Cheng & Co Expands Mid-shore Wealth Management Presence With Alpadis Trust Labuan Acquisition

By Jailani Hasan

LABUAN, Nov 27 (Bernama) -- Cheng & 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, said the acquisition represents a powerful evolution in its group’s capabilities.

“It expands not only our footprint, but also our purpose, our reach, and our responsibility to serve businesses with greater global sophistication,” he said at the announcement of the acquisition here today.

Established in 1993, Cheng & Co Group 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 said Labuan’s robust mid-shore framework, which supports trust structures, foundations and multi-family office (MFO) platforms, continues to make the jurisdiction a preferred choice among Asian and global families seeking long-term wealth protection.

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“Since 2010, Labuan has been regarded as one of Asia’s most attractive jurisdictions to establish a foundation as a family office vehicle.

“Today, families may explore operating their family offices in Singapore, Hong Kong, or even Johor, including a growing interest in Forest City. 

“However, when it comes to holding structures for long-term wealth protection, Labuan remains the better choice,” he said.

Chua also said Labuan offers a unique balance of protection, tax efficiency, international compliance and flexibility that other centres do not provide at the same level.

“With Indah International Trust now under Cheng & Co Group and its MFO platform launched last year, Chua said the group is well positioned to attract more family offices into Labuan,” he said.

“This strengthens Labuan’s ecosystem and reinforces Cheng & Co Group’s role in supporting next-generation legacy planning,” he added.

Chua said the milestone is aligned with the group’s three-year strategic plan centred on innovation, sustainability and long-term value creation, with the acquisition directly strengthening its international presence and service depth.

He also noted 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.

“Today, Labuan stands proudly as an internationally recognised mid-shore jurisdiction,” he said, adding that Labuan IBFC Inc. continues to play a central role in promoting the jurisdiction globally, supported by Labuan FSA’s regulatory oversight.

“Together, they form a balanced ecosystem, combining regulatory strength with global outreach, and reinforcing Labuan’s position as Asia Pacific’s leading mid-shore financial hub,” Chua said.

Chua said this strong ecosystem enables professional firms such as Cheng & Co, which provides non-audit, tax, advisory, governance, corporate services and cross-border structuring, to contribute meaningfully to Labuan’s next phase of growth.

-- BERNAMA