Takaful Malaysia close to sealing UK property investment deal

KUALA LUMPUR: Syarikat Takaful Malaysia Bhd
is close to concluding an overseas investment deal specifically in the
UK property market which would mark its foray into overseas property
investments.
Its group managing director, Datuk Mohamed Hasan Md Kamil
said on Thursday the "depreciation of the British pound and a devalued
market are a few of the factors that make investment in London
attractive".
He said this was one of the key factors and reasons of Takaful Malaysia's property investment in the UK.
Takaful
Malaysia is also moving ahead to set up a unit in the Labuan
International Offshore Financial Centre (IOFC) where the special
purpose vehicle would hold its overseas property investment.
Mohamed
Hasan said most companies or organisations would consider Jersey or
Guernsey offshore centres to set up the SPV company, but Takaful
Malaysia believed Labuan IOFC offered better advantages over the others.
"Besides
supporting the government's effort in promoting a local IOFC, Labuan
IOFC also provides a business friendly regulatory structure and a
preferential tax regime. These major factors will facilitate the
overseas investments of companies incorporated in Labuan," he said.