Legal Updates and Case Law: Latest Developments in Labuan IBFC

As Asia’s leading wholesale financial intermediation centre, Labuan IBFC is built on a robust and internationally recognised legal framework, consisting of 8 principal legislations and supplemented by various subsidiary legislations, as passed by the Malaysian Parliament. 30 years since its establishment, this framework is key to the growth of the centre, now home to almost 1,000 licensed financial entities.

Join us at this webinar, where we will discuss this legal framework in the context of a recent case law, specifically the Malaysian Federal Court decision re Nabors Drilling (Labuan) Corp v Lembaga Perkhidmatan Kewangan Labuan [2020] 12 MLJ 54. The webinar commences with a presentation on details of this judgement. This will then be followed by a panel discussion on the aspects of the case, the impact of the judgement on all Labuan license holders, and its possible tax implications as well.

Register now to join us on Thursday, 8 April at 4.00PM (GMT +8).

Speakers
  • Anil Kumar Puri

    Anil has 20 years of tax compliance and consulting experience and leads EY Malaysia’s International Corporate Tax Advisory and Tax Technical teams. He has advised on tax and regulatory issues of many cross border transactions (both inbound and outbound). His experience includes advising on the impact of the OECD’s Base Erosion & Profit Shifting Action Plans on holding and transactional structures, regulatory approvals, withholding taxes, tax incentives, structuring of operations in a business-focused and tax efficient manner and exit strategies.

    In addition, Anil has advised on a number of restructuring exercises, including pre-IPO restructuring and pre-divestment restructuring. He led various tax buy-side and sell-side due diligence projects, including multi-country projects, involving various industries such as retail, education, oil & gas and healthcare.

    Anil has worked with many clients on Labuan tax matters. He has also spoken at EY’s tax conferences and client events in Malaysia and abroad, including conferences organised by Labuan FSA. He regularly conducts training sessions for clients and senior EY personnel on various matters.

  • Datuk Chin Chee Kee

    Datuk Chin Chee Kee is currently the Executive Chairman of Noblehouse International Trust Ltd. And Managing Partner of CK Chin PLT, Chartered Accountants. He has 35 years of experience in cross border tax planning and has been involved in the offshore trust industry and corporate secretarial work for the past 30 years. He also practices as an approved company auditor and an approved tax agent in the accounting firm of CK Chin PLT in Malaysia since 1987.

    He is also the Chairman of the Association of Labuan Trust Companies and a director of Labuan IBFC Inc. Sdn Bhd. He was appointed a Justice of the Peace by the Governor of Sabah on September 16, 1997.

    He is a member of the Malaysian Institute of Accountants, CA (M), a fellow of The Association of Chartered Certified Accountants, United Kingdom, - (FCCA), a Fellow of the Chartered Tax Institute of Malaysia (FCTIM), an Associate Fellow of Asian Institute of Chartered Bankers (Associate Fellow AICB), a member of the International Tax Planning Association (ITPA) and a Registered Trust and Estate Practitioner (TEP).

  • Farah Jaafar

    Farah is the Chief Executive Officer of Labuan IBFC Incorporated, a wholly owned subsidiary of Labuan Financial Services Authority, the statutory Regulatory Authority for Labuan International Business and Financial Centre, operating under the purview of Ministry of Finance, Malaysia. Labuan IBFC Incorporated serves as the jurisdiction’s official market development agency.

    A seasoned strategic communication, market development and financial services professional, she brings with her experience spanning more than 25 years in wholesale financial services, putting her in good stead to develop Labuan IBFC as Asia’s go-to mid-shore wholesale financial intermediation centre.

    Formerly attached to the Asian Institute of Finance and Bursa Malaysia (Malaysia’s national stock exchange), Farah has served in numerous senior market development and strategic communications roles.

    She has also represented the Association of Stock Broking Companies Malaysia, a nationwide industry led lobby group representing Malaysian stockbrokers during the demutualisation exercise of the national exchange, allowing her a unique hands-on experience surrounding high strategic level issues relating to multiple stakeholder management, eco-system curation and long-term strategic business strategy.

    Passionate about equality, financial inclusion and win-win partnerships, she strongly believes that “a rising tide lifts all boats”. Farah has an LLB (Hons) from Sheffield University, United Kingdom.

  • William Lim

    William began his legal practice as a Legal Assistant in Presgrave & Matthews, Penang. In August 2009, William joined Zaid Ibrahim & Co. as an Associate and was later made a Partner of the firm in January 2013. In April 2015, William co-founded Ariff Rozhan & Co. In June 2018, William was named as “Future Star” by Benchmark Litigation.

    William advises and represents both foreign and local clients in a wide range of insolvency litigation matters and corporate and commercial disputes, with emphasis on Labuan IBFC, and the automotive and securities industries. He also represents clients in Administrative Law matters, involving the challenge of the decisions of statutory bodies and tribunals, and has considerable advocacy experience before various Courts and tribunals in Malaysia. William also advises private clients, financial institutions and developers in the acquisition and disposal of properties, and in real estate financing.

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Stay ahead of the game
Access a wealth of information from Labuan IBFC from reports on forward-thinking research to insightful articles.
Get in touch
Interested to setup your business in Labuan? Speak to our dedicated advisors to find out more.
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