Labuan officially the Federal Territory of Labuan (Malay: Wilayah Persekutuan Labuan), is an island federal territory of Malaysia.
It includes Labuan Island and six smaller islands off the coast of the state of Sabah in East Malaysia. Labuan's capital is Victoria, which is best known as an offshore financial centre offering international financial and business services via Labuan IBFC since 1990, as well as being an offshore support hub for deepwater oil and gas activities in the region. It is also a tourist destination for people travelling through Sabah, nearby Bruneians, and scuba divers. The name Labuan derives from the Malay word labuhan, which means "harbour".
The Federal Territory of Labuan is an autonomous entity in Malaysia, established in 1989 as an international offshore center for financial and asset management activities.
This territory comprises Labuan Island and six smaller islands, totaling 92 km². It is located eight kilometers from Borneo, the largest island in the country, with the Sultanate of Brunei, considered the wealthiest state in Southeast Asia, as its closest neighbor.
The Federal Government of Malaysia governs the Federal Territory of Labuan, and its current administrator is Datuk Bashir Alias. It is worth noting that Labuan does not rely solely on the offshore financial sector, as it has a significant oil industry and a port with oil terminals that export to countries such as South Korea and India.
Furthermore, the tourism sector is also an important part of Labuan's economy, thanks to its beautiful beaches and the wide variety of outdoor activities offered in the area.
Communication with the rest of Malaysia is primarily by ferry and air, and the territory's infrastructure is well-developed to serve both visitors and businesses. In short, the Federal Territory of Labuan is an entity with a diversified economy and a strategic location in Southeast Asia.
In 2021, Labuan's GDP per capita was US$18,174. Among all regions of Malaysia, only the capital, Kuala Lumpur, has a higher GDP per capita: US$24,864.
Over the past two decades, the management of financial services in Labuan has spurred significant development of local infrastructure, particularly telecommunications systems.
The island has a population of approximately 86,908. The majority of the population speaks Malay, but English is also widely spoken in business circles. Communicating with local agents in English should not be a problem.
Face value | Family number | English name | Scientific name
1894.01
Overprint LABUAN on North Borneo 1894.01
5c
13
Great Argus Argusianus argus
1896.01
24.09.1896
Overprint 1846 JUBILEE 1896 on 1894.01
5c
13
Great Argus Argusianus argus
1897.01
Overprint LABUAN on North Borneo 1897.01
5c
13
Great Argus Argusianus argus
Black and green
1899.01
19.07.1899
Surcharge on 1897.01
"4 CENTS"
4c
13
Great Argus Argusianus argus
1900.01
23.02.1900
Overprint LABUAN on North Borneo 1897.01
5c
13
Great Argus Argusianus argus
Black and blue
1901.01
Overprint POSTAGE DUE on 1900.01
5c
13
Great Argus Argusianus argus
1904.01
Surcharge on 1897.01
"4 cents"
4c
13
Great Argus Argusianus argus
Philately has been considered as an "auxiliary science of history" because it is based on the general principles of other sciences, which in turn contribute to enrich it. It acquires knowledge of the sciences, of the arts, of languages and opens an immense road of social relations through all countries. This science broadens broad horizons of culture, discovers artistic temperaments and offers the interest of the new and the unknown, while performing a positive therapeutic wor.
