MIDA expects more MNCs to populate TRX
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
“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
As to date, MIDA has
approved 26 Principal Hub companies from different industries such as
electrical & electronics, food & beverage, oil & gas and consumer
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
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
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.
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.