3. Establishment of the Board

There is hereby established a body corporate by the name of

“Malaysia Tourism Promotion Board” with perpetual succession

Malaysia Tourism Promotion Board 7

and a common seal, which may sue and be sued in its name and, subject to and for the purposes of this Act, may enter into contracts and may acquire, purchase, take, hold and enjoy movable and immovable property of every description and may convey, assign, surrender, yield up, charge, mortgage, demise, reassign, transfer or otherwise dispose of, or deal with any movable or immovable property or any interest therein vested in the Board upon such terms as it deems fit.