Kuala lumpur: Cheng and Co Group has strengthened its regional wealth management capabilities with the acquisition of Alpadis Trust (Labuan) Limited, now officially renamed Indah International Trust Limited. Its executive chairman, Datuk Dr Chua Hock Hoo, stated that the acquisition represents an evolution in the group’s capabilities, expanding their footprint and responsibility to serve businesses with greater global sophistication.
According to BERNAMA News Agency, Cheng and Co Group, established in 1993, is a multi-disciplinary professional services organisation with expertise in non-audit, tax, advisory, governance, corporate services, and cross-border structuring, supported by 19 branches across Malaysia, Singapore, Hong Kong, and Perth. Chua highlighted Labuan’s robust mid-shore framework, which supports trust structures, foundations, and multi-family office (MFO) platforms, making it a preferred choice among Asian and global families seeking long-term wealth protection.
Chua noted that since 2010, Labuan has been regarded as one of Asia’s attractive jurisdictions for establishing a foundation as a family office vehicle. While families may consider operating their family offices in Singapore, Hong Kong, or Johor, Labuan remains the better choice for long-term wealth protection holding structures.
Chua explained that Labuan offers a unique balance of protection, tax efficiency, international compliance, and flexibility not provided at the same level by other centres. With Indah International Trust now under Cheng and Co Group and its MFO platform launched last year, the group is well-positioned to attract more family offices to Labuan, strengthening Labuan’s ecosystem and reinforcing Cheng and Co Group’s role in supporting next-generation legacy planning.
He emphasized that this milestone aligns with the group’s three-year strategic plan centred on innovation, sustainability, and long-term value creation, directly strengthening its international presence and service depth. Labuan’s transformation from an offshore centre to a credible mid-shore financial hub, guided by stronger compliance, clearer governance, and alignment with OECD tax standards and the BEPS anti-profit shifting framework, is notable.
Chua declared that Labuan is now an internationally recognised mid-shore jurisdiction, with Labuan IBFC Inc. playing a central role in promoting it globally, supported by Labuan FSA’s regulatory oversight. Together, they form a balanced ecosystem, combining regulatory strength with global outreach, reinforcing Labuan’s position as Asia Pacific’s leading mid-shore financial hub.
He concluded that this ecosystem enables professional firms like Cheng and Co, which provides non-audit, tax, advisory, governance, corporate services, and cross-border structuring, to contribute meaningfully to Labuan’s next phase of growth.