ALTC was established on the 8th July 1994 under the Societies Act, 1996. It comprises of Labuan Trust Companies established and registered under the Labuan Financial Services and Securities Act, 2010 and the objects of ALTC include the power to do the following activities namely:

• to promote the Federal Territory of Labuan as an International Business Financial Centre (IBFC);
• to deal with issues of common concern to members;
• to disseminate information of common interest to members;

• to communicate and/or liaise with relevant authorities and bodies on all matters affecting of members;
• to raise funds by means of subscription or otherwise from members for all the purposes and objects of ALTC in such amounts and in such manner as is provided for in the constitution of ALTC;
• to generally promote and protect the mutual interest of members and to do all such other lawful acts as are incidental and conducive to the attainment of the above object or any of them.

Currently ALTC has 48 members and 17 associate member and together they strive to develop and promote Labuan to be a successful mid-shore jurisdiction.