GOLD 100 | Leading Companies of Maldives 2018

L e a d i n g

C o m p a n i e s 2 0 1 8

o f

M a l d i v e s

DO THE NEW Connectivity Managed Services

Solutions

Innovation is defined by your ability to do the new every day. Ooredoo Business helps you explore new ways to innovate in the digital world & unleash limitless opportunities of new connected economies. Our thoughtful products and ICT solutions help you seamlessly navigate the highly competitive environment giving you that extra edge. Thus, enabling you to create something new.

ooredoo.mv

Copyright c 2018 Maldives Getaways Pvt. Ltd. All rights reserved throughout the world.

Reproduction in any manner is prohibited.

Opinions expressed in the articles are of the authors and do not necessarily reflect those of the editor or publishers. While the editors do their utmost to verify information published they do not accept responsibility for its absolute accuracy. Materials in this publication may not be reproduced, whether in part or in whole, without the consent of Maldives Getaways Pvt. Ltd.

Maldives Getaways Pvt. Ltd. Ma. Oliveena, 4th Floor, Chaandhanee Magu Male’, Maldives

AKHMEEM ABDUL RAZZAQ

M7 PRINT

Managing Director

Printing Partner

DR. HUSSAIN SUNNY UMAR Chief Executive Officer Contributing Writers

MOOTHI Chief Operating Officer

NASHAATH

COSMOS INVESTMENT ADVISORS MALDIVES ASSOCIATION OF FINANCE INDUSTRY

Creative Director

IBRAHIM AREEF T: (960) 301-1720

Director

WWW.CORPORATE.MV Website

MOHAMED KHOORSHEED Director

LUJAINLAH ZUHAIR Photography - Dynamyst Design Direction - Creative Tuna

ZAYANA AHMED ZEINA SHAREEF HAMDHOON W. ABDULLA RAIHAN Marketing & Public Relations

FATHMATH MAISAAN ALI SAGEEF IBRAHIM HAWWA SANA RASHAD AHMED NASIR

PRODUCED & PUBLISHED BY

ENDORSING PARTNERS

Publisher’s Note A warm welcome to the third edition of Corporate Maldives’ Gold 100 magazine, the annual listing of the 100 leading business entities of Maldives. The “Gold 100 Gala Night 2018” was an unbridled success and the positive feedback from event partners, participants and winners of the previous two years of Gold 100 only strengthened our resolve to make our third event, held at the beautiful Paradise Island Resort and Spa this time, an even more prominent event than before.

As you are no doubt aware, Gold 100 is the first and most prestigious business award in the Maldives. The winning companies are listed in alphabetical order, categorized by the industry irrespective of any sort of ranking. The eligibility criteria ranges from the number of years in operation, scale of operations, successful innovations introduced to the respective industry, and creative CSR efforts - all within the confines of the Maldivian law. After thorough examination and stringent perusal, only the companies at the top are deemed eligible to be part of the prestigious list.

Just as with the previous two editions of Gold 100, in addition to awarding the winners, Corporate Maldives also recognizes two visionary business leaders with the Lifetime Achievement Award. The winners of this year’s distinguished awards were Mr. Qasim Ibrahim, Chairman and founder of Villa Group; and Mr. Abdulla Ali, co-founder and Chief Executive Officer of A.A.A and Trading Company.

As two pioneers of the hospitality and business industry, both gentlemen are living legends of the industry and role models for many young entrepreneurs and businesspersons in Maldives.

We would like to take this opportunity to thank everyone who contributed with their time and effort to make the third edition of Gold 100 a reality, and we salute and appreciate the faithful support our partners have placed upon us to make this event a memorable one. It is our aspiration that all businesses in Maldives find inspiration to elevate themselves to even greater heights and create innovative solutions for the challenges they face in the coming years. We wish to see an even more diverse collection of companies in the next Gold 100.

Thank you.

RAS ERP

R AS E R P i s a c l o ud - b a se d E R P sui t a b l e f o r s m a l l a n d m e d i u m b u s i ne s se s . I t c o m e s w i t h a f u l l y f e a t u r e d H R m o d u l e, A c c o unt i ng , E - Co m m e r c e , T r a n s po r t , P O S & I n v e n to r y M a na g e m e nt . R A S E R P i s de ve l o pe d i n t h e M a l d i v es b y L a ni a k e a T e c h.

RAS ERP PRODUCTS

RAS HRMS

RAS POS

RAS BUTLER

RAS ECOMMERCE

RAS TRANSPORT

RAS LOGIST IC

ra s e rp . mv | m a r ke t i n g @ r a se r p . m v

S

Contents

03

44

NOTE BY PUBLISHER

LIFETIME ACHIEVEMENTS

07

52

INVESTING IN THE MALDIVES

GOLD 100 COMPANIES

11

Country Overview

25

Tax & Legal Considerations

MALDIVES’ NO. 1 BANK IS PROUD TO SUPPORT YOU • • • •

Largest networks of branches, ATMs and POS Terminals Biggest lender to businesses and individuals Full suite of digital banking services Largest employer in the Financial sector

For more information on our products and services, please contact your Relationship Manager (RM) or our Corporate Banking Division: Tel: +960 330 0550, Email: corporatebanking@bml.com.mv

Country Introduction 12

Overview

14

Maldivian Economy in 2018

18

Legal & Regulatory Framework

20

Financial Sector of the Maldives

Tax & Legal Considerations

TAXATION 32

Business Profit Tax

33

Permanent Establishment

34

Residency Green Tax Bank Profit Tax

35

Withholding Tax

36

Special Economic Zones Remittance Tax Goods and Services Tax

37

Registering for GST

38

Double Taxatation Avoidance Agreements Tax Administration

ESTABLISHMENT OF BUSINESS

ADDITIONAL LEGAL CONSIDERATIONS

27

Introduction

28

Companies

39

Contract Law

Sole Proprietorship

40

Employment

29

Partnership

41

Import

30

Foreign Investments

31

Foreign Ownership of Land

Qsuite.

First in Business Redefine your expectations with a new level of luxury in our award-winning Business Class, as recognised by the 2018 Skytrax World Airline Awards. Enjoy the privacy of your own personal suite, or work, dine, and share your journey with friends and family in our fully adaptable quad-seating configuration. With over 4,000 in-flight entertainment options, our world-class service, and a rapidly expanding network, discover Business Class like never before.

Experience Qsuite, now flying from Maldives.

qatarairways.com/mv

Call 3334777

01 02

COUNTRY INTRODUCTION

Contributed by

MALDIVES ASSOCIATION OF FINANCE INDUSTRY & COSMOS INVESTMENT ADVISORS

Corporate Maldives GOLD 100

Overview The Republic of Maldives - an archipelago comprised of over 1,200 islands branched into 20 naturally forming atolls - is situated in the Indian Ocean. It lies southwest of India and Sri Lanka and the capital city of Maldives is Male’, located in Kaafu Atoll.

The main growth sector of the Maldives economy is the tourism industry and, agriculture and fisheries industries are secondary contributors. Public policy initiatives set by the government and current legislation encourage foreign actors to invest particularly in the tourism industry and infrastructure projects.

Dhivehi is the official language of Maldives but English is widely spoken and used in business.

Country Introduction Overview

13

Photography by: Dynamyst

Corporate Maldives GOLD 100

Maldivian Economy in 2018 The Maldivian economy fared well in 2018, with real GDP growth rate higher compared to 2017. Real GDP growth rate for 2017 stood at 6.9% while the figure for 2018 is 7.6%. Continued growth in the tourism sector coupled with expenditure in the construction sector has positively contributed for the growth of the economy. The tourism sector, which is the single largest contributor to GDP, continued to perform robustly as indicated by the remarkable tourist arrival growth of 7% recorded for the period. As experienced in 2017, Chinese market saw a significant decline, which was offset by the increase in

Country Introduction Maldivian Economy in 2018

arrivals from Europe, especially Russia and Italy. Arrivals from other key markets such as United Kingdom and the growth in arrivals from emerging markets such as Spain and France have contributed to the boost in arrivals.

7% tourist arrival growth recorded

Tourist bed-nights also saw a growth of 10% compared to 9% in 2017, reflecting the growth in arrivals and the increase in the average duration of stay of tourists. Total number of registered establishments have increased to 751 in 2018, increasing the total bed capacity by 13%. This has, along with the increase in average duration of stay increased the average occupancy.

Large public infrastructure projects coupled with numerous large private sector projects has boosted the construction sector of the country. Commercial bank credit to the sector has seen a significant increase, mainly due to new residential housing projects, new resort developments and residential real estate developments.

Fisheries sector which provides the livelihood of many living in the islands showed weak developments as indicated by

While fishing related manufacturing activity has declined, production of canned tuna has shown a considerable growth.

a timid growth in fish purchases—the key indicator used to gauge the performance of the activity. Fish purchases by the processing companies – a key indicator to gauge the sector performance – has shown a drop compared to 2017.

While fishing related manufacturing activity has declined, production of canned tuna has shown a considerable growth.

Even though increase in rent had a negative impact on inflation, similar to the previous year inflation was contained reasonably well even in 2018. While the increase in oil prices have had an unfavorable impact on prices globally, it did not have much effect on the inflation domestically.

This was mainly due to the government’s decision to reduce electricity and water tariffs in the atolls, exerting a

Similar to the previous year inflation was contained reasonably well even in 2018

15

Corporate Maldives GOLD 100

Government figures show an increase in total revenue, mainly due to an increase in tax revenues even though there was a decline in nontax revenues.

downward pressure on the overall inflation.

Turning to the overall public finance situation of the country, government figures show an increase in total revenue, mainly due to an increase in tax revenues even though there was a decline in non-tax revenues. The government has made attempts to reduce its capital expenditure. However, this was offset by an increase in current expenditure. A significant increase in subsidies coupled with an increase in the state wage bill have resulted in an increase in current expenditure.

The primary source of domestic borrowing has been the

30%

issuance of securities, namely treasury bills and treasury

Growth in exports (domestic and re-exports) in annual terms in Q3

bonds. The outstanding stock of government securities

bonds. At the end of Q3 treasury bills accounted for 61% of the total securities while the rest were treasury have decreased. Treasury bill investments by commercial banks have increased while there has been a decline in investments in treasury bills by other financial institutions.

As for the banking sector, it remained strong with key prudential indicators well above the minimum requirements.

At the end of Q3 the interest rates on both local and foreign currency demand deposits registered an annual decline while rates on both local and foreign currency time deposits (maturity of six months to one year) increased during the period. Over the same period interest rate on local currency dominated saving deposits saw a decline while foreign currency saving deposits increased.

Exports (domestic and re-exports) grew by 30% in annual terms in Q3. There was a jump in re-exports mainly being the result of a raise in global oil prices, increasing the revenue from jet fuel sold at international airports.

However, domestic exports declined due to a fall in the

Country Introduction Maldivian Economy in 2018

exports of fish. A fall in fish exports can be attributed to a decline in fish prices in the international market and also a drop in the volume of fish exported.

Total merchandise imports saw a jump due to increases in all major categories. Construction-related items and petroleum products formed the major chunk of the increase. Increased oil prices globally has seen a sharp increase in expenditure on petroleum products.

Wholesale and retail sector growth in general was also observed to be strong as indicated by increased lending and imports to the commerce sector.

At the end of Q3 The Gross International Reserve (GIR7) stood at US$637.1 million, an annual growth of 23% when compared with the corresponding quarter of 2017. The growth in GIR reflected a rise in commercial banks’ foreign currency deposits held at the MMA. Meanwhile, the GIR declined by 18% when compared with Q2-2018.

Looking ahead, the overall outlook for the Maldivian economy is expected to be healthy in 2018. With the opening of more properties, coupled with the positive trend in the duration of stay of tourists, the sector is expected to perform even better. The boom in the construction sector is expected to continue as several major new resort and real estate projects are still underway. Fiscal deficit is expected to be managed adequately with the expected increase in government revenue and the attempts to reduce current expenditure. Monetary policy is set to remain accommodative to stimulate private sector credit and foster economic growth. Even though increased global oil prices are expected to have an unfavorable impact on the current account balance, a positive prospect in the tourism sector is expected to help maintain GIR at an adequate level.

At the end of Q3 The Gross International Reserve (GIR7) stood at US$637.1 million, an annual growth of 23% when compared with the corresponding quarter of 2017.

17

Corporate Maldives GOLD 100

Legal & Regulatory Framework The Maldives follows a common law system with the Maldivian Courts given discretion to apply the law in accordance with existing legislation by using common law precedents and, sources of Islamic law (Shari’a). Laws that govern commercial enterprises and undertakings are generally covered in the following sources of law:

The Constitution of Maldives

The laws enacted by Parliament

The Regulations published under existing laws

Guidelines and rules issued by government ministries and institutions

Country Introduction Legal & Regulatory Framework

The Maldives has a presidential system whereby the President is elected by popular vote for a period of five years and may sit for a maximum of two terms. The members of parliament, contains a total of 85 members elected by popular vote every five years.

Laws are passed by Parliament and thereafter assented by the President of the Republic of Maldives. After laws have taken effect, subsidiary legislation, or guidelines may be published, from time to time, by Government authorities and the respective line ministries charged with implementation of relevant laws.

The Maldives has an adversarial court system. In civil matters both the plaintiff and the defendant are allowed to present their case with supporting evidence and arguments to prove their claim. Once the court has ruled on the matter, the impugning party may further dispute it with an appellate court. The Maldives does not have separate Mercantile Courts for commercial disputes and therefore, most major commercial disputes will have their original jurisdiction in the Civil Court or as established in accordance with the Judicature Act. However, a separate administrative tribunal – the Tax Appeal Tribunal – was created in 2010 as a first instance tribunal for all tax related disputes. Furthermore, the Arbitration Act of Maldives recognizes Arbitration as a form of alternate dispute resolution

Laws are passed by Parliament and thereafter assented by the President of the Republic of Maldives.

19

Corporate Maldives GOLD 100

Financial Sector of the Maldives The financial sector of the Maldives comprises of commercial banks and non-bank financial institutions.

The Maldives Monetary Authority and the Capital Market Development Authority are the regulators of the financial sector of the country.

The non-bank financial institutions include insurance companies, a finance leasing company, a housing finance company, money remittance companies and payment service providers, the pension fund and companies operating in the capital market.

The Maldives Monetary Authority and the Capital Market Development Authority are the regulators of the financial

RfRf RfRfRf Rf Rf RRf fRf RfRfRf RfRf RfRfRfRf Rf Rf

sector of the country. The CMDA is responsible for regulating and developing the securities market and the pension fund, while all the other financial institutions and service providers are licensed, supervised and regulated

Rf

by the MMA.

Country Introduction Finacial Sector of the Maldives

MALDIVES MONETARY AUTHORITY The Maldives Monetary Authority is the central bank of the Maldives and the main regulator of the financial sector.

It was established on 1st July 1981, under the mandate

The key functions of the MMA are as outlined below:

provided by the MMA Act (1981)

MONETARY POLICY The

MMA

is

responsible

for

the

formulation

and

implementation of monetary policy in the Maldives. Under

01

Issue and regulate the availability of the Maldivian rufiyaa

02

License, supervise and regulate the financial sector

03

Maintain price stability

04

Advise the government on banking and monetary matters

the MMA Act (1981), the main objective of monetary policy is to achieve price stability and to maintain an adequate level of foreign exchange reserves. Under the current monetary policy framework, the MMA uses a fixed exchange rate system with the US dollar as an intermediate target to achieve its policy objective, and in turn intervenes in the foreign exchange market to keep the exchange rate pegged within a stipulated band.

The main monetary policy instruments of the MMA are the minimum reserve requirement, open market operations, foreign currency swaps and the standing facilities: the overnight deposit facility and the overnight lombard facility.

All monetary policy decisions are made by the Board of Directors of the MMA after reviewing the macroeconomic conditions and recommendations made by the Monetary Policy Committee of the Authority.

21

Corporate Maldives GOLD 100

CAPITAL MARKET DEVELOPMENT AUTHORITY The capital market regulatory framework in the Maldives allows for issuance of equity securities, both conventional and Islamic, debt securities and Sukuk.

The CMDA was established under the Maldives Securities Act in 2006 as the securities market regulator. The capital market regulatory framework in the Maldives allows for issuance of equity securities, both conventional and Islamic, debt securities and Sukuk. Most companies are listed with equity securities on the Maldives Stock Exchange, and the corporate debt market is mostly untapped with just one company listed with debt securities and one with Sukuk.

A total of nine companies are listed on the Maldives Stock

All listed companies are mandated to comply with the corporate governance code which was introduced in 2008, and is also open for voluntary adoption by private companies.

Exchange as of date. All listed companies are mandated to comply with the corporate governance code which was introduced in 2008, and is also open for voluntary adoption by private companies.

As the Maldives continues its membership with the International

Organisation

of

Securities

Commission

(IOSCO), the international standard setting body for the securities market worldwide, the CMDA complies with the IOSCO standards and international best practices to strengthen the regulatory framework of the Maldives capital market.

The Islamic finance industry in the Maldives is evolving at a steady pace, and the capital market development master plan also focuses on promoting issuance of Sukuk. The pension fund, the Hajj fund, AyadiTakaful, AmanaTakaful Maldives, BML Islamic, Maldives Islamic Bank, and HDFC Amna are the major institutional investors in the Islamic finance industry.

Country Introduction Capital Market Development Authority

The capital market of the Maldives made remarkable improvements over the recent years. In addition to attracting new issuers, especially during the past year, the issuance of the investment fund regulation in 2016 has broadened the attractive foreign investment opportunities in the Maldives.

Furthermore, as a result of the scattered nature of the Maldivian population and to seize the opportunity from the widespread cellular internet connectivity in the Maldives, the Maldives Securities Depository Company launched an online platform called “Infinity� in 2017, which facilitates investors to submit their subscription applications online.

The Islamic finance industry in the Maldives is evolving at a steady pace, and the capital market development master plan also focuses on promoting issuance of Sukuk.

23

02 02

TAX & LEGAL CONSIDERATIONS

Contributed by

COSMOS INVESTMENT ADVISORS

www.cosmosinvestmentadvisors.com

Tax & Legal Considerations Establishment of Business

Establishment of Business INTRODUCTION

The primary state agency responsible for registering businesses in the Maldives is the Ministry of Economic Development. While there are several types of business structures to choose from based on the specific needs and circumstances of the business, all business entities are required to register themselves with the Ministry and obtain the necessary additional permits or licenses, if any, from the relevant government agency. Registration of businesses in the Maldives is a fairly speedy and straight forward process. This section highlights some general information on the most common business structures followed by specific rules for foreign parties interested in doing business in the Maldives.

27

Corporate Maldives GOLD 100

COMPANIES Private limited companies can be formed by a minimum of two shareholders.

Private limited companies can be formed by a minimum of two shareholders. Articles of Association and Memorandum of Association are the two key necessary documents, detailing the objectives and the governing rules. Private companies are prohibited from selling its shares to the public.

Private companies are required to pay an annual fee of MVR 2,000 (USD 130).

At the time of registration, a fixed fee of MVR 500 and a nominal registration fee based on the authorized capital is payable in addition to the annual fee for the current year.

Private companies are required to pay an annual fee of MVR 2,000 (USD 130). At the time of registration, a fixed fee of MVR 500 and a nominal registration fee based on the authorized capital is payable in addition to the annual fee for the current year.

Maldivian law also allows for the formation of public companies or conversion of existing private companies into public companies, if they wish to trade shares to the public. The annual fee of a public company is MVR 10,000 (USD 648).

SOLE PROPRIETORSHIP Sole Proprietorships are registered under the name of individual Maldivians. This business structure is applicable to small and micro businesses as well as individuals doing business without introducing any more partners.

Tax & Legal Considerations Establishment of Business

PARTNERSHIP Registration of partnership requires a written agreement, made in accordance with the Partnership Act, between the partners. The partnership agreement acts as the core of the arrangement among the partners, inscribing their rights, obligations as well as procedures for resolution of disputes.

There are two distinct types of partnerships – general partnerships and limited liability partnerships. General partnerships entail unlimited liability upon the partners while limited liability partnerships cap the liability of the partners up to their capital contribution. A general partnership may convert itself to a limited liability partnership and vice versa in accordance with the rules.

The partnership agreement acts as the core of the arrangement among the partners, inscribing their rights, obligations as well as procedures for resolution of disputes.

29

Corporate Maldives GOLD 100

FOREIGN INVESTMENTS Any foreign party interested in doing business in the Maldives must first seek a foreign investment approval from the Ministry of Economic Development.

Any foreign party interested in doing business in the Maldives must first seek a foreign investment approval from the Ministry of Economic Development. A fee of USD 2,000 is applicable for the process. Some sectors such as retail trade are excluded from the scope of foreign investment and hence the approval of the application is subject to fulfilment of foreign investment guidelines set by the Ministry.

Once the application is approved, any appropriate legal business structure can be chosen for registering the business with the Ministry. Investors also have the option of re-registering an existing foreign entity in the Maldives.

However, registration of sole proprietorships are only allowed for Maldivians.

Subsequent

to

the

business

registration,

necessary

licenses, permits and approvals relevant to the specific business

must

be

obtained

from

the

appropriate

government agency prior to commencement of business operations.

Tax & Legal Considerations Establishment of Business

FOREIGN OWNERSHIP OF LAND

The Constitution of the Maldives generally prohibits the foreign ownership of land within the territorial boundary of Maldives.

Foreign ownership of land is generally prohibited and restricted under the Maldivian constitution and laws. Where foreign investments are involved, land is normally leased up to a period of 99 years. An amendment brought to the constitution in 2015 with the aim of boosting investments allows investors to buy land within a specified territory if they invest more than US$ 1 billion on a project in that territory. The amendment also requires that at least 70% of the area must be reclaimed land.

