Section 3

(1)

There shall be established a body corporate to be known as

Malaysia External Trade Development Corporation 9

the “Malaysia External Trade Development Corporation” which shall have perpetual succession and a common seal, which may sue and be sued in its corporate 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

Corporation upon such terms and conditions as it deems fit.