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Wednesday, 9 August 2017

(NST) TRX hits 80pct take up rate at north side


KUALA LUMPUR: The Tun Razak Exchange (TRX), an iconic 28.3-hectare (70-acre) development in the heart of Kuala Lumpur, has seen 80 per cent of the land on its north side being commercialised, or under negotiations.

TRX City Sdn Bhd Chief Executive Officer Datuk Azmar Talib said the group is now in an advanced stage of talks with various investors, some of them amongst the world's most recognisable names in banking and finance.

"Today, we have on board with us world class investors who believe in our vision," he said in his welcoming speech, in hosting several Heads of Mission to the TRX site, here today.

Azmar said, HSBC, one of the world's largest banks, has committed a USD250million investment for the building of its new Malaysian headquarters in TRX (US$1 = RM4.29).

"This is significant for us, as HSBC was also one of the early believers in Canary Wharf (in London) and Dubai International Financial Center, our inspirations.

"We also have Lendlease, who will jointly develop the Lifestyle Quarters, Mulia International Group, who is building the Signature Tower, Veolianwho is the concessionaire for our wastewater recycling plant, and the list is still expanding as we speak," said Azmar.

Azmar added once TRX is open for business, the TRX Station will be the busiest station in Kuala Lumpur, with two lines and up to 25,000 passengers every hour at its peak.

Meanwhile, InvestKL Malaysia CEO, Datuk Zainal Amanshah whom met at the same event said, 13 ambassadors and representatives from 21 countries were brought to TRX site today towitness the advancement of the project.

Among in the list, are from the UK, France, Belgium, NZ, Kazakhstan, the Netherlands, China, Japan, coming to witness the advancement of TRX which upon completion, would be one of the most inconic hubs in Kuala Lumpur.

"There are still interest here despite concerns in 1MDB. Investors confidence is still there as the fundamentals continue to be strong.

"We are also pushing for Digital Malaysia for companies begin to have their hubs here too," he said.

Zainal shared InvestKL is set to attract 10 multinational companies (MNCs) this year and on track to secure 100 MNCs by 2020.

"This year has been very good. We shall be on track to meet our target.

"To date, InvestKL has attracted 65 MNCs with approved and committed investments of more than RM10 billion (since 2011) and to create 10,000 regional jobs.

"It's all going well, with realised investments has reached more than 30 per cent while job on payroll now over 60 per cent" he added. - BERNAMA