23rd February 2024

KUALA LUMPUR, 23 February 2024 - The Tun Razak Exchange (TRX) was officially launched as Malaysia’s International Financial Centre (IFC) by Prime Minister Datuk Seri Anwar Ibrahim here today.

10-years in the making, TRX stands as a testament to the successful realization of Malaysia's ambitious vision to establish a world-class international financial district, aligning seamlessly with the nation’s overarching ambition to compete prominently on the global stage.

TRX has emerged as a global business hub with a diverse array of companies and a working population of over 30,000 people including 20,000 knowledge workers. It is expected to continue to drive economic transformation and serve as a catalyst for innovation, entrepreneurship, and job creation.

The 70-acre Tun Razak Exchange is located in the heart of Kuala Lumpur, boasting state-of-the-art infrastructure and cutting-edge facilities. TRX City Sdn Bhd (TRXC), a wholly owned subsidiary of MOF Inc, is the master developer of the TRX District.

TRXC Chief Executive Officer Dato’ Azmar Talib said TRX represents what Malaysia needs -- a modern, vibrant, and sustainable destination that fosters the convergence of great business minds to shape the future.

“Today, I stand before you with immense pride. TRX is Malaysia's resounding statement to the world that we can deliver on our commitments, and more.

“This achievement would not have been possible without our partners in government, investors that believe in our country and the opportunities we bring, and the TRX community of global and home-grown blue-chip companies,” he said at the launch.

Also present at the event were Finance Minister II Datuk Seri Amir Hamzah Azizan, international delegates, industry leaders and government officials.

TRX investment partners include the Lendlease Group of Australia, Mulia Group of Indonesia, HSBC Malaysia, AFFIN Group, CORE Precious Development Sdn Bhd, Veolia, IJM Group and Prudential Malaysia.

HSBC Bank Malaysia Chief Executive Officer Dato’ Omar Siddiq said TRX is ideally located in the heart of Malaysia’s capital and is crucial to enhancing Malaysia’s status as an international financial centre.

“The new international hub for finance and business leverages Malaysia's existing strengths and plays on its strategic location to complement other economic and financial centres within the region. HSBC itself has enjoyed 140 years of remarkable business success in Malaysia and has been a key player in its development narrative. The country has always been a priority market for the HSBC Group globally and the US$250 million investment in our head office at TRX reinforces our commitment to expanding our business in the country and supporting the growth aspirations of our clients,” he said.

President & Group Chief Executive Officer of Affin Bank Berhad, Datuk Wan Razly Abdullah said, “We are proud to be part of Malaysia’s first IFC, a milestone that resonates deeply with our vision to be The Most Creative Financial Company in Malaysia. The overwhelming support from our customers and employees for our new TRX headquarters fuels our dedication to delivering Unrivalled Customer Service, Digital Leadership, and Responsible Banking with Impact (ESG). “

Dato’ Azmar said that with the opening of the Exchange TRX and TRX City Park in November, the district has reached an even wider spectrum of Malaysians and international tourists.

“The response from the public towards our retail and lifestyle components have been overwhelming. TRX now stands as a symbol of urban sophistication and is fast emerging as KL’s new Central Business District,” he said.

Sitting above The Exchange TRX retail hub is the 10-acre TRX City Park - the first major public realm in the city in more than 20 years, and this is the first and one of the largest rooftop parks of its kind in the region and even the world.

Lendlease Chief Executive Officer Asia, Justin Gabbani said that the company was “honoured to partner and invest with TRX City in this nation-defining development, leveraging Lendlease’s global capabilities in developing large-scale urban regeneration projects.

“The Exchange TRX, which comprises the lifestyle retail, hotel, and office building and the TRX Residences are Lendlease’s largest integrated developments in Asia to date, complementing the transformation of the broader TRX precinct into a world-class business and financial hub. Our investment in TRX strengthens our portfolio in Asia and we look forward to creating communities that thrive as we progressively unveil other components of The Exchange TRX.”

Mulia Property Development Sdn Bhd’s Chief Executive Director, Dato’ Lai Weng Hoo said, “It is an honour and accomplishment for Exchange 106 to be an integral part of the formation and fruition of TRX as Malaysia’s International Financial Centre and Kuala Lumpur’s futuristic CBD. The strong positioning of TRX as a world class commercial and financial centre has resulted in very robust occupancy growth in Exchange 106 especially amongst many esteemed multinational businesses. Since its completion, it has forged ahead to become the corporate premier address of choice. With the strong continued support of the Government under the purposeful direction of the Prime Minister, YAB Dato Seri Anwar Ibrahim, Exchange 106 is very confident and optimistic that the momentum of growth in TRX will continue strongly into the foreseeable future. Together with TRX, Exchange 106 will be a seamless and central business environment for financial services firms, MNCs and other businesses and testifies its vision as the new nexus in Kuala Lumpur.”

Huawei Technologies (Malaysia) Sdn. Bhd. Chief Executive Officer, Simon Sun said, “The launch of the Tun Razak Exchange is a monumental achievement for Malaysia, exponentially cementing the nation’s footprint on the global financial stage. Huawei Malaysia is honoured to witness this historic moment and is privileged to be part of its success story. As TRX ushers in a new era of prosperity and establishes itself as a global business hub, Huawei remains steadfast in our dedication to walk alongside the nation in its digital transformation journey and in making the country a leading digital and innovation hub of the region.”

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About TRX City Sdn Bhd 

TRX City Sdn Bhd (TRXC) is wholly owned by the Malaysian Ministry of Finance and is the master developer of Tun Razak Exchange (TRX), Malaysia’s International Financial Centre. TRXC ensures global best practices, developers' innovative master plans, and integrates smart, sustainable, well-connected, and future-proofed infrastructure. As the company that leads the project from vision to execution, TRXC undertakes all planning, marketing, enhancement, management, and infrastructure provisions for the project. 

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