L e a d i n g
C o m p a n i e s 2 0 1 7
o f
M a l d i v e s
/ MTCCPlc
/ mtcc.plc
/ mtccplc
VISION To become the most dynamic Maldivian company with a global reach, delivering total solutions in contruction, transportation and trading with excellence
MISSION Maximize shareholders wealth by making our products and services most trusted and admired
Contributing towards the development of infrastructure and transport services in the Maldives
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AKHMEEM ABDUL RAZZAQ
M7 PRINTS
Managing Director
Printing Partner
DR. HUSSAIN SUNNY UMAR Chief Executive Officer Contributing Writers
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Shop no 1/29, 4th Floor, Chaandhanee Magu Male’, Maldives
NASHAATH
T: (960) 301-1720
IBRAHIM AREEF
Creative Director
CTL STRATEGIES MALDIVES MONETARY AUTHORITY CAPITAL MARKET DEVELOPMENT AUTHORITY
Director
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AHMED IYASH Photography - Dynamyst Design Direction - Creative Tuna
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AMINATH REESHA FATHMATH MAISAAN HAIFA SALIH ISMAIL MUSHAAN ADNAN
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ENDORSING PARTNER
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Publisher’s Note Welcome to the second edition of Corporate Maldives “Gold 100” magazine, the annual listing of the leading 100 companies in the Maldives. With the spectacular success of the first Gold 100 Gala night held last year in Kurumba Maldives and the positive reactions from the partners, award winners and participants, the Corporate Maldives team was determined to ensure the second Gold 100 event would surpass the first in every way. As you are no doubt aware, “Gold 100” is the first initiative of its kind in the Maldives. The idea for Gold 100 is not to rank businesses, but rather to provide an alphabetically sorted list, categorized by industry, of the leading 100 business entities in the country. The eligibility criteria ranges from years in operation, scale of operations, successful innovations introduced to specific industry, to creative CSR efforts and, of course, compliance with the law. This year we have brought some changes to the criteria to ensure a more stringent selection process, ensuring only the very cream of the crop are eligible to be on this prestigious list. As with the previous year, in addition to awarding the Gold 100 companies, Corporate Maldives will also recognize two visionary business leaders with Lifetime Achievement Award. This year the Lifetime Achievement Awards goes to Mr. Mohamed Waheed Deen, the Managing Director of Orchid holdings; and Mr Ahmed Nazeer, Director and founding partner of Crown Company. These two gentlemen, role models for every budding business executive in Maldives and pioneers of the tourism industry who have contributed greatly to raising the economic status of the country to the level the country has enjoyed in recent years, are national treasures that need to be recognized and appreciated by the entire nation. As before, this undertaking was an extraordinary task and would not have been possible without the support of our partners who placed their trust and confidence in our team. We hope that “Gold 100” will prove to be a beacon of light for all businesses in Maldives to aspire to greater heights, break through the barriers, and find innovative solutions to new challenges they face this year. Here’s wishing to see the most innovative and creative business entities in next year’s Gold 100. Thank you.
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Contents
03
44
NOTE BY PUBLISHER
LIFETIME ACHIEVEMENTS
07
48
INVESTING IN THE MALDIVES
BANK OF MALDIVES CEO INTERVIEW
11
Country Overview
24
Tax & Legal Consideration
52 GOLD 100 COMPANIES
Investing in the Maldives AN OVERVIEW OF THE INVESTMENT ENVIRONMENT AND KEY TAX & LEGAL CONSIDERATIONS
07
24
COUNTRY OVERVIEW
ESTABLISHMENT OF BUSINESS
11
Introduction
25
Introduction
14
Maldivian Economy in 2017
26
Companies
17
Legal and Regulatory Framework
27
Partnership
19
Financial Sector of the Maldives
28
Foreign Investment
28
Process and time for establishment
29
30
land
39
TAXATION 30
Business Profit Tax
31
Registering for BPT
32
BPT exemptions for business
Rules on foreign ownership of
OTHER TAX CONSIDERATIONS
conducted by owners or characters of aircrafts or ships 32
Rules of Residency
39
Transfer pricing rules
33
Permanent Establishment
39
Tax rulings
34
Non-resident withholding tax
34
Remittance tax
34
Green tax
35
Goods and services tax
36
Registering for GST
37
Double taxation avoidance
40
agreements 37
Tax administration
38
Import Duty
ADDITIONAL LEGAL CONSIDERATION 40
Contract law
41
Employment
42
Large scale foreign investments
42
Intellectual property
01 02
COUNTRY OVERVIEW
Contributed by
MALDIVES MONETARY AUTHORITY, CAPITAL MARKET DEVELOPMENT AUTHORITY & CTL STRATEGIES LLP
Corporate Maldives GOLD 100
Country Introduction 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
12
Photography by: Dynamyst
Corporate Maldives GOLD 100
Secondary conributors to the Maldivian economic growth are Agriculture and Fisheries Industires
Photography by: Dynamyst
Country Introduction Overview
MALDIVIAN ECONOMY IN 2017 The Maldivian economy fared well over the first half of 2017, largely boosted by the strong performance of the highest contributing sectors to the GDP of the country. The tourism sector, which is the single largest contributor to GDP, continued to perform robustly as indicated by
6% of tourist arrival growth was recorded for the period
the remarkable tourist arrival growth of 6% recorded for the period. By the end of the first six months of the year, Maldives achieved nearly half of the tourist arrival target for the year 2017. This significant increase in arrivals was largely contributed by higher number of arrivals from Europe, particularly Russia and Italy, which more than
Maldives achieved nearly half of the tourist arrival target for the year 2017
offset the decline in arrivals from the single largest market, China. The strong performance of the sector was further evidenced by a marked growth of 9% in tourist bednights during the period, which is another key indicator for the sector performance. Looking at other economic sectors, the fisheries sector, which provides the livelihood of many living in the rural areas of the country, showed a marked improvement during the first half of the year. This was evidenced by the significant increase in fish purchases by fish processing companies — a key indicator to gauge the sector performance. Additionally, activity in the construction sector continued to strengthen on the back of easier access to finance and also due to large public infrastructure projects. Further,
Significant increase in fish purchases by fish processing companies
wholesale and retail sector growth was also observed to be strong as indicated by increased lending and imports to the commerce sector. Meanwhile, inflation was contained reasonably well over the first six months of the year. Although the rate of inflation was observed to have accelerated considerably to 3.8%
Inflation was observed to have accelerated considerably to 3.8% during the period
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Corporate Maldives GOLD 100
during the period, from 0.7% in the preceding half, this mainly reflected the base effects of some policy changes. This included the reduction in food subsidies effective from October 2016 and also the upward revision of import duties on cigarettes effective from March 2017. Turning to the overall public finance situation of the
Public Finance situation of the country, also showed signs of improvement over the first six months of the year with a moderate increase in total revenue and a significant decline in total expenditure
