Mila Novita TEMPO.CO, Jakarta - The high number of tourists in Labuan Bajo does not match increasing hotel occupancy in the area The tourists prefer to stay on boats and engage in various activities there the Acting Director of the Labuan Bajo Flores Authority (BPOLBF) He stated that more than 80 percent of tourists live on board whether it is a traditional pinisi ship or a modern safari ship there are packages offered by operators in Labuan Bajo where they spend more time living on board," said Frans on Tuesday Tourist boats in Labuan Bajo generally offer trips to several points in the Komodo National Park area and its surroundings Various tourist activities are usually included in this trip Frans encouraged travel agents in Labuan Bajo to sell tour packages in Labuan Bajo and several areas of Flores Island touring is not only done by sea but also by land and we also encourage new destinations in Flores so it is more comfortable for tourists to visit," he said Frans noted that Labuan Bajo's tourism sector is growing positively due to the high interest of tourists in visiting several tourist destinations This is supported by direct international flights making it easier for foreign tourists to visit he admitted that during the last Eid holiday there was a decrease in tourist visits compared to the previous year the number of tourists recorded was around 49,634 until April 2025 there is a shift or it can be said that there is a one percent gap but the point we want to convey is that the trend is still relatively good," he said Frans is optimistic that the number of tourist visits can be increased by 2025 especially with direct international flights from Malaysia and Singapore to Labuan Bajo bringing many tourists from different countries "This market composition is usually divided based on the country of origin there are still five top rmakets which are China and there are still conventional markets like Europe and America declining but they are quite stable in visiting destinations in Labuan Bajo Flores," said Frans Teguh Editor's Choice: Philippines to Launch Digital Nomad Visa Click here to get the latest news updates from Tempo on Google News Jennie, Lisa, and Rose BLACKPINK Gather at the Met Gala 2025 List of Baeksang Arts Awards 2025 Winners KOSTCON 2025, the First Largest K-Drama OST Concert in Jakarta, to Take Place on August 2nd 10 Best Cities to Visit in Japan Besides Tokyo to Add to Your Bucket List 10 Recommended Budget-Friendly Tourist Destinations in the United States What Are the Cheapest Businesses to Start from Home? 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Iklan Flights in Labuan Bajo Paralyzed by Lewotobi Eruption Tourists Evacuated Ships are an alternative transportation when flights are paralyzed the number of ships available is still limited Audio Berita This article has been translated using AI. See Original Please note that this article was automatically translated using Microsoft Azure AI, Open AI, and Google Translation AI. We cannot ensure that the entire content is translated accurately. If you spot any errors or inconsistencies, contact us at hotline@kompas.id and we'll make every effort to address them TEKS PT PELNIPelni ship KM Egon helps transport tourists from Sumba Island to Labuan Bajo on Sunday (10/11/2024) KUPANG, KOMPAS - The impact of the eruption of Mount Lewotobi Laki-Laki has temporarily stopped flights to and from all airports on Flores Island is helping evacuate tourists who are unable to use airplanes KM Egon, which was scheduled to sail from Waingapu Port, Sumba Island, NTT, to Lembar Port, Lombok Island, West Nusa Tenggara, was diverted to Labuan Bajo on Sunday (10/11/2024) afternoon The tourists were scheduled to take an airplane from Waingapu to Labuan Bajo located in the western part of Flores Island is affected by the eruption of Mount Lewotobi Laki-Laki situated in the eastern part of Flores The volcanic ash plume from the mountain is heading west and has reached Labuan Bajo Pelni Corporate Secretary Evan Eryanto stated that to assist tourists "We will immediately coordinate with the Ministry of Transportation to obtain permission to adjust the routes," he said The increase in entrance fees to Komodo National Park has now become a controversy in this super-priority tourist destination KM Egon arrived in Labuan Bajo on Sunday at 16:00 WITA and departed at 19:00 local time and is scheduled to arrive on Monday (11/11/2024) at around 18:00 local time KM Egon is a RoRo type ship with a carrying capacity of 500 people and 85 four-wheeled vehicles The regular route of KM Egon is Surabaya - Batulicin - Pare Pare - Bontang - Pare Pare - Batulicin - Surabaya - Lembar - Waingapu round trip "We also extend our deepest apologies to prospective passengers who are inconvenienced due to this route adjustment caused by an emergency situation," added Evan Also read: Lewotobi Laki-laki Mountain Danger Radius Becomes 9 Kilometers The impact of the eruption has caused flights to and from Flores Island to be temporarily suspended There are six commercial airports in Flores There are usually daily flight activities there The eruption of Mount Lewotobi Laki-laki in East Flores Regency East Nusa Tenggara on Saturday (11/9/2024) evening Now, alternative transportation is shipping using Pelni ships passing through each port once every two weeks the government should open its eyes to the fact that maritime transportation in the archipelago regions is still very limited The number of ships should be increased so that they can serve as an alternative when flights are suspended," said Yohanes Masan (40) a passenger on a ship from Larantuka to Kupang The volcanic ash plume is heading west and reaching Labuan Bajo Yohanes navigated a long route and changed ships he boarded a wooden boat to Lembata Island for a 3-hour voyage he waited for the arrival of KM Bukit Siguntang for 15 hours He then boarded that ship and sailed to Kupang the eruption escalation of Mount Lewotobi Laki-laki was still high and tended to increase Head of Mount Lewotobi Laki-laki Monitoring Post Herman Yosef Mboro reported that the eruption continued to occur the eruption lasted for about 1 minute 48 seconds The eruption of Mount Lewotobi Laki-Laki in East Flores Regency East Nusa Tenggara occurred again on Thursday (11/7/2024) morning The point of capture was from the north side of the mountain The height of the eruption column reached 1,000 meters above the peak of the mountain The height of the mountain is 1,584 meters above sea level The danger zone was expanded to 9 kilometers from the center of the eruption Continuous eruptions have occurred since Sunday (3/11/2024) Most of the victims were hit by fire material thrown from the crater of the mountain Also read: Last Time at the Foot of Mount Lewotobi Men and Geophysics Agency (BMKG) has issued an early warning for extreme weather during the 2024 Christmas and 2025 New Year period urging the public to stay alert and prepare to minimize the risk of accidents This extreme weather is linked to the La Niña phenomenon expected to increase rainfall by 20-40 percent above normal levels The agency also stresses the need for vigilance particularly regarding the potential for natural disasters Acting Director of the Agency for the Labuan Bajo Flores Authority advised tourists and the public in the Labuan Bajo Flores area and surrounding regions to remain aware of the extreme weather "Tourists are urged to heed the weather warnings issued by authorities for their safety before planning any travel activities," he said The authority is collaborating with the Meteorology and Geophysics Agency of West Manggarai Regency and other related organizations to provide continuous weather updates and assess potential disaster risks Frans further emphasized several recommendations for tourists visiting Labuan Bajo during the holidays Visitors are advised to stay informed about weather warnings The Labuan Bajo Flores Authority is working with tourism stakeholders to strengthen mitigation efforts and ensure the safety of visitors These mitigation measures aim to reduce the risks of extreme weather and ensure smooth tourism activities Frans reiterated that security and safety are top priorities and that all parties must collaborate to ensure public safety "Security and safety are our top priorities so it is expected that all parties will work together to ensure everyone's safety," he concluded Real-time weather information is available through the @infobmkg platform TEMPO.CO, Jakarta - The West Manggarai Regency government in East Nusa Tenggara (NTT) province will ban the use of plastic bottled water in Labuan Bajo This was revealed by the Regent of West Manggarai when attending the launch of the Clean Tourism Movement program in Labuan Bajo on Saturday The launch was attended by Deputy Minister of Tourism Ni Luh Enik Ermawati According to Endi, the ban aims to reduce waste volume in Labuan Bajo, one of Indonesia's leading tourist destinations. He hopes that the Port Authority and Harbor Master's Office (KSOP) will assist in checking tourist boats operating in the area to ensure that they do not carry plastic or glass bottled water.  