Labuan

 

Labuan is an island that is located approximately 8km off the coast of the state of Sabah at the mouth of the Brunei Bay. It comprises of one main island and six smaller ones, thus covering an area of 92 sq. km. It is also centrally located in the middle of the Asia-Pacific region. Labuan's inhabitants are very cosmopolitan. They come from all walks of life and from various regions around the world, thus creating a diverse and stimulating society.

Once a part of the Sultanate of Brunei, Labuan was ceded to the British in 1846. It remained under the British rule for 115 years except for the three years when it was under the Japanese occupation. With the increasing change in colonization, Labuan was ceded to the state of Sabah in 1963. Subsequently, its administration was handed to the Federal Government of Malaysia in 1984. Recognizing Labuan's strategic location and proximity to major shipping routes and offshore oil and gas fields, the Federal Government launched a long-term development program to jump-start Labuan's stagnating economy and to encourage the influx of both domestic and foreign investments. As Malaysia's only deepwater anchorage, Labuan is a free port, a Federal Territory, and an International Offshore Financial Centre (IOFC).