KUALA LUMPUR – HSBC is investing US$250mil (RM1.06bil) to build its future headquarter office in the Tun Razak Exchange (TRX) under its commitment to develop Malaysia as a financial hub in Asean.
HSBC Bank Malaysia Bhd said on Thursday the banking group and TRX City Sdn Bhd signed a sale-and-purchase agreement for the development of HSBC Malaysia’s future HQ in the international financial district.
“This marked the first phase of the land acquisition. 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,” it said.
HSBC Malaysia CEO, Mukhtar Hussain said this investment would be fundamental to developing Malaysia as a financial centre in the Asean region, and HSBC was 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.
Mukhtar pointed out TRX was in the heart of Malaysia’s capital and the location would be crucial to enhancing Malaysia’s status as an international financial and business centre.
“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,” he said.
Mukhtar said with the banking group’s strong positioning in the country as the leading foreign bank and unparalleled international network, HSBC was ideally positioned to boost TRX’s success.
“I strongly believe that our collaboration will result in successfully developing the country’s financial centre.
TRX City chief executive officer Datuk Azmar Talib described HSBC’s investment as a significant milestone for TRX to develop Malaysia’s international financial centre.
“To date, around 70% of the plots available in TRX have been commercialised, and TRX City continues to receive significant interest from various 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 Berhad 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.
TRX will feature an integrated MRT interchange station. This is further supported by direct links to major roads such as Jalan Tun Razak, the MEX highway and the SMART Tunnel.
TRX is also working with Kuala Lumpur City Hall (DBKL) on the Jalan Tun Razak traffic dispersal project and on building pedestrian-friendly walkways that will connect to the Bukit Bintang shopping belt to TRX.