Singapore has announced plans to take action against four major banks, including a Swiss private bank, over their involvement with the scandal-ridden Malaysian sovereign wealth fund 1Malaysia Development Bhd (1MDB).
The Labuan International Business and Financial Centre (IBFC) approved 16 new insurance and insurance-related licences in 2015 as it expanded its footprint in Asia Pacific.
Zurich Insurance has signed a deal to buy Malaysia’s MAA Takaful for $134.6m (£92.7m, €117m), giving Europe’s fifth biggest insurer a foothold in the world’s second largest Islamic insurance market.
Malaysian-based financial advisory firm Montpelier has closed its troubled Kuala Lumpur office, transferred all client business to Labuan-regulated Three Sixty Financial (360) and parted ways with two former directors, Stuart Williamson and Diane Docherty.
Zurich Insurance is poised to buy Malaysia’ MAA Takaful after receiving regulatory approval.
The Labuan International Business and Financial Centre (IBFC) has committed to playing a “facilitative role for cross-border trades and investments particularly in the Asean region”, as the fallout from the Panama Papers continues to ripple around the world.
Bahrain topped HSBC’s Expat Explorer survey with two thirds of expats feeling at home within a year of moving.
Following the sudden closure of the Kuala Lumpur office of wealth management firm Montpelier Malaysia on Friday, company director Keith Bayliss has confirmed that staff returned to work on Monday.
Wealth management and financial planning firm Montpelier Malaysia on Friday suspended directors Stuart Williamson and Diane Docherty and closed its Kuala Lumpur office.
Thai and Malaysian investors are increasingly looking beyond their local shores for investment opportunities, according to a Boston-based research house.
Malaysia’s Maybank is aiming for a soft launch of its discretionary portfolio management service in Singapore by the end of this year, Ang Mui Koon, senior director of discretionary services, confirmed in an interview with sister website Fund Selector Asia.
Singapore-based fund house Lion Global Investors has worked alongside OCBC Bank to build a private equity fund which invests in small and medium-sized companies in Singapore, Malaysia, Indonesia and China.
