Bankruptcies hit a high in 2002, outlook uncertain

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A total of 12,268 Malaysian companies and individuals went bankrupt in 2002 - the highest yearly figure since 1985 and up five percent from 11,685 cases in 2001, a report said.

The Edge newspaper today said last year's bankruptcies (personal and corporate) also grew by more than 50 percent since 1998, when the economy underwent its worst recession since the country's independence in 1957.

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