LABUAN IBFC

Labuan Embarks On Marketing Drive In Asia And Middle East, by Mary Swire, Tax-News.com, Hong Kong.



The Labuan International Business and Financial Centre Inc (IBFC), the offshore jurisdiction's marketing and promotion arm, has announced the launch of a promotional drive to attract more business from Asia and the Middle East to the low tax finance centre, which lies off the coast of Malaysia.

Announcing the initiative at a recent press conference, Martin Crawford, the chief executive officer of the Labuan IBFC, revealed that offices would be set up in Hong Kong and either Abu Dhabi or Dubai within the next twelve months. But firstly, the IBFC would attempt to spread Labuan's message through roadshows in India, North Asia, Australia and Indonesia, he disclosed.

Crawford explained that the IBFC was keen to tap into newer emerging markets for offshore investment flows such as India, China and the Gulf Cooperation Council (GCC) region, which have traditionally routed their offshore investments through Mauritius or Singapore.

According to Crawford, the marketing campaign would focus on attracting business in five key areas, including international holding companies, private and public investment banks, captive insurance, Islamic finance and wealth management products.

Labuan is a relatively unknown offshore jurisdiction, having been created by the Malaysian government in 1990. However, it offers a highly attractive tax regime to offshore companies, and the IBFC will no doubt emphasise this point in its campaign

The Labuan Offshore Business Activity Tax Act 1990 (as amended 2004) provides for the reduction or complete exemption of income tax in respect of certain business activities carried on by offshore companies in Labuan. Chargeable profits derived by an offshore company from an offshore trading activity are subject to tax at a rate of 3%. An offshore company which carries on an offshore non-trading activity is exempt from income tax altogether.

Last year, Prime Minister, Datuk Seri Abdullah Ahmad Badawi stated in his budget speech that in future, companies registering in the Labuan offshore sector would have the option of having their offshore business income taxed under the Income Tax Act 1967, in addition to under the Labuan Offshore Business Activity Tax Act 1990. The Income Tax Act 1967 applies to any activity other than offshore business activity carried on by an offshore company, meaning that they pay normal taxes.

The Prime Minister explained at the time that:"In the light of greater global competition, we need to ensure that Labuan remains competitive as an international offshore financial centre. Given that investors in Labuan undertake a wide range of financial services, a flexible tax regime is necessary."

Despite is hitherto low profile however, growth in the Labuan offshore sector has been strong. As of March this year, there were more than 6,500 companies operating in Labuan, including 58 offshore banks with total assets of USD26.6 billion, 132 offshore insurers with more than USD600 million in capitalisation, 106 leasing companies with USD16 billion in leases and 22 fund management and 46 listed instruments worth USD16.1 billion.

By the year 2012, the Labuan Offshore Financial Services Authority (Lofsa) is aiming to have 50,000 companies registered in the financial centre.

“Labuan is an unpolished gem that can be sold to the world," Crawford observed.

"I am sure it has the potential to be a leading business and financial centre in the region once we have polished it," he added.

UiTM Untuk Bumiputra

Tuanku Canselor UiTM



KUALA LUMPUR: Naib Canselor Universiti Teknologi Mara (UiTM), Prof Datuk Seri Ibrahim Abu Shah menyifatkan cadangan Menteri Besar Selangor, Tan Sri Khalid Ibrahim supaya UiTM dibuka kepada bukan Bumiputera sebagai usaha untuk menggadaikan kepentingan Melayu dan agama Islam.

Sambil menegaskan UiTM semalam memanggil mesyuarat ahli lembaga pengarahnya membincangkan cadangan ‘tidak perlu’ itu, beliau berkata, cadangan itu dilihat sebagai usaha mencari sokongan bukan Melayu terhadap kepemimpinannya.

“Soal ini tidak wajar dibangkitkan oleh sesiapapun kerana Bumiputera masih jauh ketinggalan berbanding kaum lain. Kita membantah bukan hanya membabitkan agenda untuk menjaga kepentingan Melayu tetapi seluruh rakyat yang mahu matlamat asal penubuhan UiTM terus dipelihara.


“Jangan bangkitkan soal ini kerana ia boleh menggugat keharmonian bangsa yang selama ini hidup dalam keadaan tenteram,” katanya.

Beliau berkata, sepatutnya bangsa Melayu diberi peluang untuk memperbaiki kelemahan untuk duduk sama taraf dengan bangsa lain.

Sementara itu, Yang Dipertua Majlis Perwakilan Pelajar (MPP) UiTM, Luqmanul Hakim Mohamed, berkata MPP akan menghantar memorandum bantahan ke pejabat Menteri Besar hari ini dan meminta beliau menarik balik kenyataan berkenaan.

