Malaysian Prime Minister Datuk Seri Anwar Ibrahim officially inaugurated the Tun Razak Exchange (TRX) as Malaysia’s International Financial Centre (IFC) by introducing relocation incentives for companies. With over 30,000 employees, including 20,000 knowledge workers, TRX has evolved into a bustling business center poised to stimulate economic growth, innovation, and job creation.
Situated at the heart of Kuala Lumpur, TRX, inaugurated in November 2023, covers an area of 70 acres and boasts cutting-edge infrastructure. The incentives comprise an industrial building allowance, a five-year tax exemption on 70% of statutory income for property developers, and a stamp duty exemption on loans and services for TRX Status companies. Notable 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.
TRX embodies Malaysia’s aspiration to create a preeminent global financial hub within a contemporary, lively, and eco-friendly setting. Additionally, it reflects the nation’s historical significance as a trading center, leveraging its strategic position along essential trade routes and its integral role in global supply chains. This presents an attractive opportunity for international companies seeking regional investment prospects.
(Sources: New Straits Times; The Star)
