A strange story that is developing in Malaysia: The Malacca government has authorised a treasure hunt in Pulau Nangka, in search of gold thought to belong to the Malacca Sultanate.

Could the treasure be Sultan Mahmud’s riches?
The Star, 14 April 2014
Billion-ringgit treasure hunt in Malacca
The Star, 14 April 2014
Among the theories surrounding the reported buried treasure in Pulau Nangka is that it could be part of a fortune stashed away by the last Sultan of Malacca.
Sultan Mahmud is said to have fled with most of his gold bullion before the Portuguese conquered Malacca in 1511 and for centuries, the story that it was hidden somewhere nearby has refused to die down.
History books say Sultan Mahmud had tried to retake Malacca unsuccessfully on several occasions, probably because of the wealth that he had left behind.
Full story here.