14.28 per cent), while Malaysians aged 55 and above recorded 3,874 cases (16.20 per cent).

Only 66 cases (0.28 per cent) involved individuals aged 20 to 24.

In terms of causes of bankruptcy, personal loans remained the main contributor with 10,885 cases or 45.51 per cent.

Vehicle financing was in second place with 4,661 cases (19.49 per cent).

Other significant factors included housing loans (2,151 cases, 8.99 per cent), vehicle hire purchase loans (1,837 cases, 7.68 per cent), and corporate guarantor commitments (1,342 cases, 5.61 per cent).

Credit card debt accounted for 556 cases (2.32 per cent), while income tax arrears involved 531 cases (2.22 per cent).

By occupation category, private sector workers recorded the highest number of cases at 7,670 cases (32.07 per cent), closely followed by the “no information” category at 7,221 cases (30.19 per cent).

Entrepreneurs recorded 4,758 cases (19.89 per cent), while civil servants recorded 2,992 cases (12.51 per cent).

Smaller numbers were recorded among the self-employed (856 cases), the unemployed (297 cases), government pensioners (52 cases) and professionals (67 cases). – February 16, 2026