Market report: (from left) Labuan Financial Services Authority member Datuk Ali Abdul Kadir, chairman Datuk Oh Chong Peng and director-general Daniel Mah Abdullah at the 2018 Industry Performance briefing and subsequent launch of the 2018 Market Report yesterday in Labuan.
PETALING JAYA: The business sectors of the Labuan International Business and Financial Centre (Labuan IBFC) saw a rise in new businesses of 12.5% or 1,059 companies mainly from Japan, China and South Korea last year driven by robust business polices and the intermediate role of the centre.
In a press release statement yesterday, Labuan Financial Services Authority (LFSA) said Labuan IBFC’s trust and corporate service providers increased by 11.5% year-on year amounting to 58 trust companies including granting six new licences in 2018.
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