Business

HSBC invests US$250m to build HQ in TRX

An artist’s impression of the Tun Razak Exchange financial district in Kuala Lumpur.
KUALA LUMPUR: The US$250 million (RM1.06 billion) to construct HSBC Malaysia’s future headquarter office in the Tun Razak Exchange site (TRX) underscores the bank’s commitment to develop Malaysia as a financial hub in the Asean region, said HSBC Malaysia.

The two parties (HSBC and TRX City Sdn Bhd) have signed a sale-and-purchase agreement for the development of HSBC Malaysia’s future headquarters at the international financial district TRX, marking the first phase of the land acquisition.

HSBC Malaysia Chief Executive Officer Mukhtar Hussain said the investment for the future HSBC Malaysia TRX headquarters, which will have a minimum office space of 568,000 square feet, made HSBC the first foreign bank to invest in the TRX development.

​Source: Malay Mail Online