Guan Eng: Low financial literacy among Malaysian youth contributing to high bankruptcy rates


  • Nation
  • Monday, 04 Mar 2019

Finance Minister Lim Guan Eng says Malaysia will find it challenging to meet its 3% fiscal deficit target for next year due to uncertainties around the US-China trade war.

BANGI: Low financial literacy among young Malaysians is one reason why many ending up as bankrupts, says Finance Minister Lim Guan Eng (pic).

"A study by S&P Global Literacy Financial in 2014 reported that financial literacy rate in Malaysia is only at 36%, compared with 59% in developed countries.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Nation

Motorcyclist dies after colliding with vehicle in Sabah
Firemen still working hard to put out fire at Klang factory
KKB polls: There should be no confusion when casting votes, says MP to Orang Asli
Saudi Crown Prince plans to visit Malaysia by year-end, says Anwar
Ex-civil servant arrested by MACC in Malay Reserve Land fraud
Sixty-year-old Sien Yeh Koon temple destroyed in fire
KKB polls: EC issues 188 postal ballots to eligible voters
PM meets Pakistani counterpart, Turkiye Foreign Minister
Order for Bung Moktar, wife to answer graft charges contrary to evidence, High Court rules
Human skeletal remains found at Gemas oil palm plantation

Others Also Read