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The show must go on for 29 Malaysian celebrities who have filed for bankruptcy, with mounting debts leading them to seek assistance from the Insolvency Department to repay their arrears
According to the New Straits Times, Insolvency Department bankruptcy division director Fajrul Shihar Abu Samah said the list includes household names, veteran actors, former Hero Remaja contestants, and award-winning entertainers.
"If I were to list their names one by one, almost everyone out there would recognise them," she said.
Since 2012, 66 celebrities have been recorded in its insolvency registry, and more than half have since successfully cleared their bankrupt status after receiving financial counselling and assistance.
Some celebrities reportedly sought help after struggling to deal with pressure from financial institutions. Once they are declared bankrupt, the Insolvency Department acts as an intermediary between them and their creditors.
Fajrul revealed that the main reasons behind their financial problems include poor money management, personal loans, and high-value asset purchases.
Despite their debts, many are still actively trying to repay what they owe
"Many are even willing to pay extra whenever they land more gigs.
"That level of commitment makes administering their debts much smoother. Once listed as bankrupt, banks no longer pursue them directly. Instead, they deal through us," Fajrul shared.
The issue also reflects a wider national trend. Between 2022 and June 2026, 26,782 Malaysians were declared bankrupt.
Personal loans made up the largest share, accounting for 11,999 cases, followed by business loans, housing loans, and vehicle hire-purchase agreements.
The Insolvency Department also warned that younger Malaysians are increasingly vulnerable to bankruptcy, with those under 30 making up nearly 15% of cases recorded over the past five years.
Insolvency Department director-general Datuk Ishak Bakri attributed the trend to poor long-term financial planning, as well as pressure from "Fear of Missing Out" (FOMO), "You Only Live Once" (YOLO), and other social media-fuelled lifestyles.
