New Sabah Times, Photo Credit to New Sabah Times
clock 22-09-2017
hit 1,580

Younger Generation Among Biggest Bankrupts

Be the first to review

The younger generation is among the biggest number of bankrupts in this district, said Head of the Tawau Department of Insolvency Mohaidy Tabin.

He said this group was reported to have become bankrupt due to the economic climate, failure to plan their finances and become a guarantor to borrowers.

He added that so far this year, the total number of bankrupts had increased by 15 percent compared to last year.

"As of yesterday, 2,131 people in this district have been declared bankrupt, and of these, 206 were recorded bankrupt from January.

”We will enhance efforts to provide information on the level of bankruptcy, especially among the younger generation" he said after giving a briefing on the Post-Bankruptcy (Amendment) Bill 2016 to the staff of government and private agencies here on Wednesday.


Monthly Column
The staple of your property-related materials. It's all about being ahead of the game and with The Column, you get carefully selected information that will keep you informed and running with the pack. The best news, articles and properties on the market from the Property Hunter portal, conveniently wrapped and ready, just for you.