Endi hopes the boats will be barred from departing if found carrying bottled water “The goal is to maintain our environment well and ensure the sustainability of our tourism,” he said Ni Luh Enik Ermawati said that the Clean Tourism Movement in Labuan Bajo was launched to create a globally competitive tourist destination “Not only can it increase the awareness of local communities but it may allow for the destination to become competitive at a global scale,” she said The Clean Tourism Movement is one of the main programs of the Ministry of Tourism that has since been launched in 16 locations spread across various priority destinations such as Labuan Bajo The Tourism Ministry will provide assistance and monitoring for the Clean Tourism Movement with each destination expected to implement integrated waste management which is deemed crucial as tourism activities have so far generated waste in the sea The Clean Tourism Movement in Labuan Bajo took place in two separate locations namely the Marina Waterfront area and Pede Beach The event included a massive garbage cleaning activity involving 2,000 participants with the collected trash weighing more than one ton Editor’s Choice: 4 Reasons Why Labuan Bajo is Your Must-Visit Destination Tripdvisor Reveals the Best Hotel in the World for 2025 Most Tourists in Labuan Bajo Choose Live-On-Board Experience Thailand Invites Singapore to Join "Six Countries Prison-Themed Hotel in South Korea Offers Unique Stress Relief for the Overworked Uzbekistan Launches Golden Visa Scheme to Boost Economy Turning Organic Waste into Lush Gardens: Alana Sentul's Green Revolution Jakarta's Plan for Cat Island Tourist Spot Underway Prabowo Claims 99.99% Success Rate for Free Nutritious Meal Program caused by the formation of the 91S tropical cyclone in the Indian Ocean have led to a series of boat accidents across the country including in the popular tourist destinations of Bali and Labuan Bajo severe weather caused a boat carrying seven foreign tourists to capsize off the coast of Kelor Island in East Nusa Tenggara (NTT) Head of the Maumere Search and Rescue Agency in NTT departed from Labuan Bajo in West Manggarai Regency at around 1:00 a.m for a trip to several small islands near the popular fishing town strong winds and high waves caused the anchor to drag which ultimately led to the boat capsizing," he said on Saturday Fathur added that a phinisi ship that happened to pass through the area was able to rescue all ten people on board "After receiving the report of the accident and safely transported all the passengers back to Labuan Bajo."  Delivered straight to your inbox three times weekly this curated briefing provides a concise overview of the day's most important issues covering a wide range of topics from politics to culture and society Please check your email for your newsletter subscription another boat carrying 16 people capsized in rough waters off Nusa Penida District resulting in the death of an Australian tourist and injuries to two others Hanin Marwah “We inform you that Komodo International Airport has reopened today to serve you,” the airport announced on its official Instagram account A total of 12 flights were initially scheduled to depart from Komodo Airport on the reopening day According to the Flight Information Display System (FIDS) six of these flights were subsequently canceled including those to Denpasar at 8:55 AM and 5:35 PM The airport advises travelers to verify flight schedules with their respective airlines The closure of Komodo Airport was implemented following a Notice to Airmen (NOTAM) issued by the government due to the volcanic ash from Mount Lewotobi Laki-laki affecting flight operations Flight operations were initially expected to resume on Monday afternoon This extended closure was attributed to the renewed eruption of Mount Lewotobi Laki-laki on Tuesday Head of the Geological Agency of the Ministry of Energy and Mineral Resources (ESDM) the eruption produced loud noises heard up to Maumere City The twin-peaked volcano also generated two lava flows each reaching distances of 3.8 and 3.9 kilometers “Continuous eruptions are caused by the current open system of Mount Lewotobi which allows for direct magma supply leading to eruptions This is indicated by the absence of shallow or deep volcanic earthquakes,” Wafid explained on Wednesday Dinda Shabrina contributed to the writing of this article Editor's Choice: Mount Lewotobi Erupts; Canceled Flights at Lombok Airport Affect Nearly 4,000 Passengers Click here to get the latest news updates from Tempo on Google News Learn About the Outsourcing Practices Prabowo Intends to Scrap Prabowo: Bill Gates to Support Free Nutritious Meal Program in Indonesia Prabowo Rejects 'Puppet President' Label, Denies Jokowi's Control Manpower Minister Unveils Reasons Behind Over 24,000 Layoffs by April 2025 Indonesia's Mount Semeru Erupts 3 Times This Morning West Sumatra's Mount Marapi Sees Another Eruption Mount Marapi Blasts Ash 1,000 Meters Into Sky in Eruption Labuan Bajo to Ban Use of Plastic Bottled Water Geological Agency Clarifies Mount Gede Eruption Hoax Mount Semeru Erupts on Eid al-Fitr Morning Indonesia's Lewotobi Laki-Laki Volcano Erupts; Some Bali Flights Canceled Indonesia Raises Mount Lewotobi Laki-Laki Alert Status to Highest Authorities warned holidaymakers and local residents in Labuan Bajo East Nusa Tenggara (NTT) to be cautious of extreme weather conditions that are expected to occur until early next week The meteorology station forecasts that extreme weather events ranging including thunderstorms and strong winds will take place until Monday in several districts known as popular tourist destinations The agency also urged the public to anticipate potential impacts from the extreme weather such as flooding and landslides that can potentially damage houses and other public facilities Maria urged the public and tourists to “always follow the guidance of port authorities and relevant agencies” on top of following updated information from authorities on local weather conditions Labuan Bajo is a port town in the western tip of Flores Island in NTT The port is considered the main gateway to Komodo Island famous for its Komodo dragon and various underwater attractions In response to the extreme weather warning the Labuan Bajo Seaport Authority issued on Thursday a notice to ships sailing in waters around Labuan Bajo and Komodo Island to remain alert for high waves and strong winds until next Monday In its notice, the port authority urges ships to abort sailing and remain docked in extreme weather conditions, as reported by tribunnews.com Yunia Pratiwi TEMPO.CO, Jakarta - Labuan Bajo is a destination fitting for nature lovers and adventure seekers in East Nusa Tenggara (NTT) The region is one of the five super priority destinations designated by the Ministry of Tourism and Creative Economy in 2019 Other super priority destinations include Borobudur Temple The tourism ministry has targeted tourist visits to Labuan Bajo to reach 1.5 million per year it is undeniable that tourist interest in Indonesia remains concentrated on certain destinations AirAsia MOVE encourages tourists to expand their exploration to more destinations This lines up with the vision of the UN-initiated Global Tourism Resilience Day every February 17 aimed at promoting the resilience and sustainability of the tourism sector Marketing Manager of AirAsia MOVE Indonesia said that they continue to