KUALA LUMPUR FEB 12: The Pakatan Harapan (PH) government has agreed to provide an additional funding of RM2.8 billion to allow the TRX City Sdn. Bhd. to complete the overall project particularly the world-class infrastructure of Tun Razak Exchange (TRX).
Finance Minister, Lim Guan Eng said, the continuation of the project shows that the present government honours the Barisan Nasional (BN) government’s past agreements and welcome bone-fide investment into Malaysia and world-class investors such as Lendlease from Australia.
“The willingness of the four financial institutions to provide financing facilities to the project demonstrates how far TRX has gone ahead and how much progress has been made since the new government took office on 9th May 2018,” said Guan Eng.
Guan Eng said that in his speech at the TRX Precinct Launch and Development Financing Signing Ceremony here today. The signing ceremony was between TRX City Sdn. Bhd., Lendlease and HSBC, Standard Chartered, Sumitomo Mitsui Banking Corp. and Maybank.
The Finance Minister also said that all investments should go through rigorous analysis in line with the principle of competency, accountability and transparency (CAT).
“We must allow these assets to proceed and not allow them to become collateral damage to the previous government. This project is the symbol of the successful isolation and quarantine of those projects which had certain issues.
“Those unconnected and related can proceed based on market laws and the best international practices,” Guan Eng added.
He also stressed that the government is committed to rooting out corruption at all levels. This should be a signal that for those investors coming here, rest assured their investments are protected by the rule of law.
Guan Eng also cited that the Exchange TRX is a 17 acre-mixed used development within the larger TRX development. It is being developed by a 60:40 joint venture between Lendlease and TRX City Sdn. Bhd.
He also mentioned that other projects at TRX includes the RM500 million Prudential Tower that is scheduled to be completed by this quarter while the Exchange 106 being the tallest building in Malaysia will be completed by the middle of this year. Meanwhile the HSBC Tower and Affin Tower are at various stages of construction. –Malaysia World News