NOTIFICATION

Labuan FSA is constantly improving its digital platform to enhance delivery system to its stakeholders. These include the creation of a digital portal called REEFS (“Real Time Search of Company Status”). The REEFS was implemented to provide a real time search of companies’ status and to eliminate manual process. The public can benefit from the instant response and up-to-date record checking, as well as verification of Labuan companies’ status in the Registry’s record.

REEFS can be accessed either via Labuan FSA’s website at www.labuanfsa.gov.my or via the COR@L system at www.lfsacoral.gov.my/reefs. To obtain the desired search result, the EXACT company name OR its registration number would need to be entered.

In addition, in line with the Labuan IBFC’s continued emphasis on improving the ease of doing business, Labuan FSA has also enhanced its e-payment platform, LEPAY (“Labuan FSA E-Payment”), to facilitate ringgit payment transactions by Labuan trust companies and the authorised public users typically for non COR@L business services. e.g. fast track processing related payment, third party company search, letter of information (LOI), Certified Filing Document and etc. LEPAY enhancement has simplified payment processes while eliminating administrative burden of trust companies and Labuan entities.

Labuan FSA has also been sharing information with the trust companies in Labuan IBFC, by providing a dashboard of monthly statistical report of Labuan companies’ status on the COR@L’s website. Amongst others, information published include new incorporations, segregation of companies by nature of business and by countries of origin. This information serves as a performance indicator for Labuan companies, and would be useful for the trust companies in formulating their business and marketing strategies.

Moving forward, Labuan FSA will continue to enhance its digital infrastructure to further improve the delivery efficiency and ease of business facilitation.