Thriving global hub for finance - MIDA | Malaysian Investment Development Authority
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Thriving global hub for finance

Thriving global hub for finance

11 Dec 2023

AT the epicentre of Kuala Lumpur (KL), the 28.3ha Tun Razak Exchange (TRX) mirrors Malaysia’s ambitious vision for the future of international finance and business.

TRX aims to serve as an investment catalyst by attracting global financial players to establish their business and presence within the country.

Speaking with StarBiz7, TRX City Sdn Bhd chief executive officer Datuk Azmar Talib says the concept underlying TRX is to create a vibrant financial district in KL, not necessarily to compete with Singapore and Hong Kong, but to complement these more established financial districts.

TRX offers resilient physical infrastructure for the future of the financial ecosystem, capable of supporting the government’s initiatives to promote the financial services industry. This includes provisions for both Islamic and conventional finance, as well as catering to the needs of the international finance and fintech sectors.

TRX is envisioned as an international financial centre (IFC) that is lively beyond office hours.

It is also designed as a transit-oriented development with the only MRT interchange station in the city for the Kajang and Putrajaya lines.

The lifestyle section of the district, referred to as The Exchange TRX, welcomed the public on Nov 29, along with the TRX City Park. This area features a variety of food and beverage establishments, retail outlets, entertainment options, and a 4.04ha rooftop park designed to reconnect with nature.

The first phase of the project was completed in 2019, with the opening of Menara Prudential, which is home to Prudential Malaysia’s new headquarters and The Exchange 106. The latter is an iconic office building that was uniquely designed for rent and lease purposes. In 2022, HSBC Malaysia and Affin Bank opened their new headquarters in TRX.

Tech tenants in Exchange 106 at TRX include Huawei regional office, Accenture, Agoda and a host of financial services firms.

Among the financial entities are digital banks and fintech companies like UnionPay and MoneyLion.

Upon reaching full development, TRX envisions accommodating 40,000 knowledge workers, as well as hosting 12,000 residents and over 10,000 retail workers within the district.

A decade ago, TRX’s planning was marked by a significant emphasis on sustainability considerations.

Azmar says the district is on track to meet its net zero goal by 2030. All the office buildings in TRX are minimum gold certified by either GBI or LEED.

Owing to its district-wide sustainable features such as the world-class public realm and the dedicated on-site wastewater treatment and recycling plan, TRX is the first in South-East Asia to receive LEED Neighbourhood Development Gold Pre-certified Plan. The wastewater treatment and recycling plant reduces potable water demand by 50% by recycling at least 80% of used water on site. The treated water is used for cooling, irrigation and flushing.

“TRX is a sustainable IFC where people can work, play, and live comfortably.

“It is for both business and leisure. We have a mall, residential areas, and a park that redefines the public realm for Kuala Lumpur.

“TRX offers a unique blend of concrete and green spaces, catering to various needs, all centred around providing a high level of service and ease of doing business,” Azmar adds.

Source: The Star