Kuala Lumpur, 18 September 2026 - Labuan IBFC Incorporated Sdn. Bhd. (Labuan IBFC Inc.) and TRX City Sdn Bhd (TRXC) today signed a Memorandum of Understanding (MoU) to strengthen collaboration between Malaysia’s two international financial centres and advance the shared vision of “1 Ecosystem, 2 IFCs”. The partnership brings together the complementary strengths of both centres to enhance regional investment, business connectivity and capital flows across Asia. The MoU was signed at a ceremony in Kuala Lumpur this morning.

Through the MoU, TRXC and Labuan IBFC Inc. will explore joint market development initiatives, knowledge-sharing and research, promotional activities and investment facilitation. The collaboration is intended to create clearer pathways for businesses and investors to access the complementary capabilities of both centres, while strengthening Malaysia’s proposition as a regional financial gateway.

The collaboration comes as businesses increasingly diversify their operations across Asia and seek regional platforms that can support both their operational and cross-border financial requirements. This is driving demand for more connected financial ecosystems that bring together market access, capital, talent and specialised financial capabilities.

Labuan IBFC Inc. is Malaysia’s international business and financial centre, serving as a hub for cross-border activities including wealth management, investment and financing structures, insurance, Islamic finance and digital financial services, supported by its consolidated model. The establishment and regulation of Labuan entities are overseen by the Labuan Financial Services Authority (Labuan FSA), a single statutory authority under the purview of Malaysia’s Ministry of Finance.

Labuan IBFC is currently home to approximately 5,000 operating companies. Its growing status as a premier international hub is reflected in the Global Financial Centres Index (GFCI), where its ranking climbed significantly from 55th to 44th out of 139 global financial centres this year.

TRXC, a wholly-owned company of Minister of Finance (Incorporated), is the master developer and steward of Tun Razak Exchange (TRX), Malaysia’s International Financial Centre. Beyond developing and managing the district, TRXC plays a catalytic role in advancing TRX as a strategic platform for investment attraction, financial sector growth and ecosystem development.

30,000 workers are now based in the 70-acre district, representing a wide range of industries – from global financial institutions and technology giants, to leading multinational corporations, luxury brands, and high-impact AI-driven industries. More than 120 firms now call TRX home, as the IFC serves as a gateway connecting businesses, capital and talent to opportunities across Malaysia, ASEAN and the wider region.

The MoU signed today provides a platform for both parties to explore opportunities that leverage complementary capabilities and create greater choice, access and connectivity for businesses and investors operating across the region.

Ben Quah, CEO of Labuan IBFC Inc. commented, “As capital flows across Asia become increasingly intertwined, businesses and investors are looking for financial ecosystems that offer complementary capabilities and greater flexibility. Our collaboration with TRX strengthens Malaysia’s proposition by connecting two centres with distinct but complementary roles, creating new pathways for businesses, investors and capital to access opportunities across the region.”

Datuk Wira Sr Azmar Talib, CEO of TRXC commented, “Malaysia's competitive advantage lies not in a single institution or location, but in the strength of its overall ecosystem. By bringing together TRX's ecosystem of institutions, businesses and talent with Labuan IBFC's specialised international financial capabilities, we are strengthening Malaysia's value proposition as a connected financial gateway for regional and global investors.”

Given its unparalleled regional connectivity, growing digital financial services, robust regulatory frameworks, as well as its established leadership in Islamic finance, Malaysia is well positioned to connect specialised financial capabilities and facilitate regional capital formation, investment and expansion.