support the local tourism economy especially in areas that still need more visibility One of the initiatives they have made is promoting across Southeast Asia through influencer communities and offering attractive deals Here are four irresistible reasons why Labuan Bajo belongs on your bucket list Labuan Bajo is known as the world's only natural habitat for the ancient Komodo Komodo National Park also offers extraordinary underwater beauty making it a perfect place for diving and snorkeling activities tourists can also hike to the top of Padar Island to witness the dramatic landscape of the islands many boats will dock at Kalong Island to enjoy the sunset accompanied by the natural phenomenon of the migration of thousands of bat colonies Reaching Labuan Bajo is now faster and more practical with various airlines offering direct flights to Komodo International Airport Labuan Bajo still has affordable solutions You can choose local budget accommodations such as Eco Tree Hotel and then use a speedboat to explore the Komodo National Park This option is considered more cost-efficient than sailing with a pinisi boat for several days Another benefit of using a speedboat is that tourists can explore various popular destinations in a day each tourist spot in the Komodo National Park has its own uniqueness Pink Beach attracts attention with its red sandy beach Manta Point offers the experience of interacting directly with graceful manta rays while Siaba Besar is a paradise for divers who want to see a cluster of turtles moving from one spot to another can be enjoyed without having to spend a lot of time sailing Editor's Choice: 7 Tips to Plan the Best Romantic Getaway of Your Life World's Best Muslim-Friendly Country Destinations AirAsia: Passengers to Thailand Must Fill Out TDAC Starting May 1 The Oldest Temples in the World Still in Use Today Offshore Adventures: 5 Best Islands to Visit in Africa Jepara's Top 5 Tourist Destinations Celebrating RA Kartini's Legacy Indonesia AirAsia Launches Bali-Adelaide Flight Route Universitas Airlangga Official Website UNAIR NEWS – Universitas Airlangga (UNAIR) is working to develop Gili Iyang Island into a pristine eco-friendly tourist destination similar to Labuan Bajo aiming to attract both domestic and international visitors This transformation will involve a multidisciplinary approach drawing on expertise in areas like environmental science This vision was outlined by UNAIR’s Vice-Rector for Research during the unveiling of several of UNAIR’s innovative products and initiatives on Gili Iyang Island The six products introduced include the Taman Toga herbal garden from the Faculty of Pharmacy a water refill station from the Faculty of Science and Technology (FST) and a tourism museum developed by the Faculty of Vocational Studies with contributions from the Faculty of Pharmacy the Faculty of Fisheries and Marine Sciences This event was part of the 2024 Airlangga Community Development Hub (ACDH) which began in 2022 as part of UNAIR’s community service program and digital economies that are rooted in local wisdom in two villages on Gili Iyang Island: Banraas and Bancarama “Both local and international tourists will be drawn to a destination that is clean This is what we aim to create on Gili Iyang and UNAIR is ready to support the project through a multidisciplinary approach,” said Prof places like Finland have established model green islands and Gili Iyang has the potential to follow suit “I’m optimistic that Gili Iyang can progress further Puspaningsih also shared that UNAIR conducted research to understand the island’s unusually high oxygen levels Satellite studies revealed that the highest oxygen concentrations were found not on land These organisms produce oxygen through photosynthesis by absorbing CO2 To maintain and boost oxygen levels on Gili Iyang UNAIR plans to cultivate microalgae on land starting next year UNAIR will plant microalgae on a one-hectare plot allowing oxygen to be produced from both the sea and the land This is one of UNAIR’s concrete steps to enhance oxygen levels on Gili Iyang,” Prof Puspaningsih proposed planting trees and crops around the area that would provide economic benefits to the local community such as medicinal plants or other crops that could be used in health supplements This initiative would help turn Gili Iyang into a lush Puspaningsih observed plastic waste along the coastline UNAIR intends to help the community recycle plastic waste into useful materials and convert straw into livestock feed “Our goal is to make Gili Iyang a fully integrated environment where sustainable farming and circular economy can all coexist,” she said Head of UNAIR’s Institute of Life Sciences elaborated on UNAIR’s plans to enhance oxygen levels on Gili Iyang through microalgae cultivation on the one-hectare site The microalgae industry has a wide range of applications “We’ve designed a machine that can convert microalgae into biodiesel Zaidan envisions a future where visitors to Gili Iyang take home microalgae-based products such as health supplements or facial masks the microalgae cultivation will have a capacity of 10 tons Gili Iyang will not be expected to maintain its status as having the second-highest oxygen levels in the world but rise to first bringing significant benefits to the local population UNAIR also unveiled a blueprint for developing Gili Iyang as a Green Island and as a partner region for the university The event’s highlight included a social outreach program offering mass medical services along with assistance from the Gili Iyang Health Center and the Sumenep Health Department in addition to the mass medical treatments the Faculty of Medicine and the Midwifery Program conducted VIA (Visual Inspection with Acetic Acid) screenings for cervical cancer doctors can detect potential cervical cancer through color changes in the tissue Santoso emphasized that cervical cancer is the third leading cause of cancer-related deaths among women in Indonesia indicating that the prevalence remains high The VIA method provides an effective early detection tool and given the high prevalence of cervical cancer we’re offering more than just medical treatments—we’re also providing cancer screenings,” he said The mass medical services included basic health checks supported by the Faculty of Vocational Studies for early screenings and the Faculty of Pharmacy for medication distribution These services included blood sugar and blood pressure tests Copyright 2021 Universitas Airlangga. All Rights Reserved. CENTER FOR COMMUNICATIONS AND PUBLIC INFORMATION (PKIP) Shanhai-based Zhibao Technology has launched Zhibao Labuan Reinsurance Company Limited a newly licensed reinsurance subsidiary based in Labuan The announcement follows the approval of Zhibao Labuan’s license by the Labuan Financial Services Authority (LFSA) on April 14 allowing the company to engage in general reinsurance business outside mainland China Zhibao Labuan will be led by Guangtong (Arthur) Ren as principal officer. Ren also serves as Zhibao’s executive director and chief actuary. He brings nearly three decades of experience in the insurance and finance sectors, including senior roles at AIG China such as chief financial officer and regional chief actuary for Greater China Get the latest reinsurance news direct to your inbox twice a week. Sign up here His earlier career includes positions with Boston Consulting Group and Ping An Insurance Ren holds an MBA from London Business School along with a BSc in Mathematics and an MSc in Finance from Nankai University in China The formation of Zhibao Labuan marks a strategic expansion for Zhibao which currently generates most of its revenue from digital insurance brokerage and managing general underwriter (MGU) fees through its Chinese operations Zhibao said that the new entity is expected to provide an additional revenue stream through reinsurance premiums and potential underwriting gains the company could effectively double its revenue per policy by combining its brokerage commission with reinsurance participation through Zhibao Labuan the goal is for Zhibao Labuan to eventually reinsure a limited portion of the premiums generated by Sunshine Insurance Brokers and Zhibao Health The parent company will continue to focus primarily on brokerage services with Zhibao Labuan