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"It is a natural choice for Malaysian companies looking to expand beyond the shores"
Johor Bahru, 17 November 2016 – Labuan International Business and Financial Centre (Labuan IBFC) offers cost-effective and lucrative solutions to local businesses that are planning to penetrate into the ASEAN’s burgeoning markets. This was one of the key takeaways from the Labuan IBFC-MICCI Malaysian Roadshow for 2016 in Johor Bahru today.
 
Local business owners looking to internationalise or regionalise their businesses could achieve their expansion aims in a cost-efficient way by considering Labuan IBFC.
 
With ASEAN recognised as one of the most dynamic regions in the world and the economic integration through the ASEAN Economic Community (AEC), investors and businesses, including those based in Malaysia, are able to gain access to a larger marketplace in ASEAN.
 
For this, Labuan IBFC is an ideal entry point for Malaysian investors and businesses into ASEAN, allowing companies to operate in a tax and currency neutral environment offered in the jurisdiction.
 
Malaysian businesses are able to leverage on these unique qualities while operating in a well-regulated environment. Among the solutions and services offered by the midshore centre are leasing, commodity trading, wealth management and captive insurance.
 
Leasing business in Labuan IBFC has been experiencing steady growth over the years with the total number of leasing companies increased to 386 and the total assets leased amounting to USD52.5 billion in September 2016.
 
Labuan IBFC also identifies immense opportunities in offering risk solutions to companies in the Asia Pacific region. On wealth management, Labuan IBFC offers unique proposition values as the only international financial centre in Asia to have a legislation that offers private foundations and special purpose trusts, including Islamic foundations or waqf.
 
Currently, Labuan IBFC is home to more than 13,000 companies, 212 insurance companies and 54 banks establishing a strong and sound financial infrastructure.
 
MICCI President Datuk Wira Jalilah Baba said, “We highly encourage the members of MICCI to take advantage of the trade and investment opportunities in Labuan IBFC, especially for companies which export their products and services.”
 
MICCI Southern Chairman, Christina Tee Kim Chin, who is also the CEO of Cape Manufacturing (M) Sdn Bhd said: “Labuan IBFC provides the best choice of platform to maximise their trade flexibility and opportunity under the same time zone in Asia Pacific region.”
 
The roadshow consisted of a series of half-day masterclass with a focus on introducing the midshore jurisdiction and its offerings, ending with a panel discussion. It will also be in Kota Kinabalu, Sabah for its final leg on November 22.
 
For more information and to join one of the masterclasses, please contact +603 2773 8997 or visit www.labuanibfc.com.
MEDIA CONTACTS:
LABUAN IBFC
Farah Jaafar Crossby
pressteam@libfc.com
Tel: +603 2773 8977 
Mobile: +6012-326 1216
Audrey Liew
audrey@libfc.com
Tel: +603 2773 8975 
Mobile: +6012-913 8979
Geraldine Lim
geraldine@libfc.com
Tel: +603 2773 8991 
Mobile: +6012-253 8666
Malaysian International Chamber of Commerce & Industry (MICCI) – Johor Branch
Olivia Chin
miccijb@gmail.com
Tel: +607 333 8878 
Mobile: +6016 722 4993

ABOUT LABUAN IBFC
 
ASIA PACIFIC’S MIDSHORE INTERNATIONAL BUSINESS AND FINANCIAL CENTRE
 
Labuan International Business and Financial Centre (Labuan IBFC) offers global investors and businesses the benefits of being in a well-regulated midshore international business and financial centre, which provides fiscal neutrality and certainty, in addition to being an ideal location for substance creation.
 
Located off the North West Coast of Borneo, Labuan IBFC provides access to Malaysia’s network or more than 80 double taxation agreements and boasts Asia’s widest range of business and investment structures for cross-border transactions, international business dealings and wealth management needs.
 
Well-supported by a robust, internationally recognise yet business-friendly legal framework, Labuan IBFC operates within clear and comprehensive legal provisions and industry guidelines, enforced by its single regulator, Labuan Financial Services Authority.
 
With a focus on enabling cross-border transactions, providing risk management structures, Islamic financial services, commodities trading incentives and wealth management vehicles, we offer solutions to regional businesses going global or global businesses looking at penetrating Asia’s burgeoning markets.
 

ABOUT MICCI – Malaysian International Chamber of Commerce & Industry
 
Founded in 1837, the Malaysian International Chamber of Commerce and Industry (MICCI) is Malaysia's longest established trade association.
 
With close to 1000 corporate members representing over 30 countries including Malaysia, MICCI is recognised as one of the most active advocates for the business community.
 
MICCI’s mission is to facilitate and support Members in their goal to successfully develop their business in Malaysia through its engagement with both Federal and State governments.
 
Website: www.micci.com
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