MALACCA: Two pieces of medals, believed to be from the era of the Malacca Sultanate, were found during a hunt for a multi-billion ringgit treasure on Pulau Nangka near here.

The 'treasure' was discovered at 11.30pm on Wednesday by Smart Partnership International (M) Sdn.

Malacca Chief Minister Datuk Seri Idris Haron said the medals would be sent for analysis, including to the National Heritage Department, to determine its authenticity.

He said this to reporters after opening the The Green apartment project at Kota Laksamana here on Thursday.

The project, costing RM331mil is scheduled for completion in 2017.

Smart Partnership International had been given a four-month contract, beginning January to search for the treasure on Pulau Nangka, an uninhabited island of about 20 hectares in size and located four kilometres from Pulau Besar, Jasin.

The contract ended Wednesday.

However, Idris said, the company was allowed to continue with the exploration work pending the outcome of the analysis on the medals.

"If the medals are genuine, we will allow the company to continue the exploration. Otherwise, we will order them to stop and leave the site.

"I also want to make it clear that our contract with the company does not involved funds, only an understanding to jointly search for the historical artifacts," he added. - Bernama