Tuesday, 24 December 2019
What Is Asia's New Business Address ?
TRX - Asia's New Business Address
Developments in the last decade have put Asia in a prime position to drive global economic growth for years to come. Forecasts by the Asian Development Bank predict that Malaysia is among the top high growth Asian economies that will lead Asia to account for more than 45 percent of global GDP by year 2050. The international business community, too, has shown confidence in Malaysia, ranking in 18th for ease of conducting business, 9th in financial market development and 19th for competitiveness worldwide.
In recognising the nation's potential, the Malaysian government has been investing in infrastructure that will support a knowledge-based, high-value economy moving forward.
Today, Kuala Lumpur is a vibrant, diverse and dynamic city, and the addition of a dedicated financial district will only take the nation's economic growth to new heights. To realise the government's objective of transforming Malaysia into a major hub for global finance and commerce in Southeast Asia, the idea of Tun Razak Exchange (TRX), Malaysia's first international financial district, was conceived.
TRX aims to help transform Kuala Lumpur into a prominent Asian financial hub like Singapore and Hong Kong; a sustainable financial centre that will attract foreign investment to stimulate wealth creation and economic prosperity. The 70-acre financial district in the heart of the bustling capital promises to be a haven for foreign investment and home to some of the world's biggest businesses, cultivating a modern and dynamic financial ecosystem. The nucleus of TRX, Exchange 106 is being developed by the Mulia Group and is set to be the tallest tower in Southeast Asia.
Sporting world-class business facilities, communications infrastructure and cutting-edge security, the imposing skyscraper will be a welcome addition to the breathtaking Kuala Lumpur skyline.
"Our blueprint is to complement other iconic towers in Malaysia, giving a fresher and contemporary look. The signature tower will fulfill TRX's potential in developing the city as Malaysia's international financial district,".
But TRX is more than just a financial hub. Australia property and infrastructure group Lendlease is working in partnership with TRX City Sdn Bhd to design the district's lifestyle quarter, The Exhange TRX, which will feature recreational green spaces, residences, luxury business and leisure hotels, as well as a vibrant retail mall.
"We want it to be sustainable in the long-term because we are not just building a shopping centre. The idea is for it to become a major public place where the community can come and play," said Lendlease Managing Director and Country Head (Malaysia), Stuart Mendel.
Global giants such as HSBC and Prudential as well as local leaders like Affin Bank have already committed to establishing regional offices in TRX, and they will soon be accompanied by other prominent and renowned companies.
These companies are facilitated by the Government's support in the form of attractive incentives for investors and companies looking to move their business operations to the new district.
"We are ahead of the schedule and we will be moving part of our businesses (to TRX) by the end of 2020," said HSBC Malaysia Chief Executive Officer, Stuart Milne.
"This is a prime location and having an office here will definitely reinforce our branding and position in the market," said Affin Bank Berhad Group Chief Executive Officer, Kamarul Ariffin Mohd Jamil.
The smart and sustainably-designed TRX will be further complemented by excellent connectivity via highways and public transportation, making TRX one of the best-connected business districts in Asia.
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