LENDLEASE, TRX CITY SECURE RM2.15B LOAN
Lenders’ commitment shows confidence in RM9b joint development, says Lim
AUSTRALIA-BASED Lendlease and TRX City Sdn Bhd have secured a RM2.15 billion loan from HSBC, Standard Chartered, Sumitomo Mitsui Banking Corp and Malayan Banking Bhd, to complete the RM9 billion Exchange TRX.
Lendlease and TRX City are jointly developing the lifestyle precinct of the RM40 billion Tun Razak Exchange (TRX) project.
Finance Minister Lim Guan Eng said the investment by Lendlease and the commitment of global banks in providing financing demonstrated the international business and financial community’s confidence in the project.
“The financing agreement was based purely on the strength of the project alone, without any new guarantees from the government,” he said at the Exchange TRX’s precinct launch and development financing signing ceremony, here, yesterday.
The 6.9ha Exchange TRX development comprises a hotel, a grade A office space, residential apartments and retail and leisure offerings.
Lendlease holds a 60 per cent stake in the joint venture.
“We are confident of Malaysia’s future and congratulate the government on its vision and drive to realise this landmark project,” said Lendlease chief executive officer (CEO) Asia, Tony Lombardo.
TRX City CEO Datuk Azmar Talib said it would open its doors to tenants in the second quarter of this year.
The broader TRX is a publicprivate partnership project featuring an integrated mass rapid transit interchange station of the Sungai Buloh-Kajang Line and Sungai Buloh-Serdang-Putrajaya Line. This is supported by direct links to major thoroughfares such as Jalan Tun Razak, Maju Expressway, Smart Tunnel and the upcoming Setiawangsa-Pantai Expressway.