31

Corporate Maldives GOLD 100

Taxation BUSINESS PROFIT TAX (BPT) All businesses in the Maldives are required to register with the Maldives Inland Revenue Authority (MIRA) for Business Profit Tax (BPT). The registration form is submitted to the Ministry of Economic Development along with the business registration application.

Therefore, a separate application to register with MIRA is not required.

BPT Registration is a general requirement for all businesses irrespective of size and the sector they are active in. Where the taxable profit of a Person exceeds the tax-free threshold of MVR 500,000 (approx. USD 32,425) per year, BPT is payable at 15% on the amount exceeding the tax-free threshold.

Tax & Legal Considerations Taxation

PERMANENT ESTABLISHMENT Where a business is carried out in the Maldives through a place of management of business,

01

Carry on supervisory activities in connection with a building or work site or a construction, installation assembly project

02

Have another person acting on their behalf in the Maldives who:

branch, office, factory, warehouse, workshop, farm or plantation, place of extraction of natural resources, building or work site or any other fixed place in the Maldives, such location is considered as a permanent establishment (PE) and profits earned from the place is subject to BPT. A business is also deemed to have a PE in the Maldives if they:

i. Has and habitually exercises an authority to conclude contracts ii. Maintains a stock of goods or merchandise for the purpose of delivery on their behalf iii. Habitually secures orders wholly for them or for any other enterprise controlled by them

33

Corporate Maldives GOLD 100

RESIDENCY A company is resident in the Maldives for tax purposes if it is incorporated in the Maldives or if its central management and control is located in the Maldives (even though it is incorporated outside the Maldives).

Guest houses are required to charge USD 3 per head per day while all other tourist establishments are required to charge USD 6 per head per day.

GREEN TAX Green Tax is levied on tourists who stay in tourist resorts, tourist hotels, guest houses and tourist vessels. Guest houses are required to charge USD 3 per head per day while all other tourist establishments are required to charge USD 6 per head per day. Maldivians and resident permit holders are not required to pay Green Tax.

All banks operating in the Maldives, with their head office in the Maldives or as branches of foreign banks, are required to pay 25% of their net profit as Bank Profit Tax.

BANK PROFIT TAX All banks operating in the Maldives, with their head office in the Maldives or as branches of foreign banks, are required to pay 25% of their net profit as Bank Profit Tax. They are therefore exempt from BPT.

Tax & Legal Considerations Taxation

WITHHOLDING TAX (WHT) WHT is imposed at 10% on payments made to a nonresident by a Maldivian business.

Rent, royalties and any other such consideration for the use of plant, machinery, equipment or other property for the purposes of a business Payments made for carrying out research and development; Payments made for the use of computer software Payment of fees for management, personal or technical services and any other commission or fee not constituting income from any employment

Payments made in respect of performances by public entertainers Rent in respect of the viewing in Maldives of cinematographic films (whatever the format of the film).

35

Corporate Maldives GOLD 100

SPECIAL ECONOMIC ZONES (SEZ) Foreign investors are offered a wide range of tax concessions under the Special Economic Zones (SEZ) Act. The tax incentives depend on the status of the applicant and the nature of the investment and include full exemption from certain taxes and reliefs from others. Furthermore, they are immune to any new taxes or increases in taxes

1 2%

which could adversely affect the incentives.

is the tax rate on the goods and services provided by businesses operating in the tourism sector

REMITTANCE TAX Money transferred out of the Maldives by foreigners employed in the Maldives is subject to a tax of 3% of the amount remitted. The tax is collected by banks and remittance agencies at the time of remittance of money.

6% is the tax rate applicable to all other businesses

GOODS AND SERVICES TAX (GST) GST is a tax collected by entities carrying out taxable activities from their customers. The tax rate on the goods and services provided by businesses operating in the tourism sector is 12% while the rate applicable to all other businesses is 6%. Certain basic consumables are zero rated while certain other goods and services are exempted from GST.

Tax & Legal Considerations Taxation

37

REGISTERING FOR GST Businesses are required to register for GST if they meet any of the below criteria:

01 02

Providing goods and services in the tourism sector

Holding an import license

03

Total value of goods and services supplied in the past 12 months exceeds MVR 1 million

04

Total value of goods and services supplied in the next 12 months is expected to exceed 1 million

Corporate Maldives GOLD 100

DOUBLE TAXATION AVOIDANCE AGREEMENTS The Maldives has a Double Taxation Avoidance Agreement with India which covers avoidance of double taxation of income derived from international air transport between the countries. A DTA signed with the United Arab Emirates in 2017 is also in force now. Furthermore, Maldives is also a party to the SAARC Limited Multilateral Agreement On Avoidance of Double Taxation and Mutual Administrative Assistance in Tax Matters

TAX ADMINISTRATION As the statutory body responsible for administering taxation laws, Maldives Inland Revenue Authority (MIRA) has the power to conduct audits and make an assessment of the tax liability where they believe it is incorrect.

Maldives follows a voluntary self-assessment system where the taxpayers are responsible for compliance with the tax obligations. As the statutory body responsible for administering taxation laws, Maldives Inland Revenue Authority (MIRA) has the power to conduct audits and make an assessment of the tax liability where they believe it is incorrect. If the taxpayer disagrees with an assessment by MIRA, a formal objection can be made requesting for an administrative review. Where the taxpayer still finds the outcome of the objection unsatisfactory, the decision can be contended at the Tax Appeal Tribunal and Appellate Courts.

MIRA has over the years improved their online services, making tax compliance easier. Furthermore, online tax filing and payments has now been made mandatory for all medium and large businesses.

Tax & Legal Considerations Additional Legal Considerations

Additional Legal Considerations CONTRACT LAW Maldives Contract Act is the key piece of legislation in matters concerning contract disputes. The Maldivian Courts generally recognizes and accepts common law decisions and judicial interpretations relating to matters that are unclear in the Act or matters relating to pecuniary damages, punitive damages and other direct and indirect damages that may arise from breach of contract.

39

Corporate Maldives GOLD 100

EMPLOYMENT

The Employment Tribunal, an independent body formed under the Act, deals with all employment related disputes.

Maldives Employment Act governs state and private sector employment relationships (excludes employment matters of the Police and Armed Forces). The Employment Tribunal, an independent body formed under the Act, deals with all employment related disputes. Even though there are no formal nation-wide labour unions in the country, there are non-governmental organizations working across different sectors, representing the interested of employees. The Maldives is a member of the International Labour Organization and is party to a number of conventions which are in force.

Photography by: Rasheed Carpentry & Construction

Tax & Legal Considerations Additional Legal Considerations

41

IMPORT Maldives is heavily dependent on imports. An import license is required from the Ministry of Economic Development for importing goods into the Maldives for business. There are specific rules that apply while importing items for personal or business use. While some items such as narcotics are prohibited, restrictions apply on the import of other items such as liquor, alcoholic products, medicine, pets as well as communication equipment. Tariff reliefs are available for items imported via some government designated international ports in the atolls.

Restrictions apply on the import of items such as liquor, alcoholic products, medicine, pets as well as communication equipment.

About Cosmos Investment Advisors

About Cosmos Investment Advisors Cosmos Investment Advisors are based in the Maldives and offer a broad range of solutions to our customers through our wide spectrum of advisory services. We focus on the specific needs of our clientele and are committed to customize our solutions based on their requirements.

We are a registered investment advisory firm serving individuals and businesses in the areas of comprehensive financial and investment planning, forecasting, financial feasibility, business continuation planning, and other financial services.

Website: www.cosmosinvestmentadvisors.com Email: info@cosmosinvestmentadvisors.com

42

MALDIVES INVESTMENT OPPORTUNITIES GUIDE 2019 Get Listed Now

Corporate Maldives GOLD 100

MR. QASIM IBRAHIM Founder and Chairman of Villa Group

Lifetime Achievement

Lifetime Achievement

Mr. Qasim Ibrahim started working to earn a living at a very young age. One of his earliest memories is moving to Male’ and taking up the job of a clerk and later an accountant at the government hospital. From such humble beginnings he has worked his way up to become the founder of the largest conglomerate company Maldives has ever seen, Villa Shipping and Trading Company Pvt. Ltd. Today, Ibrahim is the chairman, and largest shareholder of Villa Group, and often named as one of the wealthiest and successful businessmen in the country.

During his lengthy business career which spans the majority of his life, he has explored multiple sectors such as trading, tourism, aviation, and education, just to name a few. A well-loved and respected philanthropist, he has funded the education and healthcare of countless people, personally and through Villa Foundation. He has served his country as an MP, Minister of Home Affairs, Governor of the Central Bank of Maldives, Minister of Finance, and was a Board member at Bank of Maldives, and Maldives Ports Authority. He also served as the Vice-President of the Maldives Association of Tourism Industry (MATI) and the President of the Maldives National Chamber of Commerce and Industry (MNCCI). In acknowledgement of the innumerable ways he has contributed to the success of the industry and the country, Gold 100 is recognizing his services by awarding him the prestigious Gold 100 Lifetime Achievement Award this year.

45

Corporate Maldives GOLD 100

Lifetime Achievement

Born in Addu City Feydhoo, Mr Abdulla Ali is soft-spoken and mildmannered, but is still considered among the most industrious businessmen in the Maldives. One of the pioneers of the tourism industry, he has developed many properties under his direct supervision and has an impressive portfolio of having worked in a wide array of industries such as tourism, trading, textiles, and exporting. He began his career as a humble storeowner in Male’ and has worked his way up, acquiring multiple resorts and land plots in Male’, to become the industry legend that he is now. He has asserted that the secret of his success is that he prioritizes his career and company over anything else. This year, Gold 100 honors Mr Abdulla Ali with the Gold 100 Lifetime Achievement Award for the invaluable service to the industry and the country.

Lifetime Achievement

MR. ABDULLA ALI Chairman of A.A.A and Trading Company Pvt Ltd

47

20 20

I n d i a n O c ea n B u s i n ess F esti va l

www.indianoceanbusinessfestival.com

VIDEO PRODUCTION PHOTOGRAPHY AERIAL CINEMATOGRAPHY

Corporate Maldives GOLD 100

Gold 100 Companies A.A.A AND TRADING COMPANY

CROWN AND CHAMPA RESORTS

ABC CONSTRUCTION

D BLUE

ADAARAN RESORTS

DAMAS COMPANY

ADK GROUP OF COMPANIES

DHIVEHI RAAJJEYGE GULHUN

AH BROTHERS

DHIVEHI VIUGA

AL SHAALI MARINE MALDIVES

DIETHELM TRAVEL THE MALDIVES

ALLIED INSURANCE

ENSIS FISHERIES

AMANA TAKAFUL

EURO GLOBAL MALDIVES

AMIN CONSTRUCTION

FALIM GROUP

ANTRAC HOLDING

FOCUS COMPUTERS

APOLLO HOLDINGS

FUEL EXPRESS MALDIVES

ASIA FORWARDING

FUEL SUPPLIES MALDIVES

ASK HOLDINGS

GOLD COIN INTERNATIONAL

ASTERS

HABIB BANK

ATOLL MARKET

HANDY HOLDINGS

AVIA MALDIVES

HAPPY MARKET

BANK OF MALDIVES

HASSAN MARINE

BISON MALDIVES

ENGINEERING SOLUTIONS

BRIGHT BROTHERS

HOTELS AND RESORTS

CANOPUS MALDIVES

CONSTRUCTION

CAPITAL TRAVEL AND TOURS

HOUSING DEVELOPMENT

CENTURION TRANSPORT SOLUTIONS

CORPORATION

CEYLINCO INSURANCE COMPANY

HOUSING DEVELOPMENT

CHANDELIER COMPANY

FINANCE CORPORATION

CITY INVESTMENTS

ILAA MALDIVES

CO-LOAD (MALDIVES)

INTOUR MALDIVES

COPIER PLUS

ISLAND AVIATION

Gold 100 Companies

ISLANDERS EDUCATION

PESTEX MALDIVES

JAAH

RAINBOW ALUMINIUM

KAIMOO TRAVELS & HOTEL SERVICES

RASHEED CARPENTRY &

LEO TRADING

CONSTRUCTION

LIFE SUPPORT

REDWAVE

LILY INTERNATIONAL

RIYAN

LINK SERVE

SEAGULL GROUP

M7 PRINT

SHEESHA

MALDIVE GAS

SILVER SANDS

MALDIVES AIRPORTS COMPANY

SIRIUS ENTERPRISES

MALDIVES FINANCE LEASING COMPANY

SONEE HARDWARE

MALDIVES INDUSTRIAL FISHERIES

STATE TRADING ORGANIZATION

COMPANY

STATIC COMPANY

MALDIVES INFLIGHT CATERING

SUN FRONT

MALDIVES ISLAMIC BANK

SUN SIYAM

MALDIVES PORTS LIMITED

SUNWILL

MALDIVES TRANSPORT AND

SYMPHONY MALDIVES

CONTRACTING COMPANY

TEP CONSTRUCTION

MALE AERATED WATER COMPANY

THE HAWKS

MALE’ WATER AND SEWERAGE COMPANY

TRANS MALDIVIAN AIRWAYS

MAXCOM TECHNOLOGIES

TTS GROUP MALDIVES

MEDIANET

UNIVERSAL ENTERPRISES

MEGACHIP ELECTRONICS

VAM & COMPANY

MUNI GROUP OF COMPANIES

VB BROTHERS

NALAHIYA TRADING

VILLA SHIPPING AND TRADING

NOVELTY PRINTERS AND PUBLISHERS

COMPANY

OOREDOO MALDIVES

VOYAGES MALDIVES

53

A.A.A and Trading Company CEO / MANAGING DIRECTOR

Abdulla Ali

YEAR STARTED

2007

EMPLOYMENT

1000+

INDUSTRY

Trading and Hospitality

OWNERSHIP

Private Ownership

SUBSIDIARES

AAA Hotels & Resorts, VA Pvt Ltd

AAA Trading Company is a leader in import & wholesale trade in the Maldives. After the company’s formation it has expanded its horizon into a number of industries. AAA Hotels & Resorts has been working as a top A.A.A AND TRADING COMPANY PVT LTD +960 331 7373 sales@aaa.com.mv www.aaaresorts.com.mv

hotelier in the Maldives for over two decades since its establishment in 1983 and is a subsidiary company of A.A.A and Trading Company.

AAA Hotels has four resorts under its umbrella; Bathala Island Resort, Filitheyo Island Resort, Medhufushi Island Resort and Hondaafushi Island Resort. VA Pvt Ltd is another subsidiary company of A.A.A and Trading Company and is a recognized resort supplier for consumer and electrical hardware items.

PRODUCTS & SERVICES: With time and experience the company has created an assortment of resorts that retains the Maldivian outlook and simplicities while providing modern facilities and excellent services that make our resorts the ideal location for a barefoot luxury holiday. We currently work with a number of tour operators from all over the world. We are hoping to broaden our horizon and to introduce our properties to new and emerging markets.

ABC Construction MANAGING DIRECTOR

Ahmed Waheed

YEAR STARTED

2009

EMPLOYMENT

323

INDUSTRY

Construction

OWNERSHIP

Private Held

ABC Construction Company Private Limited is one of the fastest growing construction companies in Maldives. The company was formed with the aim to become the leading construction company in Maldives by providing quality service to its clients. Since its establishment in 2009, the company's client base has grown steadily over the years.

Headquartered in Male', the capital of Maldives, the company employs over 323 employees to make sure its clients are provided with the best ABC CONSTRUCTION PVT LTD +960 300 3636 md@abcconstruction.com.mv www.abcconstruction.com.mv

construction and related services the company offers. The management team of this company has at least 12 years of prior experience in their respective fields in the construction sector of Maldives, and they are fully committed to deliver quality service to the company's clients.

PRODUCTS & SERVICES: Our corporate philosophy is that all our services are delivered in a way that the client is satisfied that the projects are completed in the most cost-effective manner. At the early stages of every project, a close relationship is first established with the client to understand the client needs to deliver the service better suited for the respective client. This may include discussion with the client to understand how the building structure the client intends to use during its lifetime.

Adaaran Resorts CEO / MANAGING DIRECTOR

Susith Jayawickrama

YEAR STARTED

1997

EMPLOYMENT

995

INDUSTRY

Tourist Resorts

OWNERSHIP

Aitken Spence Plc.

Luxury boutique wellness resorts offering a perfect blend of lavishness and comfort, Adaaran Resorts in the Maldives presents unparalleled luxury with a touch of tradition. Nestled in blissful seclusion, each of our Maldives resorts offer a unique set of defining characteristics attracting guests from all over the world. Featuring plush accommodation in the lap of paradise, our efforts are focused on providing guests a holiday to be treasured. Choose the perfect Maldives resort that will best suit your holiday spent on these inviting islands, giving new meaning to an exotic ADAARAN RESORTS +960 664 0375 suresh@aitkenspence.lk www.adaaran.com

tropical getaway. Our Resorts are Adaaran Club Rannalhi, Adaaran Select Hudhuranfushi, Adaaran Select Meedhupparu, Adaaran Prestige Vadoo, Adaaran Prestige Water Villas and two upcoming Heritance Resorts as luxury products.

PRODUCTS & SERVICES: Adaaran Resorts manages and operates four island resorts in Maldives.

Adaaran Club Rannalhi - Located in South Male atoll within the exotic collection of islands known as the Maldives Adaaran Prestige Vadoo - Luxurious Maldives Island resort that stands out amongst the best.

Adaaran Select Hudhuranfushi - Set in 83 acres of lush tropical beach property and popular for surfing. Adaaran Select Meedhupparu - One of the best Maldives resorts offers blissful accommodation for the discerning traveler to the Maldives.

ADK Group of Companies CEO / MANAGING DIRECTOR

Ahmed Nashid

YEAR STARTED

1987

EMPLOYMENT

1000

INDUSTRY

Healthcare Services, Pharmaceutical Wholesale & Retail, FMCG Trade, Real Estate Development, Logistical Services, Luxury Hospitality Services.

OWNERSHIP

Private Held

SUBSIDIARIES

ADK Company Pvt Ltd, ADK Hospitals Pvt Ltd, ADK Pharmaceutical Company Pvt Ltd, ADK Trade & Shipping Pvt Ltd, ADK General Trading.

ADK GROUP OF COMPANIES +960 301 0086 nashid@adkenterprises.com www.adkhospital.mv

ADK Group’s origin lays in the opening of Mediclinic in 1987 with a single doctor. The clinic was later upgraded to be ADK Medical Centre in 1992. The ADK Hospital was the first private hospital to be opened in the Maldives in the year 1996. Over the years the ADK Group has become one of the most recognized names providing healthcare as well as suppliers for medical and pharmaceuticals in the country. Today the group, along with its subsidiary companies, are contributing in other business areas such as wholesale and retail of FMCG goods, real estate development, logistical services, leasing of earth moving machinery, as well as providing services in the luxury tourism industry.

PRODUCTS & SERVICES: Healthcare Services, sale of medical devices and equipment, retail and wholesale of multinational brands for pharmaceuticals and nutritionals, optical services and products, wholesale and retail trade for multinational FMCG goods, logistical and transport solutions within the country as well as outbound shipping for heavy cargo, salvage operations for ocean vessels, and leasing luxury vessel for tourism purposes.

AH Brothers CEO / MANAGING DIRECTOR

Hussain Hassan Manik

YEAR STARTED

1991

EMPLOYMENT

105

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

Private Held

Established in 1991, AH Brothers is a leading hardware wholesaler and retailer in the market for over 25 years. Initiated by Mr. Ali and Mr. Hussain, built on the concept "Find all your hardware in one place", we have been successful in maintaining this motive with the support of our employees and customers. Boasting a full range of hardware, electrical items, pipes and fittings, power tools & machinery, sanitaryware, paint, safety wear equipment, building materials, interior, paneling and AH BROTHERS PTE LTD +960 331 5782 +960 332 0088 info@ahb.com.mv www.ahb.com.mv

finishing solutions, AH Brothers is still proudly among the top-ranked stores in the country. We are determined in assuring our clients' value in the products and services offered.

PRODUCTS & SERVICES: We carry some of the most prominent brands in the market and are the authorized distributor of “Sheetrock” all purposes joint compound and dealers of other prevalent brands such as GREENLAND plastics, Guess sanitary ware, Colourland Paints, Kelani Cables, DNT (Water exterior compound), Usha Fan, Star brand gypsum boards. Brands such as ABB, Hager, Clipsal. PATTA, Dunlop, and Hitachi are also available in our outlets. Free delivery is offered throughout Male’.

Al Shaali Marine Maldives CEO / MANAGING DIRECTOR

Abdulla Al Shaali

YEAR STARTED

2006

EMPLOYMENT

95

INDUSTRY

Boat Manufacture and Trade

OWNERSHIP

Coastline Group (Maldives) + Al Shaali Marine (UAE)

SUBSIDIARIES

Coastline Investments Coastline Hotels & Resorts

Al Shaali Marine Maldives Pvt Ltd. (AS Marine Maldives) is a joint venture between Al Shaali Marine Dubai and Coastline Investments Pvt AL SHAALI MARINE MALDIVES PVT LTD +960 799 8590

Ltd, Maldives. The main Branch of AS Marine in UAE was established in 1979 and is considered to be the pioneer of fiberglass boats and

shareef@asmarinemaldives.com

yacht manufacturers in the Middle East. Our main branch produces a

www.asmarinemaldives.com

range from small boats, 24 footers, to mega luxury yachts up to 138 footers. Al Shaali Marine Maldives has been serving Maldives for more than a decade. Our target is to be the number one boat builders in the Maldives. To achieve this target we are introducing new products into the Maldivian boat market.

PRODUCTS & SERVICES: AS Marine Maldives manufactures a wide range of fiber vessels such as speed boats, local dhonis, and dinghies that can be customized to satisfy customers’ requirements both locally and overseas. ASMM also provides boat repairs and refurbishments of boats’ structure and systems, with wide range of boat types and brands, for providing maximum satisfaction to its customers. ASMM continues to prove itself in both local and global markets, achieving awards and certifications for its quality and standards.

