Malaysia legislation

Section 59B

of PENANG PORT COMMISSION ACT 1955

Section 59B

The Commission, with the approval of the Minister and the concurrence of the Minister of Finance, may—

(a)

enter into any arrangement for sharing of profits, union of interests, cooperation or joint venture with any person or body of persons; or

(b)

establish or promote the establishment and expansion of companies under the Companies Act 1965 [Act 125].

Powers of the Commission to carry on activities which are commercial in nature