Ru Eng
It's kind of fun to do the impossible
Walt Disney

Administration services

In terms of the management of general administration for a Labuan Company, our clients can be assured we will handle the compliance elements, so they can focus on their marketing efforts. Our administration services include:  

Accounting (including technical accounting) through our in-house IT system

  • Keeping track of receivables and payables
  • Establishing business accounts by original currency (multiple currency)
  • Producing accounts for various financial reporting purposes, including management reports, financial reports for stakeholders/auditors and statutory reports

Treasury and cash flow management

  • Enabling the control of cashflow for receipts and payments, as well as general expenditures, by executing proper payments procedures
  • Suggesting a budget to control the level of cash and solvency margin
  • Ensuring due compliance with Anti-Money Laundering controls

Statutory and regulatory compliance

  • Preparing and submitting reports to LFSA and other regulators
  • Issuing updates on new Laws and Guidelines applicable to the Labuan entity
  • Performing compliance checks and working with regulators and internal auditors on compliance matters

Administration and human resources

  • Providing professional executive manpower for the Labuan entity with local knowledge and technical know-how
  • Offering human resource management where applicable – covering recruitment, registration, payrolls and appraisals

Record keeping

  • Keeping records in hard or electronic copies, in a well-structured manner
  • Securing records and ensuring they are kept confidential
  • Producing procedures for the keeping of records, which are based on applicable laws and guidelines, as well as complying with the provisions of AML/CFT
Challenge Group Presentation
Agricultural Insurance
Additional services
The operation of our Rent-a-Captive program is similar in nature to the operation of a Captive Insurance Company, but...
A Captive is a unique and very flexible tool which can effectively solve a number of problems: Significant cost...
Challenge Group has underwriters with many years of underwriting experience in both treaty and facultative business for...
Since Challenge Group Brokers (UK) Ltd. became a Lloyd’s broker, it has been strengthening its position in the London market. As a result, our London team has been growing and a larger office was required to accommodate the growth. Challenge Group Brokers (UK) Ltd. is pleased to announce it...
6th Asia Insurance Brokers’ Summit, which took place on 13-14 March in Kuala Lumpur, once again raised the topic of a changing brokers’ role in a modern marketplace. At Challenge Group we believe that rapidly progressing digitalization can open new opportunities and enhance the level of...