Section 27
Investment
of Housing Development Corporation Ordinance, 2002
The Corporation may, with the approval of the Minister, invest any of its funds available for investment in the following manner:
(a)
by depositing in—
(i)
Bank Negara Malaysia; or
(ii)
any financial institutions;
(b)
by investing in bonds, debentures, commercial notes, money market instruments, certificates of deposits and promissory notes and bills of exchange within the meaning of the
Bills of Exchange Act 1949 [Act 204];
(c)
by investing in accordance with the Trustee Act 1949
[Act 208]:
Provided however, where the Corporation invests in or upon titles to immovable property in Malaysia in accordance with section 4(1)(c)
of the Trustee Act 1949 [Act 208], such immovable property may or may not yield any income at the time of such investment.