Malaysia legislation

Section 24

of MUDA AGRICULTURAL DEVELOPMENT AUTHORITY ACT 1972

Section 24

(2)

The Authority may, from time to time, with the approval of the Minister of Finance, borrow money by the issue of bonds, debentures or debenture stock, or raise capital by the issue of shares or stock of such class and value and upon such terms as it may deem expedient, for all or any of the following purposes:

(a)

the provisions of working capital;

(b)

the fulfilling of the duties of the Authority under this

Act;

(c)

the fulfilling of such additional functions as may be undertaken by the Authority under this Act;

(d)

the redemption of any shares or stock which it is required or entitled to redeem; and

(e)

any other expenditure properly chargeable to capital account.

Investment