Pengerusi Gabungan Pelajar Melayu Semenanjung (GPMS) Selangor, Mohamad Mustafa Latif, dalam kenyataannya, membantah kenyataan Khalid itu yang disifatkan sebagai mewakili kerajaan Pakatan Rakyat yang tidak sensitif dengan kepentingan bangsa Melayu.

“Beliau sebenarnya memungkiri janji yang dibuat selama ini untuk membela, menjaga dan memperjuangkan hak-hak bangsa Melayu,” katanya.

(Dipetik dar Berita Harian Online siaran 12 Ogos 2008)

Malam Kemuncak FFM 21

Pada 9 ogos 2008, aku dan rakan-rakan yang mengambil kursus Pengucapan Awam telah dijemput oleh pihak Astro untuk menghadiri sesi red carpet dan anugerah Festival Filem Malaysia ke 21 di Pusat Konvensyen Antarabangsa Putrajaya (PICC).

Sejujurnya aku tak lah minat sangat filem
Malaysia. Tapi bolehlah juga.

Hadir ke PICC ni jer kami dapat markah 30% untuk subjek Pengucapan Awam. Kira mudah la kerja. Cuma nak kena hantar report ringkas sikit je. Berikut gambar-gambar yang sempat diambil.........





Jeffri Din dengan bini dia mungkin



Mak mah yang mesra alam... dia dpt 2 anugerah malam tuh..Pelakon Pembantu Wanita Terbaik dan Anugerah Khas Veteran Wanita.



Farid Kamil



Ahmad Idham and wife



Jehan Miskin



Zamarul..kat belakang tu anak Rafar



Nasha Aziz...cantik cam barbie doll. Alamak, dia berpaling muka la plak...



Siti...yer akak2 sume, salam jangan tak salam




Erma Fatima dengan baju ala-ala Mesir Purba



Awal Ashaari dan Yatt...



Kuswadinata dan isteri..beliau mendapat tepukan gemuruh malam tu sebab tetap hadir walaupun tak sihat


Ni kalau tak salah mama Zizie Ezzeti..cuba zoom kat tangan dia pegang rokok Marlboro..huhuh



Eman Manan dan Rosyam..



Aku lupa la nama pelakon ni...emm..



Mustapha Kamal and wife?


Linda Onn, pengacara majlis malam tu.



Senator Tan Sri Jins Samsudin.



Hans Isaac


Dynas..Tinggi wooo....



Pelakon Gerak Khas...tak tau la nama yg kat depan ni..(sapa tau leh inform) kat belakang tu A Galak aka Sarjan Misai..



Ida Nerina dan ??

KL Dari Perspektif Ku

Petang tadi aku sempat jalan-jalan di KL. Hajat hati nak tengok wayang kat Pavilion tapi ramai sangat orang. Tak jadi lah jawabnya. Seperti biasa, aku sempat merakamkan beberapa gambar panorama sekitar KL. Tapi bateri low...sikit je lah yang dapat.



Keadaan dalam bas Rapid KL yang agak sesak.


Seorang pengemis yang tidak boleh berjalan di Jalan Imbi.



Kawasan Bukit Bintang




KLCC. Bendera Brunei digantung di sekitar KL sempena lawatan Pengiran Muda Mahkota dan Pengiran Anak Isteri Sarah ke Malaysia.



Lagi gambar KLCC



Kawasan pejalan kaki sebelah Pavilion



Area sebelah Pavilion.


Food Republic di Pavilion. Seorang budak chinese nak ambil balik botol airnya yang tergolek di lantai...cute..



Sempat tangkap beberapa gambar makanan yang disajikan di Food Republic. Harga macam biasa, boleh tahan..huhuh.

Makanan Jepun.



Makanan Vietnam. Macam sedap...




Macam popia jer...

Dari Lensa Ku

Pada hari jumaat 1 Ogos 2008, aku, Akbar, Ary, Fina, Amy dan Suzan telah ditugaskan untuk menemuramah pihak pengurusan Aldyma Travel & Tours di KL. Lepas abis temuramah, sempat gak jalan-jalan dan mengambil beberapa keping (betul ke penjodoh bilangan ni?) gambar.


Entah la apa nama bangunan ni dekat Jalan Syed Putra.


Lorong pejalan kaki berdekatan Pasar Seni.


Mak cik cleaner yang berjasa memastikan KL bersih.


I like this pic.


Foto sekeping ni bukan dari kamera aku..ary atau fina...cam best jer



Pelancong dari Taiwan..heheh


Alhamdulillah..kenyang..