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December 2017
Insight
Plus
Direct from Asia Pacific's Leading Midshore Business and Financial Centre.
“PCCs are a flexible structure offering cost-efficient centralised management while allowing for diversity in mandate and risk appetite.”
 
The protected cell company (PCC) was borne as alternative risk management tool in 1997, designed primarily to cater for the needs of...

Anthony Egerton, Principal Officer at Huntington Underwriting, said regulators are driving change throughout Asia, with markets taking different approaches. Egerton spoke with A.M. Best TV at the Singapore International Reinsurance Conference.


In regards to the recent announcement by Inland Revenue Board Malaysia on the major audit exercise on Malaysian banks, Labuan FSA will provide its assistance to the IRB, including sharing relevant information on Labuan financial institutions with the tax authority under the exchange of information framework.

PricewaterhouseCoopers (PwC)and the Centre for the Study of Financial Innovation (CSFI) have joined forces to gather responses from senior insurers and close observers of the financial scene to learn what they see as the biggest threat.


Time flies and we’re already in the final month of 2017!

The past month has been packed with the team busy with events in China - Shanghai, Beijing and Tianjin, and across to the western side in the Middle East - Bahrain, Dubai and Abu Dhabi. 

Our roadshow and engagements in China were very rewarding. There is definitely an important role for Labuan IBFC to play in the Belt and Road Initiative, be it from a risk management solution perspective or as capital raising platform for the massive infrastructure projects. Towards this, we are working closely with Labuan licensed intermediaries originating from China towards better tapping and reaping on the huge opportunities available, especially as there is such a strong cultural and business affinity between China and Malaysia/Labuan.

In the meantime, do watch out for our special bumper issue towards the end of December where we will wrap up the highlights of 2017.

We hope you enjoy reading this month’s edition.

The report commissioned by Royal Bank of Canada (RBC) from researchers Scorpio Partnership found surprising numbers of high-net-worth families lacking in their estate planning.

A flood of low-cost Chinese funding is shaking up the global aircraft leasing market, with Chinese capital now accounting for 28% of the USD261 billion deployed by leasing firms worldwide, a study suggested.


Billionaire wealth increased 17% to USD6 trillion in 2016, after a decline the previous year, UBS Group AG and PricewaterhouseCoopers (PwC) said in a report. Led by China, the number of the region’s billionaires surpassed the US for the first time.


Bank Negara’s move to regulate the world of digital monies in the country from next year onwards is expected to instil some public confidence in the viability of these tokens, and hence encourage the growth of cryptocurrency adoption in the local market.


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