The Minister of Finance Incorporated (MOF Inc) has confirmed that it will jointly develop the Exchange 106 tower at TRX (TRX Tower) with The Mulia Group.

This follows the 51 per cent shareholding takeover of MOF Inc's wholly owned subsidiary, MKD Signature Sdn Bhd (MKD) in Mulia Property Development Sdn Bhd (MPD) in July 2017.

Construction of the TRX Tower is expected to be completed by the second half of 2018, MOF Inc said in a statement today.

MPD is jointly owned by The Mulia Group (49 per cent) and MKD (51 per cent).

MOF Inc further said the cost of the development of the TRX Tower will be borne by the two shareholders based on their respective proportions of shareholding outlined in the joined venture (JV) agreement.

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