LABUAN IBFC

Wealth man­age­ment, leas­ing, cap­tive in­sur­ance, com­mod­ity trad­ing among tar­geted niche ar­eas

New Straits Times - - Business | News -

LIDIANA ROSLI KUALA LUMPUR lidiana@nst.com.my

THE Labuan In­ter­na­tional Busi­ness and Fi­nan­cial Cen­tre (Labuan IBFC) is in the midst of its next evo­lu­tion since its for­ma­tion in 1990. Labuan IBFC Inc Sdn Bhd chief ex­ec­u­tive of­fi­cer Danial Mah Abdullah said this was not unique to Labuan IFC alone as other fi­nan­cial cen­tres, such as the Cay­man Is­lands and Mau­ri­tius, were also look­ing for a niche to de­velop.

“We have al­ways said Labuan is not a tax haven, al­though we do have those who use us for tax purposes. We have in­terme-

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