The rising trend of Malaysians declaring bankruptcy voluntarily is becoming a growing concern, signaling that many are struggling with severe financial difficulties, the New Straits Times reported. In recent years, more people have opted to declare themselves bankrupt through a Debtor's Petition, a legal process filed in court to protect themselves from excessive creditor claims. Insolvency Department director-general Datuk M Bakri Abd Majid revealed that self-declared bankruptcy cases surged by 200 per cent, with 330 cases recorded in 2024, compared to 181 in 2023 and 116 in 2022.

Malaysia’s central bank kept its benchmark interest rate unchanged as expected, citing a balanced outlook on growth and inflation, the Wall Street Journal reported. Bank Negara Malaysia on Thursday maintained its overnight policy rate at 3.00%, where it has been since May 2023. “At the current OPR level, the monetary policy stance remains supportive of the economy and is consistent with the current assessment of inflation and growth prospects,” Bank Negara said.

Malaysia’s central bank kept its benchmark interest rate unchanged yet again, as solid growth and steady inflation gives it room to extend its policy hold, the Wall Street Journal reported. Bank Negara Malaysia on Wednesday maintained its overnight policy rate at 3.00%, the same level it has been at since May 2023. “At the current OPR level, the monetary policy stance remains supportive of the economy and is consistent with the current assessment of inflation and growth prospects,” the central bank said.

Scandal-hit Malaysian state fund 1Malaysia Development Berhad said on Monday it has filed a legal claim of more than $1 billion against corporate services provider Amicorp Group and its CEO, alleging the firm knowingly facilitated over $7 billion in fraudulent transactions, Reuters reported.

Malaysia’s central bank kept its benchmark interest rate at the same level it has been at since May last year, as a stable economic backdrop gives policymakers room to hang tight, the Wall Street Journal reported. Bank Negara Malaysia on Wednesday maintained its overnight policy rate at 3.00%. The central bank reiterated that its stance remains supportive of the economy and in line with its assessment of inflation and growth. Economists had largely expected another rate hold, as Malaysia’s inflation has remained under control and its growth trajectory intact.

The Malaysian High Court on Monday fixed Jan 6, 2025, to hear former prime minister Datuk Seri Najib Razak and his son Datuk Nazifuddin Najib's appeals to stay bankruptcy proceedings for their failure to settle RM1.69 billion and RM37.64 million in tax arrears to the Inland Revenue Board (IRB), The Edge Malaysia reported. Their initial applications had been denied by the deputy registrar in July. The date was fixed following case management before High Court (Insolvency) Senior Assistant Registrar Naeilah Nikrul Tarmizi on Monday.