Allied Insurance CEO / MANAGING DIRECTOR

Mohamed Shafaz

YEAR STARTED

1984

EMPLOYMENT

189

INDUSTRY

Financial And Insurance

OWNERSHIP

99.98% STO - 0.02% Maldive Gas

Our business is based on a commitment to providing innovative insurance solutions and a philosophy that places high value on a continuous life cycle approach to customer service. Our customers include individuals, small to medium businesses, as well as corporate and government institutions. We provide total insurance solutions and cater to specific needs ranging from simple consumer services to complex integrated business covers for local and global corporate ALLIED INSURANCE COMPANY

customers. With 99% trained and qualified Maldivian employees, we

OF THE MALDIVES PVT LTD

overcome geographic barriers and stay close to our customers through

+960 330 0033

the regional office in Addu City coupled with the nation’s largest

info@allied.mv

insurance network consisting of agents, brokers, all branches of Bank

www.allied.mv

of Maldives Plc and all the outlets of Maldives Post Limited.

PRODUCTS & SERVICES: Our Personal Insurance plans provide complete protection and security to the individual customers and their families and Life Insurance policies comes to the rescue of the families in times of need. We also provide Business Insurance that caters to every risk you may face in your business operations in the Maldives. Furthermore, in order to cater to the need of an Islamic concept of risk management, we have an Islamic window, Ayady Takaful, which provides innovative premium solutions.

Amãna Takaful Maldives CEO / MANAGING DIRECTOR

Hareez Sulaiman

YEAR STARTED

2003

EMPLOYMENT

40

INDUSTRY

Financial and Insurance

OWNERSHIP

Public Ownership

A delightful 2018 passed by swiftly before the dawn of 2019, 15 years of services be reckoned – a successful journey all the way. The humble beginning of Amana Takaful Maldives (ATM) in 2003 as the pioneers of Islamic Finance in Maldives has been the driving force behind the company striving to retain its position in the industry. The noble concept of Islamic Finance in the shape of Takaful introduced a decade and a half year ago has created a market space for Islamic insurance AMÃNA TAKAFUL (MALDIVES) PLC

in Maldives. ATM is the only fully fledged Takaful operator listed in the

+960 331 5262

Maldives Stock Exchange. As a licensed general insurance company, it

info@takaful.mv

continues to strive on growth and profitability to deliver stakeholder

www.takaful.mv

values.

PRODUCTS & SERVICES: The product range of the company covers all general classes of business with branded solutions in motor, fire (property), engineering, marine hull, medical & miscellaneous classes. The dedicated team of staff ensures customer expectations are fulfilled with tailor made products and services to suit the needs of the discerning and diverse communities it serves. As a responsible corporate citizen, ATM is actively supporting community building activities with NGO’s, schools and government institutions.

Amin Construction CEO / MANAGING DIRECTOR

Abdulla Mohamed

YEAR STARTED

1984

EMPLOYMENT

1189

INDUSTRY

Construction

OWNERSHIP

100% Local (Private Held)

Established in 1984, Amin Construction has built a strong reputation for delivering quality services, on time, and at competitive prices. Our experience and accumulated skills in all aspects of civil construction cements our position as one of the leaders in the Maldivian construction industry. At Amin Construction, we never rest upon our laurels and are passionate and driven to continue the high levels of customer satisfaction we have achieved over the past 35 years. We undertake AMIN CONSTRUCTION PVT LTD

varieties of projects for a wide range of clientele – from small private

+960 332 4369

developments to large scale developments for the Government and

projects@aminconstruction.net

Tourism industry. Our unique and flexible project management systems

www.amin.com.mv

ensure that the best outcome is achieved regardless of the size or nature of the project.

PRODUCTS & SERVICES: Amin Construction Pvt Ltd provides the following services in the construction field: building and civil construction, resort construction, value engineering and project management, building products for wholesale and retail, carpentry and metal works, aluminium & glazing works, heavy machinery rental and logistics, dredging and land reclamation, drafting and quantity surveying, marine cargo transport, bored piling and sheet piling.

Antrac Holding CEO / MANAGING DIRECTOR

Mohamed Hameed Hassan

YEAR STARTED

2003

EMPLOYMENT

200

INDUSTRY

Marine Services, Project Logistics, Real Estate, & Tourism

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Wellland Investment Pvt Ltd, Expert Motor Services Pvt Ltd, Muthaafushi Investment Pvt Ltd, Maldives Petroleum Link Pvt Ltd, Shine Home Properties Pvt Ltd, Indian Ocean Charters (Maldives) Pvt Ltd , Seal Maldives Pvt Ltd, Asia Pacific Superyatchs

ANTRAC HOLDING PVT LTD

Pvt Ltd

+960 331 0096 info@antracholding.com www.antracholding.com

Antrac Holding Pvt Ltd was established by Mohamed Hameed with 15 years of experience in the Marine and Tourism Industry. He partnered with Abdul Hannan, also an experienced individual in the Marine, Tourism and Trade Industry. The company is a leading Marine Service provider attending to the majority of the foreign trade vessels, cruise ships, luxury super/motor yachts, naval ships, research ships, survey vessels, roro and heavy lifts. The company is also in freight forwarding, along with local transportation and International trading in Maldives. The Antrac Holding team of employees consists of skilled and professional individuals with a vast array of knowledge and experience in the field.

PRODUCTS & SERVICES: Currently the Antrac Holding Private Limited (AHPL) group have a well-diversified and successful business portfolio consisting of the following business lines: marine services, freight forwarding services, bunkering & fuel supply, logistics, automobile yachts chartering, resort development, real estate, rental services, and general trading.

Apollo Holdings CEO / MANAGING DIRECTOR

Abdul Muhsin Hussain

YEAR STARTED

1998

EMPLOYMENT

310

INDUSTRY

Wholesale And Retail Trade

OWNERSHIP

Private Ownership

Apollo Holdings Pvt Ltd was established in the year 1998 as a private limited company. The company commenced trading in the same year with import & distribution of hardware materials in the Maldives as its main line of business. Business diversity was always the company’s success. Some Investments include: water tank manufacturing, plastic bag production plant, private port facility, and real estate development.

Customer service centers are located in Male’, S.Hithadhoo and GDh. APOLLO HOLDINGS PVT LTD

Thinadhoo. Logistics, distributions & production are carried out in the

+960 332 0065

central operations hub at Thilafushi. Logistical solutions were the major

sales@apolloholdings.com.mv

business operation in the recent past. Our fleet includes includes 8

www.apolloholdings.com.mv

wooden ocean vessels, and 3 landing crafts.

PRODUCTS & SERVICES: Total solution of hardware & construction material supply, combined logistics solutions, freight forwarding & cargo handling services, stevedoring services, ship chandelling services, cargo storage services, offshore logistics & delivery services, ocean vessel charter services, landing craft hire services, dhoni (wooden hull boats) hire services, heavy equipment rentals services, condominium development, and real estate.

Asia Forwarding CEO / MANAGING DIRECTOR

Ahmed Ziyadh Mohamed

YEAR STARTED

2005

EMPLOYMENT

18

INDUSTRY

Freight Forwarding & Logistics

OWNERSHIP

Partnership

SUBSIDIARIES

Asia Shipping And Logistics Pvt Ltd, AFL Shipping Llc, Asia Group Pvt Ltd, Asia Forwarding Thailand Ltd, VIC-LINKS Logistic (Shenzhen) Ltd

Asia Forwarding Pvt Ltd is one of the leading freight forwarders in the Maldives with its branch offices in Thailand, Dubai, and China. Asia ASIA FORWARDING PVT LTD +960 777 5917 ziyadh@theasiaforwarding.com www.theasiaforwarding.com

Forwarding is affiliated with the world’s largest and most powerful network of independent freight forwarders, with over 6714 member offices in 193 countries around the world. Locally certified by the Maldives Customs Services as a registered broker for handling DDU & DDP shipments in the Maldives, we are specialized in handling project cargo, sea freight, and air freight shipments to the Maldives. In addition, we provide import bond facilities, rental or leasing of warehouse space and storage containers, transport of packing materials, and on-site cargo handling services.

PRODUCTS & SERVICES: Our products and services includes sea freight service, air freight service, customs brokerage service, warehousing & distributing, project cargo handling service, liner & ship agency service, bunkering & ship chanelling, cruise liner & yacht handling, atoll container express, reefer logistics.

ASK Holdings CEO / MANAGING DIRECTOR

Fazlulla Ibrahim

YEAR STARTED

2004

EMPLOYMENT

40

INDUSTRY

Wholesale & Retail Trade, Services

OWNERSHIP

100% Local (Private Held)

ASK Holdings Pvt Ltd is a leading provider of hardware and sanitary solutions. The company was founded by Mr. Ali Sulaiman with a straight forward intention of providing his children with a better life. Decades later, the company is a successful family-run business, highly reputed for its hardware solutions, and a household name when it comes to sanitary ware. ASK Holdings Pvt Ltd functions with a mission of maintaining quality standards for all of its products, providing store ASK HOLDINGS PRIVATE LIMITED

wide warranty services, best prices, and reliable products and amenities

+960 332 1550

for all its customers. The company also focuses on providing every

info@ask.com.mv

customer with easy access to the finest quality tools for any job, and

www.ask.com.mv

maintaining its reliable reputation as a one stop retailer for all building products.

PRODUCTS & SERVICES: ASK Holdings Pvt Ltd's specialty areas include sanitary ware solutions, hardware solutions, floor tiles and wall tiles, finishing products for cleaning and maintenance, PVC pipes and fittings, furniture accessories, roofing materials, exterior and interior paint, electrical switches and door locks, as well as ceiling and partition boards. The company also has a team of dedicated, young, and innovative professionals who prioritize satisfying the needs of the company's customers as quickly and easily as possible.

Asters CEO / MANAGING DIRECTOR

Ibrahim Kaleem

YEAR STARTED

1997

EMPLOYMENT

70

INDUSTRY

Wholesale And Retail Trade

OWNERSHIP

100% Local (Private Held)

Founded in 1997, Asters Pvt Ltd is the number one provider of high quality Home Appliances such as TV and AC's, affordable home and office furniture, office supplies, electronic appliances and technology products in the Maldives. As a leading company, we always act with confidence. We are not afraid to push ourselves to greater heights and we don’t settle for less than being the best in the industry. To achieve this, we listen to our customers and understand their needs. We offer ASTERS PRIVATE LIMITED +960 331 6464 sales@asters.com.mv www.asters.com.mv

products, services and innovative solutions that satisfy our customers.

With this, Asters continues to sustain its growth and success.

PRODUCTS & SERVICES: We offer a total range of quality products and services at the lowest prices, for your house, office and business, all accessible through a fully functioning online store at www.astersonline.com. This includes home appliances such as TV, AC, washing machine, refrigerator, home decor, home + outdoor + office furniture, mattresses, kitchen utensils, office supplies, office equipment, consumer electronics, laptops, lights and much more.

Atollmarket CEO / MANAGING DIRECTOR

Ahmed Hafeez

YEAR STARTED

2003

EMPLOYMENT

30

INDUSTRY

Information and Communication

OWNERSHIP

Private Ownership

Atollmarket Pvt Ltd is a company established in 2003, dedicated to providing you with a better tomorrow in the field of Office Automation.

We have established strategic relationships directly with manufacturers and producers of office automated products to curtail unnecessary costs and to satisfactorily meet the high expectations of our well-understood customers and clients. To accomplish our vision and mission as the performance-proven market leader providing better products and ATOLLMARKET PVT LTD

services in the field of office automation in our core business area,

+960 332 6297

Atollmarket excels in value creation in the following five principles:

sales@atollmarket.com

Authenticity, Commitment, Creativity, Service, and Technology. These

www.atollmarket.com

five value-creating objectives are spelled out and articulated within the system, operations, and services of the company as well.

PRODUCTS & SERVICES: Atollmarket Pvt Ltd is the sole distributor of the brands Xerox and HID. In addition, we are the authorized distributors for Topaz, Signature Pad, Crossmatch, Fingerprint capture, Contec-digital signage solutions, Onity card encoders/cards/locks/programmers, 3CX IP PBX System, Axis CCTV Camera, XIRRUS WiFi Solutions, Ubiquiti WiFi and Network Solutions, and 3C Link Fiber Products.

AVIA Maldives CEO / MANAGING DIRECTOR

Fathimath Xain

YEAR STARTED

2011

EMPLOYMENT

15

INDUSTRY

Aviation

OWNERSHIP

Private Held

SUBSIDIARIES

Avia Maldives Holidays

Avia Maldives Pvt Ltd is a leading aviation and travel service provider in the Republic of Maldives. Established to meet the comprehensive needs in the aviation and tourism industry, Avia Maldives continues to provide definitive services, filling the gap for experienced, world class and minimal effort handling in the Maldivian aviation market as well as cruising market. On the travel side, we provide quality and AVIA MALDIVES PVT LTD

personalized service to the needs and requirements of the traveler. Our

+960 778 6419

company combines the latest technology and equipment, expert staff,

ops@aviamaldives.com www.aviamaldives.com

and confident hands-on management style to deliver practical and high quality services. Our Operations Control team and the airport team is fully trained to meet the handling (GSA/PSA) requirement of charter or scheduled operations.

PRODUCTS & SERVICES: Avia Maldives provide the service of ground handling to VVIP/VIP Flights, executive flights, cargo and charter flights, military and scheduled operations. in addition, crew and passenger hotel accommodation bookings plus excursion trips are arranged on request. We are specialized in providing all the services in Maldivian airports once an aircraft touches down to airborne, including VIP catering services and all the international newspapers.

Bank of Maldives IN-CHARGE/DEPUTY CEO

Aishath Noordeen

YEAR STARTED

1982

EMPLOYMENT

1,000 (99% Maldivian)

INDUSTRY

Banking

OWNERSHIP

Public Ownership

Bank of Maldives is the leading financial institution in Maldives. We are a full-service bank engaging across the complete spectrum of personal, SME and corporate financial services. With 260,000 customers, we are privileged to touch the lives of almost every citizen and business in Maldives through our extensive network of branches, agents, relationship managers and online banking facilities. We have lent over MVR 3 billion last year to Maldivian individuals and businesses BANK OF MALDIVES PLC

and therefore play a pivotal role as an engine of growth for the local

+960 333 0200

economy. Our aim is to be a partner for success for our customers, to

info@bml.com.mv

actively participate in community development and to create long-term

www.bankofmaldives.com.mv

value for our shareholders.

PRODUCTS & SERVICES: Services for personal customers include Accounts, Loans, Credit Cards, Debit Cards, Internet Banking and Mobile Banking through a nationwide network of 36 branches, 100 ATMs, 5,000 Point of Sale merchants, 277 cash agents, 38 Self Service Banking Centres and 5 Dhoni Banking Units. Services for businesses include Accounts, Loans, Card Acquiring, Trade Services, Treasury Solutions, Payment Gateway and E-Banking Solutions, all supported by Dedicated Relationship Managers and Product Specialists.

Bison Maldives CEO / MANAGING DIRECTOR

Abdul Majeed

YEAR STARTED

2002

EMPLOYMENT

900+

INDUSTRY

Construction, Retail, Travel, and Hotel Operations

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Bison Trading Pvt Ltd, Bison Travel Maldives Pvt Ltd, Bison International Pvt Ltd, Taste Of Italy Pvt Ltd, Uthurumaafaru Holding Pvt Ltd

Incorporated on 24th October 2002, Bison Maldives Pvt Ltd has been BISON MALDIVES PVT LTD

engaged in the construction industry for almost two decades. Our

+960 331 5878

businesses range from building resort construction, aluminium &

info@bison.com.mv www.bison.com.mv

glass fabrication, retail fashion, travel & hotel operations, and a newly established restaurant business which is Taste of Italy. With our vision to “ensure a congenial living for the prosperity of future generations,” we are steadfast in delivering our mission “to operate as a corporate citizen with good judgement while remaining and working in harmony with society, environment and all stakeholders involved”. We commit ourselves with pride and pleasure in our work and to delight our clients in the growing construction industry while aiming to initiate a robust corporate governance culture and processes.

PRODUCTS & SERVICES: Bison offers the most comprehensive construction solutions, delivered pitch-perfect by our team of well-trained and seasoned professionals.

Bison Maldives developed Cocoon Maldives and the newly established restaurant business, ‘Taste of Italy’ offering authentic Italian food. We are currently the Principal Contractor of two resorts slated to open at the end of 2018 and early 2019. We also deal in aluminium extrusions, and operate Reveries Diving & Spa Resort. Our achievements are attributed to proper planning and seamless execution.

Bright Brothers CEO / MANAGING DIRECTORS

Mohamed Thowfeequ, Abdul Samad

YEAR STARTED

1984

EMPLOYMENT

174

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

100% Local (Private Held)

Established in 1984, Bright Brothers Pvt Ltd has grown from a small workshop operated by two brothers, Mohamed Thowfeequ and Abdul Samad, to a leading business in the field of refrigeration and airconditioning engineering, with service centres in Malé and Hulhumalé, a retail outlet to provide high quality refrigeration and air-conditioning equipment and spare parts at an affordable price, and an ice plant in BRIGHT BROTHERS PVT LTD

Dhaalu Atoll to provide fisheries, marine and fuel services. Since 2005,

+960 332 8333

the company has been venturing beyond the field of engineering and

info@brightbrothers.com.mv

branching out into new markets. Today, Bright Brothers are also the

www.brightbrothers.com.mv

proud owners of the bakery and café ARÁZO, and a Baskin-Robbins kiosk and shop as the first and only franchisee of Baskin-Robbins in the Maldives.

PRODUCTS & SERVICES: Bright Brothers Service Centres provide expert refrigeration and airconditioning services in Malé and Hulhumalé. Bright Brothers Showcase provides high quality refrigeration and air-conditioning equipment and spare parts. AGORA Supermarkets offer a wide variety of local and imported food and household products. ARGO Fisheries, Marine and Fuel Services is the first ice plant in Dhaalu Atoll and specialises in the production of flake ice and provides affordable diesel and petrol services. Baskin-Robbins kiosk and shop provide the world’s most recognisable brands of ice cream treats. ARÁZO Bakery and Café provides a fun and vibrant space to enjoy baked goods and à la carte service.

Canopus Maldives CEO / MANAGING DIRECTOR

Ahmed Afrah

YEAR STARTED

2000

EMPLOYMENT

51

INDUSTRY

Liveaboards and Guesthouses

OWNERSHIP

100% Local

SUBSIDIARIES

Canopus Akquasun Maldives Pvt Ltd, Surpass Canopus Maldives Pvt Ltd, Canopus Retreats Pvt Ltd, Sea Retreats Pvt Ltd

Formed as a family business in 2000, Canopus took its first steps in the tourism industry of Maldives with two liveaboards, Dhinasha and CANOPUS MALDIVES PVT LTD

Orca. Over the years we have diversified our activities to real estate

+960 332 1079

developments, Destination Management Company (through Akquasun

marketing@canopusmaldives.com www.canopusmaldives.com

Canopus Maldives), trading (through Surpass Canopus Maldives), guesthouse development & operations (through Canopus Retreats), and dive & water sports services (through Sea Retreats). We look for quality investment opportunities which provide above market returns while helping to limit risk over the long term. We welcome investors who are committed, consistent and disciplined to talk to us with their business proposals. Our success has always been based on the exceptional quality of our partners and our team.

PRODUCTS & SERVICES: Our group has the following business ventures: Canopus Maldives: Dhinasha Safari Boat, Maavehi Residence (service apartments), guesthouses (in Hulhumale and Thulusdhoo); Akquasun Canopus Maldives: Destination Management Company (DMC) offering a full range of inbound services in Maldives; Surpass Canopus Maldives: exclusive promoter of Caffe d’ Italia brand in Maldives; Sea Retreats: dive center and guesthouse in Thulusdhoo; and Canopus Retreats: 12 room beach front property in Thulusdhoo.

Capital Travel & Tours CEO / MANAGING DIRECTOR

Abdulla Riffath

YEAR STARTED

1991

EMPLOYMENT

30

INDUSTRY

Travel Agent

OWNERSHIP

Private Ownership

SUBSIDIARIES

Astrabon Maldives

Capital Travel & Tours Private Limited bloomed in the Maldives in 1991.

The prime activity of the company was initially to operate as an inbound travel agency in the Maldives. However today, we have over 5000 partners all around the globe and are classed as one of the largest, most reliable, and efficient tour operators in the Maldives. The company has an allotment contract with all of the leading resorts and hotels CAPITAL TRAVEL & TOURS PVT LTD +960 331 5089

in the Maldives. The group carefully diversified its business operation, engaging in trading within the last 15 years. This includes resort and

sales@capitaltravel.com

hotel supplies, office stationery and equipment, importing motor cycles,

www.capitaltravel.com

cars and other vehicles, as well as the establishment of a vehicle service center.

PRODUCTS & SERVICES: As a leading travel agent and tour operator, our services available to offer are limitless, ranging from honeymoon packages and family holiday packages to surf and dive vacations. Our clientele are from all around the world and we take a personalized route to ensure that each and every one of our clients are fully satisfied with our services. Capital Group also participates in major travel fairs and exhibitions internationally and thrives to expand the network of alliances throughout the world.

Centurion Transport Solutions CEO / MANAGING DIRECTOR

Aimon Jameel

YEAR STARTED

2010

EMPLOYMENT

137

INDUSTRY

Shipping and Logistics

OWNERSHIP

Major Shareholder: Centurion Plc

Centurion Transport Solutions (CTS) was registered in 2010 as a multidisciplinary business undertaking, and it is well established in the Maldives today. CTS offers a reliable and effective transport solution to the shipping and airline industry. It has a strong network within the Maldives and provides liner agency services, logistics, freight forwarding, and CENTURION TRANSPORT

related services. The company’s logistics network within the Maldives

SOLUTIONS PRIVATE LIMITED

guarantees that cargo is delivered to the door at any location. CTS is

+960 330 9668

a premium service provider for Maldives Custom Brokerage Services,

info@centurion.mv

handling all aspects of importation, exportation, customs clearance, and

www.centurion.mv

compliance. CTS operates out of VelanaInternational Airport for all air clearance, while sea clearance is handled through Male' head office.