country, it also showed signs of improvement over the first six months of the year with a moderate increase in total revenue and a significant decline in total expenditure. The strong growth in tax revenue receipts helped to more than offset the decline in non-tax revenues in the first half. Meanwhile, reflecting the concerted effort to streamline government recurrent expenditure, such expenditures were reduced during the period. A substantial decline was also observed for capital expenditure as a result of lower spending on Public Sector Investment Program (PSIP). With regard to deficit financing, government budget deficit continued to be financed through domestic sources, especially through the issuance of government securities to the domestic market. During the first six months of the year, monetary policy continued to be accommodative, supporting the financing needs of the economy and fostering economic growth of the country. The financial sector was observed to have improved over the period in light of the key indicators of the sector. The banking sector, which holds the largest share of assets of the financial sector of Maldives, also continued to remain strong as indicated by the capital adequacy ratios, asset quality and earnings. The capital adequacy ratios remained high while the asset quality improved over the period with a decline in absolute value of non-performing loans (NPL). The loan portfolio continued to grow robustly while liquidity remained at an adequate level. The banking sectors credit risk was mitigated by adequate provisions that fully cover the NPLs. As the Maldivian economy is characterised by limited resources, its interactions with the international markets is of significant importance. As such, over the first half of
Country Introduction Overview
the year, merchandise exports to the Maldives recorded a significant growth owing to sizable increases in both domestic exports and re-exports. While domestic exports increased due to a growth in earnings from frozen
Domestic Exports increased due to a growth in earnings from frozen skipjack tuna exports
skipjack tuna exports, the increase in re-exports — mainly comprising of jet fuel sold at international airports — stemmed from the pickup in oil prices in the international market. Meanwhile, merchandise imports also increased during the period as a result of the recovery in oil prices and the buoyancy in economic activity. With regard to gross international reserves (GIR), although it followed a declining trend during the first half of the year, the pace of decline slowed towards the end of the period. These developments largely reflected the trends of the usable reserves component of GIR. At the end of June 2017, usable reserves registered a marked growth of 15% as a result of proceeds from a sovereign bond issued by
At the end of
June 2017
the government during the month. Looking ahead, the overall growth outlook for the Maldivian economy is expected to remain healthy in 2017, thanks to brisk performance of the tourism sector, led by the significant improvement in tourist arrivals from the European market. Further, the continued robust expansion of the construction sector, stemming from large infrastructure projects will also prop up overall growth. Meanwhile, the current spike in consumer price inflation is expected to moderate towards the end of the year as the base effect of the policy changes dissipates. The fiscal deficit is expected to remain in a favourable position in 2017 as a result of the continued effort to streamline government recurrent expenditure coupled with an estimated increase in total revenue. In light of these positive developments, monetary policy is set to remain accommodative to stimulate private sector credit and foster economic growth. On the external front, the current account deficit is projected to remain high in the medium term due to higher construction sector – related imports. However, a positive prospect in the tourism sector is expected to help maintaining GIR at an adequate level.
Reserves registered a marked growth of 15% as a result of proceeds from a sovereign bond issued by the goverment during the month.
16
Corporate Maldives GOLD 100
Legal and 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 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.
18
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
Rf Rf Rf RfRf Rf Rf RRf fRf RfRfRf RfRf Rf RfRfRf 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)
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
MONETARY POLICY The
MMA
is
responsible
for
the
formulation
and
implementation of monetary policy in the Maldives. Under 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.
20
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.
22
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02 02
TAX & LEGAL CONSIDERATIONS
Contributed by
CTL STRATEGIES LLP
Disclaimer All the information contributed by CTL Strategies LLP in the “GOLD 100: Investing in the Maldives� is meant to serve as a guide in understanding the domestic legal and tax framework of the Maldives and should not be considered as legal or technical advice. CTL Strategies will not be held liable to any actions taken from, or refrained from, due to reliance on the content provided. Specific technical and/or legal advice must be sought for any matters pertaining to any investment or other commercial undertaking. All the information contributed by CTL Strategies is current upto the date of publication. If you have any queries regarding the information contained herein, or regarding matters pertaining to the legal, regulatory, or tax framework of the Maldives, please contact CTL Strategies.
Tax & Legal Consideration Establishment of Business
Establishment of Business INTRODUCTION
The commercial law prevalent in the Maldives allows for a variety of trading structures for parties interested in doing business in the Maldives. Though, single shareholders companies are currently not allowed, expected changes to the legislation will allow incorporation of offshore companies and single shareholder companies. All entities doing business in the Maldives are required to be registered with the Ministry of Economic Development and where required, registered for tax with the Maldives Inland Revenue Authority.
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Corporate Maldives GOLD 100
COMPANIES Private Limited Companies requires a minimum of two members for the creation of the company.
Maldivian Law allows for the creation of private limited companies with a minimum of two members required for the creation of the company. The business objectives and rules to be followed by shareholders are governed by the Memorandum of Association and Articles of Association. The capital of the company is divided up into shares owned by each shareholder and the shareholder liability is limited
The capital of the company is divided up into shares owned by each shareholder and the shareholder liability is limited to their shareholding and a minimum startup capital of MVR 2,000 or USD 130 is required for registration of a company.
to their shareholding and a minimum startup capital of MVR 2,000 (approximately USD 130) is required for registration of a company. There is no share ownership restriction nor limit on the number of shares held by a foreign individual or company. However, the ministry now requires that any company incorporated under local law must have a Maldivian citizen as a company secretary Foreign companies may re-register under the Companies Act and conduct business as a non-resident business entity. Re-registration of foreign company requires, among other things, a locally appointed representative and a representative office or address.
SOLE PROPRIETORSHIP Companies are required to have a Maldivian citizen as a company secretary.
Foreign individuals cannot register as a sole proprietor under current Maldivian Law.
Tax & Legal Consideration Establishment of Business
PARTNERSHIP The Partnership Act allows for the creation of two distinct types of partnerships
01
General Partnerships
02
Limited Liability Partnerships
These partnerships are comprised of two or
In contrast to a General Partnership, Partners
more partners who have unlimited liability and
of this type of partnership have their liability
are jointly and severally liable for the debts and
capped up to their capital contribution to the
obligations of the partnership. Each partner is
partnership.
recognized as an agent of the other partners of the partnership. The rules governing the partnership and its business objectives are indicated in the Partnership agreement.
Foreign individuals can become partners of both general and limited liability partnerships and no restrictions are imposed on the number of foreign partners in either type. Maldivian law allows legal entities to become the managing partner of a limited liability partnership. Partnerships that fulfil the criteria specified in law may change from general to limited liability partnerships and vice versa upon approval from the registrar of companies.
