Melaka Corporation (MCORP), formerly known as Melaka State Development Corporation (PKNM), was established in response to the Federal Government's recommendation that each state in the country establish their own state development corporation in order to improve economic and socioeconomic development. At the time, each PKEN was responsible for conducting economic and social development activities in their respective states as a Statutory Body. It is also consistent with the government's goal of implementing the New Economic Policy (NEP), particularly in securing the involvement of the Bumiputera community.