PRODUCTS & SERVICES: Centurion Transport Solutions Pvt Ltd caters to importers and exporters, providing air/sea freight and logistics; hotel and resort sector, providing perishable logistics, freight warehousing, and customs clearance work; projects, providing project logistics, ship handling warehousing and vendor management; ship owners providing ship husbandry work; local businesses, providing import, export and door delivery service worldwide, and PNI clubs, providing PNI representation.

Ceylinco Insurance Company CEO / MANAGING DIRECTOR

Santhosh Subramaniam / Patrick Alwis

YEAR STARTED

2005

EMPLOYMENT

30

INDUSTRY

Financial and Insurance

OWNERSHIP

Private Held

Ceylinco Insurance Co. Pvt Ltd is a company registered in the Republic of Maldives, regulated & monitored by the Maldivian Monetary Authority.

The company's majority shares are held by Ceylinco Insurance PLC. Sri Lanka, a diversified blue-chip conglomerate with proud history CEYLINCO INSURANCE COMPANY

dating back to 1987. The company (Ceylinco Insurance Co. Pvt Ltd) is

PVT LTD

headquarted in Male' with operating branches present in Hulumale' &

+960 969 3939

Addu. Ceylinco was also the first insurer to open a branch in Addu, The

+960 332 6483

company has been a pioneer and trendsetter in introducing innovative

info@ceylincoinsurance.com.mv

insurance products to the market. Ceylinco has grown from strength

www.ceylinco-insurance.com

to strength and has become a common and well recognized brand amongst the Maldivian community.

PRODUCTS & SERVICES: The company's main area of operation is underwriting of all classes of General Insurance. The following are some of the segments which the company currently underwrites: property insurance, health insurance, liability insurance, motor insurance, and marine insurance. The company also provides insurance solutions for specialty classes such as personalized products, and is presently working on micro insurance.

Chandelier Company CEO / MANAGING DIRECTOR

Hassan Hussain

YEAR STARTED

2008

EMPLOYMENT

57

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

100% Local (Private Held)

Chandelier is a Proprietorship Business established in 1980, and was taken over by Chandelier Company Pvt Ltd in 2008. During the past years of service, the company was established as the leading supplier of high quality stationery items & consumable office products throughout the Republic of Maldives. Chandelier Company Pvt Ltd aims to provide quality products with efficient service to its customers. In order to meet the growing expectations of the customers, the company has enhanced CHANDELIER COMPANY PVT LTD

its network with six branches, geographically spread from North to

+960 334 3876

South of the country. Aside from stationery and office supplies, the

sales@chandelier.com.mv

company has diversified its business to include hardware, with the

www.chandelier.com

introduction of a new technology: pipe and fitting system.

PRODUCTS & SERVICES: Chandelier Company is the authorized dealer for a few brands such as: Paper One Copier (Indonesia), Campap (Malaysia ), Seaking (Singapore), Sure Mark (Singapore), and Polar Bear (Singapore), etc. Besides that, the company sells various kinds of stationery and office supplies. The company's clientele includes all the prominent government offices, schools, banks, organizations, hotels and resorts, as well as the private sector.

City Investments CHAIRMAN

Ali Faheem

YEAR STARTED

2005

EMPLOYMENT

194

INDUSTRY

F & B and Hygiene Solution

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Bakery Outlets, City Garden, City Snacks, City Gelato, City Innovative Hygiene

City Investments was founded in 2005, driven by a passion for food and a shared vision among the founders to revolutionize the dining and socializing scene in Male’. Registering a company also provided the administrative support for City Bakery that was expanding at a CITY INVESTMENTS PVT LTD +960 334 2862 info@city.com.mv www.city.com.mv

fast pace since its establishment in 2002. In addition to City Bakery, City Investments operates a number of cafes and restaurants, bakery shops, and City Innovative Hygiene - a full-fledged hygiene and cleaning product range for housekeeping, kitchens, and laundries.

City Investments also imports and distributes a number of well-known brands of products sourced from prestigious international suppliers, mainly in Europe and Asia.

PRODUCTS & SERVICES: With seven operational food outlets including the main bakery, City Investments is the sole importer and distributor of: Bakels bakery pre-mixes, Rosselmehl and Prima wheat flour, Victoria yeast, Monita margarine, Master Martini cooking chocolates and creams, PreGel ingredients for gelatos and beverages, Pavoni bakery utensils, Darbo preserves and honey, Fentimans botanically-brewed drinks, Compal juices, Dolomia Spring water, Trucillo coffee, Cafes Richard teas and coffee, Manna sauces, WILDALP natural spring water and Veen water.

We also import and install Mastro kitchen equipment and Hagleitner hygiene equipment, with after sales services.

Co-Load (Maldives) CEO / MANAGING DIRECTOR

Abbas Mohamed

YEAR STARTED

1986

EMPLOYMENT

72

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

Private Held

SUBSIDIARIES

Educorp Consulting Pvt Ltd, Co-Load Development Pvt Ltd

Co-Load Maldives, founded by Mr. Abbas Mohamed in 1986, mainly focuses on retail and wholesale trading. The firm takes pride in providing customers access to top quality products and brands, and sets the touchstone in terms of customer service in the Maldives. CoLoad is the sole distributor of world-renowned paint brands from Europe CO-LOAD (MALDIVES) PVT LTD

which includes Crown Paints, Jotun, Sikkens and AkzoNobel Aerospace

+960 332 0450

Coatings, available in every Maldivian’s go-to paint store, Color Bank.

admin@coload.com.mv www.coload.com.mv

In 2011, the firms’ flagship store, the world’s 6th largest franchise, Ace Hardware and Home Centre was introduced, revolutionizing the retail trade of Maldives. Currently with two outlets each of Color Bank and Ace Hardware, the firm is ever-growing with exciting new developments in the pipeline.

PRODUCTS & SERVICES: Co-Load Maldives offers a wide range of product lines including housewares & gifts, paints & sundries (decorative, automotive, marine, wood care, wood stains, aerospace & other specialty paints), home appliances, commercial and household cleaning products, power tools and hand tools, hardware, gardening & lawn supplies, outdoor living equipment, plumbing supplies, fasteners, hotel supplies, electrical supplies, sporting goods, toys, stationary & office equipment, candy & foods etc.

Copier Plus CEO / MANAGING DIRECTOR

Hassan Muneer

YEAR STARTED

2004

EMPLOYMENT

18

INDUSTRY

Office Automation & Electronics

OWNERSHIP

100% Local (Private Held)

Copier plus Pvt. Ltd. was established by Mr. Hassan Muneer and Ms. Athifa Mohamed in focus on providing a total office automation solution to the Maldives. With Toshiba tech on board, Copier Plus was launched on 2004 with a showroom and a service center. To further expand the product line up, Copier Plus Pvt. Ltd. introduced Brother international’s products to the Maldives in 2008. With our combined experience, and this industry's resilience, we feel that our continued growth coupled COPIER PLUS (PVT) LTD. +960 331 2121

with our new marketing strategy will make us the ideal choice for our stakeholders.

info@copierplus.com.mv www.copierplus.com.mv

PRODUCTS & SERVICES: Copier Plus is the authorized distributor for Brother and Toshiba’s office automation lineup. We are responsible for Maldivian sales and after sales service for the country. We provide custom solutions for business needs. We provide our customers with an overall cost savings through our “value-add” strategy of job specific solution sales. Our solutions focus on the needs of the customer, the time frame for the project, and the overall scope of work.

Crown & Champa Resorts CEO / MANAGING DIRECTOR

Martin Vossen

YEAR STARTED

2000

EMPLOYMENT

3300

INDUSTRY

Tourist Resorts

OWNERSHIP

Private Held

SUBSIDIARIES

Champa Resorts, Champa Brothers, Crown Tours, Global Pvt Ltd, KASA, Komandoo Holdings, Kuredu Holdings, Manta Maldives, MFLC Maldives, Seagull Pvt Ltd, Tree Top Health, Tree Top Investments, Voyages Maldives

CROWN & CHAMPA RESORTS +960 664 0219 ceo@crownandchamparesorts.com www.crownandchamparesorts.com

Crown & Champa Resorts “CCR� is a trade name for a group of resort hotels in the Republic of Maldives, owned and operated by various Maldivian and foreign partners, whose common interest is to work together to achieve better business performance. These common interests include but are not limited to: new development, design, concept, construction, marketing & sales, operations, finance, purchasing, and human resources development. CCR was established in 2000. Our Mission is to exceed the expectations of our guests, our partners and fellow employees. Our shared values across CCR allow us to deliver the unique combination of outstanding accommodation, service and the highest levels of customer satisfaction, with extraordinary emphasis on the creation of value.

PRODUCTS & SERVICES: Currently with a portfolio of 10 hotel and resorts: Hurawalhi Island Resort, Komandoo Island Resort & Spa, Kudadoo Private Island (open end of 2018), Kuredu Island Resort & Spa, Innahura Maldives Resort (open end of 2018), Meeru Island Resort & Spa, Veligandu Island Resort & Spa, Vilamendhoo Island Resort & Spa, Mirihi Island Resort, Champa Central Hotel.

D Blue CEO / MANAGING DIRECTOR

Mohamed Haleem

YEAR STARTED

2003

EMPLOYMENT

20

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

Private Held

D Blue Private Limited is one of the leading distributors and retailers of marine equipment and accessories. We believe that providing knowledgeable customer service is an essential part of the business.

Our product selection is based on experience, knowledge, and the enthusiasm to explore the finest & best quality products in the field.

Maldives, due to its unique geographic nature, requires sea transport as the main mode of transport between islands. Hence, it is vital for core D BLUE PVT LTD

businesses such as tourism, fishing and agricultural activities which

+960 330 3667

entirely depend on reliable sea transport without which our economy

info@dblue.com.mv

would not be sustainable.

www.dblue.com.mv

PRODUCTS & SERVICES: We have exclusive dealer ship of 99% of the products we sell and distribute . Our prime products are marine paints, marine engines, and generators. With more than 1000 registered customers, we have a strong presence among the resort industries and fishing market. 85% of our products are from Europe and America, with the rest being from Asian countries.

Damas Company CEO/ MANAGING DIRECTOR

Abdulla Salih

YEAR STARTED

2001

EMPLOYMENT

148

INDUSTRY

Healthcare, Hospitality, Real estate & Retail trade

OWNERSHIP

Private Ownership

SUBSIDIARIES

Intal Hotels, Damas Real Estate Pvt Ltd, Medica Hospital

Damas Company’s operations began in 1978. However, the company was registered as Damas Company Pvt Ltd in 2001. Since its inception, Damas has grown to become one of the leading business entities in the DAMAS COMPANY PVT LTD +960 333 300 info@damas.com.mv www.damas.com.mv

Maldives with a strong customer base made up of resorts, corporate clients, the public sector, and households. The group’s businesses and subsidiaries offer a range of products and services carefully developed to suit the needs of Maldivian consumers and businesses. Today the company employs over 148 staff and provides its products and services through several outlets and offices across the capital. Its outlets are: Index Furniture, Damas Homeware, Damas Furniture, Damas Paints marts and Damas Resortware.

PRODUCTS & SERVICES: In the area of trading, Damas Company is proud to have one of the most established and extensive distribution infrastructures in the country, driven by efficient communication systems and kept open by a dedicated team of sales and marketing personnel. The group’s diverse range of businesses include real estate, medical services, hospitality, and logistics, in addition to general trading. The company represents several internationally renowned brand names in the country.

Dhivehi Raajjeyge Gulhun CEO / MANAGING DIRECTOR

Ismail Rasheed

YEAR STARTED

1988

EMPLOYMENT

598

INDUSTRY

Telecommunications

OWNERSHIP

Btc Islands Limited (Batelcoholding 52%, Government of the Maldives 41.8%, shares held by General Public 6.2%)

Dhiraagu is the leading and largest digital and telecommunications service provider in the Maldives. Our business is to provide future-proof DHIVEHI RAAJJEYGE GULHUN PUBLIC LIMITED COMPANY

digital and telecommunications connectivity that enable our customers to get ahead in the digital future. We are the pioneers that ushered

+960 332 2802

the Maldives into the digital age, and we continue to lead the field

info@dhiraagu.com.mv

by placing the premium value on customer experience and, consistent

www.dhiraagu.com.mv

innovation to enhance our customers’ lives through digital technology.

With over 500,000 customers, and employing 99% trained Maldivians present across nine strategic operating centers throughout the country, we remain as the Maldives’ largest telecoms and digital service provider.

PRODUCTS & SERVICES: Dhiraagu brings the latest innovations and technology to help everyone from individuals to business to government institutions succeed in an increasingly connected world. We offer a comprehensive range of mobile, internet, data, IPTV, mobile money and fixed services and also ensure reliable international connectivity and coverage within Maldives.

Our enterprise solutions range from cloud solutions to M2M solutions, dedicated internet access, leased lines services, redundancy, and disaster recovery along with managed services.

Dhivehi Viuga CEO / MANAGING DIRECTOR

Abdul Rasheed

YEAR STARTED

2005

EMPLOYMENT

85

INDUSTRY

Telecommunications

OWNERSHIP

100% Local (Private Held)

Dhivehi Viuga Pvt. Is a network infrastructure solution provider that provides state-of-the-art service through a mixed team of local and foreign professionals with the mission of delivering unparalleled service and support to both Maldivian and International markets. Dhivehi Viuga Pvt. Ltd is a Maldives-based Company that has been in business since 2005. Since then the Company has developed its reputation as one of the best network solution providers in the country, especially for the DHIVEHI VIUGA PRIVATE LIMITED

hotel industry in the Maldives. Prior to the establishment of Company,

+960 334 4652

the founders of the Company have 15 years of experience in developing

info@dhivehiviuga.com

a different kind of network for the hotel industries.

www.dhivehiviuga.com

PRODUCTS & SERVICES: We provide the following services: network solutions, AV & automation solutions, hospitality solutions & consultation, systems integration & IP based services, security solutions, design & development of telephone network (digital / ip & analogue), design & development of high speed data network, design & development of tv network (IP & analogue), design & development of wi-fi network, data network consultation, services

automation,

BMS

automation,

services, and IP-based value-added services.

audio/video

distribution

Diethelm Travel The Maldives CEO / MANAGING DIRECTOR

Harith Perera

YEAR STARTED

2008

EMPLOYMENT

35

INDUSTRY

Travel Agent

OWNERSHIP

Cyprea Group

Diethelm Travel is an award-winning inbound tour operator with 12 offices in Asia. As a subsidiary of Diethelm Travel Group (www.diethelmtravel. com) and Cyprea Group, we are able to leverage our global reach and international experience in tour operations. With two offices and three and three airport counters, we are fully conversant with the way things DIETHELM TRAVEL THE MALDIVES +960 799 1105

work in the archipelago. Our key strengths are: a multicultural team of over 35 professionals for Diethelm Maldives alone, extensive local

howard.b@mv.diethelmtravel.com

expertise, experienced-led and innovative range of services that are

www.diethelmtravel.com/maldives

geared to handle the destinations' peculiarities, customized travel solutions, professional service, friendly staff, flawless tour execution, and hassle-free collaboration. These are the reasons why we are at the forefront of Maldives tourism.

PRODUCTS & SERVICES: Services provided by Diethelm Travel includes: access to preferential rates with over 60 resorts and hotels from around the Maldives, along with access to the most reliable liveaboards / safari cruise boats in the destination, fully compatible with the latest technology offering complete connectivity and have a sizeable bed bank. Moreover, we are an end to end solution that ensures that our guests are looked after and we are on hand for any emergency. With over 12 fully licensed and fully insured offices, and a network across Asia, we are always eager to ensure the best for our clients.

Ensis Fisheries CEO/ MANAGING DIRECTOR

Mohamed Waseem Ismail

YEAR STARTED

2002

EMPLOYMENT

485

INDUSTRY

Food Service Activities

OWNERSHIP

Private Held

SUBSIDIARIES

Wams Private Limited (Enzi), Nirutha Private Limited (Construction), Ensis Realty Private Limited (Real Estate), Thanburuma Private Limited (Resort)

From a modest beginning in 1996, Ensis Group of Maldives is today ENSIS FISHERIES PVT LTD

the largest frozen fish exporter in the Maldives. In addition to tuna

+960 778 6305

processing, the company is also engaged in a diverse range of business

admin@ensisgroup.com www.ensisgroup.com

activities, including food processing for the domestic market, operating safari boats, and producing souvenir T-shirts, clothes and other items for the tourism industry. Thus, the Ensis Group now consists of several companies; namely, Ensis Cruises, Ensis Bakery and Ensis Embroidery and Print, in addition to the fisheries company. The company has been supplying to France, Germany, USA, Japan and other countries for over 16 years. Ensis Group has received many awards and accolades for their products and services.

PRODUCTS & SERVICES: Ensis Fisheries is the main company of the group and the proud market leader in fresh tuna exports from the Maldives. The company has also branched out into food processing for local market and its Enzi brand has become a household name in Maldives. Ensis group has also ventured into real estate development, and the tourism sector with its own safari yacht “Felicity� and upcoming resort development.

The company's newest product "Ensis Cannery" will be opened in early 2019.

Euro Global Maldives CEO / MANAGING DIRECTOR

Asim Abdul Raheem

YEAR STARTED

2004

EMPLOYMENT

65

INDUSTRY

Fisheries

OWNERSHIP

Private Ownership

We have our Yellowfin Tuna processing factory situated in Huraa Island in Maldives which is close to Male’ City. It’s about 20 minutes by speed boat from Male’ airport. Our processing plant is called “Blue Line” and has been approved by the EU, and carries the EU number MDV 007. We are one of the leading yellow fin tuna exporters in the Maldives. We strictly implement HACCP in this factory. In addition, we have the Dolphin Safe Certificate, ISO 22,000 Certification, BRC Grade AA EURO GLOBAL MALDIVES PVT LTD +960 790 0990

certification, FDA Certificate and compliance Certificate from Maldives Food & Drug Authority. Our processed tuna is exported to the USA, the

info@euroglobal.com.mv

UK, Canada, EU Countries including France, Netherlands, Italy, Germany,

www.euroglobal.com.mv

Spain and Scandinavian countries.

PRODUCTS & SERVICES: At present we process and export following products; species: Yellowfin Tuna, Bigeye Tuna, Skipjack Tuna, Marlin, Mahi-mahi, Swordfish, Reef Fish (Grouper, Wahoo, Travelly, Snappers, Emperor). Product types: H & G, G & G, whole round loins: skin on, skinless, skinless wrapped in linen, green or white food touch paper, center cut/chunks (vacuum/ non-vacuum), center cut/chunks wrapped in linen, green or white food touch paper. Other products: tuna steak, saku, belly flaps, cubes and cheek meat.

Falim Group MANAGING DIRECTOR

Ahmed Ali

YEAR STARTED

2001

EMPLOYMENT

207

INDUSTRY

Tourism, Education, Construction, Real Estate, Business Consultancy

OWNERSHIP

Private Held (100% Local)

SUBSIDIARIES

ICS Maldives Pvt Ltd, MAPS Maldives Pvt Ltd, Haza Construction Pvt Ltd, Moodhu Holidays Pvt Ltd, AMINA Residency

The Company derives its name from Furahani Ali Manik, the late father FALIM GROUP PVT LTD

of the two brothers, Mohamed Ali Manik and Ahmed Ali Manik, who are

+960 333 7792

the shareholders of the group. Falim was incorporated in 2001 as it

info@falim.com.mv

was deemed necessary to consolidate the various activities undertaken

www.falim.com.mv

by the different companies under a common policy framework and streamline the various investments of the group. Since its inception more than a decade ago in 1996, Falim Group is actively involved in delivering a diversified range of products and services to cater to the various segments of the Maldivian population.

PRODUCTS & SERVICES: Falim and its subsidiary companies provide a wide range of products and services such as Falim: consultancy services; Moodhu: Travel & Tours; ICS: business computerization, consultancy and business management, events management; Maps Maldives: Maps College & Maps High School; Haza: building construction, resort construction and remodeling buildings; AMINA Residency: a twelve story commercial and residential building constructed by Falim Group as part of its real-estate development projects.

Focus Computers CEO / MANAGING DIRECTOR

Ahmed Didi

YEAR STARTED

1994

EMPLOYMENT

25

INDUSTRY

Information and Communication

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Focus Education Center

Focus Computers has more than 24 years of successful trading history providing sales, service, and support across the technology spectrum.

Since it’s inception in 1994, Focus is one of the key players in providing ICT Solutions in the Maldives. Our aim is to create a unique customer experience with combined technology and support services. We are committed to ensure cutting edge technologies and services to our FOCUS COMPUTERS PVT LTD

customers

by responding to customers’ needs through delivering

+960 332 1415

quality service. As an institution we believe in good governance and

info@focuscomp.com

integrity in dealing with our suppliers, customers and associates.

www.focuscomp.com

Our aim is to create a unique customers experience with combines technology and support services.

PRODUCTS & SERVICES: We serve customers in commercial and consumer markets through direct channels, and partners with major manufacturers, service companies, resellers, distributors and warranty service providers in delivering solutions and services to our clients. Some of our specialised solutions and services include: networking solutions server, storage managed security firewall, content filtering email, spam protection, business continuity disaster planning, backup & recovery cloud services, VOIP consulting, and training support services.