27
Corporate Maldives GOLD 100
FOREIGN INVESTMENTS Foreign parties looking to carry on with a business in the Maldives must register as a foreign investment with the Ministry of Economic Development.
Foreign parties looking to carry on with a business in the Maldives must register as a foreign investment with the Ministry of Economic Development. The ministry that they are required to register the foreign investment with depends on the nature of the business that the foreign party wants to conduct. Other Registration requirements, business permits and licenses are contingent on the nature of the business to be conducted.
PROCESS AND TIME FOR ESTABLISHMENT Submissions to be made for the creation of a local entity or re-registering a foreign entity must be made to the Ministry of Economic Development.
The documents required for the registration of the available trading structures for investors can be found in the Companies Act, Partnership Act, Business Registration Act and subsequent Regulations. Submissions to be made for the creation of a local entity or re-registering a foreign entity must be made to the Ministry of Economic Development.
Upon
presenting
a
completed
set
of
registration documents, the registration process can be completed within ten to fourteen working days. As both companies and partnerships are within the charge to tax under the Business Profit Tax Act, tax registration can be done subsequently. There are licensed business service agents that can facilitate the registration process and act as an intermediary with the Ministry of Economic Development.
Tax & Legal Consideration Establishment of Business
RULES ON FOREIGN OWNERSHIP OF LAND
The Constitution of the Maldives generally prohibits the foreign ownership of land within the territorial boundary of Maldives.
The Constitution of the Maldives generally prohibits the foreign ownership of land within the territorial boundary of Maldives. However, the 2nd Amendment to the Constitution recognizes acquisition of land based on fulfilment of a criteria set out in the Constitution. As such, foreign entities may be granted freehold rights to land or may enter into an agreement for the development and operation of the project for an unspecified period of time, if they qualify under Article 304 of the Maldives Constitution.
29
Corporate Maldives GOLD 100
Taxation BUSINESS PROFIT TAX Business Profit Tax is payable at 15% on a persons taxable profit, which is calculated by deducting expenses allowed by the Business Profit Tax (“BPT”) Act and Regulation from the total income of that person within a tax year. Non-residents are taxed only from their taxable profits derived from their income attributable to businesses in the Maldives. All business are allowed a tax free threshold of MVR 500,000 (approximately USD 32,425) per year. Registered taxpayers are required to make two interim payments and submit a final tax return and payment to the MIRA for the tax year past. In the case of natural persons, special rules apply and exemption from return submissions may be granted. The BPT Act also imposes a non-resident Withholding Tax (“WHT”) on certain payments made to non-residents at a rate of 10% of the gross amount payable or paid.
Tax & Legal Consideration Taxation
REGISTERING FOR BPT Businesses operating both within and outside the Maldives are taxed on the gross income and profits derived from
01
Registered commercial banks operating in the Maldives within the charge to tax under the Bank Profit Tax Act;
02
Any body, association or public institution approved by MIRA which is established for the purposes such as relief for the poor, promotion of Islam and medical relief;
03
Party to an agreement under the law on foreign investments. In such cases, the company will be exempt from tax under the BPT Act up to the extent as conferred to them under the foreign investment agreement.
business activities in the Maldives. Natural and legal persons that are required to register for tax will be taxed on their taxable income which is calculated by following the rules set out in the BPT Act, BPT Regulation and Tax Rulings issued by MIRA. The BPT Act requires locally incorporated companies and partnerships to register for tax upon registration. Certain entities are exempted from registration to tax. Apart from the Maldives Monetary Authority, they are:
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Corporate Maldives GOLD 100
In case of an individual, that person will be considered a resident in Maldives in a tax year if:
BPT EXEMPTIONS FOR BUSINESSES CONDUCTED BY OWNERS OR CHARTERS OF AIRCRAFTS OR SHIPS The BPT Act allows an exemption from tax to non-resident owners and charterers of aircrafts or ships. This exemption is subject to the rules set out in the BPT Act and Ruling
01
They are in Maldives for 183 days or more in that year
TR-2015/B43 which defines the types of businesses that can qualify and, documentation to be submitted to apply for this exemption. The exemption operates on the principle of reciprocity under which the Commissioner General must be satisfied that an exemption from similar taxes in the non-resident
02
03
They arrive with the intention of establishing residence in the Maldives
They are ordinarily a resident of the Maldives but leave before the end of that year
applicants country will be granted to a resident of the Maldives.
RULES OF RESIDENCY The BPT Act sets out the rules of residency. The residency of a company not incorporated in the Maldives is determined by where the business’ central management and control is located. If the business’ central management and control cannot be determined, the BPT Act deems the place of incorporation of the company as its country of residency.
Tax & Legal Consideration Taxation
PERMANENT ESTABLISHMENTS The BPT act defines a permanent establishment
Also, a person shall be deemed to have
as a fixed place where a business is wholly or
a permanent establishment if:
partly carried on such as:
Place of a management of business
01
Carries on supervisory activities of a worksite, construction, installation or assembly project
02
Has another person working on that persons’ behalf in the Maldives:
Factory Office Warehouse Workshop Farm or plantation
i. Who habitually exercises the authority to conclude contracts; or
Mine, quarry or place of extraction of natural resources
ii. Maintains a stock of goods which he delivers on behalf of that person
Building, worksite, construction, installation or assembly project
iii. Habitually secures orders for that person or any other enterprise controlled by that person
33
Corporate Maldives GOLD 100
NON-RESIDENT WITHHOLDING TAX The BPT act imposes NonResident Withholding Tax on a list of specified payments made to Non-Residents in any tax year at a rate of 10 %
The BPT Act imposes non-resident WHT on a list of categorically identifiable types of payments made to nonresidents in any tax year at a rate of 10%. The tax is to be deducted from the gross payment made or payable and that tax must be paid to MIRA. Interest payments or dividend payments made to nonresident entities are not subject to WHT.
Amounts remitted by foreign employees working in the Maldives are subject to a remittance tax at the rate of 3% of the amount remitted.
REMITTANCE TAX Amounts remitted by foreign employees working in the Maldives are subject to a Remittance Tax at the rate of 3% of the amount remitted. As such, all employers who employ foreign employees are required to deposit their salary and other remuneration into a local bank account.
Tourist establishments such as guesthouses, hotels, and tourist resorts are required to levy Green tax on a per day of stay basis from tourists that stay at those establishments.
GREEN TAX Tourist establishments such as guesthouses, hotels, and tourist resorts are required to levy Green Tax on a per day of stay basis from tourists that stay at those establishments. Guesthouses are required to charge USD 3 per head while tourist hotels, tourists resorts, and tourist vessels are required to charge USD 6 per head.
