…at the expense of SME home-grown companies?
Dateline 2011-11-01:
The Labuan Financial Services Authority (Labuan FSA) and the Malaysia Petroleum Resources Corp (MPRC) have launched a slew of incentives to attract oil and gas traders to Malaysia.
The key incentives, aimed at turning Malaysia into an international hub for the oil and gas industry, was offered to the Labuan International Trading Commodity Company (LITC) under the Global Incentives for Trading (Gift) Programme by MPRC and Labuan FSA.
Those incentives include a flat corporate tax rate of 3% of chargeable income, 100% exemption on director fees paid to non-Malaysian director, 50% exemption on gross employment income for non-Malaysian professional traders and others in managerial capacity of the LITC companies, and other various tax exemptions and fiscal incentives.
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Posted by Wata 
Wata - Malaysian Oil and Gas Engineer 