Labuan IBFC and TRX City (TRXC) are joining forces to strengthen links between Malaysia’s two international financial centres.
The organisations signed a MoU in Kuala Lumpur as part of the “1 Ecosystem, 2 IFCs” approach.
The agreement will see both parties explore joint market development, research, knowledge-sharing, promotional activities and investment facilitation.
The partnership is intended to improve access between the two financial centres for businesses and investors operating across the region.
Labuan IBFC supports cross-border activities including wealth management, financing and investment structures, insurance, Islamic finance and digital financial services.
Around 5,000 operating companies are based in the centre.
TRXC is the master developer and steward of Tun Razak Exchange, Malaysia’s international financial centre in Kuala Lumpur.
More than 120 companies and around 30,000 workers are based in the 70-acre development.
Ben Quah, CEO of Labuan IBFC, said,
“As capital flows across Asia become increasingly intertwined, businesses and investors are looking for financial ecosystems that offer complementary capabilities and greater flexibility.
Our collaboration with TRX strengthens Malaysia’s proposition by connecting two centres with distinct but complementary roles, creating new pathways for businesses, investors and capital to access opportunities across the region.”
Datuk Wira Sr Azmar Talib, CEO of TRXC, said,
“Malaysia’s competitive advantage lies not in a single institution or location, but in the strength of its overall ecosystem.
By bringing together TRX’s ecosystem of institutions, businesses and talent with Labuan IBFC’s specialised international financial capabilities, we are strengthening Malaysia’s value proposition as a connected financial gateway for regional and global investors.”
Featured image: Datuk Wira Sr Azmar Talib, CEO, TRX City Sdn. Bhd. and Ben Quah, CEO, Labuan IBFC Inc.