acting as a minority risk carrier for select lines of business Zhibao CEO Botao Ma said the creation of the reinsurance entity provides access to additional revenue channels and positions the company within the insurance market in Labuan which is known for its international reinsurance activity Ma also described the initiative as a means of leveraging Zhibao’s data and customer insights to tailor offerings and support the company’s broader objective of diversifying income sources Zhibao Technology is a Chinese insurtech firm specializing in digital insurance brokerage services The company operates primarily through a 2B2C (business-to-business-to-consumer) embedded insurance model delivering tailored insurance solutions to end-users via business partners In April 2024, Zhibao went public on the NASDAQ raising US$6 million through its initial public offering Please feel free to share your comments below Get the latest reinsurance news direct to your inbox twice a week. Sign up here Dewi Elvia Muthiariny Petir Garda Bhwana TEMPO.CO, Jakarta - The Labuan Bajo Flores Tourism Authority (BPOLBF) is set to develop Parapuar Park as a new tourist destination in Labuan Bajo A groundbreaking ceremony for the park is scheduled for August 8 Frans Teguh, Acting Director of BPOLBF, envisions Parapuar Park as a fresh option for visitors to Labuan Bajo, especially considering the planned periodic closures and an open-close system for Komodo National Park in 2025 Parapuar Park has a strategic location in Labuan Bajo’s city center just five minutes from Komodo International Airport and seven minutes from the Marina Waterfront area “I think this is a strategic and easily accessible location at an altitude of approximately 238 meters above sea level It offers panoramic views where we can enjoy both sunrise and sunset,” Teguh said as reported by Antara on Wednesday providing a viable alternative to Komodo National Park during its planned closures “We are committed to preserving the park's ecosystem and of course this is one of the contributions to promote local wisdom,” he emphasized Nia Niscaya, the Tourism and Creative Economy Main Expert of the Tourism Ministry, believed Parapuar Park would contribute to Labuan Bajo's growing popularity as a tourist destination, rivaling Bali.  with Labuan Bajo's search volume approaching 2023 levels in the first seven months of 2024 Based on Global Distribution System (GDS) data Labuan Bajo recorded 4,137,720 searches in 2024 compared to 4,899,240 in the entire previous year “Labuan Bajo is indeed a complementary destination to Bali,” Nia concluded Editor's Choice: Temporary Closure Planned for Komodo National Park in 2025 10 Recommended Budget-Friendly Tourist Destinations in the United States First Balinese Hindu Temple in Netherlands Officially Inaugurated PLN Suggests Temporary Factor Behind Bali Blackout Balinese Hindu Temple to Open in the Netherlands 10 Best Places to Visit in Southeast Asia for Adventure Seekers Trip.Best 2025: Bali and Jakarta Among World's Top Destinations 7 Must-Visit Tourist Attractions in Yogyakarta Besides Prambanan and Malioboro Despite Labuan Bajo appearing to be safe and the airport operating as usual the disaster agency has indicated that the situation could remain uncertain until December 1 leaving the travel industry in a state of limbo as they face the upcoming peak season in December chairman of the East Nusa Tenggara Association of Indonesian Travel Agencies (ASITA) said: “Since the first eruption on November 3 the temporary closure of Komodo Airport has (raised) concerns among travellers – ASITA members have reported receiving many cancellations.” According to data from the Labuan Bajo Flores Authority Implementing Agency around 6,000 visitors were unable to enter Labuan Bajo due to the closure of Komodo International Airport from November 10 to 13 The closures led to cancellations at 32 hotels with occupancy rates dropping by nearly 87 per cent further declining to just 10 per cent from November 3 to 16 ASITA West Manggarai reported its members received massive cancellations and delays leading to losses exceeding US$64,000 for travel packages between November 8 and 14 expressed concern that cancellations may continue as the government has not yet downgraded the alert level to “safe,” given that volcanic activity remains at a high level “This is force majeure; no one can predict the natural disaster the authorities need to push out the message that Labuan Bajo remains unaffected and is safe for travel the government must release a statement (clarifying) that the distance between Lewotobi and Labuan Bajo is very far,” added Leonardus said the travel industry is in limbo due to the lack of certainty with partners and clients continuing to inquire about the next group departure in December or seeking to reschedule those affected by the recent closure Abed still holds high hopes that the situation will improve before December If we don’t start selling packages now But it’s also impossible to offer year-end packages without the ‘green light’ from the government,” he added has diverted his clients to other destinations we’re advising clients in Bali to avoid East Nusa Tenggara until next year we are offering alternative packages in Java or Lombok,” he shared data from the Ministry of Transportation reported that nine out of 10 airports in East Nusa Tenggara have resumed normal operations The only exception is Frans Seda Airport in Maumere which remains closed due to the impact of volcanic ash I Gusti Ngurah Rai International Airport in Bali and Lombok International Airport have also returned to normal after cancellations from November 12 to 14 which affected hundreds of domestic and international flights Seafront stays and heritage charm at Penang Marriott Hotel Is Your Business Listed On TTGmice Planner Online Muhammad Fria Fachrama Sumitro TEMPO.CO, Jakarta - If you're looking for a place to connect with nature and want something different from the usual Bali, Labuan Bajo is the perfect place for you countless travelers flock to this town for its diverse natural beauty and unique experiences Labuan Bajo is the ultimate gateway to marvel at the world's largest lizards here are some of the best things to do in Labuan Bajo that promise an unforgettable trip for all types of travelers here's a compilation of the top things to do in Labuan Bajo that guarantee unique experiences from island hopping to exploring underwater ecosystems It's not a trip to Labuan Bajo if you don't set foot in Komodo National Park the national park is one of the region's main attractions and is accessible by a two-hour motorboat ride from Labuan Bajo Komodo National Park offers the opportunity to get up close and personal with Komodo dragons You can also explore the trails or observe the mangrove ecosystem on the island Looking for some cool pictures for your Instagram feed Then a visit to the Pink Beach on Komodo Island is a must also known as Pantai Merah (which translates to "red beach") is one of only seven pink beaches in the world This coastline is named for its extraordinary feature, which is a striking pink color produced by microscopic creatures called foraminifera. The Pink Beach of Komodo Island is even regarded as one of the most beautiful beaches in the world by Outside Magazine The beach is also ideal for sunbathing and swimming Be prepared to get soaked in the crystal clear waters of this pink beach Visit Mantai Point in the area of Komodo Island (apparently there is another one near the waters of Gusung Island This dive site allows you to experience diving with manta rays and admire the vibrant coral reefs and colorful fish The best time to visit Manta Point is in the morning or afternoon when mantas are most visible island hopping is another top activity in Labuan Bajo There are several islands you can stop at while in the area but Padar Island is the quintessential one The island is famous for its panoramic views revealing rolling hills and pristine coastal waters. Given the jaw-dropping scenery Padar Island is a haven for all shutterbugs take the hiking trails that will take you to the top the views from the top are well worth the effort Labuan Bajo has more to offer than just its stunning coastline a visit to Cunca Wulang Waterfall could be a refreshing escape Located