KOTA TINGGI: A national convention is slated for the first quarter of next year, aimed at refining the implementation of the Second Chance Policy for bankrupt companies. Minister in the Prime Minister’s Department (Law and Institutional Reform), Datuk Seri Azalina Othman Said, announced that the convention will engage the Malaysian Department of Insolvency and other relevant stakeholders to evaluate the necessity for policy expansion and propose essential amendments to pertinent laws.
According to BERNAMA News Agency, the minister emphasized that following the national convention, similar discussions will be organized at the state level to determine whether the focus should be on legal amendments to provide assistance or on bolstering the support structure. Azalina shared these insights with reporters at an event in Bandar Penawar, which included the MyLesen B2 programme and the Pengerang Youth Sports Equipment Contribution ceremony.
This initiative is part of a broader strategy following Prime Minister Dat
uk Seri Anwar Ibrahim’s recent announcement to extend the Second Chance Policy to bankrupt companies, as highlighted in the Budget 2025. During the budget presentation, Anwar pointed out that the policy has already aided over 170,000 bankrupt individuals in rebuilding their lives and will now be expanded to include companies facing insolvency.