Malaysia is committed to meet the internationally-agreed tax standards by signing the Organisation for Economic and Cooperation Development (OECD)-led initiative, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI).
Datin Shelina Razaly Wahi of Abdullah Chan & Co commented that the Revised Guidelines present an opportunity to the aviation leasing industry in Malaysia and the necessary changes will demonstrate sufficient substance in the jurisdiction.
The Labuan IBFC Transformational Plan is designed to turn Labuan into a well-integrated regional economic hub to better serve the business, investment and intermediation needs of the region, including the East Malaysian and Asian markets.
Trade publication, Captive Review, has named Farah Jaafar-Crossby as one of the eight professionals as ‘Ones to Watch’ in 2018.
Speaking of substance, do join us on 22 March at our Asset Leasing Symposium 2018 themed “Meeting the Needs of Transparency and Substance”. This event is specifically hosted to discuss developments in global asset leasing regulations and changes that lie ahead, including the recently revised Labuan IBFC’s asset leasing guidelines. More information is available on our website.
Hengyuan Refining Co Bhd has secured US$430 million (RM1.7 billion) financing facilities from three banks to partly refinance its existing term loan and its planned capital expenditure (capex). Bilateral agreements were signed with Ambank (M) Bhd — Labuan Offshore Branch, China Construction Bank (Malaysia) Bhd (CCB) and Maybank International Labuan Branch.
Khazanah Nasional Berhad has priced exchangeable Sukuk of USD320.8 million (RM1.27 billion), which will be issued via a Labuan-incorporated independent special purpose vehicle, Cindai Capital Ltd.
The Guidelines on the Establishment and Operations of Labuan Leasing Business which were published on 1 August 2013, have recently been updated and the revised Guidelines (Revised Guidelines) were published by the Labuan Financial Services Authority (Labuan FSA) on 29 December 2017.
Labuan is banking on seven pillars to drive its second phase of economic growth from this year until 2030.