Fuel Express Maldives CEO / MANAGING DIRECTOR

Mohamed Shihab

YEAR STARTED

2011

EMPLOYMENT

24

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

100% Local (Private Held)

Fuel Express Maldives (FEM) is a local supplier for fuel, established to make a difference. Incorporated in 2011, FEM delivers beyond the average Fuel supplier, as we focus to serve our customers with the highest quality of fuel and provide it with the best of service. To attract more customers our greatest pride is that we have a zero tolerance policy on quality compromise. Since we value that our customers trust us in delivering a reliable service and at the heart of this we never FUEL EXPRESS MALDIVES PRIVATE LIMITED +960 300 1717 info@fem.com.mv www.fem.com.mv

compromise on quality. Furthermore in addition to being guaranteed the highest quality fuel available, serving our customers is always our priority.

PRODUCTS & SERVICES: We supply the highest grade petroleum and diesel that is available, through our distribution network. In 2016, we expanded our portfolio with TOTAL lubricants. We offer a wide range of marine lubricants that are technology-tested and approved by engine manufacturers.

Customers are affirmed that we only provide fuel of genuine and guaranteed quality, never adulterated fuel. While the product is generic in nature, what makes us unique is our service and support in delivering fuel requirements.

Fuel Supplies Maldives CEO / MANAGING DIRECTOR

Hamdhy Ageel

YEAR STARTED

2000

EMPLOYMENT

386

INDUSTRY

Fuel Logistics / Boatyard

OWNERSHIP

State Trading Organisation Plc

Fuel Supplies Maldives Pvt Ltd, established in December 2000, is a subsidiary of State Trading Organization PLC (STO), formed with the main objective of streamlining fuel distribution in the country and to offer easy and convenient access to fuel related services and products throughout the country. The main purpose of FSM is to provide fuel related services including sales, distribution and maintenance of storage facilities across the country. Since inception, we have been FUEL SUPPLIES MALDIVES PVT LTD +960 333 6655 marketing@fuelmaldives.net www.fuelmaldives.com

continuously improving the services and efficiency by implementing the latest technologies, best practices, and working vigorously to improve the capacity of the company, meeting the challenges and ever-growing expectations of our customers.

PRODUCTS & SERVICES: Although the delivery of fuel may be seen as a standard procedure common to all, we see the need to provide tailor-made services that meet the unique requirement of our customers in different economic sectors. Our product & services include: fuel related equipment & accessories, supplying fuel for industrial & commercial clients & islands, domestic fuel bunkering services, international fuel bunkering services, fuel stations & retail services, and maritime services.

Gold Coin International CEO

Abdul Azeez Abdul Rahman

YEAR STARTED

2008

EMPLOYMENT

20

INDUSTRY

Trading, Tourism, Transport

OWNERSHIP

Private Held

GCI Maldives Pvt Ltd (GCIM) started its logistic operations in the Maldives with a vision to become an industry leader in delivering reliable and highquality services freight and cargo handling services to our customers.

It has always been our passion to exceed our customer's expectations and constantly improve ourselves to meet the needs of our customers.

We have been working in the Maldives for 10 years; as a result, we have built relationships and partnerships with the companies all around the country. To fully utilize the competitive advantages we have in the GCI MALDIVES PVT LTD +960 300 0918 azra@gcimaldives.com www.gcimaldives.com

Maldivian Market in terms of customer network and experience, we made the decision to expand our business into the tourism sector and consumer goods trade.

PRODUCTS & SERVICES: Our services: sea freight services, air freight services, freight consolidation services, product (commodities) sourcing and channeling services, hotel booking services, and wholesale and retail trade services. Our customers know that we do whatever it takes to ensure timely delivery. For the clients sending goods and services, we don't just take orders, we take responsibility, and we give our customers the best value in the business.

Habib Bank COUNTRY MANAGER (OFFICIATING)

Awais Abbas. Baloch

YEAR STARTED

1975

EMPLOYMENT

31

INDUSTRY

Financial and Insurance

OWNERSHIP

Private Held

HBL was the second commercial bank to be established in the Maldives in 1976. Over the years, HBL has grown its business relationships and branch network in the country. HBL Maldives is a foreign branch of HBL, headquartered in Pakistan. With a global presence in 29 countries, HBL is also one of the largest multinational financial institutions of the South East Asia. The Bank is expanding its presence in principal international markets including the UK, UAE, South and Central Asia, Africa and the HABIB BANK LIMITED +960 300 6520 customercare.maldives@hbl.com www.hbl.com

Far East. HBL Maldives offers wide ranging deposits, advances, and trade finance facilities. It also has one of the most competitive and qualified Corporate Banking Teams in the country.

PRODUCTS & SERVICES: HBL Corporate Banking is a leading provider of financial services to top-tier multi-national and local clients across the country, serving the financial needs of the nation’s preeminent corporations and financial institutions. Our well diversified portfolio comprises of Oil & Gas, Power, Tourism, Fisheries, Construction, Telecom, Transportation, Wholesale Trade, Consumer Goods, and many other important segments of the Maldivian economy.

Handy Holdings CEO / MANAGING DIRECTOR

Hassan Haleem

YEAR STARTED

1993

EMPLOYMENT

60+

INDUSTRY

Trading, Tourism, Manufacturing

OWNERSHIP

Private Held (100% Local)

SUBSIDIARIES

Handy Holdings Pvt Ltd, Handy Trading Pvt Ltd, Handy Industries Pvt Ltd, Hassan Haleem (sole proprietorship)

Handy holdings is a well-established group of companies, providing innovative solutions in various business sectors in the Maldives: Retail, Rentals, Manufacturing, Real Estate, Logistics solutions and Travel and HANDY HOLDINGS PVT LTD +960 331 0812 info@handyholdings.com www.handyholdings.com

Tourism. Mr. Hassan Haleem, Founder and Chairman of Handy takes a great pride in sharing the brand story of Handy. According to Hassan, Handy is a journey: “a journey through innovation”. During this journey, the joining crew and passengers bring in various different business ideas, passion and dedication along and work out fast success in each plan with proud. In the success of Handy Retail sector, a very success Handy retail business centre called Handy Plus.

PRODUCTS & SERVICES: Travel & Tourism: a 13 room safari vessel, a 16 room safari vessel, a 45 seat floating restaurant boat. Rentals: providing building machineries and tools for rent. Logistics Solutions: landing craft, crane, excavators, dump trucks, etc for rent. Trade: vehicle spare parts and building and construction materials retail. Service & Repair: vehicle service, repair and spare parts. Manufacturing: bottling and distribution of premium drinking water. Real Estate: a 10 story residential building in the center of Male’.

Happy Market MANAGING DIRECTOR

Mohamed Naeem

YEAR STARTED

1992

EMPLOYMENT

197

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

100% Local (Private Held)

Happy Market is a premium food and beverage importer & distributor operating in the Maldives. Established in 1992, the main priority of the business is to provide a wider range of healthier & premium quality products to the public. The dedication towards providing indisputable food solutions enabled the company to achieve exclusive distributorship for several world renowned F&B brands to the Maldives.

Our products are stored and well managed by our team in accordance to the guidelines and standard of HACCP. Happy Market is dedicated HAPPY MARKET TRADING COMPANY PVT LTD +960 331 3523

to enhancing all aspects of Maldives via socio-economic programs, and to focus on environmental stewardship activities for a healthier

info@happymarket.com.mv

society while committing to build the shareholders’ value by being a

www.happymarket.com.mv

truly sustainable organization.

PRODUCTS & SERVICES: Happy Market serves the Maldivian business community and the public at large with the most comprehensive food & beverage supplies and other necessities at a competitive price. Happy Market sources top quality brands from around the world & maintains an excellent distributor network. We prioritize delivering highly desired products to both individual customers and to business associates and provide excellent customer service through our trained personnel with the support of advanced technology to uphold client’s complete satisfaction.

Hassan Marine Engineering Solutions CEO / MANAGING DIRECTOR

Hassan Haleem

YEAR STARTED

1999

EMPLOYMENT

35

INDUSTRY

Wholesale & Retail Trade

Hassan Marine was established in 1999 as a service center specializing in the repair and maintenance of out-board engines. While Hassan Marine has earned a reputation as a trusted distributor of world renowned products over the past sixteen years, repair and maintenance also remain a strong component of the company’s services. The company has grown and expanded at record speed under the guidance of its visionary proprietor, Hassan Haleem, who plays an active role HASSAN MARINE ENGINEERING

in leading the company to date. Hassan, who holds a deep passion

SOLUTIONS PVT LTD

for marine engineering, also possesses over twenty five years of

+960 331 2733

experience working in the field. Now with a strong & experienced team,

info@hassanmarine.com

the company's future looks very bright.

www.hassanmarine.com

PRODUCTS & SERVICES: Through stringent monitoring and selection process, today Hassan Marine offers a solution for all outboard propulsion applications in the Maldives through four key ranges: Mercury 2-Strokes Portable, Mercury 4-Strokes Portable, Mercury SeaPro range & Mercury Verado Range. In addition to being the authorised local sales and service distributor for Mercury Marine products, Hassan Marine also acts as official distributor for a wide range of products from NGK, Quicksilver, Thordon, Attwood.

Hydrive and other brands.

Hotels and Resort Construction CHAIRMAN

Mohamed Ali Janah

YEAR STARTED

2007

EMPLOYMENT

1654

INDUSTRY

Construction

OWNERSHIP

Private Ownership

Incorporated in the Republic of Maldives in 2007, Hotels and Resort Construction Private Limited or HRC is an off-shoot of the parent company Alysen Services Private Limited (ASPL) formed in 1979. HRC is engaged in providing distinctive excellence in the construction of exquisite island resorts. It started off as an exclusive resort builder HOTELS AND RESORT CONSTRUCTION PVT LTD

in the Republic of Maldives – the tourist paradise. We have been successfully undertaking construction projects of tourist resorts on

+960 332 5602

turnkey as well as on a custom-designed basis in the Maldives since

info@hotelsresortsconstruction.com

our inception. In fact, over the past several years HRC, together with

www.hotelsresortsconstruction.com

its parent company, has undertaken and successfully completed over 50+ resort construction projects of varying magnitude in the Maldives.

PRODUCTS & SERVICES: We are engaged in delivering a variety of services in different entrepreneurial fields, including the following: Turnkey Resort Building Construction, General Contracting & Trade, Supply & Installation of Machinery & Equipment for Resorts, Resort Supplies, Export, Import and Freight Forwarding & Cargo Clearance, Structural & Architectural & Interior Design, Logistics & Engineering Solutions for Resorts, and Environmental Consultancy for Resorts.

Housing Development Corporation CEO/ Managing Director

Suhail Ahmed

Year Started

2001

Employment

940

Industry

Real Estate

Ownership

100% Government

Housing Development Corporation Limited (HDC) is a 100% state-owned enterprise which undertakes and manages the overall planning and building of the reclaimed city of Hulhumalé – the Maldives’ biggest and most ambitious city development. HDC carries out diverse developments ranging HOUSING DEVELOPMENT CORPORATION LIMITED +960 335 3535 mail@hdc.com.mv www.hdc.com.mv

from industrial, recreational, commercial, to a number of

residential projects. Hulhumalé Master Plan has been recognised internationally, as one that brings hope, innovation, and transformation to the Maldives and its people. In the year 2018, Hulhumalé was awarded the Best Master Plan Project at Cityscape Global Awards in Dubai, UAE, and the Calix Innovation Award at Las Vegas, USA.

PRODUCTS & SERVICES: HDC has successfully initiated key projects, many of which are the first of its kind in the Maldives such as the Water Theme Park, Yacht Marina, Cruise Terminal, World Class Sports Complex, Central Business District, etc. Notably, the year 2018 marked the largest government housing project in the country that was commenced in Hulhumalé Phase II, and the launching of HDC’s Open Access Network Project that would lead Hulhumalé to become the Asia’s first 100% gigabit enabled smart city.

Housing Development Finance Corporation (HDFC) CEO / MANAGING DIRECTOR

Raheema Saleem

YEAR STARTED

2004

EMPLOYMENT

37

INDUSTRY

Financial Service

OWNERSHIP

Public - Private Partnership

Housing Development Finance Corporation (HDFC) was incorporated in 2004, by a Presidential Decree under the Companies Act (Act No. 10/96).

HDFC’s commercial operations commenced on 29th March 2004 with HOUSING DEVELOPMENT FINANCE CORPORATION PLC

hundred percent shareholding by the Government of Maldives which later in 2008 was privatized with the shareholding from ADB, IFC and

+960 333 4666

HDFC Investments Ltd., (India) holding 51% of the shares, and 49% of the

+960 333 8810

shares by the Government of Maldives. Having restructured its capital,

info@hdfc.com.mv

and with new lines of long-term funding, HDFC re-entered the market

www.hdfc.com.mv

for mortgage loans for housing needs of individuals and families. HDFC is the only specialized mortgage housing finance institution in the Maldives.

PRODUCTS & SERVICES: Housing loans for home construction, home purchases, renovation; Islamic facilities for home construction, purchases, and renovation; managing government social housing schemes with the partnership of the Ministry of Housing; investment products such as Bond and Sukuk.

ILAA Maldives CEO / MANAGING DIRECTOR

Adnan Moosa

YEAR STARTED

1991

EMPLOYMENT

31

INDUSTRY

Engineering

OWNERSHIP

Private Held

ILAA Maldives Pvt Ltd is a family owned business established in 1991.

Over the past 25 years, ILAA provides world renowned quality products for clean power generation, solid and liquid waste management and electric vehicles. ILAA Maldives head Office is located in the Industrial Zone of Hulhumale’. This 27,000 sq ft complex consist of an administrative office, showroom, warehouse and a light industrial building. ILAA has always been and remains committed to playing a key ILAA MALDIVES PVT LTD +960 335 5751

role in providing environmentally sound engineering solutions across the Maldives. Our Mission is “To be the leader in providing effective

info@ilaamaldives.com

engineering solutions, quality products and excellent service to achieve

www.ilaamaldives.com

total customer satisfaction in the region”

PRODUCTS & SERVICES: ILAA has been providing world renowned quality products for clean power generation, solid and liquid waste management, and electric vehicles. Waste products: TeamTec incinerators, Orwak compactors, ILAA glass crushers, Disperator food waste disposer. Power genration: Caterpillar generators, Caterpillar marine engines, Caterpillar marine generators. Electric cars, Trojan deep cycle batteries, Tires, TOTAL lubricants, SwingTec fog machines, Sany Heavy machineries. Services: after sales services, maintenance, and contract warranty jobs.

Intour Maldives CEO / MANAGING DIRECTOR

Ali Firaq

YEAR STARTED

2005

EMPLOYMENT

15+

INDUSTRY

Travel Agency

OWNERSHIP

Private Held

Intour Maldives is one of the leading wholesale tour operators in the Maldives. Renowned for its strength in the CIS and Eastern European Market, the company is one of the pioneers of bringing in tourists to the Maldives from Russia, former CIS Countries, and Eastern Europe.

The company currently offers over 100 different resort hotels and 4 safari vessels; including their own vessel Ocean Sapphire. The company is represented at Major Travel Exhibitions and Trade Shows across the INTOUR MALDIVES PVT LTD +960 333 9994 info@intourmaldives.com www.intourmaldives.com

globe every year. The constant growth of the company means that it is currently represented at exhibitions in Asia, America, Europe, Australia, and the Middle East.

PRODUCTS & SERVICES: The company has been the leading tour operator for several top brands worldwide, including the likes of Four Seasons Resort Maldives at Landaa Giravaru, Four Seasons Resort Maldives at Kuda Huraa, One&Only Reethi Rah, Conrad Maldives Rangali Island, Anantara Kihava Villas, Anantara Dhigu Maldives, W Retreat & Spa, Hideaway Beach Resort & Spa, Velaa Private Island, Cheval Blanc Randheli, Huvafen Fushi, Niyama Maldives, Soneva Fushi, Amilla Fushi and many more.

Island Aviation CEO / MANAGING DIRECTOR

Mohamed Rizvi

YEAR STARTED

2000

EMPLOYMENT

1100+

INDUSTRY

Aviation

OWNERSHIP

Government

Island Aviation Services Limited established in 2000 is wholly owned by the Government of Maldives and is based in the capital Male’. Maldivian is also the national airline of the country and operates inter-island services within the county as well as international services to India, Bangladesh Thailand & China from its main hub at Velana International Airport. With a name like Maldivian, we are the obvious choice when the idea of a beach vacation comes to mind. Let us bridge the gap by flying ISLAND AVIATION SERVICES LIMITED

you to the beautiful islands of the Maldives and deliver you to your

+960 333 5566

dream vacation. We ensure that our guests discover the unique beauty

sales@iasl.aero

of Maldives through the Maldivian Experience Hospitality.

www.maldivian.aero

PRODUCTS & SERVICES: Besides airline services, the IAS portfolio is multifarious with international, domestic and seaplane operations. The company also provides engineering and maintenance services, cargo services, lounge services, airport management and operations, the company’s onestop shop Maldivian Holidays, and city check-in services. In addition to scheduled commercial flights we also operate charter flights, special medical evacuation flights, and freighter flights on a request basis. Our scheduled flights are also able to cater to several cases of medical evacuation.

Islanders Education CEO / MANAGING DIRECTOR

Ahmed Adhly Rasheed

YEAR STARTED

2012

EMPLOYMENT

320

INDUSTRY

Education

OWNERSHIP

100% Local (Private Held)

Islanders Education (IE) is a subsidiary of Islanders Group. Founded in 1980 by the Chairman of the group, Abdul Rasheed, Islanders Group is involved in multiple areas of business in the Maldives and in Sri Lanka.

The group entered the education sector in 2008, with the formation of Islanders Education Private Limited. Today, Islanders Education is the largest private educator in the Maldives. The company was the first to open an international school in the two most populous islands of the ISLANDERS EDUCATION PVT LTD +960 302 2000 info@islanderseducation.com

country - Malé and Addu. Over the past seven-years, Islanders Education has grown rapidly from 600 students in 2008 to 4,200 students as of 2018; spreading across the Maldives.

www.islanders.education

PRODUCTS & SERVICES: Billabong High International School, Kangaroo Kids International Preschool, Ameer Ahmed Community Preschool, Educonnect Private Limited, Finland International School Maldives, Teaching Tube, "Hologo" Augmented Reality Learning App, Foundation for a Better Future, Enovate Educate Symposium, Iqra International Preschools, Islanders Institute of Special Education (IISE), and Islanders Tourism & Hospitality Academy (ITHA).

JAAH CEO / MANAGING DIRECTOR

Ahmed Jahudhan Jaufar

YEAR STARTED

1994

EMPLOYMENT

130

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Jaah Investments Pvt Ltd, Jausa Construction Maldives Pvt Ltd

JAAH Pvt Ltd has achieved multiple milestones in the last two and a half decades. While the first taste of success came through the revolution in the tiling market brought about by the introduction of Lanka Tiles in Maldives and with time becoming their official sole distributor in 1999, new heights were reached in terms of prosperity and success with JAAH PVT LTD

the conquering of the sanitary ware segment through the marketing of

+960 332 9988

internationally acclaimed brands. Today, JAAH has raised the standard

info@jaah.mv

of quality by creating a showroom embodying modernity, as well as

www. jaah.mv

striving to make strong footholds in property development and in the digital space. Truly, ingenuity is visible in the magnificently rising residential complex The Gardens - Exotic Elegance.

PRODUCTS & SERVICES: Being the flag bearer of the tiling and sanitaryware sector, it has been the mission of the company to maintain the highest standard in terms of the products and services provided. This is reflected in the numerous globally recognized brands we sell such as American Standard, TOTO, LankaTiles, Guocera, Hafele, and Laticrete. Even the recent acquisition of Jausa Construction Maldives Pvt Ltd showcases the company’s dedication for quality. Surely, our property development projects will reap the benefits of acquiring this construction giant.

Kaimoo Travels & Hotel Services CEO / MANAGING DIRECTOR

Mohamed Manih Ahmed

YEAR STARTED

1979

EMPLOYMENT

593

INDUSTRY

Tourism And Investment

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Environmental Pest Control Pvt Ltd, Interlifts Pvt Ltd

The Kaimoo Group, founded in 1979, is a leading Maldivian tourism investment group. The former Chairman of Kaimoo, Hon. Kan’di Ahmed Ismail, was the first Tourism Secretary of the Maldives. Today Kaimoo KAIMOO TRAVELS & HOTEL SERVICES PRIVATE LIMITED +960 332 2212 kaimoo@dhivehinet.net.mv www.kaimoo.com

Group has invested in seven leading tourism related properties across the Maldives. Kaimoo investments range from tourist resorts, airport hotels, business hotels and city hotels. With over 30 years’ experience, Kaimoo Group is one of the most trusted companies in the Maldivian tourism industry. Kaimoo is a caring company that prioritizes not only high commercial value but also the satisfaction of its clientele, the welfare of its dedicated team and the overall prosperity of its community.

PRODUCTS & SERVICES: In 1979, Kaimoo opened their first private investment, Embudu Village, a 3 star resort. In 1992, Kam Hotel, one of the first city hotels in the Maldives, opened in Male’. After acquiring Ziyaaraifushi in 1996, the island was re-branded as Summer Island Village. In 1999, Equator Village, the first city hotel in Addu Atoll was established. In early 2000, Kaimoo introduced the Mookai Hotel and Mookai Suites. In 2015, Summer Island Maldives was opened after a complete redevelopment.

Leo Trading CEO / MANAGING DIRECTOR

Abdulla Sawad

YEAR STARTED

2002

EMPLOYMENT

160

INDUSTRY

Logistics

OWNERSHIP

Private Held

SUBSIDIARIES

Leo Shuttle Pvt Ltd

Leo Trading is the biggest and most widely known logistics company in the Maldives, responsible for the movement of over 80% of all the physical and industrial goods between the point of origin to the point of consumption to meet the requirements of customers. The company initially started as a trading company - mostly wholesale - in the capital city of Maldives concentrating on FMCGs and industrial consumables. As LEO TRADING PRIVATE LIMITED +960 300 6638 admin@leotrading.mv www.leotrading.mv

the market for FMCGs were hectic and intense, Mr Sawad strategically aligned the company’s direction toward industrialised goods and services, which was the right move and best fit for the company.

