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

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.