About Us

Company Name: Bona Trust Corporation 博纳信托有限公司

Date of Incorporation: October 17, 2018

Paid Up Capital: USD65,000

Business Nature: Trust and Corporate Service

License Number: LMT0080

Representative: Yudai Watanabe

Labuan Registered Address: Kensington Gardens, No. U1317, Lot 7616, Jalan Jumidar Buyong, 87000 Federal Territory of Labuan, Malaysia

TEL:+6087 599 800

Labuan Operational Office: Unit 3D(3), Level 3, Main Office Tower, Financial Park Labuan, Jalan Merdeka, 87000 Federal Territory of Labuan, Malaysia

TEL:+6087 452 001

BTC Labuan Office

Kuala Lumpur Marketing Office: Lot 226, 2nd Floor, Faber Tower, Jalan Desa Bahagia, Taman Desa, 58100 Kuala Lumpur, Malaysia

TEL:+6037 971 0073

Bona Trust KL Marketing Office

We provide company secretarial services through IT solutions.

The combination of human and human, human and things, and things and things, the so-called ‘big data’, will bring about the so-called ‘information society’, where computers truly accompany human and the environment, rather than the environment where human consciously use computers.

We will endeavour to respond flexibly and quickly to the changing times and to provide the best secretarial services for the occasion.

“Old and good things are always New”. We will continue to innovate while respecting tradition.



About Bona Trust Corporation

1. Preface

With the rapid spread of IT infrastructure, most of the external environment surrounded a company were freed from physical limitation, and resources such as “Manpower”, “Goods”, “Capital”, and “Information” went over the border and the times to come these days.

As the result, the company came to be put in the environment of the different dimension as we could not compare it before across the conventional framework.

Even if the internal environment of the company does not change with a sudden change of such an external environment, the external environment surrounding the company continues changing by rapid force day by day.

But the essence itself “the company must make profit” and “must continue developing growth” turns into nothing conventionally.

In the times when external environment greatly changes, the company catches the descent from change appropriately and copes flexibly, and we think this is very important theme above all that growth continues developing.

Seeing from a macro viewpoint, in the global society where we live in, multinational companies and the monetary economy have already turned off a borderline from a world map, and the difference of the world economy begins to converge little by little towards equilibrium point.

According to “law of one price”, -a concept in economics-, if quality and quantity is the same the price of a certain product, the price should converge before long towards equilibrium point.

Law of one price

However the distortion of the price produces a price index or personnel expenses everywhere if we look at the whole world and can notice there are opportunities of much arbitrage still exists.

In this era, the role of offshore finance to reduce the imbalance of all economies to zero base is becoming increasingly important, and we focus on such price imbalance, we would like to promote active use.

From now on, not only large companies but also Small and Medium Enterprises (SMEs) and individual businesses are aggressively aiming for overseas.

But, the first step in expanding overseas is that even Large companies with abundant financial capabilities are forced to struggle, SMEs and individual businesses still have a large cost to high-risk initiatives, there is no fact also.

That is why the first step must be realised at a low cost, and even in case of failure, it is necessary to have an environment where we can withdraw quickly without expanding the wound.

We will provide our clients with opportunities for offshore financial services and we will endeavor to drastically reduce operating costs and administrative tasks.

Kindly consider utilising our service as a means to realise your dreams.

2. About Bona Trust Corporation

◇ About Bona Trust Corporation

Bona Trust Corporation (formerly known as “Ltopia Inc.”) was incorporated in the Federal Territory of Labuan, Malaysia, on October 17, 2018, has a registration number of LL15218 and trust number of LMT0080.

We are responsible for the role and responsibility as a Labuan Trust Company, we are engaged in support for Labuan company and Foundation incorporation, management consulting, business succession support etc.

Our company name “Bona” named came from “bona fide“, means honesty (‘with good faith’). We sincerely hope to face our clients at all times and would like to work together to solve the problem.

◇ About Corporate Logo mark

There are 3 people drawn in our logo mark, and each person at each end supports the central person. Also, although each person is drawn in a different colour, it is facing the same direction.

A company always cannot consist of just 1 person same as society. The business is the same as our life, there are many things that go wrong times, not only good times. People with individual personality are made by trusting each other, respecting each other, and supporting each other. Different colour means our “personality”.

The logo mark symbolises mutual assistance exists as our philosophy and cooperates together and proceeds in the same direction at all times.

3. Our Mission

We aim to “Connecting Manpower, Goods, Capital, Information, and making Labuan the main hub function of ASEAN business”.

Labuan Tiara Hotel

4. Nature of Business

Our business consists of the following 2 services:-

◇ Establishment and management service of Labuan entity
◇ Management consulting, business succession support, etc.

The essence of our service is to minimize costs and maximise profits and to optimize business portfolio for our value clients.

5. Business Model

Our business model is divided into 2 revenue models, one is spot-type revenue, and the other is flow-type revenue.

◇ Spot-type revenue model

One is a spot-type revenue model. The attribute of this revenue is temporary revenue, and stability is lacking, but relatively larger profit is expected. We have proven track record of supporting the establishment of a lot of business entities so far and we believe we can expect even greater profits through acquiring new clients in the near future.

