Pool of bankrupt Malaysians under 35 double that in 2005

Kuala Lumpur

MALAYSIA aims to become a "high-income status" nation by 2020, but the number of its young people grappling with higher debts than they can handle is on the rise.

Members of Gen Y who borrow to buy homes, cars and other items have contributed to the country's heavy household-debt burden. Bad debts in Malaysia banks are still low, but there has been a notable rise in the number of people under age 35 who have been declared bankrupt.