The Labuan International Business and Financial Centre Strategic Roadmap 2022-2026

Labuan has been long seen as a competitive international business and financial centre in Asia.  Despite the challenging externalities, Labuan IBFC continued to achieve business growth in year 2021.  In particular, the Labuan digital financial services market, which was emerged in year 2017, had grown significantly over the years with a total of 90 digital financial services licensees in year 2021.

As a continuous effort to develop the Labuan IBFC, the Minister of Finance Malaysia, YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz has officially unveiled the Labuan IBFC Strategic Roadmap 2022-2026 (“Strategic Roadmap”) on 16 June 2022. 

The Strategic Roadmap has provided a glimpse to the forward charting of Labuan IBFC over the next five years.  It aimed at transforming the Labuan IBFC into a dynamic and sustainable international centre that links and supports the economic growth of Asia’s markets, as well as contributes to the national economy.  In order to achieve this vision, 5 strategic thrusts and 2 organisational enablers have been outlined in the Strategic Roadmap as follows:

As Labuan IBFC is linked to Malaysia’s financial system, the Strategic Roadmap will strengthen the Labuan IBFC’s linkages and complement other strategic plans like the Financial Sector Blueprint 2022-2026.

Further details can be found in the Market Report 2021 and Strategic Roadmap, which may be accessed from the links above.

Soh Lian Seng
Executive Director -
Head of Tax and Head of Tax Dispute Resolution
lsoh@kpmg.com.my
+ 603 7721 7019

Bob Kee
Executive Director -
Head of Transfer Pricing
bkee@kpmg.com.my
+ 603 7721 7029

Tai Lai Kok
Executive Director -
Head of Corporate Tax
ltai1@kpmg.com.my
+ 603 7721 7020

Long Yen Ping
Executive Director -
Head of Global Mobility Services
yenpinglong@kpmg.com.my
+ 603 7721 7018

Ng Sue Lynn
Executive Director -
Head of Indirect Tax
suelynnng@kpmg.com.my
+ 603 7721 7271

Evelyn Lee
Executive Director -
Penang Tax
evewflee@kpmg.com.my
+604 238 2288 (ext. 312)

Crystal Chuah Yoke Chin
Tax Manager -
Ipoh Tax
ycchuah@kpmg.com.my
+605 253 1188 (ext. 320)

Regina Lau
Executive Director -
Kuching & Miri Tax
reglau@kpmg.com.my
+6082 268 308 (ext. 2188)

Titus Tseu
Executive Director -
Kota Kinabalu Tax
titustseu@kpmg.com.my
+6088 363 020 (ext. 2822)

Ng Fie Lih
Executive Director -
Johor Bahru Tax
flng@kpmg.com.my
+607 266 2213 (ext. 2514)