This is one of the comment we received from one of our reader on the above article. Your comment was greatly appreciated, thanks to mr Mohd Fareez Kamal.
The Labuan IBFC is totally involved..i still remember, in 2009 when Labuan IBFC launch a new real saving packed that been said:
“As a low risk, low tax jurisdiction with a full complement of service providers supported by modern infrastructure, operational costs in Labuan IBFC can often be up to 40% lower than its nearest neighbour, Singapore.
Labuan IBFC will brings with it the benefits of access to the country’s double taxation agreements network (DTAs) with 69 countries, one of the largest in the world.”
Now, after a year, i cant see nothing mark in the profit margin. so, if Labuan IBFC declared the restriction will benefit people,it totally bluff!!Labuan IBFC is a lose company!!the amount of crediotor is more than 85billion!!(refer the malaysia economy report-2009)