Tax & Legal Consideration Taxation
GOODS AND SERVICES TAX
The rate of Goods and Services Tax (“GST�) in the Maldives differs based on the sector of business operations. The GST
Taxation rate on Goods and Services:
Act requires businesses operating in the tourism sector to charge tax at a rate of 12% on the value of goods and services supplied. All other businesses that are required to register for GST, but do not operate in the tourism sector, are required to charge tax at a rate of 6% on the value of goods and services supplied. Certain basic household consumables and certain types of domestic and, imported food stuff are zero rated. Certain goods and services such as government registered
12% is charged on the goods and services supplied by the businesses operating in the tourism sector.
utilities and financial service providers are exempt under the GST Act.
6% is charged on the value of goods and services supplied by the business that are required to register but do not operate in the tourism sector.
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Corporate Maldives GOLD 100
REGISTERING FOR GST Any person who conducts a business which falls within the definition of “taxable activity� under the GST Act is required to register for GST if:
01
Total value of goods and services supplied in the past 12 months exceeds MVR 1,000,000
02
Estimated value of supply for the following 12 months exceeds MVR 1,000,000
03
The Person holds an import license
04
The Person conducts a taxable activity in the tourism sector
Tax & Legal Consideration Taxation
DOUBLE TAXATION AVOIDANCE AGREEMENTS The Maldives currently has a Double Taxation Avoidance Agreement with India for the avoidance of double taxation of income derived from international air transport operating between the two nations. The Maldives has also signed a DTAA with the United Arab Emirates, but it has not yet come into force as of the date of this publication.
TAX ADMINISTRATION The Maldives follows a self-assessment system of taxation, which is administered by the Maldives Inland Revenue Authority (“MIRA”).
The MIRA is granted powers of
assessment, enforcement and collection by virtue of the Tax Administration Act. Upon assessment of a taxpayer’s’ liability for a taxable period, the amount assessed by MIRA is deemed final unless the taxpayer objects to the MIRA’s decision. If the taxpayer is unsatisfied with the decision of the administrative review by MIRA, that decision can be contended in the Tax Appeal Tribunal and Appellate Courts in the Maldives. Over the past two years, MIRA has implemented an online return submission and payment system called MIRAConnect. Tourism GST returns, non-resident WHT returns and other tax returns of certain groups of taxpayers categorized by annual income are required to be submitted and payments made via MIRAConnect.
The Maldives follows a self-assessment system of taxation and the Maldives Inland Revenue Authority was created for the primary purpose of tax revenue collection but also collects Non-tax revenue assigned by the relevant government authority.
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Corporate Maldives GOLD 100
IMPORT DUTY
The Constitution of the Maldives generally prohibits
be found in the Maldives Import Export Act and
Businesses seeking to import goods into the Maldives
Amendments to that Act. Businesses must pay all
must first obtain an import license from the Ministry
import duty to customs and can appoint licensed
of Economic Development following which they can
customs agent to act on their behalf to clear
import goods and other items for their business.
goods from customs and other ancillary services.
Though the Maldives is party to the Harmonized System Convention, levies on imported goods can
Photography by: Maldives Ports Limited
Tax & Legal Consideration Taxation
MIRA has the power to issue tax rulings to amend the tax regulations and establish tax principles required for the proper operation of the Tax Acts
Other Tax Considerations TRANSFER PRICING RULES
TAX RULINGS
Currently, there are no specific transfer pricing
The MIRA has the power to issue tax rulings
rules set out in the law. However, the general
to amend the tax regulations and establish tax
approach taken by MIRA is that all transactions
principles required for the proper operation of
must take place on an arm’s length basis.
the Tax Acts. However, MIRA does not issue advance tax rulings.
39
Corporate Maldives GOLD 100
Additional Legal Considerations CONTRACT LAW Matters relating to contract disputes are governed by the Maldives Contract Act. 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.
Tax & Legal Consideration Additional Legal Consideration
41
EMPLOYMENT
State and private sector employment relationships
the main requirements of employee-employer
are governed by the Maldives Employment Act while
relationships, rights of the employee, obligations
excluding employment matters of the Police and
of the Employer. The Maldives has been a member
Armed Forces of the Maldives. The Act also creates
of the International Labor Organization and is party
a separate independent Tribunal – The Employment
to a number of conventions which are in force.
Tribunal – to deal with all employment related disputes that may arise. In general, the Act sets out
Photography by: Rasheed Carpentry & Construction
Corporate Maldives GOLD 100
LARGE SCALE FOREIGN INVESTMENTS The Special Economic Zones Act (“SEZ Act�) is aimed at granting several exemptions and incentives for foreign
01
Exemption from Business Profit Tax
02
Exemption from Goods and Services Tax
03
Flexible Procedures in foreign Employment
04
Exemption from taxes on sale and purchase of land
05
Option to freehold land by companies registered in the Maldives
investment that intend on conducting mega projects and large scale long term investments. The SEZ Act focuses projects which exceed an investment value of one billion US Dollars by granting the project owners and their respective shareholders with certain special privileges and benefits. Some benefits for projects registered with the SEZ Act include:
INTELLECTUAL PROPERTY Trademarks of foreign parties which are registered with the Ministry of Economic Development are registered for exclusive use by that party. The Ministry enforces this rule ensuring that the IP is not utilized by any other business in the Maldives.
About CTL Strategies
About CTL Strategies CTL Strategies LLP is a multi-disciplinary law firm that provides comprehensive legal solutions to both local businesses operating globally and foreign businesses with interests in the Maldives. Its services range from helping local and foreign companies with the inception of their business in the Maldives to advising them on all aspects of any commercial transaction they may undertake. The firm is particularly known for its taxation practice and their advice that encompasses both tax and legal aspects in its solutions to complex commercial transactions. For more information on this guide, particularly in the areas of the legal, regulatory and taxation requirements for businesses investing in the Maldives, feel free to contact CTL Strategies at: Email: ask@ctlstrategies.com Phone: +960 958 8258; +960 777 2564 Website: www.ctlstrategies.com
43
Corporate Maldives GOLD 100
MR. MOHAMED WAHEED DEEN Managing Director of Orchid Holdings
Lifetime Achievement
Lifetime Achievement
Mr. Mohamed Waheed Deen, or more popularly known to as Mr. Deen, is one of the pioneers of the tourism and hospitality industry in Maldives. A humble and soft-spoken man, Mr. Deen got his start in the industry as a public relations person, entertaining tourists who had just started to arrive with the inception of tourism in the country. He worked vigilantly, filling various open positions available at the resort and gaining experience in all aspects of resort operations such as marketing, construction, purchasing, and human resources. Eventually he became the General Manager of Bandos Island Resort and went on to invest in it further to develop the resort on his own after winning a Government bid for the resort. As one of the pioneers of the industry, Mr Deen has worked tirelessly to develop human resources in the country through his resort and several CSR projects that he has initiated. He also manages an NGO, the Institute of Governance and Development, which works towards educating people in the islands. He also served the Government briefly as Vice President of Maldives.
