KUALA LUMPUR (May 20): Tun Razak Exchange (TRX) is now 99% completed, with the remaining 1% comprising major infrastructure works which are nearing completion, master developer of the financial district TRX City Sdn Bhd said. “Although we were constrained by the Movement Control Order (MCO) resulting from the Covid-19 pandemic, we managed to continue developing TRX and the successfully completed buildings today are Menara Prudential and HSBC Bank,” TRX City chief executive officer Datuk Azmar Talib told the media at the Hari Raya open house at Raintree Plaza, TRX here on Friday. Azmar said although TRX City is the master developer, the development of the individual plots depend on the respective land owners. On global inflationary pressures and rising interest rates, Azmar said the company does not rule out their impact on TRX, but (the fact remains that) it has completed most of the development work. “We will be completing the work, but moving forward we have to be aware (of this inflationary pressures and rising rates) and we have to adjust with this.

Source: The Edge Markets May 20, 2022 22:01 UTC