January 2018
INSIGHT
PLUS
Direct from Asia Pacific's Leading
Midshore Business and Financial Centre.
Direct from Asia Pacific's Leading Midshore Business and Financial Centre.
FEATURED
By Malcolm Cutts-Watson
The start of a new year is always a good time to reflect on the previous year and assess the opportunities and challenges that might arise in the forthcoming year. Following a year of severe natural disasters and highly publicised cyber breaches, it is understandable that organisations are reviewing their risk financing strategies and in particular the role their own captive (re)insurance company can play...
HIGHLIGHTS
Labuan Financial Services Authority has issued revised Guidelines for all leasing transactions through Labuan IBFC on 29 December 2017. All requirements of the Guidelines shall come into effect on 1 January 2018 while the substance requirements by the Labuan leasing companies shall come into effect on 1 January 2019 to provide sufficient transition period for compliance.
CEO'S MESSAGE
Happy New Year! The team and I send our most sincere wish that 2018 will be kind to you and your loved ones. This might be just a short note but it’s a personal milestone for me, as it’s my first note as CEO of Labuan IBFC Inc.
And 2018 is already kicking off memorably in more ways than one! Labuan island’s real economy is expected to undergo a significant shift based on the Labuan Development Blueprint due to be launched by His Excellency the Prime Minister of Malaysia soon. This plan is very much hinged on Labuan IBFC as a key enabler and will articulate strategic initiatives towards enhancing Labuan's socio-economic growth. So do watch this space.
To kick start the year, we are also pleased to have Malcolm Cutts-Watson, a senior risk management specialist and a member of Labuan FSA’s International Advisory Panel, shares his thoughts and insights on the captive insurance industry 2017 and beyond.
Last but in no way least, I would like take this opportunity to thank Mr Danial Mah Abdullah for his leadership, vision and guidance during his tenure as CEO. The jurisdiction and the team benefitted greatly from his tenure, and I can only attempt to fill the large shoes he has left behind.
Farah Jaafar-Crossby
Chief Executive Officer, Labuan IBFC Inc
And 2018 is already kicking off memorably in more ways than one! Labuan island’s real economy is expected to undergo a significant shift based on the Labuan Development Blueprint due to be launched by His Excellency the Prime Minister of Malaysia soon. This plan is very much hinged on Labuan IBFC as a key enabler and will articulate strategic initiatives towards enhancing Labuan's socio-economic growth. So do watch this space.
To kick start the year, we are also pleased to have Malcolm Cutts-Watson, a senior risk management specialist and a member of Labuan FSA’s International Advisory Panel, shares his thoughts and insights on the captive insurance industry 2017 and beyond.
Last but in no way least, I would like take this opportunity to thank Mr Danial Mah Abdullah for his leadership, vision and guidance during his tenure as CEO. The jurisdiction and the team benefitted greatly from his tenure, and I can only attempt to fill the large shoes he has left behind.
Farah Jaafar-Crossby
Chief Executive Officer, Labuan IBFC Inc
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