GEORGE TOWN: The percentage of young Malaysians facing debt defaults has been reduced to 10 per cent as at April this year from 15.8 per cent in 2009, according to the Credit Counselling and Debt Management Agency (AKPK).
It said the younger generation under its Debt Management Programme (DMP) was more savvy in financial management and most of them preferred to use debit card instead of credit card. "AKPK is concerned about those in the 20-30 age group as they are always in debt. The reduction now shows a healthy indication," AKPK's chief executive officer, Koid Swee Lian, told reporters after briefing financial institutions here on Monday.
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