Labuan IBFC has had seven new captives registered between
January to June 2020, thereby reinforcing its regional prominence
in the captive market. This essentially means more captives have
been set up in the centre in the first half of 2020 compared with
the entire 2019.
The 7 new captives brings a total of 56 captives registered in
the jurisdiction as of June 2020. This represents a growth of 9.8%
year-on-year and is significant when contrasted with 2019 as a
whole. Of the 7 new captives formed, 4 are foreign owned and 3 are
Malaysian entities, thereby reinforcing Labuan IBFC's role as a
regional risk intermediation hub.
And of the 7, 5 are protected cell companies (PCC).
