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The Federal Territory of Labuan, which derives its name from the Malay word ‘labuhan’ meaning anchorage; is best known as an offshore financial center as well as a popular tourist destination for the neighboring Bruneians and wreck diving aficionados, thanks to the four identified shipwrecks near its shores. Formerly known as Victoria, Bandar Labuan is a major town and port which faces the Brunei Bay. Despite being a small island, Labuan also offers two prestigious golf courses, namely the Labuan International Golf Club and the Labuan Golf Club.