KUALA LUMPUR - The development of the Tun Razak Exchange, named after Prime Minister Datuk Seri Najib Razak’s father, who was the country’s second prime minister, comes after a series of high-profile initial public offerings that have solidified the country as Asia's top IPO destination this year.
TRX located in the southern tip of Kuala Lumpur, which has the world’s biggest Islamic bond market, would create half a million jobs directly and indirectly and was expected to attract more than 250 leading global companies.
“We want to have a new business and financial hub that brings in the east and west together. One that can grow both Islamic and conventional finance,” said Tan Sri
Lodin Wok Kamarrudin, chairman of the board of directors at state- owned strategic development firm 1Malaysia Development Bhd, the master developer of TRX.
The project, which spans 28 hectares is part of Malaysia’s Economic Transformation Programme (ETP) aimed at making the country a high-income nation by 2020.
Lodin Wok said TRX is envisioned to be a global meeting place, where great minds converge to bring out the best of innovation and ideas.
"As a strategic development company wholly owned by the government, this vision fits our strategic intent. 1MDB strives not only to enable economic successes but also to help mature a nation.
"Our goal is to help turn Malaysia into a high income economy. We strive to bring prosperity and opportunity to all Malaysians," he said.
NST
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