◇ Flow-type revenue model

The other is a flow type revenue model. The attributes of this revenue are stable as continuing flow revenue, but we can not expect large profit. However, we believe that stable earnings can be expected by management agreement with excellent clients.


Spot-type revenue model Flow-type revenue model
Stability Unstable Stable
Profitability Large Small

We believe by combining the above revenue models in a balanced manner, stable and conservative growth can be realised.

6. Target Market

Our target markets are mainly focus on Japanese affluent people and companies living in outside Japan (Oversea Japanese). And based on the know-how as far, we have built up and the business foundation, we will intend to advance into English-spoken countries and Chinese-spoken countries, then eventually we have a plan to expand our clients base to the overseas Chinese living mainly in ASEAN region.

target* The definition of Chinese-speaking and Japanese-speaking market includes clients residing in the mainland and outside the territory (eg, Oversea Chinese and Oversea Japanese).Although we use English in our company’s common language, we are planning to prepare system that can support 3 languages, “English”, “Japanese” and “Chinese” in the near future.


By introducing the above services, we are confident that our 3-dimensional service from “Point” to “Surface” and “Surface” to “cube” is completed and the business foundation will be more robust.

7. Toward diversification of hub function and creation of new employment in Labuan

The Labuan economy traditionally benefited from the oil and gas industry and has achieved remarkable growth over the quarter century, but after that it will suffer catastrophic damage from the period of 2014 to 2015 due to the stagnation of oil and gas prices.

Labuan Offshore

In addition, in February 2017, more than 10,000 residents (10% of  the population) were driven to unemployment and the majority of those engaged in these industries were from Labuan Island. As a result, the real economy is falling into a chronic recession, such as the closing of restaurants or hotels. According to official data, Labuan’s unemployment rate is 7.8% in 2016, more than twice the national average of Malaysia.

Considering such a situation above, the Blue Printing Initiative announced by the government aiming to integrate low tax rate Labuan into the economies of Sabah and Sarawak states for banks, insurance, finance and other industries and seems like to create employment in Labuan offshore relation about 10% of the population of this island.


According to the Labuan blueprint 2030, concrete numerical targets from 2015 to 2030 are included, the population of Labuan islands from about 94,600 now to about 150,000 (3.1% annual increase), the working population from about 39,500 to 70,500 (3.9% increase), the government is planning to increase the gross domestic product (GDP) per Labuan worker from 54,112 RM to 94,127 RM (3.8% increase).


year 2015 year 2020 year 2025 year 2030
Population in the island (people) 94,600 106,000 139,000 150,000
Working population (people) 39,500 45,000 63,940 70,500
GDP per capita (RM) 54,112 64,623 70,755 94,127
Labuan’s numerical targets from 2015 to 2030

* Created based on government released data

What we feel daily working on Labuan island and feeling contradictory is that at the offshore financial centre like Labuan, a huge amount of money is being transferred only in the electronic space of an offshore bank account, it is a reality that there are few opportunities for local people living in the island to benefit from it.

The reason why is Labuan’s role in the financial economy is only the passing point of electronic data travels on the account books, electronic data (water) passing through the LAN cable (hose) moistens on the island because it does not bring about.Offshore financial centres like Labuan are the intersection of the real economy and the financial economy, but ironically, it is a 3-dimensional intersection that never intersects…

This strange phenomenon is also a structural contradiction of all offshore financial centres.Despite the fact that there are so many talented people on this island, we feel there is still no environment for fully utilising these resources. We believe not only providing offshore related services but also thinking about solutions to the above problems for a long-term perspective and realising it.

8. Toward the thoughts on Labuan and realising “the Ltopia Concept”

What can we leave at the end of our life? It is only “good faith” and “memories” to the people left behind.Love itself has no own shape and images, therefore it is always very difficult concept to express it.However, we believe we human beings always find hope there, and tell our thoughts to the next generation.

Our feelings towards Labuan are in correctly transforming this island into an ideal society.The name of “Ltopia Inc.”, our former company name, is based on the strong hope to make Labuan for utopia (Labuan + Utopia), and we, – Bona Trust Corporation -, have taken over this will until today.Our ultimate goal is to return some of the proceeds from offshore services to Labuan through the charitable foundation’s operation. We believe this is our mission and also obligation at the same time.


Our Philanthropy on Labuan Island
1.   The prevention and relief of poverty
2.  The advancement of profession or education
3.  The advancement of health including the prevention and relief of sickness, disease or of human suffering
4.  Social and community advancement including the care, support and protection of the aged, people with a disability, children and young people
5.   The advancement of culture, arts and heritage
6.  The advancement of amateur sport, which promote health by involving physical or mental exertion
7.  The promotion of human rights, conflict resolution and reconciliation
8.  The advancement of environmental protection and improvement
9.   The advancement of animal welfare
10. The advancement of facilities for recreation or other leisure-time occupation in the interest of social welfare

In order to achieve the above objectives, we will continue to engage in trust business activities on Labuan Island.I would like to express my sincere gratitude to all of our value clients, management staff, and affiliates who always support our business.

On behalf of Bona Trust team, I appreciate your understanding our philosophy and hopefully continue to use our services, thank you.

Best Regards,
Yudai Watanabe
Founder and Managing Director
Bona Trust Corporation 博纳信托有限公司