PRODUCTS & SERVICES: Leo Trading Pvt Ltd services consists of dhoni transport services, heavy construction machineries rentals, shipment clearance, consultation on cargo clearance, discharging shipments, excavating, back filling and compacting, constructing underwater pipeline and sewerage systems, reclamation services, demolition services, construction and material supply, harbor construction services, dredging, and many more. In terms of transport we do what our clients wants as much as possible.

It's a one-stop shop for all your transportation needs.

Life Support CEO / MANAGING DIRECTOR

Dr. Mariyam Waseema

YEAR STARTED

2011

EMPLOYMENT

42

INDUSTRY

Health Care Service, Wholesale And Retail Trade

OWNERSHIP

Private Ownership

Life Support Pvt. Ltd. was founded in 2011, with the purpose of enhancing the quality of life of people throughout the Maldives. At Life Support, we care about everyone’s health, in all stages of their lives. Today, we have partnered with numerous brands across the globe to provide access to premium products. Our team of professional and competent individuals truly makes Life Support unique, and true to our brand of LIFE SUPPORT PVT LTD +960 333 0528 +960 300 5630 lifepharma@lifesupport.mv www.lifesupport.mv

creating a community that is health-conscious and proactively aware of what makes their lives better. We are committed to upholding our core values of Integrity, Availability, Affordability, Involvement, Flexibility, and Quality. It is these values that lead and define our brand.

PRODUCTS & SERVICES: Pharmaceutical: one stop solution for pharmaceutical manufacturers which

include

drug

registration,

distribution,

inventory

control,

marketing, sales, and product promotion. Nutrient/Nutraceutical: our Nutrient and Nutraceutical product line helps maintain body functions and stay fit during all stages of life. Medical Consumables: With the focus of assisting healthcare professionals, our medical consumables, can cater for various service sectors. Retail: Our chain of pharmacies are located across Maldives, providing easy accessibility to obtain services and products through professional expertise for our customers.

Lily International CEO / MANAGING DIRECTOR

Amir Mansoor

YEAR STARTED

2000

EMPLOYMENT

135

INDUSTRY

Food Service Activities

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Marrybrown, Secret Recipe, Grape Expectations

Lily International was established in the year 2000 and is a privately owned importer and distributor of high quality internationally prominent brands of food and beverage, personal care, hygiene, and cosmetics products. Lily International is a subsidiary company of the “Lily Group”.

Lily Group was established 35 years ago and is a significant market player LILY INTERNATIONAL PVT LTD

in the wholesale, shipping, tourism and real-estate sectors. We have

+960 333 2840

harnessed nation-wide catering through the establishment of wholesale

info@lily-international.com www.lily-international.com

and retail outlets, the single largest cold storage facility in the Maldives (with 500 MT capacity), dry warehouses, land and sea distribution vehicles, and a cutting-edge IT infrastructure. Lily International works with companies in over 40 countries around the world.

PRODUCTS & SERVICES: Lily International stays true to its epitome of “Feeding the Nation, responsibly”. While Lily International grows from day to day, it is also a company that considers corporate responsibility as a serious part of its activities. As a staunch supporter or charity and other social events, Lily International believes in its contribution towards the socio-economic growth of the nation.

Link Serve CEO / MANAGING DIRECTOR

Ibrahim Faiz

YEAR STARTED

2002

EMPLOYMENT

85

INDUSTRY

Technical Services

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Avastkart, Red Box International Pvt Ltd, Fire Control Pvt Ltd

Link Serve Private Limited, the biggest IT based company in the Maldives, has been serving the nation since the year 2002. With an enthusiastic and dedicated team of more than 85+ professionals, we have grown our reach and network both within the capital city Male’ and across key regions in the Maldives. Currently, Link Serve owns 05 LINK SERVE PVT LTD

outlets: 2 located in Male’, 1 in Hulhumale, 1 at Addu City, and 1 in

+960 300 3000

Hdh. Kulhudhuffishi. Across all the chains of Link Serve we maintain

sales@linkserve.com.mv www.linkserve.com.mv

our relationship as one family, shaping technology in Maldives. Being the leading service provider for security solutions, Link Serve has been educating and creating awareness among the community for a safer tomorrow.

PRODUCTS & SERVICES: Our products and services include: data and telecommunication products, security solutions (hardware & software), intelligent building solutions, networking solutions, IP solutions, WiFi solutions, hardware solutions (enterprise solutions), software integrated solutions, server, storage & backup solutions, renewable energy solutions, service level agreement solutions, electrical components & solutions, cable management solutions, ICT consultation & survey, project management solutions, software solutions, enterprise solutions, and fire safety products & solutions.

M7 Print CEO / MANAGING DIRECTOR

Mohamed Abdul Sattar

YEAR STARTED

2007

EMPLOYMENT

62

INDUSTRY

Print & Publishing

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Al Falah Paper, M7 Media

Our business was established under the name of SM Stationary in early 1996 and was renamed M7 Books in November 2003. The new venture M7 Print became active from December 2007 with offset printing and production of eco friendly paper shopping bags. Team M7 is committed to providing reliable products and services at high quality and affordable prices. We deliver uncompromising smart solutions for our customers M7 PRINT PVT LTD +960 330 7787 print@m7maldives.com www.m7maldives.com

by simplifying their desired outcomes under the corporate slogan of “Simplifying Solutions”. The company will keep abreast of business trends by integrating related products and services. M7 has already gained wide recognition in the market as a reliable brand name in Male’.

PRODUCTS & SERVICES: To meet the ever growing demands of our customers, we have recently expanded the range of services we offer. This includes offset/digital printing, wide-format print, cloth print, UV print, sublimation & heat transfer, stamp & seal making, and designing service. Our products include stamps and seals, trophies & shields, PVC cards, pins & badges, canvas print, vehicle wrap, magazine prints, calendars, promotional materials, menus & brochures, academic books, office forms & stationaries.

Maldive Gas CEO / MANAGING DIRECTOR

Shazail Siyam

YEAR STARTED

1999

EMPLOYMENT

211

INDUSTRY

Liquified Petroleum Gas & Accessories

OWNERSHIP

State Trading Oragnisation Plc, Champa Oil And Gas Pvt Ltd

At the highest level in LPG distribution, Maldive Gas Private Limited is one of the prime companies in the industry. Maldive Gas Pvt Ltd is a public-private company established in 3rd October 1999, in union with State Trading Organization (PLC) and Champa Oil and Gas Private Limited. We brought an end to the consumption of old-fashioned stoves, MALDIVE GAS PVT LTD +960 333 5614

replacing them with the much-improved gas stoves. We are proud to be the largest LPG provider in the Maldives. The company owns four

info@maldivegas.com

distribution facilities, which are located in Thilafushi, Male' Villimale and

www.maldivegas.com

Hulhumale. Maldive Gas Pvt Ltd has a decade of solid business capability, in addition to excellence in the commercialization of its products and in serving the needs of its diverse constituencies.

PRODUCTS & SERVICES: MGPL supplies Liquid Petroleum Gas (LPG), Medical Oxygen, a range of industrial gases, and household goods such as stove tops and ovens, as well as a range of other white goods as auxiliary products. A storage expansion project in G.Dh. Thinadhoo has been initiated. The company has continued to grow with extensive managerial and efficiency gains through hard work and dedication as one team. This improvement in efficiency has made the company stronger, more competitive, and more reliable to our client base.

Maldives Airports Company CEO / MANAGING DIRECTOR

Adil Moosa

YEAR STARTED

2009

EMPLOYMENT

2600

INDUSTRY

Aviation

OWNERSHIP

Government

SUBSIDIARIES

Maldives Inflight Catering, Hulhule Island Hotel

Maldives Airports Company Limited (MACL) is a 100% government owned Limited Liability Company governed by a Board of Directors appointed by the Privatization & Corporatization Board of Maldives. MACL is MALDIVES AIRPORTS COMPANY LTD

the operator of Velana International Airport (VIA) the gateway to the

+960 777 5980

Maldives. MACL has embarked on the largest developmental projects in

info@macl.aero www.macl.aero

the Maldives, including a billion-dollar investment to transform VIA into a world-class airport. Major projects involves developing a new runway which can accommodate A380 aircrafts, a new International Passenger Terminal which can cater for 7.5 million pax, a new Cargo Terminal which can handle 120,000 tons, a new Fuel Farm which is 3 times the size of the present facility, a new seaplane terminal with MRO facilities, and a new CIP/VIP building, along with many other infrastructural developments.

PRODUCTS & SERVICES: Services provided by MACL include: Air traffic management services, ground operation services, passenger handling services, terminal services, cargo services, fuelling services, duty-free services, lounge services, terminal services, utility services, external & internal transport services, commercial services, maintenance & engineering services, airport rescue & fire fighting, aerodrome maintenance, safety, security & quality standards, information technology management services, projects planning & infrastructure development services.

Maldives Finance Leasing Company CEO / MANAGING DIRECTOR

Chandrapala Meranchi Abeysekera

YEAR STARTED

2001

EMPLOYMENT

38

INDUSTRY

Financial and Insurance

OWNERSHIP

Private Held

MFLC was set up in 2001 and commenced operation in June 2002.

Establishing a formal leasing industry in the Maldives was an initiative of the International Finance Corporation and the Maldives Monetary Authority. The primary objective in setting up the company was to diversify the Maldivian financial sector. In April 2014, MFLC was acquired MALDIVES FINANCE LEASING COMPANY PVT LTD

by Tree Top Investments Pvt Ltd, a company that was founded in 2013 by a group of successful businessmen with illustrious careers. MFLC’s

+960 331 5605

primary objective is to provide finance leases of movable assets to

+960 331 5606

small and medium scale business enterprises in the Maldives. However,

info@mflc.com.mv

it offers micro-leases to professionals who are employed in the Civil

www.mflc.com.mv

Service, and other private sector companies of repute as well.

PRODUCTS & SERVICES: Presently, the company is engaged in providing finance leases of marine vessels, plant, machinery, equipment and vehicles to the commercial sector and in micro financing of motor bikes, consumer durables to individuals. Further, the company provides home improvement loans as well. MFLC's products include Finance Lease, Hiyaa Faseyha, Salhi Lease, Direct Lease, Lifestyle Lease, V Lease, Debt Factoring and Housing Loans.

Maldives Industrial Fisheries Company CEO / MANAGING DIRECTOR

Ismail Fauzy

YEAR STARTED

1993

EMPLOYMENT

1606

INDUSTRY

Fisheries

OWNERSHIP

State Trading Organisation

SUBSIDIARIES

Marine Maldives Products

MIFCO is the leader of Maldives Fishermen with more than 3 decades of service to the Maldives fisheries as a state-run corporate enterprise for the processing and exportation of fisheries products. Throughout our successful history we have shown our commitment to the development MALDIVES INDUSTRIAL

of the fisheries sector in the Maldives while maintaining the unique

FISHERIES COMPANY LTD.

identity of the Maldives pole and line fishery. MIFCO manages the largest

+960 332 3932

fish procuring operation in Maldives collecting pole & line, Skipjack

info@mifco.com.mv

tuna, and hand line caught Yellow Fin tuna. MIFCO has its operations

www.mifco.com.mv

based in 4 factories located in 4 strategic geographic regions across the Maldives, while procuring fish directly and leading logistical support to fisherman through additional fleet of MIFCO’s own collector vessels.

PRODUCTS & SERVICES: MIFCO has EU accredited factories to process, canned, chilled, frozen and value added products. Products are exported mainly to international and regional markets, and in various value added packaging for the demands of local markets. The core ability to withstand competition comes through delivering quality assured tuna rather than quantity and by responsibly sourcing it, despite the hardship of the process. MIFCO stands steadfast in supporting our fisherman’s tremendous effort to bring a progressive economic growth to the Maldivian fishing industry.

Maldives Inflight Catering CEO / MANAGING DIRECTOR

Mohamed Abdul Sattar

YEAR STARTED

1988

EMPLOYMENT

347

INDUSTRY

Food Service Activities

OWNERSHIP

Private Ownership

Maldives Inflight Catering (MIC), a joint venture between the Maldives Airport Company Limited (MACL) and SATS Ltd, is the first and only inflight caterer in Maldives. Based at the Velana International Airport, MIC provides catering to our esteemed airlines and private jet clients.

Our passion to deliver high quality food and services to each of our MALDIVES INFLIGHT CATERING PRIVATE LIMITED

customers drives our firm forward as we constantly seek better and more efficient solutions to improve our customer experience. MIC, with more

+960 332 5084

than 30 years of expertise in inflight catering, seeks to continue to bring

info@mic.com.mv

value to our customers and partners through close communication and

www.mic.com.mv

collaboration. This reflects our mission to be the first-choice provider of food solutions in the Maldives by offering innovative solutions with consistent top-quality services to our customers.

PRODUCTS & SERVICES: Our services include VIP and Private Jet Catering, Airline Inflight Catering, Airline Linen Laundry Services, and Canteen Operations. Our expertise in the provision of inflight meals also include being able to accommodate passengers who may have specific medical, dietary, or religious requirements.

Maldives Islamic Bank CEO / MANAGING DIRECTOR

Abul Ehthesham Abdul Muhaimen

YEAR STARTED

2010

EMPLOYMENT

213

INDUSTRY

Financial and Insurance

OWNERSHIP

Private held

Maldives Islamic Bank (MIB) commenced its operations on 7th March 2011. It is the first and the only full-fledged Islamic bank currently operating in the Maldives. MIB is a collaboration between the Islamic Corporation for the Development (ICD) of the Private Sector, the government of Maldives and AmĂŁna Takaful. The total share capital of MIB currently stands at MVR 180 million. The Bank currently operates six branches, providing deposit, investment, financing and electronic MALDIVES ISLAMIC BANK PVT LTD +960 332 5555

banking services. MIB plans to expand its services and branch network to other atolls of Maldives. MIB has a vision to become the leader

marketing@mib.com.mv

and preferred partner in Shariah banking, and to be an active player

www.mib.com.mv

in promoting the growth and development of Islamic finance in the Maldives.

PRODUCTS & SERVICES: MIB provides a wide range of Shariah-compliant banking products and services for both individuals and businesses. MIB’s deposit and investment products (in MVR and USD) include Current, Savings, and General Investment Accounts. Financing services are provided for a wide array of goods and services, including consumer goods, motorcycle, car, vessels, housing, construction, machinery, and for trade or imports.

MIB also provides electronic banking services with debit card, ATM, POS, online banking, mobile banking and payment gateway services.

Maldives Ports Limited CEO / MANAGING DIRECTOR

Shahid Ali

YEAR STARTED

2008

EMPLOYMENT

1890

INDUSTRY

Ports, Shipping, Transportation

OWNERSHIP

Private Held

SUBSIDIARIES

Hithadhoo Port Limited, Kulhudhuhffushi Port Limited, Maamigilli International Port

MPL was incorporated on 31st July 2008 as a 100% government-owned company under the Companies Act of Maldives, with the key function to ensure efficient management and operation of government-owned ports and port facilities in the Maldives. MPL is governed under the leadership MALDIVES PORTS LIMITED

and guidance of the Board of Directors appointed by the President’s

+960 332 9339

office. As a commercial service provider, our focal business approach is

info@port.mv www.port.mv

to fast-track our services without compromising our high standards of quality. The challenge lies in keeping pace with a dynamic and evolving business environment and identifying opportunities that strengthen the economy and cultivates sustainable commercial development.

PRODUCTS & SERVICES: MPL provides value-added services in the handling of containerized cargo, reefer services, general cargo, specialized and dangerous goods, and depot services. This includes cargo services, marine services, technical services, transport services, a Port Training Centre, along with safety and security services. MPL also operates several subsidiary regional ports including Hithadhoo Port Limited (HPL), Kulhudhuhffushi Port Limited (KPL) and Maamigilli International Port (MIP). MPL also operated several transportation links across the Maldives including the GMTL Public Bus Service.

Maldives Transport and Contracting Company CEO / MANAGING DIRECTOR

Hassan Shah

YEAR STARTED

1980

EMPLOYMENT

1712

INDUSTRY

Construction

OWNERSHIP

Government 64.20%, Public 31.15%, MNSL 4.65%

SUBSIDIARIES

Maldives Real Estate Investment Corporation Private Limited

Maldives Transport and Contracting Company (MTCC), was incorporated in 1980, and is currently the longest serving public company in the MALDIVES TRANSPORT AND

Maldives. The company was established with the objective to contribute

CONTRACTING COMPANY PLC

towards the development of infrastructure and transport service in the

+960 332 6822

Maldives. Since then, MTCC has positioned itself as one of the strongest

info@mtcc.com.mv

business entities in the country with a diversified range of products

www.mtcc.mv

and services, with a work force of over 1700 employees across the country. Today the company offers a diverse range of services such as construction and project management services, modern transport services, marine logistics service, engineering and docking services, and general trading with a plethora of reputed brands and products.

PRODUCTS & SERVICES: We specialize in harbor development, dredging and reclamation, shore/ coastal protection, sheet piling, sewerage works, road construction, surveying, and building construction, modern sea and land transport services, marine logistics service, engineering and docking service, and general trading with a plethora of reputed products such as, Yanmar and Suzuki marine engines, Hamilton propulsion system, Castrol lubricants, PPG Protective and Marine coatings, Marol steering system, XCMG heavy machinery, Scott Bader boat building composites, Donaldson filtration solutions, and other marine accessories.

Male' Aerated Water Company CEO / MANAGING DIRECTOR

Sanjay Maniku

YEAR STARTED

1989

EMPLOYMENT

264

INDUSTRY

FMCG – Beverages

OWNERSHIP

Private Limited Company

MAWC is the first company which started the manufacturing of beverages and has been serving the Republic of Maldives with world class norms and quality products for the past 30 years. We at MAWC exist to benefit and refresh everyone in Maldives by relentlessly striving to exceed the expectations of our customers and consumers, providing safe and MALE' AERATED WATER COMPANY PVT LTD +960 332 9999 sales@mawc.com.mv www.mawc.com.mv

highest quality products, and continually improving our systems and processes.

PRODUCTS & SERVICES: MAWC has 5 production lines with production capacity of 300 bottles per minute. MAWC produces 13 international brands with flagship brand Coca-Cola and 55 SKU’s (stock keeping units) with the association of Coca-Cola, the global market leader in soft drinks. MAWC refreshes all geographical areas of Maldives including North, South & Central parts, as well as all channels of the retailers like resorts, guest houses, restaurants, cafe's, and marts.

Male’ Water and Sewerage Company CEO / MANAGING DIRECTOR

Adam Azim

YEAR STARTED

1995

EMPLOYMENT

951

INDUSTRY

Utilities

OWNERSHIP

Jointly Held - 80% Government, 20% Hitachi Plant Technologies

SUBSIDIARIES

Island Beverages Maldives Pvt Ltd

Established on the 1st of April 1995, Male’ Water and Sewerage Company is the pioneer organization in the Maldives to institute a water production MALE’ WATER AND SEWERAGE

and wastewater management system. Since then, the company has

COMPANY PRIVATE LIMITED

worked diligently to provide the people of Male’ with potable water and

+960 332 3209

manage wastewater sustainably, and at present serves approximately

pr@mwsc.com.mv www.mwsc.com.mv

more than 50% of the Maldivian population. Today, MWSC has become a multi-disciplinary engineering and manufacturing organization, as a visionary providing engineering solutions for integrated utilities and as a manufacturer of its own range of products. Since the inception of the company, MWSC has built all its strategies around the corporate objective of providing safe water and sewerage services which are sustainable, affordable, and environmentally friendly.

PRODUCTS & SERVICES: MWSC has become a multi-disciplinary engineering and manufacturing organization, as a visionary providing engineering solutions for integrated utilities and manufacturing its own range of products. As a manufacturer, MWSC ventured into bottling operations in 2004. In 2015, MWSC further expanded manufacturing operations by venturing into the production of its own line of PE and PVC Pipes. As an Engineer, MWSC provides innovative utility solutions for water, wastewater and power for resorts, the government, and contract clients.

Maxcom Technologies CEO / MANAGING DIRECTOR

Mohamed Fazeel

YEAR STARTED

2005

EMPLOYMENT

26

INDUSTRY

Information & Communication Technology

OWNERSHIP

Private Ownership

SUBSIDIARIES

Maxcom Training Solutions

Maxcom initially began as an IT equipment, computer systems and accessories sales outlet in June 2005. Subsequently, the business was registered as a limited liability company in the name of “Maxcom Technologies Private Limited� under the Maldives Company Act on 19 October 2009 with Registration No: C779/2009. Maxcom technologies MAXCOM TECHNOLOGIES PVT LTD

Pvt Ltd is the leading ICT solutions Provider in the Maldivian market,

+960 333 0037

and caters to over 300 corporate customers in various sectors. Maxcom

+960 333 0034 sales@maxcom.com.mv www.maxcom.com.mv

is the Authorised Distributor and dealer for renowned brands in the world such as Microsoft, Dell, Huawei, SAP, etc. In addition, Maxcom Technologies has a full fledged ICT training Center registered as Maxcom Training Solutions (MTS).

PRODUCTS & SERVICES: Our products and services include computer hardware & software, enterprise IT solutions, consumer IT products and services, after sales support services. Our products and services include Microsoft licensing and solutions, Dell desktops, laptops and client products, servers storage solutions, Huawei Enterprise infrastructure solutions, firewall and security solutions, and networking solutions. Our support and after sale services are delivered through authorized service centers with qualified technicians and engineers.

