Singapore was founded as a British trading colony. The official founder of this wondrous city is Sir Stamford Raffles, agent of the British East India Company, who explored this territory in 1819. In 1826 Singapore Penang and Malacca were combined to form an outlying residency of the British East India Company. Later it became independent from the Malaysian Federation. The island was an important asset for trading. So, thanks to its geographical position Singapore became one of the world's most prosperous countries. The Japanese captured the island in February 1942 and it remained under their control until September 1945 when it was again recaptured by the British. In 1959 Singapore became self-governing and four year later it joined the newly independent Federation of Malaya Sabah and Sarawak. Singapore was separated from Malaysia on August 9, 1965 and became an independent republic.