10,317 declared bankrupt

More than 10,000 individuals have been declared bankrupt throughout the movement control order (MCO) period between March 2020 and July 2021, says Datuk Seri Ismail Sabri Yaakob (pic).

In a written parliamentary reply, the Prime Minister also revealed that 1,246 businesses have closed down during the same period.

“The total number of bankruptcy cases based on the number of individuals is 10,317,” he said in reply to Lim Lip Eng (PH-Kepong), who asked for the breakdown by state on the number of businesses that had closed down during the MCO period.

Selangor recorded the highest number of bankruptcy cases, involving 2,555 individuas, followed by Federal Territories (1,288), Johor Baru (792) and Perak (628).

Ismail Sabri noted that based on the input from the Finance Ministry, the government does not have specific assistance for owners who had closed down their businesses.

“Instead, the government provides assistance and incentives to support the continuity of their businesses,” he said.

He added that the government had also announced various programmes and initiatives under various economic stimulus packages, and financial assistance with the focus of supporting businesses and protecting the rakyat, such as the Wage Subsidy Scheme and Bantuan Prihatin Rakyat cash assistance.

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