about 30 kilometers from Labuan Bajo this scenic waterfall is surrounded by lush greenery and dramatic cliffs offering views similar to those of Green Canyon Visitors can connect with nature amidst the tranquility and cool breeze This cave has an impressive geological formation of stalactites and stalagmites as well as a natural pool where tourists can swim as Rangko Cave is actually directly connected to the sea Although wild animals are unlikely to be seen in this cave visitors must be careful of the sharp rocks Located at approximately 1,100 meters above sea level this village is surrounded by picturesque mountains and lush green forests In addition to admiring the breathtaking scenery you will have the opportunity to interact with the local community who live in houses known as Mbaru Niang For those interested in visiting the Wae Rebo village you can join a tour at a cost of approximately Rp800,000 to Rp1,200,000 From exploring Komodo National Park to swimming in Rangko Cave's natural pool these are the best things to do in Labuan Bajo that promise a unique and remarkable experience Editor's Choice: Labuan Bajo's Komodo Airport Reopens After Mount Lewotobi Eruption Click here to get the latest news updates from Tempo on Google News American Deported for Causing Chaos at Bali Clinic Indonesian Minister Pushes for Direct Flights Between Bali and Moscow Russia Eye New Moscow-Bali Flight Route to Bolster Trade Ties We are streaming live now from AirAsia RedQ. Watch it here 2024 – AirAsia flights to and from Labuan Bajo have been affected since November 4 due to the eruption of Mount Lewotobi Laki-Laki in East Flores The impacted AirAsia flights include QZ 860 (Jakarta-Labuan Bajo) This decision is based on Notam No: A3548/24 NOTAMR A3547/24 and A3554/24 NOTAMR A3548/24 which guided AirAsia management to implement several flight delays and cancellations "AirAsia understands that this situation is inconvenient for all passengers this decision was made to ensure the safety and security of passengers and crew We will provide regular updates on the latest flight schedules," said Ageng Wibowo Leksono Corporate Communications Manager of Indonesia AirAsia A thorough safety evaluation is being conducted by all relevant parties as we monitor conditions at Mount Lewotobi Laki-Laki and the results of paper tests for volcanic ash Indonesia AirAsia’s management continues to collaborate with relevant authorities to prepare several scenarios to minimize the impact on flights if this situation persists in the coming days Indonesia AirAsia is committed to providing the best service for affected passengers Move Flight or reschedule within 30 days from the cancellation date without additional charges Request a Full Refund (based on the original payment method) Affected passengers can use the AirAsia MOVE app (formerly AirAsia Superapp) or Ask Bo via the link https://support.airasia.com/s/?language=in to select one of the options above Indonesia AirAsia continuously strives to uphold the highest safety standards in all operations and thanks passengers for their ongoing trust in Indonesia AirAsia ©2020 AirAsia Group Berhad. Your usage of the AirAsia website indicates that you agree to be bound by our Terms and Conditions, Terms of Use and Privacy Statement This website is owned and operated by AirAsia Berhad (284669-W) (“AirAsia”) Contact usCustomer support Terms and conditions Insurance Asia website works best with Javascript enabled Please enable your javascript and reload the page It expects Zhibao Labuan to act as a minority risk taker for selected businesses Digital insurance brokerage firm Zhibao Technology announced the establishment of Zhibao Labuan Reinsurance Company Limited The newly formed entity received a license from the Labuan Financial Services Authority on 14 April allowing it to conduct general reinsurance operations outside mainland China Zhibao aims to earn premiums and potentially generate underwriting profits.  The company expects Zhibao Labuan to act as a minority risk taker for selected businesses mainly supporting operations from Sunshine Insurance Brokers and Zhibao Health if Zhibao typically earns a 20% commission on policy sales and Zhibao Labuan assumes an equivalent portion of reinsurance risk the potential exists to double revenue on such policies whilst also gaining from investment returns on collected premiums CEO Botao Ma stated that the formation of Zhibao Labuan positions the company to access new profit avenues in Labuan Malaysia—a recognised international insurance and reinsurance hub He noted that this move enhances Zhibao’s ability to offer tailored insurance solutions especially in cases where local carriers fall short of meeting customer requirements.  TEMPO.CO, Jakarta - Bali and Labuan Bajo remain the most popular choices for foreign tourists visiting Indonesia according to data from the Golden Rama travel agency The stunning natural beauty of these three locations is the primary draw for visitors said foreign tourists continue to favor destinations in eastern Indonesia “The majority of tourists head to eastern Indonesia and Labuan Bajo,” he stated in Jakarta on Monday Eastern Indonesia has some of the world's most breathtaking dive sites, particularly Raja Ampat Tourists flock to the region to explore its vibrant underwater ecosystems and diverse marine life.  “Eastern Indonesia's tourism potential is extraordinary It's home to the world's most beautiful dive spots,” Madu said echoing a common sentiment among foreign visitors Although he did not specify the exact number of tourist visits through Golden Rama he noted that most clients originated from Asian countries the premium segment is dominated by European nations as well as Middle Eastern countries like the United Arab Emirates “We offer luxurious Raja Ampat packages priced at over US$16,000 per person for seven to ten days,” Madu added He revealed that tourist preferences vary based on their geographic origin Northern Europeans tend to visit Indonesia during their winter months “While Middle Eastern tourists prefer to visit during the summer season in their region.” Madu pinned hopes for more widespread tourism development beyond Bali, Labuan Bajo “Many people in Europe and America equate Indonesia with Bali and it takes consistent government efforts to showcase Indonesia's diverse offerings,” he remarked Editor’s Choice: Top 5 Destinations in Indonesia's Majestic Labuan Bajo and Komodo Island Click here to get the latest news updates from Tempo on Google News When Is the Best Time to Explore Raja Ampat Thailand Mandates Digital Arrival Card for Foreign Travelers Starting May 1 Aims to Attract 1.7 Million Foreign Tourists in 2025 LABUAN: Labuan Financial Services Authority (Labuan FSA) has announced the appointment of Bank Negara chief services officer Affendi Rashdi as its director-general for a two-year term from May 1 The appointment was made by the of Finance Ministry Affendi brings over two decades of experience in financial sector development he held senior roles including director of the finance department and was part of the Financial Sector Blueprint team He also contributed to the corporatisation of Bank Pertanian Malaysia Bhd establishment of Small Medium Enterprise Development Bank Malaysia Bhd and review of the Development Financial Institutions Act 2012 The board thanked outgoing director general Nik Mohamed Din Nik Musa for his contributions to the Labuan International Business and Financial Centre’s growth “With the appointment of Affendi Rashdi as the new director-general Labuan FSA is confident the centre will continue to innovate and grow building on its success and further strengthening its position as a preferred financial centre in Asia,” it said We would love to keep you posted on the latest promotion Tuesday | May 06 2025 | Dusit International has signed a hotel management agreement with PT Komodo Property Management to operate Kaliwatu Residences- Dusit Collection This marks Dusit’s first Dusit Collection hotel in Indonesia further expanding its presence in the region Located just 10 minutes from Komodo International Airport the property offers a private hillside escape with panoramic sea views famous for its Komodo dragons and world-class diving The development will be completed in phases It will feature 