QUESTION:
Labuan IBFC as a jurisdiction is celebrating its 30th year of its establishment in 2020, and it is indeed a momentous time to be heading Labuan FSA through this anniversary; more than half of which you have personally served in the FSA. What for you are key milestones Labuan IBFC has gone through as it matures into a key intermediation centre in Asia?
QUESTION:
From a regulatory point of view, the issue of tax and economic substance in relation to taxation has been a key developmental element in all International Financial Centres (IFCs) over the last 2-3 years and before that, there was a huge sea change in terms of transparency vis-à-vis taxation e.g. via Common Reporting Standard. How has Labuan IBFC responded to these challenges or has it been the case that these “flight to quality” changes have been positive for Labuan IBFC?
QUESTION:
How do you see Labuan IBFC growing in the next 30 years? What role do you see it playing in facilitating Malaysia’s economic growth and the growth in Asia generally? Which areas of business do you think holds the most promise?
QUESTION:
Can you also share with us Labuan FSA’s response vis-à-vis Covid-19, maybe from operational, regulatory and supervision related aspects? How do you think financial intermediation will change in a post Covid-19 world? And will the economic downturn caused by Covid-19 and its repercussions affect a centre like Labuan IBFC?
QUESTION:
Finally, what are your aspirations for Labuan IBFC? So, in the next 30 years, under ideal circumstances, how would you like to see Labuan IBFC evolve?