George Town, the capital city of the State of Penang, is the second largest city in Malaysia and the economic centre of the country's northern region. The history of George Town began with its establishment by Captain Francis Light of the British East India Company in 1786. Founded as a free port, George Town became the first British settlement in Southeast Asia and prospered in the 19th century as one of the vital British entrepôts within the region. It briefly became the capital of the Straits Settlements, a British crown colony which also consisted of Singapore and Malacca.