October 2019

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

Malaysia is in a strategic position to spread the growth of digital economy throughout the region

Malaysian Digital Economy Corporation Sdn Bhd (“MDEC”) recently announced that Malaysia has the potential to become a digital hub for ASEAN as Malaysia is in...


HIGHLIGHTS

Ibrahim Sani of Astro Awani (CH501) talks to Labuan FSA Director-General, Danial Mah Abdullah on Labuan IBFC and his hopes for the jurisdiction.​


The Labuan International Business and Financial Centre (IBFC), which was established 29 years ago, has continued to become a financial and business jurisdiction of choice in Asia.​


Labuan is set to be the first territory in Malaysia to meet the National Fiberisation and Connectivity Plan’s target by 2020, ahead of previously scheduled 2023.​



The growing popularity of family offices in Asia is changing investment habits among the ultra-rich as they seek to preserve wealth for future generations.​

CEO'S MESSAGE

Dear All

As we kick off the last quarter of 2019, it’s a pleasure to note that Labuan IBFC has continued to grow during the first half of the year with the banking sector recording a 23% increase in total deposits now amounting USD10 billion via the 55 banks licensed; clearly a sign of confidence in the jurisdiction.

In insurance, we are now home to 217 licensees which collectively reported a higher retention ratio of 64.5% compared to 59.1% year on year. With foreign premiums standing close to 60%, these numbers simply reinforces Labuan IBFC’s role in the Asian risk management landscape. For more details read the exclusive interview with Labuan FSA’s Director General, Danial Mah Abdullah.

We are on the road again, this time back again in Singapore for the Asian Captive Summit 2019 and the Asian Captive Awards ceremony. It’s great to have a strong cohort of Labuan intermediaries nominated for the awards, so watch this space! Changing tack, we will then be at the World Blockchain Summit Dubai, then back in Singapore for the 16th Singapore International Reinsurance Conference.

Until next time, hope you enjoy this edition!


Farah Jaafar-Crossby
Chief Executive Officer, Labuan IBFC Inc


EVENTS

9.00 AM - 4.00 PM
Singapore


9.00 AM - 5.00 PM
Dubai, United Arab Emirates


READING LIST

Provision of a neutral platforms to facilitate cross-border investment, parties around the world with differing laws, regulations and tax systems can do business with each other.​


Wealth managers will have to review their offshore service propositions in lieu of an expected rise in high net worth (HNW) demand, according to GlobalData, a data and analytics company.​


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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.
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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