Welcome Remarks by Datuk Iskandar Mohd Nuli, Executive Chairman cum CEO, Labuan IBFC Inc.

KUCHING, Feb 17 (Bernama) -- Stakeholders from the Sarawak business community gathered on 15 February 2023 at the masterclass which was co-organised by Labuan International Business and Financial Centre Incorporated Sdn Bhd (Labuan IBFC Inc.) and the Sarawak Business Federation (SBF). The seminar, which was held in Pullman Kuching, showcased speakers which summarised recent developments related to the Labuan jurisdiction and participants comprising investors and players as well as representatives from the private sector and government agencies.

Labuan IBFC Inc. Executive Chairman cum CEO Datuk Iskandar Mohd Nuli delivered the welcoming remarks in which he reiterated that Labuan IBFC is well-positioned to serve as a hub for Sarawak businesses. He further commented, “Labuan IBFC has available business structures that will allow Sarawak businesses and the state government to manage their affairs in the most tax-efficient manner in a low-risk operating environment. Most importantly, establishing a base in Labuan IBFC will ensure all entities a proper and meaningful opportunity to manage their funds independently and legally.”

ACCA (the Association of Chartered Certified Accountants) applauds the intention of the Malaysian government to make green economy one of the key focus areas under the upcoming revised Budget 2023.

In line with this objective, the global professional accounting body encourages the Malaysian government to adopt green budgeting to identify priorities and options for action to enable the country to achieve an environmentally sustainable economy and fulfil its commitments against climate change.

Kuala Lumpur, Malaysia, 13 February 2023 – UOB Malaysia expects US Financial, Asia-China markets and global healthcare to provide investment opportunities amid uncertainties in 2023. The tumultuous spell of 2022 is expected to spill over throughout the year on an initial uncertain note as investors weigh on potential recessionary risks, inflation trends, and the monetary policy path of global central banks. With geopolitical tensions reassessed, China continuing its re-opening path post-COVID, and global central bank tightening slows, the storm clouds may start to break, resulting in a potential short but shallow recession in 2023. 

While many variables are still at play, a greater sense of clarity may start to emerge as we approach the second half of the year. With volatility expected ahead, steering investment portfolios through market volatilities may prove to be a challenge.  Mr Ronnie Lim, Managing Director and Country Head of Personal Financial Services, UOB Malaysia explains what investors can do in making sense out of these noises and where there might still be opportunities to build strong portfolios.