The northern part of the island of Borneo was composed of three British territories: the colonies of Sarawak and North Borneo (to be renamed Sabah) and the protectorate of the Sultanate of Brunei. Brunei became a British protectorate in 1888, had an area of about and some 85,000 people. Just over half of the people were Malays, a quarter were Chinese, and the rest were Dayaks, the indigenous people of Borneo. Oil was discovered in 1929 near Seria and the Shell Petroleum Company concession provided the Sultanate with a huge income. The capital, then called Brunei Town, was on a river some from the coast.