HSBC Malaysia plans US$250m HQ at TRX

> First foreign bank to invest in international financial district Tun Razak Exchange in the heart of Kuala Lumpur

PETALING JAYA: HSBC Bank Malaysia Bhd is investing US$250 million (RM1.06 billion) to construct its headquarters at the upcoming international financial district Tun Razak Exchange (TRX).

In a joint statement yesterday, the bank said it had signed a sale-and-purchase agreement with TRX City Sdn Bhd, the master developer of TRX for its future HSBC Malaysia TRX headquarters, which marks the first phase of the land acquisition.

The deal makes HSBC the first foreign bank to invest in the TRX development, with a minimum office space of 568,000 sq ft.

HSBC Malaysia CEO Mukhtar Hussain said TRX is ideally located in the heart of Malaysia’s capital and will be crucial to enhancing Malaysia’s status as an international financial and business centre. Mukhtar said the collaboration between HSBC and TRX also demonstrates the bank’s commitment to its employees, community and business in Malaysia, noting the country is a priority market for the HSBC Group globally. Meanwhile, TRX City CEO Datuk Azmar Talib said this is a significant milestone for TRX development, as it moves to realise its vision in becoming Malaysia’s international financial center.

“We are happy to have a leading financial services institution like HSBC as our partner, as this will solidify our role in strengthening Kuala Lumpur’s position as a leading centre for international finance and business,” he said.

To date, Azmar said around 70% of the plots available in TRX have been commercialised, and it continues to receive significant interest from various local and international investors and tenants, including several of the world’s major banks and financial institutions.

Previously, TRX has 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 Bhd for an office tower; Lembaga Tabung Haji for a residential plot, and global leader in water management Veolia Water Technologies as the water treatment and recycling concessionaire.