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Mahathir, Malaysia and the Labuan International Offshore Financial Centre: Treasure Island, Pet Project or Ghost Town?

In: Offshore Finance Centres and Tax Havens

Author

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  • Jason P. Abbott

Abstract

Labuan is a small arrowhead-shaped island that lies off the northwest coast of Borneo, close to the coastline of Sabah and not far from Brunei. Both the island’s history and the Malaysian government’s aspirations are disproportionate to its size. The island’s fine anchorage and coal deposits on its northern tip attracted the interest of the British who acquired the territory in 1846 when the island was yielded by the Sultan of Brunei to the British Crown. Keen to establish Labuan as a coaling station for passing steamboats, the island was made a free-port in 1848, and in 1889 was incorporated into British North Borneo.

Suggested Citation

  • Jason P. Abbott, 1999. "Mahathir, Malaysia and the Labuan International Offshore Financial Centre: Treasure Island, Pet Project or Ghost Town?," Palgrave Macmillan Books, in: Mark P. Hampton & Jason P. Abbott (ed.), Offshore Finance Centres and Tax Havens, chapter 8, pages 192-211, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-14752-6_8
    DOI: 10.1007/978-1-349-14752-6_8
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