63 private villas with plunge pools “The signing of Kaliwatu Residences – Dusit Collection marks a significant milestone in Dusit’s expansion strategy strengthening our presence in Southeast Asia’s thriving luxury hospitality market,” said Gilles Cretallaz “Labuan Bajo is an extraordinary destination with immense potential and we are delighted to introduce our signature Thai-inspired gracious hospitality to this stunning location This project embodies everything Dusit stands for and a commitment to creating value for the wider community We look forward to delivering an exceptional experience for our guests.” Designed under the Dusit Collection luxury brand the property blends contemporary European-inspired architecture with its natural surroundings ensuring a seamless and immersive guest experience Guests will also have access to Labuan Bajo’s rich cultural and natural attractions “As Labuan Bajo cements its position as a premier global destination this project is perfectly timed to set new standards in sustainable luxury hospitality Our vision for Kaliwatu Residences – Dusit Collection is to create a sanctuary that harmonises with nature while delivering world-class amenities With Dusit’s expertise and commitment to excellence we are confident this collaboration will redefine the region’s hospitality landscape The development and construction of the project are fully supported by local authorities and are being carried out in collaboration with the local community further enhancing its positive impact on the local economy.”  vivek.mittal@businessworld.in, amit.bhasin@businessworld.in Subscribe to our newsletter to get updates on our latest news All about the airport that's won the world over By Joshua Ng Jetstar Asia will be launching new direct flights between Singapore Changi Airport and Labuan Bajo in Indonesia It will be the first time Changi Airport is directly connected to Labuan Bajo The new service will operate twice a week from Changi Airport Terminal 4 to Komodo International Airport connecting travellers directly to the gateway of the Komodo National Park travellers who want to travel from Singapore to the world-renowned Komodo Island must first fly to Ngurah Rai International Airport in Bali (which takes around 2 hours 45 minutes) followed by a 1.5-hour domestic flight to Labuan Bajo there are boat tours that will bring visitors to Komodo National Park This means you’ve already clocked in over four hours of flight time – five hours if you include your layover and connections With Jetstar Asia’s new direct flights between Changi Airport and Labuan Bajo, flying time will be shortened to three hours giving you extra time to enjoy the top things to do in one of Indonesia’s most stunning hidden gems Various volcanic and large islands make up Komodo National Park near Labuan Bajo in Indonesia You will find Komodo dragons that are native to the region on the islands the vast Komodo National Park is made up of three major islands – Rinca Padar and Komodo – and encompasses 29 volcanic islands the Komodo dragon (the world's largest lizard that is endemic to the region) travellers are advised to maintain a safe distance and exercise caution One of the most popular hiking routes in Komodo National Park is on Padar Island The comfortable two- to three-hour scenic hike offers breathtaking views of the surrounding landscape The clear waters surrounding the islands of Komodo National Park make it an ideal diving destination rosy sands of Pink Beach that contrast with the cystal-clear waters is a unique and breathtaking sight The degradation of red coral and its mixture with white sand creates the beach's distinctive pink glow This natural wonder is a must-see for any visitor to Komodo National Park Jetstar Asia's direct flights between Singapore Changi Airport and Labuan Bajo will operate twice weekly from 20 March 2025 on every Thursday and Sunday the flight arrives in Labuan Bajo at 5:20pm The return flight takes off from Labuan Bajo at 6pm With the new flights, Changi Airport will be connected to 13 destinations in Indonesia, including popular routes such as Singapore-Jakarta and Singapore-Bali, as well as lesser-known destinations such as Balikpapan, Surabaya {{ article.title }} You have reached the limit of 5 saved articles you will need to remove others on My Articles By using this site, you agree to our Privacy Policy, Conditions of Access and to the placement of cookies on your computer. KUALA LUMPUR: Labuan International Business and Financial Centre (Labuan IBFC) is banking on its Islamic digital asset ecosystem, captive insurance market and a planned climate credit exchange to carve out a “niche” and remain globally competitive, even as it braces for slower leasing and trading activities in 2025 due to global uncertainties. The special economic zone, which operates under the purview of the Labuan Financial Services Authority (Labuan FSA), added 168 new companies in the first quarter of this year – representing 25.7% of its full-year target of 653 to 654 entities. This builds on the 9% growth recorded in 2024 when 627 companies were incorporated, up from 575 the previous year. “This sets a positive tone for the months ahead,” said Labuan FSA director-general Nik Mohamed Din Nik Musa during the launch of the “Labuan IBFC Market Report 2024” yesterday. New incorporations in 2024 were primarily from the Asia-Pacific region (60%), followed by the Far East (21%), Europe (10%), the Americas (7%) and the Middle East and Africa (2%). As at end-2024, Labuan IBFC hosted 4,785 companies – with 65% from the Asia-Pacific region. However, Nik Mohamed Din cautioned that leasing and international trading activities are expected to soften in 2025, particularly those linked to oil and gas (O&G). “We anticipate a slight moderation in the leasing, particularly because one will be the leasing of ships carrying O&G,” he said. “Given that the price of O&G now is not as high as before, we foresee that trading for the demand of O&G will also moderate.” He added that the Labuan International Trading Company segment, where 99% of activity involves oil and liquefied natural gas or LNG, will likely face a slowdown amid continued price volatility. Leasing activities remained flat in 2024, with total leased assets amounting to US$36.8bil compared to US$36.6bil in 2023. Aviation leasing accounted for the largest share at US$22.8bil or 62.1% of the total. Revenue from leasing jumped 69.3% year-on-year to US$1.6bil, while pre-tax profit surged 152.3% to US$654.6mil. Eight new leasing companies were licensed, bringing the total to 195. Meanwhile, the Labuan banking sector continued to show resilience, backed by net interest income gains from high interest rates, though overall profitability fell by 27.3% due to a sharp rise in loan impairments. The total loan portfolio declined 9% to US$19bil, while deposits fell 27.4% to US$4.9bil due to reduced resident deposits. The banking sector’s assets contracted slightly to US$47.7bil, though investments rose 78.6% to US$9.4bil as banks shifted towards bonds and securities. Nik Mohamed Din said four new banking licences were issued in 2024, bringing the total to 72. “Labuan banks demonstrated resilience and maintained stable net interest income,” he noted. Islamic banking remained steady with assets above US$1.6bil, even as financing dipped 8.3%. Nik Mohamed Din highlighted the Islamic Digital Asset Centre, launched in 2022, as a key driver of Labuan’s competitive edge. “We want to help Labuan create a complete ecosystem for the Islamic digital asset market,” he said. He added that Labuan is developing a risk-sharing, profit-sharing environment within the Islamic capital market to support tokenised instruments aligned with syariah principles. “We feel it is the way to distinguish Labuan from other countries – by creating a niche with Islamic tokens.” Additionally, on the environmental, social and governance front, he said a new climate credit exchange is also in the pipeline. “Next week, there will be the issuance of a common credit circular,” he said. Meanwhile, Nik Mohamed Din said Labuan is positioning itself as one of Asia’s most important captive insurance hubs, with over 70 entities already established in the jurisdiction. He added that Labuan FSA is actively reviewing and updating regulatory