HSBC to build future HQ at Tun Razak Exchange


Syndicated News
Written by Syndicated News
KUALA LUMPUR — June 15, 2017: HSBC is planning to build its future headquarters at the Tun Razak Exchange (TRX) under its commitment to develop Malaysia as a financial hub in Asean.

HSBC Bank Malaysia and TRX City Sdn. Bhd. today signed a sale-and-purchase agreement for the development of the future HQ at the international financial district. The plan is worth about RM1.06 billion.

“The US$250mil investment for the future HSBC Malaysia TRX headquarters with a minimum office space of 568,000 square feet makes HSBC the first foreign bank to invest in the TRX development,” said the banking group.

HSBC Malaysia CEO Mukhtar Hussain said the investment would be fundamental to developing Malaysia as a financial centre in Asean and HSBC is very excited to be part of this iconic development. 

“HSBC has enjoyed more than 130 years of remarkable business success in Malaysia. Malaysia is a priority market for the HSBC Group globally and this investment further cements our growth plans in Malaysia. 

“The collaboration between HSBC and TRX demonstrates our commitment to our employees, the community and our business in Malaysia. Significantly, it also reinforces the important role Malaysia plays in HSBC’s Asean strategy,” he said.

“We envisage that many multi-national and local companies will be attracted to this area. The strategic decision to invest in the TRX is both a milestone for HSBC and a significant investment, reinforcing our plans to expand our franchise here and to the future of Malaysia,” said Mukhtar. 

TRX City chief executive officer Datuk Azmar Talib described HSBC’s investment as a significant milestone for TRX.

“To date, around 70 per cent of the plots at TRX have been commercialised and TRX City continues to receive significant interest from local and international investors and tenants, including several of the world’s major banks and financial institutions.” 

TRX has also signed global property and infrastructure group Lendlease to jointly develop the Lifestyle Quarter; Indonesia’s leading property developer Mulia Group to develop the Signature Tower plot; Affin Bank for an office tower; Tabung Haji for a residential plot and global leader in water management Veolia Water Technologies as the water treatment and recycling concessionaire. 

The development will have an integrated MRT interchange station and has direct links to Jalan Tun Razak, the MEX Highway and the SMART Tunnel. 



About the author

Syndicated News

Syndicated News

News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.