This pic was taken on 2/11/2009 at 7.29 a.m
Labuan may know as free duty federal,but maybe some of you didn't know the history of financial park
October 1st, 1990 marks yet another milestone in the development of the Malaysian financial system. Labuan was launched by the Government as an International Offshore Financial Centre (IOFC), complementing the onshore financial system centred in Kuala Lumpur. This will also enhance the contribution of the financial sector to the Gross National Product of Malaysia.
Besides being strategically located right in the hub of the expanding region, other prerequisites for the success of Labuan as an IOFC include: political stability (stable Government). stable currency with minimum or no exchange control, good infrastructual support facilities such as excellent communications and transportation system with other financial centres, and professionally qualified and experienced workforce. (info from http://www.fpl.com.my/about.asp)
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