Guan Eng: TRX detoxified, 1MDB ghosts being exorcised
The RM40 billion Tun Razak Exchange (TRX) project has been “detoxified” as part of a review conducted on all government-related projects by the Pakatan Harapan administration, said Finance Minister Lim Guan Eng. He said the government believes all of its investments should go through rigorous analysis in line with the principle of competency, accountability and transparency. “The review that we conducted on TRX showed that the government is able to recover all of its opportunity cost and investment made into TRX,” he noted. The Exchange TRX has secured RM2.15 billion in financing facilities for five years from a consortium of banks, comprising Hongkong and Shanghai Banking Corp (HSBC), Malayan Banking Bhd, Standard Chartered and Sumitomo Mitsui Banking Corp. Formerly known as the Lifestyle Quarter, The Exchange TRX is a 17-acre mixed used development within the larger 70-acre international financial district TRX development. (The Sun Daily)

Govt to not guarantee development funding for TRX Lifestyle Quarter
HSBC Malaysia said the government is not the guarantor for the RM2.15 billion in funding for Lifestyle Quarter, called The Exchange, in Tun Razak Exchange (TRX). This is as the lending facility is classified as non-recurring, which means the servicing of debt will come from the cash flow generated by The Exchange project itself. Its developer Lendlease Corp has secured the RM2.15 billion financing from HSBC, Standard Chartered Bank, Sumitomo Mitsui Banking Corp and Malayan Banking Bhd. This is the first round of development financing and is meant to finance the development of retail, hotel and office segments of the development. Construction for The Exchange mall is set to be completed by 2021 while its hotel and office space would be completed in 2022. (The Edge Markets)

Semporna to have first ‘floating city’
Semporna district will be the first to have a floating city in Sabah. Deputy Chief Minister Datuk Dr Jaujan Sambakong, who is also the Local Government and Housing Minister, said that the floating city of Semporna would serve as an alternative attraction for the district, in addition to Sipadan Island and Mabul Island. It is hoped that the floating city would materialize within 15 years, he said, adding that the idea and proposal for the floating city was conceptualised by Hatten Group Sdn Bhd. The estimated area for the floating city is 300 acres and that the site would be built on government land by the sea. He also said that there would be no land reclamation for the project. It is estimated that Semporna presently receives up to 2,000 tourists per day and there are not enough accommodation facilities to house the guests. (The Borneo Post)

EPF sells Wisma KFC to Singapore company
The Employees Provident Fund (EFP) has sold Wisma KFC in Jalan Sultan Ismail, Kuala Lumpur, to Singapore-based property developer and manager Royal Group. Sources say the 22-storey office building, which is believed to have been sold for about RM130 million, may be turned into a hotel. Located within the Golden Triangle of Kuala Lumpur, the office building has a gross floor area of 342,145 sq ft and occupies a 0.5-acre freehold plot. Formerly known as Wisma Idris, the building was built in the 1990s and was once the headquarters of Kentucky Fried Chicken Holdings (M) Bhd. The EPF had bought the building from KFCH for RM90 million in 2004. (The Edge Markets)

Source: The Straits Times

Males outnumber females by one million in Malaysia; birth rate falling
The country’s population grew by 1.1% to 32.6 million in the fourth quarter (Q4) of 2018, compared to 32.2 million in Q4 2017, stated demographic data by the Department of Statistics Malaysia. Of the total, 16.8 million were male and 15.8 million female. In total, there were 127,400 live births in Q4 2018 – a decrease of 2.5 per cent compared to Q4 2017, which saw 130,600 live births. Overall, Selangor is the most populous state in the country, with 6.5 million people; while the Federal Territory of Putrajaya has the lowest population, with 91,900 people. As for deaths, there was a decrease of 1.9% in Q4 2018, compared to Q4 2017. (NST Online)