MIDA expects more MNCs to populate TRX - MIDA | Malaysian Investment Development Authority
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MIDA expects more MNCs to populate TRX

MIDA expects more MNCs to populate TRX

06 Sep 2017

Malaysian Investment Development Authority (MIDA) expects more multinational companies to populate Tun Razak Exchange (TRX), KL’s international financial district.

Today MIDA in collaboration with TRX City hosted foreign chambers of commerce on a visit to TRX. 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.

MIDA chief executive officer Datuk Azman Mahmud said it 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, we expect many more multinational companies (MNCs) and local conglomerates to seize these budding opportunities and increase their competitiveness by setting up their operations in TRX,” he said.

As to date, MIDA has approved 26 Principal Hub companies from different industries such as electrical & electronics, food & beverage, oil & gas and consumer products.

MIDA said 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.

TRX City chief executive officer Datuk Azmar Talib said 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.

Source: NST