45
Corporate Maldives GOLD 100
Lifetime Achievement
Mr Ahmed Nazeer, founder and a Director and founding partner of Crown Company, is a prominent businessman, entrepreneur, and philanthropist who has served both the Government and private sectors in various capacities throughout his illustrious career. Hailing from Eydhafushi in Baa atoll, Mr Nazeer started working towards achieving his goals at a young age. From a managing a small shop in Male’ to eventually founding his own company that has become one of the most well-known success stories in the country, Mr Nazeer is respected for his extensive knowledge and experience in finance, administration and logistics. In addition to managing his own company, Mr Nazeer also served on the Board of the Maldives Monetary Authority earlier and is currently a Board Member of Maldives Airports Company Limited. He also serves as the Secretary General of Maldives Association of Tourism Industry.
Lifetime Achievement
MR. AHMED NAZEER Director and founding partner of Crown Company
47
CORPORATE MALDIVES
Bank of Maldives CEO Interview
Many countries talk about having “systemically important banks” and as by far the largest bank here, Bank of Maldives certainly falls into this category. BML is the only truly nationwide bank and the institution plays an essential role in supporting so many businesses, individuals and communities. Andrew Healy has been CEO and Managing Director for the past 4 years and during this time, the Bank has seen not only significant business growth but also a huge increase in community investment. We asked Andrew about the Bank’s current status and plans for the future.
Bank of Maldives CEO Interview
49
How do you feel about Bank of
Can you tell more about the Bank’s
Maldives’ position today?
investment in the community?
We’re in solid shape, with most areas of our business
Of course. There are really two sides to this investment.
performing well. This is partly down to the clear strategic
The first involves bringing banking services to the people.
direction set down by our Board but even more so it’s
Historically, many people in the atolls had to travel to
because we have a very capable, committed team who
another island for basic banking services – for example, to
have consistently delivered improvements in business
get cash or to make a payment. That has now changed. In
volumes, service and risk management standards. We’re
2013, we had a BML presence on just 24 islands, whereas
also fortunate to have a large, very loyal customer base
today we’re represented on every single inhabited island via
and we work hard to give them the professionalism and
a branch, ATM or agent. We saw 10 million ATM transactions
value for money they deserve. Of course, in banking you
through our network last year, a quarter of which were
take nothing for granted and we have to stay focused and
deposits which shows how people have adapted to doing
keep our standards high.
their banking differently. In fact, when you consider our mobile and internet banking services, virtually all forms of
What has been particularly pleasing has been our year on
banking are now possible in all parts of the country.
year increase in community investment and it has been our good financial performance that has made this possible.
The second part of our investment program is CSR-type
We invested in more than 50 different community initiatives
initiatives. As I mentioned earlier, we implemented over
last year and we also brought more branches, ATMs and
50 initiatives last year that have benefited communities
agents to the atolls.
right across the country. Initiatives such as the upgrading of computer labs in atoll schools, providing motorized
Has the Bank been proactive in supporting businesses?
wheelchairs and supporting events like the Pink Ribbon Run to raise cancer awareness. These all demonstrate our commitment to the community and this year we’ll do even more - we’ll deliver more than 60 new CSR projects in Male’, in the atolls, in every part of the country. With charities,
Very much so. This is reflected in our growing numbers of SMEs and corporates and by the expansion of our loan book. We’ve been investing in our people, our products and our infrastructure to support businesses. We’ve tripled the number of dedicated business managers we have in place and the year ahead will see 4 dedicated business centres open in Male’, Hulhumale’, Kulhudhuffushi and Hithadhoo. We’ll also introduce some new products to support SMEs of all sizes.
sporting associations, with environmental causes. With organizations that help children, senior citizens and the disadvantaged.
Corporate Maldives GOLD 100
“
“
What has been particularly pleasing has been our year on year increase in community investment and it has been our good financial performance that has made this possible. We invested in more than 50 different community initiatives last year and we also brought more branches, ATMs and agents to the atolls.
Bank of Maldives CEO Interview
51
BML is well known for its use of
There has been talk of the Bank
technology in providing services. Can
expanding overseas. What are your
you tell us a bit more about this?
plans?
Firstly I should say that we have a very capable team
I can’t say too much on this as we must respect the
of
Maldivian
work
with
regulatory approvals process which has yet to be completed.
ensure
our
What I can say is that our main focus will always be on our
customers - individuals and businesses - enjoy banking
home country where our growing business volumes and
services that compare well with other countries. As I
extensive ongoing investment program demonstrate our
mentioned earlier, mobile and internet banking services
commitment. However, overseas expansion makes sense
have helped make banking possible in all parts of the
as it will bring diversification benefits and it will generate
country and really what this means is that people’s lives
revenue to support our investments at home. We’re in the
have been made easier. The days when you needed to
process of applying for a banking license in another Asian
travel to another island to do your banking are essentially
country and if all going well, we’ll be up and running before
over and today, 9 out of every 10 transactions take place
the end of the year.
international
technology
specialists
who
technology
companies
to
using technology - through our Self Service Banking, Card, Internet and Mobile Banking channels. Other recent technology-based investments you may have noticed include our new Customer Service Centre at
Do you have a closing message for your customers?
Male’ Square on Ameenee Magu, which uses iPad-based technology to reduce waiting times. Separately our new USD ATM Centre in Male’ saw USD 300 million in withdrawals
Thank you, yes. I would like to say to our customers that
last year. And more than 50,000 travelers from around the
over the last year, you will have seen us describe ourselves
country benefited from our online dollar booking service
as “Aharenge Bank”, which of course means “My Bank”
which allows them to order online and then collect their
in Dhivehi. This “slogan” is a lot more than a marketing
cash at our airport counter.
initiative. It’s a statement underpinning our bond with you and all the communities we serve. The reason we chose
Of course we must and will continue to invest. Our business
“Aharenge Bank” is because this really is your bank. Yours
customers will soon benefit from a major upgrade of our
because it is owned by you. Yours because 99% of our
business internet banking services. We also have plans
staff are proud Maldivians. Yours because with 260,000
to launch a new mobile wallet product which will make
customers, we touch your lives and your families’ lives. We
it possible to send money abroad using only your mobile
understand we have a tremendous responsibility to you.
phone – no need to visit your Bank, Western Union or to
And we’ll continue to support you, to be at your side when
even leave your home.
you need us.
