Tricor Bolsters Labuan Offering with Acquisition of CP TRUST Co. Ltd.

Tricor Group (Tricor), Asia’s leading provider of integrated business, corporate, investor, human resources and payroll, corporate trust and debt services, has acquired CP TRUST Co. Ltd., a leading provider of trust company services in the Labuan International Business and Financial Centre (Labuan IBFC).

This acquisition bolsters Tricor’s trust offering in Labuan, Malaysia, through CP TRUST’s rich pool of talent and sophisticated solutions. Founded in 2014, CP TRUST ranked as the Top Trust Company in Labuan for past 3 years and will integrate its vast range of services into Tricor’s existing suite of services and solutions.

Tricor Malaysia’s CEO and Managing Director, Yeap Kok Leong, said: “Tricor’s acquisition of CP TRUST further bolsters our market leadership in Labuan by expanding our range of services. Labuan’s reputation as an international financial centre is growing rapidly, and we are now strongly positioned to continue building our market share in this dynamic region. I warmly welcome CP TRUST to the team, and look forward to building on our synergies to provide the best possible services to our clients.”

Lennard Yong, Group CEO of Tricor, said: “Our expansion in Labuan reflects our confidence in the territory’s prospects as well as CP TRUST’s excellent trust company capabilities and dedicated client service mindset. By joining hands, we provide our clients an elevated offering and reinforce our commitment to meeting their every need as they grow throughout Asia. This acquisition makes Tricor an even more formidable player in Labuan and the region, and we’ll continue to build our presence here through an expansive suite of solutions backed by talented teams.”

Tricor is pleased to join hands with CP TRUST’s Ms. Bee Wong-Executive Director, whose leadership have been instrumental to the company’s impressive growth and success. Ms. Bee Wong said: “Tricor is a well-known and well-respected name in Labuan, so it’s a great pleasure to become partners in our shared vision to accelerate Labuan’s development as Asia’s newest financial centre. Our services have long helped companies thrive in the Labuan jurisdiction and therefore in Malaysia and elsewhere in Asia, and I’m confident that with Tricor’s support, we will reach new heights together.”