Medianet CEO / MANAGING DIRECTOR

Ahmed Shafeeu

YEAR STARTED

2005

EMPLOYMENT

150

INDUSTRY

Information & Communication

OWNERSHIP

Medianet Pvt Ltd

Medianet is the longest serving and most popular cable TV operator in the Maldives. With a vision to provide direct to home cable TV service to each and every household throughout the nation, Medianet was formed in 2005. With quality, premium content at its core, Medianets’ channel lineup, consists of 180+ channels, with different genres of content available in multi languages. Ultra high definition channels were introduced for the 2018 world cup, in addition to 90+ HD channels MEDIANET PVT. LTD. +960 332 0800 customerservice@medianet.com.mv

currently available. Medianet maintains a strong relationship with broadcasters and have thus acquired the license and rights to the best content available in this region.

www.medianet.mv

PRODUCTS & SERVICES: Medianet focuses on providing customers with the best possible selection of content available. Our content includes live sports events, award shows, English series available on the same day as it is premiered in US, Hindi entertainment, movies, news, ethnic channels, kids content and infotainment. M580, our UHD supported box was launched in 2018. Medianet cable TV services are available throughout the country and open miTV allows customers to watch live TV on smart devices.

Additionally, Medianet has a 24-hour call center for customer queries.

Megachip Electronics CEO / MANAGING DIRECTOR

Ahmed Zareer

YEAR STARTED

2000

EMPLOYMENT

15

INDUSTRY

ICT Professional Services

OWNERSHIP

Private Ownership

Megachip Electronics Pvt Ltd is a full service and support provider of Information Technology and Communications. We have gained the agility and scalability to support our client’s long term strategies by providing leading-edge, tailored ICT solutions drawn from the expertise and field experience of our Engineers and Consultants. Our people have the knowledge, expertise and know-how that simply cannot be matched. We are the DELL EMC Authorized Gold Partner in the Maldives, MEGACHIP ELECTRONICS PVT LTD +960 333 3088 info@megachipcomputers.com www.megachiplive.com

Enterprise Solutions Partner for VMware, Managed Partner for Microsoft and Partner for other products to deliver end-to-end solutions.

PRODUCTS & SERVICES: Megachip’s product portfolio ranges from IT accessories to desktop computers, laptops & Enterprise Infrastructure solutions. We find the best ICT solution for our client's specific needs. We also provide postimplementation support to maximize efficiency and performance.

Muni Group of Companies CEO / MANAGING DIRECTOR

Mukhuthar Hassan

YEAR STARTED

2000

EMPLOYMENT

280

INDUSTRY

Other

OWNERSHIP

Private Held

SUBSIDIARIES

Muni Travels, Fushifaru Investments, Beachwood Investments, Real Estate Business

Muni was founded in 1983 by Mr. Mukhuthar Hassan and Mr. Nizaar MUNI GROUP OF COMPANIES

Hassan, as a small local retailer with a capital of MRF 40,000.00. In 1987,

+960 333 1512

after four years in the retail business, Muni stepped into the tourism

info@muni.com.mv www.munihomecare.com

industry by investing into a diving dhoni under the name of “Muni Express”. Having achieved a successful 10 years simultaneously in the trading and tourism sector, Muni further expanded its business in the tourism sector by investing US$ 0.4 million in an ordinary Safari Yacht – “Moonima” along with a Diving Dhoni – “Iruvai”, which were launched in the year 1990. Muni launched their second Safari vessel – “Moodhuma”, and diving dhoni “Muni Impress” in 1997. During the year 2000, Muni Enterprises Private Limited came along with Mr. Ahmed Shiyam as an additional shareholder.

PRODUCTS & SERVICES: Muni Enterprises Private Limited engages in providing a better living environment for both the residential and commercial sectors of the Maldives. Muni understands the importance of this vital component of our life and history, and thereby strives to provide our customers with a modern, comprehensive, and affordable range of products to let them achieve their dream living environment. Our product range and service expertise practically completes every imaginable room scenario and style for both interior and exterior residential and commercial living environments.

Nalahiya Trading CEO / MANAGING DIRECTOR

Ismail Jumayyil Waheed

YEAR STARTED

1985

EMPLOYMENT

545

INDUSTRY

Construction

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Nalahiya Construction Pvt Ltd, Nalahiya Logistics Pvt Ltd, Nalahiya Holding Pvt Ltd, Nevada Shipping Pvt Ltd

Nalahiya Trading Pvt Ltd is a construction material supplier based in the Maldives. Ever since its establishment in 1985 by founder Mr. Ibrahim Waheed, Nalahiya Trading has been dedicated to providing customers NALAHIYA TRADING PVT LTD +960 333 1999 info@nalahiyatrading.com www.nalahiyatrading.com

with high-quality products and standard of service. Over the years, Nalahiya has grown into one of the largest building material suppliers in the country. With a workforce of over 500 employees, this company is one of the largest private companies in Maldives. The Founder’s deep-held philosophies, beliefs, and values, have shaped the way the company does business and deals with its customers. Values such as hard work, focusing on customers, preserving a high quality of products and services have always been held in high regard.

PRODUCTS & SERVICES: Nalahiya offers a total solution for the construction industry with an extended product range from basic construction materials to finishing products and related services. Some core products and services are: concrete materials (aggregate, grey cement, white cement, sands, deform bars, etc), Malayisian Brand plywood, film face plywood, SCG smartboards & smart woods, roofing & accessories, glass & aluminum, vehicle rental services, supply & logistic services, lathe workshop, and Nevada shipping.

Novelty Printers and Publishers CEO / MANAGING DIRECTOR

Asad Ali

YEAR STARTED

1965

EMPLOYMENT

147

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Paper World, FDI Station, FDI Boutique, N Plus, Novel Investments Pvt Ltd, Novel Colours, Novel Colours Hulhumale, Vantha Pvt Ltd, Seasplash Maldives Pvt Ltd

NOVELTY PRINTERS AND PUBLISHERS PVT LTD +960 331 8844 info@novelty.com.mv www.nplus.mv

Novelty started as a backyard business in 1965 using largely manual work, rudimentary machinery and lots of sweat. Through hard work and perseverance, our Chairman Mr. Ali Hussain developed the printing industry in Maldives in sync with every advancement in the printing industry internationally. Our mission is to provide the highest quality products and services possible, in a timely manner, at a competitive rate and provide services that exceeds the expectations of our esteemed customers.

Our Vision is to print in Maldives, what can be printed

elsewhere. Today, Novelty Group has diversified business in printing, paper converting, bookshop, paints and coating, photography, digital image, transportation, dive and water sports and hospitality.

PRODUCTS & SERVICES: Our range of printing includes corporate stationery, accounting stationery, annual reports, brochures and flyers, business cards, desktop and wall hanging calendars, posters, magazines, newsletters, packaging, labels, customized wallpaper, stickers, security seals, corporate stamps, membership cards, security printing and more. We cater to conferences, seminars, celebrations and seasonal events.

Ooredoo Maldives CEO / MANAGING DIRECTOR

Najib Khan

YEAR STARTED

2004

EMPLOYMENT

400

INDUSTRY

Telecommunications

OWNERSHIP

Ooredoo Group

SUBSIDIARIES

Ooredoo Maldives is a Subsidiary of Ooredoo Group

Ooredoo Maldives PLC is a leading international communications company delivering mobile, fixed, broadband internet and corporate services tailored to the needs of its consumers and businesses. Guided by its vision of enriching lives and its belief that it can stimulate human growth by leveraging communications to help people achieve OOREDOO MALDIVES PLC +960 961 1000 929@ooredoo.mv www.ooredoo.mv

more, Ooredoo has transformed the telecommunications industry for the people of the Maldives. As a full-fledged ICT company with the aim to open up the vast opportunities of the digital age to all, Ooredoo continues to make strong investments in bringing the latest technologies and innovations to the country. Subsequent to launching the first nationwide 4G+ network, it is now preparing to connect Maldives to the 5G revolution.

PRODUCTS & SERVICES: Our services include 4G+ Data Connectivity, Mobile & Fixed Telephony, Messaging, Data Services, Data Sharing Services, Fixed Line Solutions & Devices, Fixed & Wireless Broadband Internet Services, Ooredoo Business Services, Internet Leased Line Services, Total Resort Solutions, Mobile Financial Services, Smart Solutions (Smart Home, Smart Office, Smart School, Smart Campus & Smart Surveillance), Content Services, Cloud based ICT Solutions for Storage, Security & Hosting, Digital Resorts Solutions (Digital Resorts App, Digital HR, Digital Entertainment, and Digital Hub).

PestEx Maldives CEO / MANAGING DIRECTOR

Abdul Gafoor Moosa

YEAR STARTED

1999

EMPLOYMENT

112

INDUSTRY

Professional Services

OWNERSHIP

Private Held

PestEx Maldives Pvt Ltd has been a pioneer as a pest control service provider in the Maldives for the past 20 years. Since its humble beginnings in 1999, it blossomed to be the leading pest control company in the country. We ensure that the highest quality products are made available to our customers. We provide pest control services for more than 40 resorts. Chemicals are supplied to nearly 70% of the resorts that do the services on their own. PestEx Maldives has become PESTEX MALDIVES PVT LTD +960 333 8009 +960 333 6878 info@pestexmalvixes.com

a very integral part of the tourism industry by ensuring the wellbeing of the tourists visiting here which has helped enhance the well-earned reputation of “The Maldives being one of the best tourist destinations in the world”.

www.pestexmaldives.com

PRODUCTS & SERVICES: We provide pest control services to resorts, as well as selling chemicals and machinery to do-it-yourself clients. We believe in going the extra mile to satisfy our customers and upon realizing that pest control alone is not a perfect solution, we introduced our hygiene product line “Orapi Applied Hygiene” in 2016. We believe hygiene is a very important part of pest prevention. We provide fertilizers, chemicals and farming equipment for the agriculture industry to ensure that farmers reap the full harvest form their crops.

Rainbow Aluminium CEO / MANAGING DIRECTOR

Ibrahim Rafeeq

YEAR STARTED

1995

EMPLOYMENT

85

INDUSTRY

Aluminium and Fabrication / Manufacturing

OWNERSHIP

Private Held

Rainbow Aluminium Pvt Ltd (RA) is regarded as the very first company established in the Maldives to focus on the fabrication of aluminium doors, windows, curtain wall, and cladding. RA’s mission is to deliver a high-quality product, on time, and within budget, while providing an exceptional customer experience. The main career objective of RA is to achieve and sustain the status of No.1 fabricator in the Maldives.

RAINBOW ALUMINIUM PTE LTD

Throughout the years, RA has successfully completed an impressive

+960 334 0400

number of projects. RA has indeed become an active partner of the

aluminium@rainbow.com.mv

Rainbow Group of Companies contributing continuously to the Group’s

www.rainbow.com.mv

corporate strategy of One Stop Building Solution.

PRODUCTS & SERVICES: Fabricating and installing aluminium doors and windows—the types include casement window, sliding window, swing door, folding door, shopfront, tempered glass door, aluminium louver and aluminium grill, curtain wall and structural glazing, roller shutter doors, weatherclad wall protection system, wall cladding/alpolic cladding, exterior and interior strip ceiling system, shower cubicles, and aluminium perforated sheets.

Rasheed Carpentry & Construction CEO / MANAGING DIRECTOR

Ibrahim Rasheed

YEAR STARTED

1995

EMPLOYMENT

550

INDUSTRY

Construction

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

RCC Aluminium, RCC Buildware, RCC Rentals, RCC Apartments, RCC Carpentry.

Rasheed Carpentry and Construction Pvt Ltd has emerged as one of the most respected general contracting companies in the Maldives. Our RASHEED CARPENTRY &

business has proved our ability to take on large and complex projects

CONSTRUCTION PVT LTD

to be completed on time, on budget, and at the highest levels of quality.

+960 331 7878 info@rcc.com.mv www.rcc.com.mv

Over the years, we have developed multifaceted systems and procedures to ensure control over cost, quality, schedule, scope, and safety. We foster an atmosphere of mutual trust and cooperation among the team members by remaining sensitive to their specific needs throughout the project life cycle. We also have a company-wide policy encouraging quality services at a competitive price, ensuring the highest degree of professional service and results on all projects undertaken.

PRODUCTS & SERVICES: Our main business is building construction. Ever since RCC moved into the construction industry, we have always had enough projects to keep us on the go and to eventually bring us to where we are today. From residential to industrial construction, we have it all. Apart from this we have RCC Buildware, RCC Aluminum, RCC Rentals, RCC Apartments, RCC Carpentry.

Redwave CEO / MANAGING DIRECTOR

Mohamed Naajil

YEAR STARTED

2001

EMPLOYMENT

271

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

Private Held

We are a wholesale and retail business with a chain of supermarkets located in Male’, the capital city of Maldives. At Redwave we make sure that our customers get all their shopping done in one place with convenience and ease, saving valuable time, money, and effort. Each of our supermarkets house several departments stocked with quality products from reliable brands from all over the world. Initially starting out with the groceries department, over the years with the increasing REDWAVE PVT LTD +960 796 1176 naajil@redwavemaldives.com www.redwavemaldives.com

demands of our customers' busy and full lives, we have added cosmetics, kitchenware, frozen food, household, and our most recent addition - an electronics department.

PRODUCTS & SERVICES: We carry quality products from world-renowned brands. From your favorite brand of chocolates to beauty products, the demand for specific brands and brand loyalty is evident. After the many years of serving our customers we make sure that the best brands are always fully stocked and made available in all our outlets. We are the sole distributor for 100 plus and Nikai electronic items.

Riyan CEO / MANAGING DIRECTOR

Ibrahim Hameez

YEAR STARTED

2006

EMPLOYMENT

58

INDUSTRY

Professional Services

OWNERSHIP

100% Local (Private Held)

Riyan Private Limited is a registered multi-disciplinary consultancy firm in the Maldives. The firm was first incorporated on 24th July 1997 (as Riyan Design and Management Consultants Pvt Ltd), with the objective of providing multi-disciplinary design, engineering, and project management services for the local construction industry. Over the past two decades, the company has expanded their capacity in terms of their services portfolio and human resources. Their partnership with RIYAN PVT LTD +960 331 5049

international firms and consultants have given them the edge to provide consultancy services for a wide range of projects, including those funded

+960 333 5605

by international donor agencies. Today, all key members of the firm

info@riyan.com.mv

have been engaged in the built environment industry of the Maldives,

www.riyan.com.mv

gaining invaluable experience

working in both the government and

private sector.

PRODUCTS & SERVICES: Over the past two decades, Riyan's services have expanded from focusing only on the built environment to other areas such as socioeconomic research and planning. The current service portfolio includes: interior design, architectural design, civil engineering, structural engineering, MEP design, site investigation, hydrographic and land surveying, urban planning, development planning, coastal engineering, socioeconomic assessment,

sustainability

analysis,

quantity

surveying,

project

management, valuation, ports and transportation consultancy, solid waste management, water and sanitation design, feasibility studies, and management consultancy.

Seagull Group CEO / MANAGING DIRECTOR

Salah Shihab

YEAR STARTED

1984

EMPLOYMENT

170

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

100% Local (Private Held)

Seagull Group Pvt. Ltd was established in 1984 and has evolved over the past 30 years, diversifying and strengthening the product range with a unique level of service. A pioneer among importers in Maldives, trade and agriculture are a few key sectors of our diversified group.

34 years of its establishment presents a proud team of diverse proficiency representing 7 retail outlets, 1 cafĂŠ and 1 island dedicated to local agriculture and fisheries produce. Relying on our experience SEAGULL GROUP PVT LTD +960 332 3617 info@seagullmaldives.com

and dependable team, we are constantly refining and perfecting our products and services in accordance with our aim to become the best in the country.

www.seagullmaldives.com

PRODUCTS & SERVICES: Two outlets of Seagull Marine (specializing in selling boats and marine related equipment), two outlets of Seagull Foods (retailing local and imported produce), Seagull CafĂŠ, and three outlets of Sea Sports (retailing swimming, surf and leisure apparel plus equipment). The company also owns and manages an agricultural and fisheries project, combined with a boat yard, on the island Maafahi. Additionally, Seagull Group owns an exclusive holiday resort in Ari Atoll, Diamonds Thudufushi, managed by a Swiss firm.

Sheesha CEO / MANAGING DIRECTOR

Ahmed Hassan Manik

YEAR STARTED

1987

EMPLOYMENT

107

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

100% Local (Private Held)

We were first established as a small shop selling imported garments.

Three brothers own the company, the eldest being the founder.

Throughout the years, we have expanded our operations to four major cities. The firm’s head office and a 3S (Sales, Service, Stores) is in Male’, the capital of Maldives. The other 3S’s are in Hithadhoo and Hulhumale.

Our latest addition to the chain is the outlet in HDh. Kulhudhuffushi that operates under 3S as well. Full after-sales services are provided for SHEESHA PVT LTD +960 334 6632 info@sheesha.com.mv www.honda.mv

the motorcycles and power products that we sell directly to customers, or on an installment basis through Sheesha Installments (BMC), our installment partner.

PRODUCTS & SERVICES: SHEESHA is committed to being the "Supplier of Choice" through product and service excellence. Our emphasis is on being a responsible, innovative business providing Value-Added services to our customers and suppliers. Our sole lines of consumer products, comprising of Honda Brand Motorcycles, Water Pumps, Engines and Generators, are valued and enjoyed by countless fans around the nation. We also provide after sales services through our specialist Honda mechanics who ensures continuous reliability.

Silver Sands CEO / MANAGING DIRECTOR

Hussain Thoufeeq Ali

YEAR STARTED

2000

EMPLOYMENT

450+

INDUSTRY

Diving and Water Sports Activities

OWNERSHIP

Private Held

SUBSIDIARIES

Evo Home, Sea Gear, Evo Solution, Evo Surfaces, Evo Flooring, Fish World Maldives Pvt Ltd, Sovereign Agencies Pvt Ltd, Silver Sands Boat Yard

Silver Sands PVT. LTD. has been an inbound travel business since its SILVER SANDS PVT LTD +960 334 2737 info@silversands.com.mv www.silversandsdiving.com

inception in 2000. In 2005, it ventured into resort-based recreational activities, including diving, fishing and all excursions and water sports centers. Currently Silver Sands is operating dive, fishing and water sports centers in W Retreat & Spa Maldives, Anantara Dhigu, Anantara Veli, Naladhu Maldives, Huvafen Fushi, Velassaru Maldives, Shangrila’s Villigili Resort and Spa Maldives, Robinson Club Maldives, Anantara Kihavah, Niyama Maldives, Raffles Maldives Maradhoo, St. Regis Vommuli Maldives, Kandima Maldives, Robinson Club Noonu, Vakkaru, and Westin Maldives Miriandhoo Resort. In 2013, the company diversified into trading and has opened showrooms in Male’.

PRODUCTS & SERVICES: Evo Home, Evo Solutions, Evo Flooring, and Evo Surfaces provide onestop solutions for all the needs for residential purposes and for the resorts, ranging from F&B products, cutleries, crockeries, bathroom fittings, furniture (both outdoor and indoor), flooring and stone products, which are customized to individual needs. SEA GEAR offers full range of marine related equipment. Silver Sands boat yard produces multi purpose dhonis, glass bottom boats and parasailing boats.

Sirius Enterprises CEO / MANAGING DIRECTOR

Ahmed Naseem

YEAR STARTED

1993

EMPLOYMENT

150

INDUSTRY

Automobiles, Transportation

OWNERSHIP

100% Local (Private Held)

Sirius Enterprises Pvt Ltd is the leading company in the automobiles and spare parts industry in the Maldives, ever since it's establishment in the year 1993. We are specialized in the import of used and brand new cars from Japan which are being repaired and serviced at our garage, H.A.D Garage. In addition to cars, we import spare parts which are being sold in our three shops. We are also the sole distributor of Valvoline engine and motor oils, Yokohama batteries, Bando belts, and Apollo and SIRIUS ENTERPRISES PVT LTD +960 332 0788 sirius@dhivehinet.net.mv

Nankang tires. Furthermore, we are among the leading companies in providing speedboat services throughout the Maldives.

PRODUCTS & SERVICES: It is of utmost importance to us to make sure that all our customers are entirely satisfied with the products and services that they acquire from us. We are specialized in importing used and damaged cars from Japan, which is repaired and serviced at our garage (H.A.D garage) by our highly trained team. Furthermore, we are also the exclusive distributor of Valvoline engine oils, Yokohama batteries, Bando belts, and Nankang and Apollo tires. These are available from our 3 shops: Sirius 1, 2 and 3, or can be purchased for credit from our main office. We are also one of the leading companies providing speedboat services throughout maldives.

Sonee Hardware CEO / MANAGING DIRECTOR

Moosa Kaleem

YEAR STARTED

1970

EMPLOYMENT

500

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

100% Local (Private Held)

Founded in 1970, Sonee Hardware has been a forerunner in setting innovative trends in the Maldivian business arena. Dealing in hardware & building materials, Sonee Hardware is by all means a true leader in the hardware market, dedicated to providing the best buying experience to customers. Driven by its own hard earned motto “your favourite hardware store” Sonee Hardware has everything it takes to be the perfect business organization in its realm of operation. Sonee Hardware SONEE HARDWARE PVT. LTD. +960 333 6699

has a total of 7 outlets, including Sonee Hardware Professional and The Scene. Sonee Hardware Professional is dedicated to catering to the

info@sonee.com.mv

professionals in the industry. ‘The Scene’ offers complete bathroom &

www.sonee.com.mv

wellness solutions along with premium kitchenware and designer home décor accessories.

PRODUCTS & SERVICES: We deliver a wide range of branded products in general hardware, building materials, lighting, electrical equipment, power tools, professional cleaning solutions, sanitary ware and tiles, construction chemicals, fishing tackles, home décor, kitchenware, paints, and wallpaper. Major brands we represent include Bosch, Caparol, ABB, Osram, Duravit, Hansgrohe, Karcher, Roca, Leifheit, Shimano, Brabantia, Dunlop, Fischer, Mapei, Geberit, Marazzi, Mustad, Yale, Solignum, Corelle, Dorma, Fluke, Harris, Joseph Joseph, and Noramann Copenhagen. Our full-fledged Service Centre offers repair and service by trained professionals.

