PwC Malaysia's TRX entry boosts KL as global financial hub
Speaking at the groundbreaking ceremony, Amir Hamzah emphasised that PwC's presence will generate high-quality jobs and enhance regional connectivity across ASEAN. The project, set for completion in Q2 2029, marks TRX's 10th office development.
'Today's groundbreaking ceremony is more than just a success for TRX, it is a win for Kuala Lumpur,' he said, underscoring the government's commitment to boosting Malaysia's economic competitiveness under the MADANI Economic Framework.
TRX has already attracted over RM8 billion in investments, housing 20,000 knowledge workers and global giants like HSBC, Prudential, and Apple. Amir Hamzah noted that TRX's clustering of industry leaders offers unmatched opportunities in ASEAN and Asia.
Prime Minister Datuk Seri Anwar Ibrahim officially launched TRX as Malaysia's International Financial Centre in February 2024. The initiative aligns with national efforts to position Malaysia as a top global business destination.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
17 minutes ago
- The Star
Proposals on unexplained wealth, monthly pensions to be studied, says Amir Hamzah
Finance Minister II Datuk Seri Amir Hamzah Azizan. KUALA LUMPUR: The government is not yet ready to implement the Unexplained Wealth Order (UWO), despite having received proposals for its introduction, says Datuk Seri Amir Hamzah Azizan. The Finance Minister II said the government would first study related issues before any implementation. "We will look at good ideas before execution, and I have received suggestions to explore. We will study the matter first and understand the issues involved because we do not want unintended consequences,' he said. He told reporters this after officiating the 2025 National Tax Conference here on Tuesday (Aug 5). Previously, former Klang MP Charles Santiago was reported as saying that Malaysia needed the UWO to hold all elites accountable for the source of their wealth. Meanwhile, Amir Hamzah said the government would also examine efforts to introduce monthly pension payments as part of the initiative to improve the national remuneration system. He said a thorough study must be carried out to refine more practical implementation methods. "The issue we see now is that when someone gains full access (to their retirement funds), many tend to spend the money quickly. So, when they reach old age, they don't have sufficient savings. "I believe in the study, we will look at various more practical implementation methods. As previously explained, this initiative is for those newly entering the Employees Provident Fund (EPF) scheme, not for those already in the system,' he said. According to the 13th Malaysia Plan (13MP) document issued by the Economy Ministry on July 31, the government will explore a new mechanism to ensure continuous post-retirement income by splitting EPF contributions into two main components, namely retirement savings and monthly pensions.- Bernama
Malay Mail
17 minutes ago
- Malay Mail
Malaysia mulls unexplained wealth law to trace elites' riches, but warns of ‘unintended consequences'
KUALA LUMPUR, Aug 5 — The government is not yet ready to implement the Unexplained Wealth Order (UWO), despite having received proposals for its introduction, says Finance Minister II Datuk Seri Amir Hamzah Azizan. He said the government would first study related issues before any implementation. 'We will look at good ideas before execution, and I have received suggestions to explore. We will study the matter first and understand the issues involved because we do not want unintended consequences,' he said. He told reporters this after officiating the 2025 National Tax Conference here today. Previously, former Klang MP Charles Santiago was reported as saying that Malaysia needed the UWO to hold all elites accountable for the source of their wealth. Meanwhile, Amir Hamzah said the government would also examine efforts to introduce monthly pension payments as part of the initiative to improve the national remuneration system. He said a thorough study must be carried out to refine more practical implementation methods. 'The issue we see now is that when someone gains full access (to their retirement funds), many tend to spend the money quickly. So, when they reach old age, they don't have sufficient savings. 'I believe in the study, we will look at various more practical implementation methods. As previously explained, this initiative is for those newly entering the Employees Provident Fund (EPF) scheme, not for those already in the system,' he said. According to the 13th Malaysia Plan (13MP) document issued by the Economy Ministry on July 31, the government will explore a new mechanism to ensure continuous post-retirement income by splitting EPF contributions into two main components, namely retirement savings and monthly pensions. — Bernama
New Straits Times
2 hours ago
- New Straits Times
Govt weighs unexplained wealth order, no green light yet: Amir Hamzah
KUALA LUMPUR: The government is not ready to make any final decision regarding the implementation of the Unexplained Wealth Order (UWO), although he acknowledges that the proposal is being seriously studied. Finance Minister II Datuk Seri Amir Hamzah Azizan said the proposal is one of the ideas that deserves attention but requires thorough research before any action is taken. "We cannot rush into implementing it. I have received the proposal to assess the implementation of the UWO, and we will look into it seriously. "However, for now, the government is not ready to make a final decision," he said at the 2025 National Tax Conference. Recently, former Klang MP Charles Santiago called on the government to introduce legislation enabling the issuance of UWOs, highlighting it as a necessary tool to combat illicit wealth accumulation and systemic corruption among the elite. Amir Hamzah said any new policy, including UWO, must go through a research and in-depth understanding process to evaluate its implications on the economy and the public at large. "We do not want to implement a policy that ultimately brings negative or unintended consequences. What's important is to fully understand the implications before making any decision," he added. On the implementation of tax on high-value goods, he said the government always adopts a targeted approach to ensure that the tax burden falls only on those who can afford it. "For example, when we expanded the Sales and Services Tax (SST), we carefully examined which segments could bear the tax burden. Basic goods widely used by the public are exempted from SST, while tax is only imposed on non-essential or luxury items." He added that in the healthcare sector, taxes are imposed on foreigners receiving treatment in Malaysia, while in the education sector, tax is only applied to high-income groups above the age threshold of 60.