frameworks to make its captive insurance offering more innovative and attractive to multinational companies seeking risk management solutions. “So, the team is always looking at how we want to enhance the regulation, modernise it even further to make the structure more innovative, more attractive to companies around the world wanting to sell captive,” he said. Labuan’s captive insurance segment continued to expand, with licensed entities rising 16.4% to 71 in 2024, supported by regulatory enhancements and demand for alternative risk solutions. Nik Mohamed Din noted that growth was driven by demand from the Asia-Pacific region, with captives offering greater cost efficiency, flexibility and control over underwriting and claims. In 2024, Labuan IBFC posted a total pre-tax profit of US$2.56bil – a 35.8% drop from US$3.99bil the previous year, which itself was 34.1% lower than in 2022. Despite the profit slump, total assets grew 7.5% to US$89.57bil from US$83.34bil in 2023. Return on assets declined to 2.9%, down from 4.8% in 2023 and 7.4% in 2022. Employment within Labuan IBFC rose for the third consecutive year to 5,006 in 2024, compared to 4,825 in 2023 and 4,224 in 2022. We would love to keep you posted on the latest promotion. Kindly fill the form below BURSASGXHomeBy KUALA LUMPUR (April 30): Labuan International Business and Financial Centre (Labuan IBFC) is preparing to announce a "carbon credit circular" to be issued next week in preparation for the establishment of a digital carbon credit exchange The circular will provide regulatory clarity to market participants interested in setting up or participating in carbon credit transactions said Labuan Financial Services Authority (Labuan FSA) director general Nik Mohamed Din Nik Musa “We’re looking to set up a carbon credit guidance exchange where we want players to apply for a licence from us,” Nik Mohamed Din said during a press conference after the launch of the Labuan International Business and Financial Centre 2024 Market Report The establishment of a digital carbon credit exchange is part of the Labuan IBFC Sustainability Taxonomy (LiST) which aims to encourage green financial instruments and align the centre with Malaysia’s broader climate commitments “Those interested in setting up a carbon credit exchange would have more clarity and certainty on how they can structure and operate their businesses using Labuan’s ecosystem,” he said The remark came as Malaysia sees growing emphasis on sustainable finance and environmental accountability.  Bursa Malaysia launched the Voluntary Carbon Market (VCM) via its Bursa Carbon Exchange (BCX) allowing businesses to offset emissions by purchasing carbon credits.  Nik Mohamed Din added that Labuan IBFC’s move to establish its own digital carbon credit exchange complements the domestic agenda by offering cross-border and digital capabilities through a regulated offshore platform potentially attracting global players seeking a flexible yet credible market infrastructure for carbon trading Digital financial services is one of Labuan IBFC's pillars in its five-year roadmap initiatives from 2022 to 2026 to position itself as a niche financial centre aside from its strong presence in Islamic finance and captive insurance has achieved 76.5% of the five-year roadmap as at end-2024 based on a mid-term review conducted by an independent consultant “We want to distinguish ourselves from other centres globally That includes strengthening our Islamic digital asset ecosystem through initiatives like the Islamic Digital Asset Centre,” said Nik Mohamed Din Should Labuan IBFC fall short of achieving 100% of its roadmap targets by 2026 Labuan FSA would issue a "transparent report card" to disclose accomplishments challenges and planned adjustments for its next phase of development “We are already moving ahead with our post-2026 strategy The team has begun planning the next roadmap in consultation with industry stakeholders,” he said BURSASGXHomeEconomic FocusBy KUALA LUMPUR (April 30): Special economic zone Labuan International Business and Financial Centre (IBFC) expects a slowdown in leasing and international trading in 2025 due to rising global economic uncertainty and falling oil and gas prices At the Labuan IBFC Market Report 2024 launch on Wednesday Labuan Financial Services Authority (FSA) director general Nik Mohamed Din Nik Musa said demand for oil and gas shipping and asset use may decline which will affect both trading and leasing He said since leasing is closely tied to oil prices a drop in prices could reduce demand.  Nik Mohamed Din also noted that the Labuan International Trading Company (LITC) segment — where 99% of trade is oil and gas-related — may see fewer transactions due to the same pressures These two sectors are expected to be the most affected by current global trade tensions and energy price fluctuations Nik Mohamed Din said despite a possible short-term slowdown in oil-related sectors Labuan IBFC remains confident in long-term growth focusing on areas like digital assets and captive insurance Labuan IBFC’s leasing sector had a strong year in 2024 with aviation making up US$22.8 billion (62.1%).  Leasing revenue rose 69.3% to US$1.6 billion and profit before tax jumped 152.3% to US$654.6 million Most revenue (87%) came from the Asia-Pacific region LABUAN: Labuan Financial Services Authority (Labuan FSA) has announced the appointment of Bank Negara Malaysia (BNM) chief services officer Affendi Rashdi as its Director General for a two-year term from May 1 The appointment was made by the Ministry of Finance (MOF) Labuan FSA said in a statement on Thursday He also contributed to the corporatisation of Bank Pertanian Malaysia Bhd (Agrobank) Labuan FSA said Affendi holds degrees from Harvard University and Universiti Teknologi MARA and is a member of several professional accounting bodies for his contributions to the Labuan IBFC’s growth "With the appointment of Affendi Rashdi as the new Director-General building on its success and further strengthening its position as a preferred financial centre in Asia," it said We use cookies to analyze user behavior in order to constantly improve the website for you. Learn more (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company") a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities in China today announced the establishment of Zhibao Labuan Reinsurance Company Limited ("Zhibao Labuan") The Zhibao Labuan received its license to seek to undertake general reinsurance operations beyond mainland China from the Labuan Financial Services Authority ("LFSA") on April 14 Zhibao Labuan's Role in Zhibao's Growth Strategy Zhibao's revenue is primarily derived from brokerage and MGU fees earned from its insurance partners We believe the incorporation of Zhibao Labuan enables the Company to tap into potentially an additional revenue stream through reinsurance premiums and the potential for underwriting profits based on the performance of the reinsured policies we believe Zhibao Labuan may generate income from reinsurance premiums in line with standards established by local regulators if the Company typically earns a 20% commission on the sale of a policy and Zhibao Labuan accepts a corresponding 20% reinsurance risk from the Chinese insurance carrier the Company would have the potential to realize an additional 20% revenue from that policy—effectively doubling its revenue—with further potential for underwriting profits and proceeds from the investment of premiums we believe Zhibao Labuan can open up a new revenue frontier for Zhibao The target is for Zhibao Labuan to eventually participate in about a small portion of the total insurance premium generated by Sunshine Insurance Brokers and Zhibao Health While the formation of Zhibao Labuan adds depth and vibrancy to the Company's offerings and enhances support for customers Zhibao will remain primarily an insurance brokerage company with Zhibao Labuan serving mainly as a minority risk taker for targeted business "I am pleased to announce the establishment of Zhibao Labuan which provides us with the opportunity to earn additional revenue and profits through reinsurance premiums and potential underwriting deals I believe Zhibao Labuan opens up a new frontier for revenue that presents unique opportunities to Zhibao I am excited