Author: Mohamed Reehaan
Maldives President Dr. Mohamed Muizzu has established the Maldives Fisheries and Ocean Resources Marketing and Promotion Limited (MFORMPL) on February 4, 2024. The new government-owned company, fully vested with 100% of the state’s stake, carries fixed liabilities, reports the President’s Office. President Dr. Muizzu set up the company per the authority granted to him under Section 15 of the Companies Act (7/2023), and the announcement was made by the President in the decree (Decree No. 03/2024). The Maldives President established the new company with the primary objective of expanding the Maldivian fishing industry, and enhancing the social benefits by promoting…
Regional Airports Company Limited (RACL) has announced the appointment of a new Executive Director to its board. RACL on Tuesday, January 30, 2024 announced the appointment its Deputy Managing Director Ibrahim Shahid as the new Executive Director of the board of directors. “Mr. Shahid brings with him a wealth of experience garnered from his previous roles in the ICT field,” RACL said in a post on X (formerly Twitter).
Ooredoo Maldives has scheduled its next Annual General Meeting for March 2024. The telecom and internet service provider also set the record date for Thursday, February 15, 2024 at 14:00hrs. The period is important for shareholders to determine their eligibility for dividends for the year 2023 and their participation rights in the AGM. Ooredoo Maldives said that shareholders registered with the company by the cut-off date can attend the AGM slated for March, cast their votes in person or by proxy, and be eligible for dividend. Additional details about the AGM, including the notice and agenda will be made available…
Maldives Ports Limited (MPL) announced the conclusion of the most recent internship program held by the corporation. Following the conclusion of the two-week program, the participants were given certification acknowledging their participation. The closing ceremony was held at Meerumaa Events Hall on Sunday, January 28, 2024. The closing ceremony was attended by the Minister of Youth Empowerment, Information and Art Ibrahim Waheed along with senior officials of MPL, including its CEO Mohamed Wajeeh Ibrahim.
The quarterly revenue for the fourth quarter of 2024 reached to a total of MVR 5.91 billion, reports Maldives Inland Revenue Authority (MIRA). According to MIRA, the quarterly revenue for Q4-2023 is a 10% increment compared to the corresponding quarter in 2022, and a 10.4% increment from initial projection. This improvement comes mainly due to major increase in revenues observed for TGST, GGST, Green Tax, Tourism Land Rent, and Airport Taxes and Fees. Additionally, the Expatriate Quota Fee commenced during 2023; which too contributed towards the revenue increment. Moreover, Tourism Land Rent for Q4-2023 and the first quarter of 2024…
Dusit Thani Maldives has been nominated in two categories for the esteemed Travel + Leisure Luxury Awards 2024. The recognition, Dusit Thani Maldives said, is testament to the resort’s commitment and dedication in providing unforgettable experiences to guests. Voting for the awards is open, and will expire on March 31, 2024. Dusit Thani Maldives has been nominated in the Maldives Resort category and the Maldives Resort Pools category at the awards. The Travel + Leisure Luxury Awards is a prestigious recognition program celebrating excellence in the luxury travel industry around the globe.
State Trading Organization (STO) reports generating a quarterly revenue of MVR 4.02 billion in final quarter of 2023. The largest state-owned enterprise (SOE) in the Maldives generated a net profit of MVR 183 million in the review quarter; which is slightly lower than the net profit of Q3-2023 registered at MVR 196 million. The operating profit on the other hand registered MVR 259 million in the review quarter, which is notably lower than the operating profit in the preceding quarter; registered at MVR 315 million. Total expenses of the company in the review quarter stood at MVR 308 million, which…
Up-and-coming local hospitality brand, Stone Hotels opens its first premium beach property in the Maldives, located in Dhiffushi. The new property boasts of 50 elegantly designed rooms and suites, and offers a unique blend of nature, culture, and comfort for visitors. Dhiffushi is located in North Male’ atoll, lying 35 minutes away by speedboat ride from Velana International Airport (VIA). The new hotel offers a variety of dining options which range from all-day dining and multi-cuisine a-la carte restaurant ‘Aanu’ to the steak and seafood grill restaurant ‘Picanha Steakhouse’ to rooftop cafe’ with infinity pool ‘Infinity Lounge’. Guests can visit…
Dhiraagu announced its collaboration with the Environmental Protection Agency (EPA) on the “Restore Rasfari” project. The initiative is a direct response to the damage caused by a ship grounding incident at the island previously; which is a key site within the Rasfari Marine Protected Area. EPA developed the “Restore Rasfari” initiative following the incident and its subsequent damages on the reef. As the initiative’s partner, Dhiraagu will provide long-term support to the reef restoration teams of EPA. Besides this, Dhiraagu has also contributed diving kits to the teams to assist in the restoration work. The Director General of EPA, Ibrahim…
Maldives Customs Service has launched the Authorized Economic Operator (AEO) program. The program, officiated by the Minister of Economic Development and Trade Mohamed Saeed is designed to enhance the supply chain security and promote trade facilitation. Customs report the program consists of three distinctive tiers, namely, Silver, Gold, and Platinum. The program is intended on providing expedited cargo clearance opportunities for compliant traders, Customs added. Additionally, 17 officers were awarded the WCO Certificate of Merit at the ceremony, for their outstanding performance and contribution towards last year’s International Customs Day. The certificates were presented to the officers by the Commercial…