State Trading Organization CEO & MANAGING DIRECTOR

Husen Amru Mohamed Rashad

YEAR STARTED

1964

EMPLOYMENT

2162

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

100% Local

SUBSIDIARIES

Allied Insurance, Fuel Supplies Maldives, Maldive Gas, Maldives National Oil Company, MIFCO, STO Maldives (Singapore), STO Hotels & Resorts

STATE TRADING ORGANIZATION PLC +960 334 4333 info@stomaldives.net www.sto.mv

It was the early 1960's when our population was a mere 100,000, the only airstrip was the one laid by the British RA, and the mode of transport between islands was limited to traditional sailing Dhoni. The only resource available was tuna, and consumers were at the mercy of foreign importers. Even the most basic food items were expensive.

The country had no banking service. Development was slow with no available funds for major investments and no commercial industry.

That's when this company was established as Athireemaafannu Trading agency (ATA) with a mission to ensure a sustainable food provision to the whole nation. We have been expanding our business since then, while achieving our core mission.

PRODUCTS & SERVICES: Apart from our core mission to secure a continuous provision of staple foods, we, along with our subsidiary companies, JVs, and affiliates, are currently providing insurance services, construction materials, fuel, cooking gas, medical supplies, fisheries products & services etc. Furthermore, our home improvement products and supermarket products are sold at the regional outlets operated at different regions in the country. Some of our top brands include Hitachi, Makita tools, Kone elevators, Nippon paint etc.

Static Company CEO / MANAGING DIRECTOR

Ismail Shafeeu

YEAR STARTED

1989

EMPLOYMENT

150

INDUSTRY

Mechanical & Electrical Engineering, M&E Contracting, Reverse Osmosis Desalination and Water Treatment, Welding and Metal Works, Trading

OWNERSHIP

100% Local (Private Held)

Static Company, established since 1989, operating under the slogan “the practical solution”, is the market leader in M&E Contracting and Water STATIC COMPANY PVT LTD

Treatment, providing services covering the full spectrum under these

+960 331 0313

components. From power generation, electrical distribution to controls,

info@static-company.com

reverse osmosis desalination, waste water treatment, fluid collection

www.static-company.com

and pumping, the total solution is available from the company. Being a pioneer in introducing leading technology in the relative fields, the company represents world renowned brands in the local market.

Static Company’s services are available from our Head Office, Project and Trading offices, Manufacturing/Assembly facility at Thilafushi, engineering workshops – Static Electrix and Static Engineering, seven trading showrooms in Male’ and Hulhumale’ – Sparks, Sparks 1, Sparks 2, Etincelle, AquaReef showroom, and Static Marine SS.

PRODUCTS & SERVICES: Static Company is the Authorized Distributor for Schneider Electrics, Legrand, Hager, Gewiss, Davey Pumps, WIM, UMS, and many more. The Company builds and markets Reverse Osmosis Desalination Plants under the registered trademark brand of ‘Aqua Reef', covering a whole range of water treatment products. Specialized workshops offer services in metal fabrications, motor rewinding, and electrical engineering services. In contracting, the company’s services offer a total solution with equipment & products, installation & commissioning, and aftersales service.

Sun Front CEO / MANAGING DIRECTOR

Mohamed Rashad Adam

YEAR STARTED

1989

EMPLOYMENT

160

INDUSTRY

Wholesale And Retail Trade

OWNERSHIP

Private Held (Local)

SUBSIDIARIES

Scope Company Pvt Ltd

Sun Front Private Limited is a 100% local company registered in the Maldives on the 2nd of July 1989 with two shareholders. Sun Front’s business journey started with providing sea transportation services between the Capital City (Male’) and the Islands. Within a few short years, Sun Front had entered the trading business. To enhance its business in more areas, Sun Front’s shareholders registered Scope SUN FRONT PVT LTD

Company Private Limited, which is managed by Sun Front, since 26th of

+960 331 3313

April 1999. The businesses are operated in the Capital City (Male’) and

adminhr@sunfront.com.mv www.sunfront.com.mv

today, Sun Front has become a well-known local brand and a stockist, wholesaler, and retailer.

PRODUCTS & SERVICES: Sun Front’s business journey started with providing sea transportation services between the Capital City (Male’) and other islands. The company now specializes in the following business lines: lighting, finishing & fixtures, furniture, kitchen solutions & customized furniture, build ware, bikes, sea transportation, real estate developments, and financing.

The business outlets, showrooms, and product delivery services are operated in the prime locations of Male’ and Hulhumale, while the main warehouses are located in Thilafushi (the industrial island nearest to Male’) and Hulhumale’.

Sun Siyam MANAGING DIRECTOR

Ahmed Siyam Mohamed

YEAR STARTED

1990

EMPLOYMENT

3000

INDUSTRY

Hospitality

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Sun Siyam Resorts, Sun Travels & Tours, Emerald Resort, Sun Investments, Lets Travel, Sun Media group, Sun Construction, Ocean Islands

Sun Siyam, made up of a number of companies and primarily involved in the hospitality industry, is incorporated in the Maldives with its sales SUN SIYAM PVT. LTD.

offices in South Asia, Asia Pacific, and Europe. Being one of the top tax

+960 332 5977

payers of the country and with more than 3000 employees under its

marketing@sunsiyam.com

able guidance, today, Sun Siyam and its subsidiaries have grown to be

www.sunsiyam.com

a leader in the tourism industry of the Maldives. Over the years and as its business acumen grew, the group diversified its business into other related business interest including Construction, Media, and Agriculture.

The company will be expanding its services with new resorts in the upcoming future.

PRODUCTS & SERVICES: Travel agency, resort operations, resort management, safari operation, transport services, diving centers, watersports centers, spa operations, building & construction, supply & procurement, and agriculture are some of the products and services provided by the company. Sun siyam resorts features properties ranging from 4 star deluxe to 5 star luxury, offering a wide array of unique experiences at each of the property.

We offer diverse experiences at each property that falls in line with our concepts and brands, ranging from dining, adventure, culture and romance.

Sunwill CEO / MANAGING DIRECTOR

Abdulla Rafiu

YEAR STARTED

2011

EMPLOYMENT

268

INDUSTRY

Construction

OWNERSHIP

100% Local (Private Held)

Sunwill is a corporate business group providing a wide range of trading and contracting services in several fields across the maldives. Founded in 2011, Sunwill initially dealt with mainly civil and mechanical general contracting services, but has now grown to become a multifunctional organization. Sunwill has been actively involved in construction and trading activities for private and public sectors, executing numerous projects for the island resort developments and housing developments.

SUNWILL PVT LTD +960 300 6920

Sunwill has also gained a well-developed expertise in other different sectors including: hospitality industry, food business, construction

info@sunwillmaldives.com

management, engineering material wholesale, logistical support, metal

www.sunwillglobal.com

fabrication, dredging, and harbor development. The main target of our company has always been to build long term relationships with our clients.

PRODUCTS & SERVICES: Our

services

include

construction

or

development

of

resorts,

construction of residential or commercial buildings, harbor development, and remodeling the interior and exterior of existing buildings. Our services in the construction sector is not only limited to building and completing quality and reliable buildings, but our extensive experience in building sea walls, jetties, and complex wooden structures which meet the requirements of both our clients and the standards set by the government proves our competency in this vastly diversified sector.

Symphony Maldives CEO / MANAGING DIRECTOR

Riffath Waleed

YEAR STARTED

1991

EMPLOYMENT

136

INDUSTRY

Food Service Activities

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Crystal Sands Hotel Maafushi

Welcome to Symphony, a Maldivian Hospitality company established in 1992, with the aim to become pioneers in providing exclusive value added services and products. The company operates a conglomerate of service quarters consisting of a group of restaurants, exclusive and contract catering, boutique hotel, recreation hospitality, and realestate projects. Symphony Maldives gained a reputation of maintaining SYMPHONY MALDIVES PVT LTD

consistent services and quality food as the proud owner and operator

+960 779 8421

of the oldest restaurant of the Maldives, known for "never changing

info@symphonymaldives.com

Symphony". The company started off with the humble inception of just

www.symphonymaldives.com

6 tables, building credibility in the food industry and currently catering for more than 1000 pax per day. The company is diversifying more in to Unique Food outlets and Real Estate.

PRODUCTS & SERVICES: Establishments include Symphony Restaurant, which is the oldest restaurant in Maldives; Symphony Lagoon in K. Maafushi, Symphonic Restaurant in L. Kadhoo, and Symphony Catering, which is an exclusive, personalized and contracted catering facility; Crystal Sands Hotel in K. Maafushi. The company was the winner of "World Luxury Hotel" award 2017, Best Innovative Guest House Concept - Maldives Travel Awards 2018, Highest room seller - Agoda 2017. Moreover, real estate projects are conducted in L. Kadhoo and Hulhumale' under Symphony Hospitality.

TEP Construction CEO / MANAGING DIRECTOR

Ali Manik

YEAR STARTED

1995

EMPLOYMENT

147

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Rashu Hiyaa Holdings Pvt Ltd, Rashu Himeyn Investments Pvt Ltd

Founded in 1995 and initially established as a construction company, TEP has now diversified its business into wholesale and retail of building material and real-estate. TEP Construction undertakes building of commercial and residential projects from start to end, as well as TEP CONSTRUCTION PVT LTD

leasing of modern residential and commercial spaces. With its presence

+960 332 6787

in wholesale and retail of building material, TEPCon Hardware provides

info@tep.com.mv

quality products ranging from hardware, plumbing, sanitary ware, tiles,

www.tep.com.mv

flooring, kitchen, building machinery, power tools, outdoor furniture, adhesives, paint, light weight wooden boards, electrical wiring, and other related products through 5 outlets strategically located in the capital city of Male', to serve its ever growing customer base.

PRODUCTS & SERVICES: Our products and services include: residential, commercial & resort construction, project estimates, demolition and site cleaning service, building

maintenance,

remodeling,

interior

design,

construction

equipment and vehicle rentals, residential and commercial space leasing, wholesale and retail of construction materials and general hardware, home improvement products, and resort supplies. We are the sales agent for renowned product ranges from Sancora, Makita, Maktec, Empolo, Showy, V-Tec Goodsense, Thai pipe and Fittings, and Kedbrook.

The Hawks CEO / MANAGING DIRECTOR

Hassan Rifau

YEAR STARTED

2007

EMPLOYMENT

230

INDUSTRY

Professional Services

OWNERSHIP

100% Local (Private Held)

SUBSIDIARIES

Hawks Fuel Terminal and Fuel Storage, Hawks Boatyard, Hawks Lathe Workshop, Hawks Sea Transportation, Airport Beach Hotel Hulhumale', Tropical Biosphere Hotel, Hawks Bricks Factory, Hawks Kiosk Thilafushi Island, Hawks Construction

THE HAWKS PVT. LTD. +960 334 0949

The Hawks Pvt Ltd is one of the leading companies for the import &

info@thehawks.biz

distribution of high-quality fuel in the Maldives. With more than 11 years

www.thehawks.biz

experience in the area of fuel supply and an exceptional attention to the needs of their clients, the company has developed an extensive portfolio ranging from fuel delivery & related services to construction, transportation, and activities in the hospitality industry. The Hawks team, established in 2007 by chairman Mr. Ahmed Rasheed Hassan, is fully trusted by its clients and continuously eager to design new services. The exceptional customer service, on time delivery, and highest standards for all services provide the ultimate satisfaction to clients from the northernmost to the southernmost parts of the Maldives.

PRODUCTS & SERVICES: The Hawks focuses on the supply of diesel and petrol to any business and location in the Maldives. Bunkering services are provided domestically and internationally to safaris, cargo ships, fishing vessels, yachts, cruiser and navy vessels at harbors and Exclusive Economic Zones. The extensive business portfolio includes bricks manufacturing, boat yard services, sea transportation with 6 speed boats, 5 ferries and 2 cargo vessels, and the Hawks Hotels on Kamadhoo and Hulhumale.

Trans Maldivian Airways CEO / MANAGING DIRECTOR

A.U.M. Fawzy

YEAR STARTED

1989

EMPLOYMENT

1000

INDUSTRY

Aviation

OWNERSHIP

Private Held

Trans Maldivian Airways is a domestic Sea Plane Operator, operating a fleet of 52 DHC-6 Twin Otter Aircraft, connecting the many island destinations in the Maldives. TMA is considered to be the pioneer of the aviation industry in the Maldives and has served as the backbone of tourism infrastructure for over 25 years. In December 2017, TMA was acquired by Bain Capital Private Equity, a global private equity firm headquartered out of the US, in association with Tempus Group, a Chinese tourism focused conglomerate from its previous shareholders TRANS MALDIVIAN AIRWAYS +960 331 5201 bd@transmaldivian.com www.transmaldivian.com

led by Blackstone. Since its establishment in 1989, from being the oldest air services operator in Maldives, TMA has grown to become the largest Seaplane Operator in the World.

PRODUCTS & SERVICES: Services include: resorts transfers, transfer of passengers to and from contracted resorts; photo flights, the standard scenic photo flight package includes a 15 minute flyover starting and finishing at the airport; private charter, dedicated flights to and from any destination of preference, mainly for VIP customers. TMA has 1 VIP aircraft and 1 VIP air-conditioned aircraft. Moreover, passenger evacuation flights are provided upon requests for medical emergencies.

TTS Group Maldives CEO / MANAGING DIRECTOR

Mohamed Nabeel

YEAR STARTED

2013

EMPLOYMENT

75

INDUSTRY

Logistics

OWNERSHIP

Private Held

SUBSIDIARIES

Nautical Maldives Pvt Ltd, Super Logistics Pvt Ltds, One World Logistics Pvt Ltd

Total Transport Solutions Group Maldives (TTSG Maldives) is one of the largest end-to-end logistics services providers in the Maldives, serving for over two decades. At present, TTSG constitutes to over 65% of the container throughput handled at Maldives Ports Limited and holds a TTS GROUP MALDIVES PVT LTD

market of 28% of the inbound courier volumes in Maldives. TTSG is

+960 301 1888

privileged to be associated with networks specialised in Project Cargo

info@ttsgroup.com www.ttsgroupmaldives.com

Handling, Relocations, and Removals as exclusive representatives in Maldives. The Group has shown significant growth since inception and attributes its success to the highly skilled and dedicated team personnel who work round the clock in keeping our customers delighted at all times.

PRODUCTS & SERVICES: We are a liner agency representing largest shipping lines in the world, air lines cargo sales agency representing top airlines lines in the world, air express courier services partnering world’s largest express freight company, international freight forwarding representing globally renowned networks, relocation & removal solutions, inter-atoll logistics, vessel husbanding & sea marshalling, customs brokerage & clearance services, and project cargo logistics.

Universal Enterprises CEO / MANAGING DIRECTOR

Ahmed Umar Maniku

YEAR STARTED

1978

EMPLOYMENT

4500

INDUSTRY

Tourist Resorts

OWNERSHIP

100% Local (Private Held)

Universal enterprises is the pioneering force that transformed the Maldives from obscurity into one of the world’s most sought-after travel destinations, while actively diversifying across industries and service sectors. In the 1960’s, an international development survey claimed the Maldives unsuitable for tourism. Few would have disagreed: the pristine archipelago was indisputably breathtaking, but with little national infrastructure to speak of. Nonetheless, a handful of like-minded UNIVERSAL ENTERPRISES +960 332 3080 www.universalresorts.com

entrepreneurs believed otherwise They could not have predicted the extent to which the Maldives would grow as a tourist magnet, but their bold initiative jump-started the development path that has placed the island nation on the map as one of the most desired travel destinations in the world.

PRODUCTS & SERVICES: Born as a travel specialist, powered by a strong entrepreneurial spirit.

As a small band of entrepreneurs, we piloted tourism in the Maldives in 1972, hosting the first ever organized group tour to the islands and building its first resorts in the following month. Flash forward 35 years; from a group of localized travel specialist to a diversified conglomerate employing close to 4000 individuals, Universal Enterprises has become as fundamental a presence in the Maldives tourism and travel landscapes as the powder white sands of the islands, with numerous business encompassing several industries from travel services to trading, manufacturing, and real estate. Universal Enterprises continues to be a pivotal force, creating dynamic resorts, developing human resources, and promoting sustainable tourism.

VAM & Company CEO / MANAGING DIRECTOR

Ahmed Zubair Adam

YEAR STARTED

1998

EMPLOYMENT

60

INDUSTRY

Marine Equipment and Services

OWNERSHIP

100% Local (Private Held)

VAM & Company began as a sole trader business in 1979, and was incorporated as a private limited company in 1998. Since then VAM & Company has grown to become one of the largest dealers of marine equipment and products in the Maldives today. We provide marine solutions to sectors such as the fishing industry, tourism industry and ferry and transport services. VAMCO prides in being a one stop solution for all your boating needs.

VAM & COMPANY PVT LTD +960 334 7055

PRODUCTS & SERVICES:

marketing@vamco.com.mv

VAM & Company is one of the largest distributors of marine engines,

www.vamco.com.mv

generators, steering systems, gear systems, compressors, nitrox systems, GPS, fish finders, lubricants, coolants, batteries, filters, pumps, ropes, anchors, fenders, and other marine equipment. Our product range includes numerous premier brands from around the world. Through VAMCO’s Service Centre, we offer repair and maintenance services to almost all types of vehicles, mechanical and electrical goods in addition to offering efficient and timely aftersales services to goods sold by VAMCO.

VB Brothers CEO / MANAGING DIRECTOR

Hassan Shiyam

YEAR STARTED

2002

EMPLOYMENT

114

INDUSTRY

Wholesale and Retail Trade

OWNERSHIP

100% Local (Private Held)

Today we have not only risen to the challenge set forth by our founders, but are currently recognized as one of the pioneers of trade at a national level, and have expanded significantly with outlets and distribution networks in strategic locations in and around the Maldives. Although we understand that every aspect of our business has changed and grown, we have managed to maintain our founder’s core vision to provide quality, globally renowned, and trusted everyday products to a highly VB BROTHERS PVT LTD +960 334 3840 +960 333 6522 info@vbbrothers.com.mv www.vbbrothers.com.mv

dispersed community of people. Most of the product brands we carry are instantly recognizable, and evoke a sense of emotional attachment through prolonged use and familiarity.

PRODUCTS & SERVICES: Throughout our history, we have strived to provide quality everyday products at fair value. The first international brand we acquired was Johnson & Johnson, one of the most trusted and recognized brands globally. This has continued to dictate all our future acquisitions, making our portfolio of products one of the most consistent and wide ranging in the local market. Our exclusive brands are Johnson & Johnson, Kellogg’s, L’Oréal, Garnier, Mars, Oriental, Wrigley’s, and many more.

Villa Shipping and Trading Company CEO / MANAGING DIRECTOR

Ibrahim Siyad Qasim

YEAR STARTED

1986

EMPLOYMENT

4008

INDUSTRY

Tourist Resorts

OWNERSHIP

100% Local (Private Held)

Villa Shipping and Trading Company Pvt. Ltd. (VSTC) is one of the largest private companies in the Maldives. Mr. Qasim Ibrahim founded the company in 1986 to manage the trading and shipping interests. In 1988, VSTC poured its profits from its trading operations into the resort industry. The company operates five resorts with 2008 beds and carries VILLA SHIPPING AND TRADING COMPANY PVT LTD +960 333 3300 info@villa.com.mv www.villa.mv

out trading operations supported by a shipping fleet of 8 cargo ships and tankers.

PRODUCTS & SERVICES: We at Villa Group are committed to bringing the trade and tourism industries to new heights by understanding customer needs and delivering

and

developing

distinctive

services

that

exceed

all

expectations. We have invested in major business industries in the Maldives such as education, aviation, fisheries and travel services.

Also, we are one of the leading companies who took the initiative to provide courses affiliated with other major universities to students in the Maldives.

Voyages Maldives CEO / MANAGING DIRECTOR

Salah Shihab

YEAR STARTED

1980

EMPLOYMENT

95

INDUSTRY

Travel Agency

OWNERSHIP

100% Local (Private Held)

Voyages Maldives is your one stop shop for all your travel needs to the Maldives, whether you are a Tour Operator, Airline Operator or an individual traveler visiting the Maldives. Although specializing in ‘Dhoni’ Safari programs, which include Cruising, Diving and Surfing Safaris, Voyages Maldives also provides Ground Handling services to Tour Operators, Supervision & Representation for airlines and travel solutions to/from anywhere in the world. We have a highly qualified team working VOYAGES MALDIVES PVT LTD +960 332 2019

very closely with all the resorts in the Maldives to provide you with the best tour option here in the Maldives. The preferred way of experiencing

info@voyagesmaldives.com

the most beautiful islands in the world – the Maldives is certainly in the

www.voyagesmaldives.com

care of Voyages Maldives.

PRODUCTS & SERVICES: Boat Safari Programs - we own and operate 7 Safari Boats of different categories and sizes for the purpose of liveaboard holidays, handled by our Safari Operations team. Our airport team handles air charters and ground/passenger handling. Our Tours department handles resort reservations, cruise handling and airline representation. We also own an exclusive holiday resort in Ari Atoll, Diamonds Athuruga, managed by a Swiss firm.

BANK OF MALDIVES, YOUR PARTNER IN BUSINESS GROWTH Tailored Financial Solutions 

Business Accounts MVR | USD | EUR



Trade and Treasury Solution



Project Finance



Terms Loans and Working Capital Finance



Advisory Services



Digital Banking Solutions



Relationship Managers and Product Specialists

For more information on our products and services, please contact your Relationship Manager (RM) or our Corporate Banking Division: Tel: +960 330 0550, Email: corporatebanking@bml.com.mv