Corporate Maldives GOLD 100
Gold 100 Companies AAA TRADING AND COMPANY
DAMAS COMPANY
AH BROTHERS
DHIVEHI RAAJJEYGE GULHUN
ADAARAN RESORTS
DHIVEHI VIUGA
ADDU INTERNATIONAL AIRPORT
DIETHELM TRAVEL THE MALDIVES
AHMET AYDENIZ MALDIVES
DTECH COMPANY
ALL H MALDIVES
ENSIS FISHERIES
AL SHAALI MARINE MALDIVES
EURO GLOBAL MALDIVES
ALLIED INSURANCE
FAHAMAS GROUP
AMANA TAKAFUL
FALIM GROUP
AMIN CONSTRUCTION
FOCUS COMPUTERS
ANTRAC HOLDING
FUEL EXPRESS MALDIVES
APOLLO HOLDINGS
FUEL SUPPLIES MALDIVES
ASIA FORWARDING
GOLD COIN INTERNATIONAL
ASK HOLDINGS
HANDY HOLDINGS
ASTERS
HAPPY MARKET
ATOLL MARKET
HEAVYLOAD MALDIVES
BANK OF MALDIVES
HORIZON FISHERIES
BISON MALDIVES
HOUSING DEVELOPMENT
BRIGHT BROTHERS
CORPORATION
CANOPUS MALDIVES
HOUSING DEVELOPMENT FINANCE
CAPITAL TRAVEL AND TOURS
CORPORATION
CENTURION TRANSPORT SOLUTION
INTERNATIONAL BEVERAGES
CHANDELIER COMPANY
COMPANY
CITY INVESTMENT
ILAA MALDIVES
CO LOAD ( MALDIVES )
ISLAND AVIATION
COPIER PLUS
ISLANDERS EDUCATION
CROWN AND CHAMPA RESORTS
JAAH
Gold 100 Companies
53
JOHN KEELLS MALDIVIAN RESORTS
REEFSIDE
KAIMOO TRAVELS & HOTEL SERVICES
SALSA INVESTMENT
LEO TRADING
SEAGULL GROUP
LIFE SUPPORT
SHEESHA
LILY INTERNATIONAL
SILVER SANDS
LINK SERVE
SIRIUS ENTERPRISES
M7 PRINTS
SONEE HARDWARE
MALDIVES AIRPORTS COMPANY
SONEE SPORTS
MALDIVE GAS
SPLENDID ASIA
MALDIVES INDUSTRIAL FISHERIES
STATE TRADING ORGANIZATION PLC
COMPANY
SUN FRONT
MALDIVES INFLIGHT CATERING
SUN SIYAM
MALDIVES ISLAMIC BANK
SUNLAND HOTEL
MALDIVES TRANSPORT AND
SUNWILL
CONTRACTING COMPANY
SYMPHONY MALDIVES
MALE AERATED WATER COMPANY
TEP CONSTRUCTION
MALE’ WATER AND SEWERAGE COMPANY
THE HAWKS
MAXCOM TECHNOLOGIES
TRANS MALDIVIAN AIRWAYS
MEDIANET
UNITED DEVELOPMENT
MUNI GROUP OF COMPANIES
UNIVERSAL ENTERPRISES
NALAHIYA TRADING
VAM & COMPANY
NOVELTY PRINTERS AND PUBLISHERS
VB BROTHERS
OOREDOO MALDIVES
VILLA SHIPPING AND TRADING
ORCHID HOLDINGS
COMPANY
PROMUS
VOYAGES MALDIVES
RAINBOW CONSTRUCTION RASHEED CARPENTRY & CONSTRUCTION
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 hotelier in the Maldives for over two decades since its establishment in A.A.A AND TRADING COMPANY PVT LTD
1983 and is a subsidiary company of AAA Trading Company. AAA Hotels
+960 331 7373
has four resorts under its umbrella; Bathala Island Resort, Filitheyo
sales@aaa.com.mv
Island Resort, Medhufushi Island Resort and Hondaafushi Island Resort.
www.aaaresorts.com.mv
VA Pvt Ltd is another subsidiary company of AAA 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.
A.H Brothers CEO / MANAGING DIRECTOR
Hussain Hassan Manik
YEAR STARTED
1991
EMPLOYMENT
130
INDUSTRY
Wholesale and Retail Trade
OWNERSHIP
Private Held
Established in the year 1991, AH Brothers has been a leading hardware wholesale and retailer in the market for over 25 years. Initiated by Mr. Ali and Mr. Hussain, and built on the concept “Find all your hardware in one place”, AH Brothers has been successful in keeping up to its motifs with the support of its employees and customers. Boasting a full range of Hardware, Electrical items, Pipes and Fittings, Power tools & Machinery, Sanitary ware, Paint, Safety wear & Equipment, Building A.H BROTHERS PTE LTD +960 330 5516 +960 331 5782 marketing@ahb.com.mv www.ahb.com.mv
Material- Interior, Paneling and 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 authorized distributor for “Sheetrock” All Purpose Joint compound and dealers of other prevalent brands such as GREENLAND plastics, GUESS sanitary ware, Colourland Paints, Kelani Cables, DNT (Waterproof exterior compound), USHA Fan, Star Brand Gypsum Boards. Brands such as ABB, Hager, Clipsal. PATTA, Dunlop, Hitachi are also available in our outlets. Free delivery is offered throughout Male’.
Adaaran Resorts CEO / MANAGING DIRECTOR
Susith Jayawickrama
YEAR STARTED
2007
EMPLOYMENT
750+
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 - MALDIVES +960 332 3323 marketing@adaaran.com.mv www.adaaran.com
tropical getaway. As of now Adaaran Resorts operates 5 operational resorts operating in 4 different Islands & is gearing to open another 5 star deluxe property in Winter 2018.
PRODUCTS & SERVICES: Each of our properties boasts a travel experience beyond compare. Discover the brilliance of a magical land dominated by turquoise waters and abundant patches of green. Reserve your very own space among our lavish Maldivian resorts and prepare to be swept away by the sights and sounds of an Asian treasure trove brimming with colour and flair.
Addu International Airport CEO / MANAGING DIRECTOR
Ibthishama Ahmed Saeed
YEAR STARTED
2012
EMPLOYMENT
190
INDUSTRY
Aviation
OWNERSHIP
50% Government, 30% Kasa Holdings, 10% Sto, 10% MACL
Gan International Airport (GIA), operated by Addu International Airport Pvt Ltd (AIA), opened its doors for large-scale international operations on 31 December 2016. With over 2,000 beds spread across the region, the airport is the easiest gateway to the resorts, strategically located in the southernmost tip of the sought-after holiday destination. The ADDU INTERNATIONAL AIRPORT PVT LTD. +960 301 7070 +960 689 8010
island of Gan’s rich history includes a stint as a staging post for the Royal Navy during the 1950s, after which it also became an important
info@ganairport.aero
base for the Royal Air Force. The UK handed over the island to the
www.ganairport.com
Maldives Government in 1976. GIA’s evolution continues with plans by management company AIA to build a state-of-the-art, 300-bed resort.
