Malaysia Launches TRX As International Finance Centre, Announces Incentives for Relocating Companies

Mar 2024

Malaysian Prime Minister Datuk Seri Anwar Ibrahim officially inaugurated the Tun Razak Exchange (TRX) as Malaysia’s International Financial Centre (IFC) by introducing relocation incentives for companies. With over 30,000 employees, including 20,000 knowledge workers, TRX has evolved into a bustling business center poised to stimulate economic growth, innovation, and job creation.

Situated at the heart of Kuala Lumpur, TRX, inaugurated in November 2023, covers an area of 70 acres and boasts cutting-edge infrastructure. The incentives comprise an industrial building allowance, a five-year tax exemption on 70% of statutory income for property developers, and a stamp duty exemption on loans and services for TRX Status companies. Notable TRX investment partners include the Lendlease Group of Australia, Mulia Group of Indonesia, HSBC Malaysia, AFFIN Group, CORE Precious Development Sdn Bhd, Veolia, IJM Group, and Prudential Malaysia.

TRX embodies Malaysia’s aspiration to create a preeminent global financial hub within a contemporary, lively, and eco-friendly setting. Additionally, it reflects the nation’s historical significance as a trading center, leveraging its strategic position along essential trade routes and its integral role in global supply chains. This presents an attractive opportunity for international companies seeking regional investment prospects.

(Sources: New Straits Times; The Star)

About Us

Orissa International helps companies that want to develop a market entry strategy for Southeast Asia or implement their business expansion into the region. We have very strong domain knowledge of markets and industry sectors, and a business network of over 16,000 companies that includes distributors, resellers, system integrators and local manufacturers, that we have built through advising and guiding more than 5,000 companies with their market expansion into the ASEAN region over the last 25 years.

Orissa International is headquartered in Singapore, with additional offices in Malaysia, Indonesia, Thailand, Vietnam, and the Philippines.

Our Services