Labuan IBFC Targets Indonesian Businesses

Labuan International Business and Financial Centre Targets Indonesian Businesses with Regional Expansion Aspirations

Midshore international business and financial centre marks silver jubilee with ASEAN roadshow 

FINANCE / ASEAN

Jakarta, INDONESIA

Tuesday, 4th August 2015

Labuan International Business and Financial Centre (Labuan IBFC), Asia Pacific’s midshore international business and financial centre, held the Jakarta chapter of its ASEAN roadshow today. The event, “Labuan IBFC: Bridging Indonesia with ASEAN”, was aimed at Indonesian corporates looking to expand their ASEAN footprint and marks Labuan IBFC’s 25-year track record in strategically serving the needs of companies and private investors looking to establish a foothold in the region.

“As ASEAN grows in economic might, the increase in wealth in the region is outpacing the rest of the world. Capitalizing on this growth, Indonesian companies are looking for efficient and legitimate ways to expand into ASEAN. Labuan IBFC is well-positioned to fulfill this need, given its proximity to strategic Asian markets, sound regulatory oversight and simple and competitive tax system,” said Danial Mah Abdullah, Interim Chief Executive Officer at Labuan LIBFC.  The half-day event in Jakarta, attended by leading international companies and insurance institutions focused on the benefits, cost and ease of incorporating a Labuan company, including a captive insurance company, to manage multi-jurisdiction business interests and mitigate corporate risk. 

Labuan IBFC has all aspects of business and financial activity ranging from banking and insurance to international tax, trust and foundation laws.It reported strong performance across all financial sectors, including banking, insurance, leasing, wealth management and Islamic finance, with 12.3 percent increase in new company registrations in 2014 compared to the previous year. In fact, 70% of companies registered in Labuan IBFC originate from Asia, with 57% from Southeast Asia, mainly Indonesia, Malaysia, Singapore and Thailand. 

The Labuan IBFC ASEAN Roadshow 2015 kicked off in Kuala Lumpur on 27 May, followed by Manila on 2 June and today in Jakarta. It will move next to Bangkok on 1 September, Singapore on 15 September and Hong Kong on 20 October. It is aimed at business owners, private bankers, wealth managers, accountants, tax advisors, trust managers and lawyers. It has so far attracted more than 250 delegates as well as 19 speakers and panellists ranging from regulators to industry practitioners.

For more information, please refer to http://www.labuanibfc.com/events.html.