Former parliament member of Madaveli constituency (from 2014 to 2019), Muaz Mohamed Rasheed, has been appointed as the new Managing Director of Fenaka Corporation.
Before he began his political career in prominent roles in various political parties in the Maldives, Muaz worked as a Project Officer at the then Construction and Infrastructure Ministry.
The new Fenaka Corporation honcho completed higher studies in architecture, and worked in a private capacity as an architect before venturing into politics.
During the recent presidential elections, Muaz acted as the assistant campaign manager of President Dr. Mohamed Muizzu.
Fenaka Corporation, a state-owned enterprise (SOE) is also one of the largest employer in the Maldives with a workforce of 7,300; with 2,000 out of these being temporary.
The corporation is also the SOE with the largest debt to its name.
The outgoing Managing Director Ahmed Saeed, said in his last press conference in his official capacity, that the corporation has a debt of MVR 1.9 billion.