PRODUCTS & SERVICES: The recent upgradation of the airport runway into code E with a length of 3500 meters and a width of 60 meters has allowed the airport to grow, both in traffic figures as well as service quality. Furthermore, Gan International Airport houses a seaplane base operated by the largest seaplane operator in the world, Trans Maldivian Airways. The seaplanes will connect Gan to the Southern Atolls offering a time and cost-efficient service for the passengers. Gan International Airport also offers secure and ample apron parking for Private Jets as well as the best priced and efficient fueling services.
Ahmet Aydeniz Maldives GENERAL MANAGER
Simon Quarrell
YEAR STARTED
2008
EMPLOYMENT
324
INDUSTRY
Tourist resorts
OWNERSHIP
Private Ownership
Recognized by the World Travel Awards as Europe`s Leading Tourism Development Company, Ahmed Aydeniz Maldives Pvt. Ltd. - Aydeniz Group introduces its first property in the stunning Gaafu Atoll, Maldives. This exceptional luxury resort features 122 villas with breathtaking views of the Indian Ocean, six outlets offering world-class cuisine, an extensive spa, scuba diving center and an array of water sports. With superb amenities and impeccable service this 150, 000 square meter AHMET AYDENIZ MALDIVES PVT LTD
island is heaven on earth. Weddings take place just before sunset in one
+960 730 3001
of the most beautiful private wedding chapels in the Maldives set in a
simon.quarrell@ayadamaldives.com
tree-lined garden, or on the beach under a gazebo draped with flowing
www.ayadamaldives.com
material.
PRODUCTS & SERVICES: 24 hour Butler or Guest Relations Services, 7 dining venues and bars, 24 hour In Villa Dining, 3500 sqm Spa Turkish Hammam, Dive Centre, Watersports Centre, Catamaran Sailing, Wind Surfing, Surfing, Stand Up Paddling, Water Skis, Snorkeling, Fitness Pavilion, Yoga Studio, 3 jogging tracks, The Shopping Arcade, Hair salon, Kid’s Club and babysitting services , Clinic, Laundry, dry cleaning and pressing Service, Complimentary Wi-Fi, and Library.
Al Shaali Marine Maldives CEO / MANAGING DIRECTOR
Ahmed Umaru Manik
YEAR STARTED
2006
EMPLOYMENT
90
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 Ltd, AL SHAALI MARINE MALDIVES PVT LTD +960 799 8590 +960 664 6066
Maldives, and has been serving Maldives for more than a decade with its top quality fiberglass boats, and providing other services such as boat design & manufacturing, haulage, fabricating & welding works,
shareef@asmarinemaldives.com
and engine servicing & rebuilding. What makes AS Marine different from
info@asmarinemaldives.com
any other manufacturer is that we take care of our clients the way a
www.asmarinemaldives.com
family would; by offering and maintaining the highest standard of safety and durability on the sea, combining it with an ergonomic design that is simple and natural, thus blending with the organic beauty of sea.
PRODUCTS & SERVICES: AS Marine Maldives is dedicated to delivering a vast variety of services, such as speed boats dhoanis (Island Hopper 50), as well as building a number of boats for overseas customers. AS Marine Maldives has continued to prove itself in the global market, achieving awards and certification for its quality and standards, including the ISO9001, Gold 100 - 2016, Maldives Boating award 2016 & 2017 for best production fiber glass (15m - 40m), Maldives Boating award 2017 for best production fibre glass (5m -24m), and the Best Boat Design of the Year 2017, Dockyard / Slipway of the Year 2017.
ALL H Maldives CEO / MANAGING DIRECTOR
Abdul Hameed Abdul Ghafoor
YEAR STARTED
2004
EMPLOYMENT
25
INDUSTRY
Aviation
OWNERSHIP
Private Owneship
ALL H Maldives Pvt. Ltd. is a company involved in the fields of airline ticketing and representation, construction and cargo. The company was formed in 2004 but was kept as a paper company until 2011. In 2011, the Directors of the company decided to commence work in a full time manner to develop the company. Presently ALL H Maldives is the leading passenger sales agents for Island Aviation Services the “National Carrier” of Maldives. In addition to this, we are the ATSC Agents for ALL H MALDIVES PVT. LTD. +960 300 5577 +960 300 5757 allh@dhivehinet.net.mv www.allh-maldives.com
AirAsia Berhad of Malaysia. Air Asia operates daily flights from Kuala Lumpur to Male’ using the A320 aircraft. From 11 August 2017, Thai AirAsia has also mounted daily flights from Don Muang Airport to Male’.
PRODUCTS & SERVICES: Our main scope of work is acting as a Passenger Sales Agent for Island Aviation Services. We are one of the leading agent in Maldives with an approximate sales volume of MVR4,500,000 (USD290,000) to MVR5,500,000 (USD356,000) per month now and growing. Presently we employ 12 staff dedicated only for Reservations and Ticketing Services. The AirAsia ATSC office is manned by staff of our company and assist customers to book/change/amend bookings on AirAsia flights.
Allied Insurance CEO / MANAGING DIRECTOR
Ahmed Ameel
YEAR STARTED
1984
EMPLOYMENT
189
INDUSTRY
Financial And Insurance
OWNERSHIP
99.99% Sto - 0.01% Maldive Gas
Allied Insurance Company of the Maldives Pvt Ltd is the leading insurance services provider offering total solutions with a comprehensive range of general, life Insurance and Takaful services throughout the Maldives. State Trading Organization Plc (STO) holding 99.99%, and its subsidiary Maldive Gas Pvt Ltd holding 0.01%, are the two respective shareholders of Allied Insurance Company. Allied’s customers include individuals, small to medium businesses, corporate and government institutions. ALLIED INSURANCE COMPANY
The company provides total insurance solutions and caters to specific
OF THE MALDIVES
needs ranging from simple consumer services to complex integrated
Hotline: 1600
business covers for local and global corporate customers with 99%
info@alliedmaldives.net
trained qualified Maldivian employees and the nation’s largest insurance
www.allied.mv
network.
PRODUCTS & SERVICES: We offer a wide array of insurance products for you and your family that would support you in such difficult times. We also offer high-precision insurance solutions, designed to address and meet a wide range of business needs. Our products include: Health Insurance, Life Insurance, Expatriate
Insurance,
Home
Insurance,
Motor
Insurance,
Travel
Insurance, Dive Insurance, Guesthouse Insurance, Cargo Insurance, Hull Insurance, Personal Accident Boat Building Insurance.
