Malaysia legislation
Section 28
Section 28
(a)
the salaries, fees, remuneration, allowances, pensions, superannuation allowances and any gratuities due under any contract, of the officers, agents and servants, and technical or other advisers, of the Corporation;
(b)
interest on any debentures and debenture stock issued, and on any loan raised, by the Corporation;
(c)
sums required to be transferred to a sinking fund or otherwise set aside for the purpose of making provision for the redemption of debentures or debenture stock or the repayment of other borrowed moneys;
(d)
working and establishment expenses and expenditure on, or provision for, the maintenance of any of the installations of the Corporation, and the discharge of the functions of the
Corporation properly chargeable to revenue account;
(e)
such sums as the Corporation may deem appropriate to set aside in respect of depreciation on the property of the
Corporation having regard to the amount set aside out of revenue under paragraph (c);
(f)
the remuneration, fees and allowances of the members of the Corporation; and
Perbadanan Pembekalan Letrik Sarawak 27
(g)
any other expenditure authorized by the Corporation and properly chargeable to revenue account.
(2)
The balance of the revenue of the Corporation shall be applied—
(a)
to the creation of reserves; and
(b)
to the payment of such interest on shares and stock issued by the Corporation as the state of the undertakings and the financial position of the Corporation appear, in the opinion of the Corporation, to warrant, but so that, in the case of ordinary shares or stock, the rate of interest shall not exceed an average rate taking one year with another, of six per centum per annum of the nominal value thereof.
Investment of funds