Friday, 3 February 2012 - Labuan Financial Services Authority (Labuan FSA) is currently conducting an investigation on Pubel Bedford Capital Limited (Pubel). The investigation is conducted pursuant to the relevant provisions of the Labuan Financial Services Authority Act 1996 (LFSAA) and the Labuan Financial Services and Securities Act 2010 (LFSSA).

Labuan FSA confirms that although Pubel is a company incorporated under the Labuan Companies Act 1990 to carry on trading and non-trading activities, it has not been licensed under the LFSSA to provide credit facilities nor financial assistance in whatever form or by whatever name called, to any person(s). In this regard, Pubel is not permitted to collect any deposits or receive any payments for any services in relation to providing credit facilities or financial assistance, from any person(s).

Labuan FSA further advise that only Labuan banks or Labuan investment banks licensed under the LFSSA are allowed to carry on Labuan banking business or Labuan investment banking business, which may include providing credit facilities in, from or through the Labuan IBFC. The list of licensed Labuan banks and Labuan investment banks are provided in Labuan FSA’s website at www.labuanfsa.gov.my for reference.