about seeking to gaining access to the thriving insurance market in Labuan internationally regarded hub for insurance and reinsurance providers I believe we position ourselves as an innovator in an industry where it is traditionally uncommon for a brokerage company to establish a risk-carrying entity which are intimately familiar with their customers' needs and the underwriting terms of the policies will participate in selecting the business for inclusion in Zhibao Labuan This initiative not only provides a vote of confidence in the quality of our business but also aligns our interests with those of our insurance and reinsurance partners In cases where local insurance carriers are unable to meet the customization needs of our customers Zhibao Labuan can leverage our accumulated data and deep market knowledge to lead on pricing and product development ensuring that we deliver the highest quality and most appropriate products to our customers this new endeavor enhances our ongoing strategy to diversify our revenue streams and generate profitable market investments that we believe will drive shareholder value," said Zhibao's Chief Executive Officer Zhibao Labuan will be headed by Guangtong (Arthur) Ren as Principal Officer who also serves as Zhibao's Executive Director & Chief Actuary Arthur Ren is a senior executive with nearly 30 years of experience in insurance During his nearly 30-year tenure at AIG China he served in various senior roles including CFO and Regional Chief Actuary for AIG Greater China Ren was a management consultant with the Boston Consulting Group and served as Deputy General Manager overseeing life and health insurance product development at China Ping An Insurance He holds an MBA from London Business School and an MSc in Finance from Nankai University in Tianjin (NASDAQ: ZBAO) is a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities ("Zhibao China Group") in China 2B2C ("to-business-to-customer") digital embedded insurance is the Company's innovative business model which Zhibao China Group pioneered in China Zhibao China Group launched the first digital insurance brokerage platform in China in 2020 which is powered by their proprietary PaaS ("Platform as a Service") Zhibao Technology Inc.Investor Relations OfficeEmail: ir@zhibao-tech.com Skyline Corporate Communications Group, LLCScott Powell, PresidentAvenues Tower1177 Avenue of the Americas, 5th floorNew York, NY 10036Office: (646) 893-5835Email: info@skylineccg.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249337 SOURCE: Zhibao Technology Inc. Sign Up Company Profile Banking/Financial Services Look out for your first newsletter in your inbox soon The best of Singapore straight to your inbox We help you navigate a myriad of possibilities Sign up for our newsletter for the best of the city By entering your email address you agree to our Terms of Use and Privacy Policy and consent to receive emails from Time Out about news Sign up for our email to enjoy Singapore without spending a thing (as well as some options when you’re feeling flush) By entering your email address you agree to our Terms of Use and Privacy Policy and consent to receive emails from Time Out about news, events, offers and partner promotions. Singapore a nature paradise in IndonesiaExplore caves and island hop at this up-and-coming travel destination travellers from the Lion City would have to do a stopover in other cities like Jakarta or Denpasar before taking a domestic flight to Labuan Bajo averaging one and a half hours – resulting in a total travel duration of around six and a half hours you can now get straight to Labuan Bajo in slightly over three hours it’s surrounded by the bluest waters and has plenty of hilly terrain for you to explore through a good hike and its peak is where you can witness some of the most beautiful sunsets delve into the depths of Batu Cermin – also known as the Mirror Stone Cave for its sparkling limestone walls – and Rangko Cave which has a natural turquoise pool you can swim in There are also waterfalls to cool down at when the weather gets hot much quieter than Bali’s party districts that’s not to say that it’s completely devoid of nightlife A handful of beach clubs and bars keep things lively past sundown after you’re done with the day’s adventures Labuan Bajo also serves as a gateway to the beautiful Komodo Island where you can embark on coral reef diving expeditions and admire the famous rose-hued Pink Beach it’s also the namesake of the Komodo dragon so expect to spot the giant lizard ambling around as you’re out and about With four public holiday long weekends to look forward to this year a quick getaway to Labuan Bajo would certainly be a great idea if you’re looking to explore beyond the usual neighbouring destinations that most Singaporeans tend to flock to The new direct flights between Changi Airport Terminal 4 and Komodo International Airport will run twice a week each way Departing flights are scheduled for Thursdays and Sundays at 2.10pm Returning flights are also on Thursdays and Sundays leaving from Labuan Bajo at 6pm and landing back in Singapore at 9.10pm We did a quick check and saw round-trips priced for as low as $144, inclusive of taxes (without check-in baggage added). 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Look out for your first newsletter in your inbox soon! tiktokfacebooktwitteryoutubeAbout us Contact us BURSASGXHomeHighlightBy KUALA LUMPUR (April 30): The Labuan International Business and Financial Centre (Labuan IBFC) could see growth in new company incorporations in 2025 moderate to its lowest in four years based on first quarter performance published by the Labuan Financial Services Authority (Labuan FSA).  accounting for 25.7% of the full-year target Labuan FSA director general Nik Mohamed Din Nik Musa said This means Labuan IBFC is projecting a year-on-year increase of 4% to 654 entities incorporated this year slower than the growth recorded in the three years 2022 (16%) we have the players,” Nik Din said at the launch of the Labuan IBFC Market Report 2024 on Wednesday “It’s about how we execute to achieve that target.” The expected slowdown comes on the heels of growing uncertainties towards global economic outlook which weighed on investment sentiment and dragged commodities like oil prices Labuan IBFC has enjoyed the post-pandemic boom with strong growth in core sectors in recent years Total revenue jumped 69.3% to US$1.6 billion Labuan IBFC — governed by Labuan FSA under the purview of the Ministry of Finance — offers a wide array of structures supporting banking the financial centre saw significant gains across several key segments.  The captive insurance sector recorded an 8.5% top line growth reaching a five-year volume high of US$677.4 million driven by a 16% increase in newly licensed captives and a 24% rise in new cells largely attributed to demand for workmen’s compensation and professional indemnity coverage A captive insurance company is a wholly owned subsidiary insurer formed to provide risk mitigation services for its parent company the Islamic finance vertical saw a 21-fold increase in the market value of shariah-compliant security tokens (RAMZ) to US$1.05 billion.  This was underpinned by growing adoption of artificial intelligence (AI) and blockchain and heightened interest in digital fundraising instruments Listings of RAMZs were primarily driven by five issuers including the International Islamic Liquidity Management Corp for its short-term sukuk; tokenisation of shares belonging to a tech company backed by intellectual property of electric vehicle battery as well as tokenisation backed by Chinese ceramic oil-and-gas asset leases doubled in size to US$815.9 million Total new assets leased amounted to US$3.14 billion with aviation activity making up over 60% of total leased assets.  The fund management segment saw profits more than triple while revenue from securities licensees rose nearly threefold to US$9.6 million Wealth management gained further traction with a 24% increase in the number of foundations to 237 reflecting stronger demand from high-net-worth individuals for estate planning and asset protection Trust and corporate services also posted triple-digit growth in newly registered Labuan trust companies Sector revenue grew nearly 30% to US$40.8 million