Kuala Lumpur is gaining ground as a leading financial hub, climbing three spots in the Global Financial Centres Index 39 to rank second in Asean last year. As competition intensifies across the region, the question for global business is no longer about whether to expand, but where to base that growth.

At the heart of Malaysia’s shift is Tun Razak Exchange (TRX), a purpose-built international financial centre developed to support the country’s financial ecosystem and global ambitions.

“TRX is a national economic enabler that is designed to generate economic opportunities for the country and attract international businesses to base themselves in Kuala Lumpur,” says Dato’ Azmar Talib, CEO of TRX City, the project’s master developer and the custodian of Malaysia’s international financial centre, which is wholly owned by the Ministry of Finance.

For Azmar, who has guided the TRX project from vision to reality over the past 15 years, building an international financial centre means thinking beyond individual buildings.

“We have to create things that can evolve, that can be scaled up over time. And they must relate to and be relevant to those who want to do international business,” he says.

That approach has shaped TRX as a fully integrated district, curated to meet the needs of global companies that choose it as the place to set up their headquarters, regional hubs, centres of excellence and more.

Rather than focusing solely on office space, TRX has been designed around people, combining connectivity, infrastructure and lifestyle within a single ecosystem. Located above Kuala Lumpur’s only MRT interchange, it offers a mix of workspaces, retail, hospitality and green space spanning 28 hectares (70 acres).

This emphasis on liveability is closely tied to Malaysia’s growing appeal as a talent base. The country is placed at No 25 in the 2025 IMD World Talent Ranking, reflecting its ability to attract and develop skilled professionals. TRX says it is already home to more than 20,000 knowledge workers across finance and technology, with that number expected to double as the district matures. According to Azmar, around 90 per cent of TRX’s tenants are international.

Among them is CGS International Securities, which sees TRX as a platform for regional connectivity. “As an international financial centre, TRX allows us to super-connect and join the dots within Malaysia and across the region,” says Alan Inn, country head of Malaysia for CGS International Securities.

The presence of global players is also helping shape the next phase of Malaysia’s financial services industry. Ant International, a spin-off of fintech company Ant Group, has established its Asean hub at TRX, making Kuala Lumpur its base to expand digital payments and financial services across the region’s emerging markets. Ant Group is an affiliate of Alibaba Group Holding, which owns the South China Morning Post.

Jake Xue, general manager of global business services and support at Ant International, notes that TRX’s concentration of financial institutions and partners also makes it easier to collaborate.

As global capital and talent become more mobile, international financial centres like TRX are playing an increasingly important role in determining where that activity flows. In Kuala Lumpur, TRX is not only reflecting the city’s rise, but it is also helping define it.

Watch the video to learn more about TRX and the companies operating there.