Penang today is one of the smaller and more populous Malaysian states
[Original caption] Penang. The official name of the island is Prince of Wales Island and the town is Georgetown, but neither of these names is in general use. Penang was founded 17th July 1786 having been ceded to the East India Company bu the Sultan of Kedal, in return for an annuity in 1785. At this time the island was almost uninhabited. Penang has an excellent harbour and is the centre of considerable trade. [end]