Investors Seek Confirmation on Gov’t Plans for TRX

Pavither May 30, 2018

Companies who have invested in the Tun Razak Exchange (TRX) are seeking confirmation from the new government over its plans for the upcoming financial district, reported The Star.

This is because prior to the 14th General Election, the previous administration had promised that a number of state-owned companies will take-up space at TRX. But now these entities are mum on whether they will honour this commitment, as construction of major buildings there nears completion.

In fact, the Exchange 106 by Indonesia’s Mulia Group there is expected to be completed by September 2018. The 106-storey tower that will serve as the centrepiece of TRX is renting out premises for up to RM17 psf.

Another is the 27-storey Menara Prudential by IJM Corp. The building is targeted for completion by Q1 2019 and is presently being fitted out with 84 percent of the premises already leased out, mainly to private companies.

According to those involved in TRX’s planning and infrastructure, working is ongoing as usual since 9 May.

“There is no slowdown because infrastructure developments have deadlines to meet,” said an anonymous source.

As for the 17-acre Lifestyle Quarter in TRX being developed by Lendlease, work is still ongoing. But the Australian developer wants clarity on the new government’s plans for the financial district.

Lendlease “looks forward to working with the new government and will seek to engage with relevant ministries at the earliest opportunity,” it said on 20 May.

More importantly, the fate of TRX is expected to be among the important discussions at the Malaysia-Australia Business Council monthly meeting tomorrow (30 May).

“Many who invested in TRX came because they view Malaysia as politically stable. The country, as an investment destination, has had the same government for more than 60 years. The change in government has thrown up some interesting possibilities as far as TRX is concerned,” said a source.

“Kuala Lumpur is not a market that you build on the speculation. It would be unfortunate if (TRX) commitments are wound back.”

Image sourced from

This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email

For the latest property news, trends, resources and expert opinions, visit our Property News section. Home buyers, sellers or property renters looking for Malaysian Properties, may like to visit the New Launches or Project Reviews page.


You may also like these articles

TRX Attracting Global Firms Despite 1MDB Scandal

 More multinational firms are investing in Kuala Lumpur’s 70-acre Tun Razak Exchange (TRX) despite the scandal surrounding 1Malaysia Development Berhad (1MDB), reported Bloomberg.For instance,

Continue ReadingJune 21, 2017

Making KL Smaller: TRX City Partners with MRT and SMART for Smoother Connectivity

 TRX City Sdn Bhd, master developer of Kuala Lumpur’s upcoming financial district Tun Razak Exchange (TRX), has entered into strategic partnerships with major transport infrastructure players M

Continue ReadingSeptember 26, 2017

China Strengthens Foothold in Malaysia With CCCC Hub in Asia at TRX

  China Communications Construction Co Ltd (CCCC) is building the CCCC tower in the Tun Razak Exchange (TRX), which will serve as its regional head office for Asean.“We have acquired the land. We a

Continue ReadingSeptember 26, 2017

Najib Insists on Hiding Cost of TRX- Apparently Due to Confidentiality Clause

  The Ministry of Finance (MoF) refuses to divulge the exact size and selling price of the land in Tun Razak Exchange (TRX) it bought from 1Malaysia Development Bhd (1MDB) in 2015 because it doe

Continue ReadingNovember 14, 2017

Finance Ministry Tight-Lipped and Brushes off Questions on Alleged Acquisition of 51% Stake in TRX Developer

  Finance Ministry is tight-lipped on the acquisition of 51% stake in developer building Malaysia’s tallest tower. The Finance Ministry has reportedly acquired a 51 percent stake in the com

Continue ReadingJanuary 16, 2018

Someone stole the US$3bil meant for TRX infra

  1Malaysia Development Bhd (1MDB) had issued US$3 billion worth of notes in April 2015 with a coupon of 4.4 percent per annum until its 2023 maturity. Part of the proceeds from the issuance sho

Continue ReadingMay 22, 2018