MIDA Expects Many More MNCs to Populate TRX

KL’s international financial district presents significant opportunities to international business community

Kuala Lumpur, 6 September 2017- MIDA, in collaboration with TRX City today hosted prominent foreign chambers of commerce on a visit to TRX, KL’s international financial district. The private event was attended by delegates from various chambers of commerce representing six of Malaysia’s prominent trading partners; India, New Zealand, France, Japan, Australia and South Korea. This visit is part of MIDA’s initiative to highlight investment opportunities in high-impact projects like TRX to the international business community.

Dato’ Azman Mahmud, CEO of MIDA said, “MIDA sees TRX as a long-term profitable location for businesses to expand due to its excellent accessibility and connectivity to the vibrant ecosystem available in the existing city centre and the rest of Greater Kuala Lumpur. It offers exciting prospects for companies seeking to centralise their key functions in one location and streamline their global support services to enhance efficiency and productivity. By locating here, companies can be closer to an established supply chain and matured workforce. Given the strategic value propositions, MIDA expects many more multinational companies (MNCs) and local conglomerates to seize these budding opportunities and increase their competitiveness by setting up their operations in TRX.”

As the country’s investment promotion agency, MIDA has long played an active role in promoting the establishment of regional operations in Malaysia. Recognising the rising trend of offshoring activities, the Principal Hub scheme was introduced in 2015 as part of MIDA's initiative to make Malaysia a regional and global hub. As to date, MIDA has approved 26 Principal Hub companies from different industries such as electrical & electronics, food & beverage, oil & gas and consumer products. These approved projects will significantly impact Malaysia's economy over the next 10 years by creating over 1,800 high value jobs and incurring RM16.8 billion in business spending.

Dato’ Azmar Talib, CEO of TRX City said, “We are excited to show representatives from foreign chambers of commerce a glimpse of KL’s future that we are currently building. TRX will be KL’s best international business address and the city’s new central business district, backed by resilient infrastructure, sustainable features and liveable public spaces.”

A 70-acre development, TRX aims to strengthen Kuala Lumpur’s position as a leading centre for international finance and business by creating a seamless and central business environment for financial services firms, MNCs and supporting ancillary businesses.

To date, TRX has signed global property and infrastructure group Lendlease to jointly develop the Lifestyle Quarter; HSBC Malaysia, Prudential and Affin Bank Berhad for office towers; Indonesia’s leading property developer Mulia International to develop the Signature Tower plot; Lembaga Tabung Haji and WCT Bhd for residential plots, and global leader in water management Veolia Water Technologies as the water treatment and recycling concessionaire.

Awarded with Malaysia’s first provisional neighbourhood-level GBI Township Platinum certification, TRX’s masterplan combines sustainability, attractive public domains and great connectivity to create a world-class international financial district.

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About MIDA

The Malaysian Investment Development Authority (MIDA) is the government's principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 23 overseas offices. This year as the organisation celebrates its 50th anniversary, MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter (@OfficialMIDA) and Facebook (/OfficialMIDA).

About TRX

Tun Razak Exchange (“TRX”), Malaysia’s dedicated international financial district, is a strategic enabler supporting the Government’s Economic Transformation Programme (ETP) and a catalyst for urban regeneration in Kuala Lumpur. TRX will further develop the city’s role as a financial capital by creating a seamless business environment for financial services firms, multinational companies and supporting ancillary businesses. TRX will encompass investment grade A office space, world-class residential, hospitality, retail, and cultural offerings. Its master developer, TRX City Sdn Bhd, is wholly owned by the Ministry of Finance Malaysia. For more information, please go to www.trx.my 

Posted on : 06 September 2017
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Last Updated : Tuesday 11th December 2018