The centres want, among other goals, to bolster Malaysia's standing as a regional financial gateway.

Two Malaysian financial jurisdictions, Labuan IBFC and TRXC, have agreed to strengthen their collaboration to boost investment and capital flows across Asia. 

Late last week, the organisations signed a memorandum of understanding in Kuala Lumpur.

TRXC and Labuan IBFC will explore joint market development initiatives, knowledge-sharing and research, promotional activities and investment facilitation.

“The collaboration is intended to create clearer pathways for businesses and investors to access the complementary capabilities of both centres, while strengthening Malaysia's proposition as a regional financial gateway,” the centres said in a statement. 

Labuan IBFC hosts about 5,000 operating companies; TRXC is a wholly-owned company of the Minister of Finance and is the master developer and steward of Tun Razak Exchange (TRX), Malaysia's international financial centre.