Amãna Takaful CEO / MANAGING DIRECTOR
Hareez Sulaiman
YEAR STARTED
2005
EMPLOYMENT
35
INDUSTRY
Financial and Insurance
OWNERSHIP
Public Ownership
Amãna Takaful Maldives PLC has been in operation since 2003 and is a full-fledged licensed General Insurance company in the Maldives. Currently we stand proud as the only publicly quoted insurance company in the Maldives listed in the Maldives Stock Exchange (MSE). The commitment of our staff to provide the highest levels of service, in line with an outstanding portfolio of Takaful insurance solutions has helped us build a robust business based on trust and reliability. The AMÃNA TAKAFUL (MALDIVES) PLC
relationships we have developed with our clients, over the years, stand
+960 331 5262
to bear testament to this. We ensure the best of service is delivered to
info@takaful.mv
our customers.
www.takaful.mv
PRODUCTS & SERVICES: Amãna Takaful Maldives PLC has been engaged mainly with the General class of Insurance. some of our products include: Fire Takaful, Guest House Takaful, Travel Takaful, Marine Hull Takaful, Contractor All Risk, Group Medical Takaful, Dhahanaaa - Personal Accident Cover. In addition to this, we have expanded our reach throughout the country by establishing agents from different islands of Maldives. Our customers can obtain our services via garages and other related service providers.
Amin Construction CEO / MANAGING DIRECTOR
Mr. Abdulla Mohamed
YEAR STARTED
1989
EMPLOYMENT
1620
INDUSTRY
Construction
OWNERSHIP
100% Local (Private Held)
Founded in 1989, Amin Construction Pvt Ltd has built a strong reputation for delivering quality services, on time, and at a competitive price. We pride ourselves on being skilled and experienced in all aspects of civil construction and this, combined with our extensive knowledge of the Maldives construction market, has established us as major players in this industry. Our commitment to innovation and excellence invariably results in successfully completed projects for both contractor and AMIN CONSTRUCTION PVT LTD
client over the past 30 years. We understand and promote the idea
+960 332 4369
of working as a partnership with our clients to ensure their goals are
+960 332 6740
met. Furthermore, enhancing our customer satisfaction, adhering to our
projects@aminconstruction.net www.amin.com.mv
service motto: �Your site the best sight�.
PRODUCTS & SERVICES: We undertake a variety of projects for a wide range of clients from private / government developments to large high level residential projects and resort constructions. Services: carpentry and joinery works since May 1987, building and civil construction since May 1987, timber supplying since 1990, construction of harbour works since 1995, building materials wholesale & retail outlet since 2000, heavy machinery hire and logistics service since 2005, and laboratory and geotech service since 2005.
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
ANTRAC HOLDING PVT LTD +960 331 0096
Antrac Holding Pvt Ltd., was established by Mohamed Hameed with
info@antracholding.com
15 years of experience in Marine and Tourism Industry. He partnered
www.antracholding.com
with Abdul Hannan, also an experienced individual in the Marine, Tourism and Trade Industry. The company is a leading Marine Service provider attending 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 Antrac Holding Pvt Ltd group has a well-diversified and successful business portfolio of Marine Services, Shipping Agency, Operations and Logistical Services, Bunkering & Fuel Supply, Automobile, Luxury Yacht Chartering, Resort Conceptualization and Development, Real Estate and Rental Services of Heavy Machinery.
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. Local distribution channels were laid upon incorporation with outbound logistics capacity of delivery up to island jetty in any part of the Maldives. With the aim to enhance the value chain & to bridge the gap to achieve total logistical solutions company APOLLO HOLDINGS PVT LTD +960 333 5699 info@apolloholdings.com.mv www.apolloholdings.com.mv
invested in an ocean going vessel & a private port at Thilafushi. This part of the operation was commissioned in 2005 with marine cargo carriage solutions from the neighbouring countries India & Sri Lanka.
PRODUCTS & SERVICES: Products: Cement, Co-Sand, Aggregate, Fine Sand, Deform Bar, GI Pipes, Hollow Pipes, Prop Jacks, Plywood, Concrete Mixers, general hardware and etc. The Apollo Holdings Pvt. Ltd. caters to a wide range of general hardware to the locals. Product Range Includes world known brands such as King tony, Asian Paints, Safety Jogger, Hyrax, etc. Services: Stevedoring services, Transport - Total Logistic solutions within the Maldives with our fleet of Landing Crafts and dhoanis. Cargo Storage Services, and Heavy Equipment Rentals Services.
Asia Forwarding CEO / MANAGING DIRECTOR
Ahmed Ziyadh Mohamed
YEAR STARTED
2005
EMPLOYMENT
15
INDUSTRY
Freight Forwarding & Logistics
OWNERSHIP
Partnership
SUBSIDIARIES
Asia Shipping And Logistics Pvt Ltd, Afl Shipping Llc, Asia Groups Pvt Ltd, Asia Forwarding Thailand Ltd
Asia Forwarding Pvt Ltd is a highly reputable freight forwarder, topping the list in the country with strong international recognition at Quality Summit (2012) in New York and European Summit (2013) in Paris. The ASIA FORWARDING PVT LTD +960 334 3041 info@theasiaforwarding.com www.theasiaforwarding.com
company is affiliated with world’s largest and most powerful network of independent freight forwarders, with over 6714 member offices in 193 countries around the world. They are positioned in an efficient global network, determined to expand their physical presence in key strategic locations, especially in the Asia Pacific region, starting with the recently established branch offices in Bangkok and Dubai.
PRODUCTS & SERVICES: Locally certified by the Maldives Customs Services as a registered broker for handling DDU & DDP shipments in the Maldives, Asia Forwarding is specialized in handling project cargo, sea freight and air freight shipments to Maldives. The clients of Asia Forwarding recognizes their strength in the field because of the exemplary technical know-how of the team and the range of additional services provided to their clients. Some of those services include import bond facilities, transport of packing materials, on-site cargo handling services and rental or leasing of warehouse space & storage containers.
Ask Holdings CEO / MANAGING DIRECTOR
Mr. Fazlulla Ibrahim
YEAR STARTED
2004
EMPLOYMENT
41
INDUSTRY
Wholesale and Retail Trade
OWNERSHIP
100% Local (Private Held)
In 2004, with a working capital of MVR 19 million, the late Mr. Ali Sulaiman formed a holding company, named ASK Holdings Pvt. Ltd., with his children and grandchildren as shareholders. As one of the leading importers of hardware and sanitary ware, the Company is managed and run as a family business with family members involved in its senior management positions. Presently, ASK Holdings Pvt. Ltd. is governed by a seven member Board comprising of Mr. Fazlulla Ibrahim ASK HOLDINGS PRIVATE LIMITED
as the Managing Director. The Company’s current trading outlets,
+960 332 1550
popularly known as Albion Store, are strategically located in Maafannu,
info@ask.com.mv
Boduthakurufaanu Magu and Galolhu, Lonuziyarai Magu. The flagship
www.ask.com.mv
trademark store, Albion Store, Boduthakurufaanu Magu, has been in its present location since November 1987. Albion Store is currently the sole distributor in the Maldives for a number of well-known and differentiated exclusive brands.
PRODUCTS & SERVICES: Products: Prima cement boards, Plywood and Block board, Acrylic sheets, Gutter & fittings, Gypsum board, Formica, Furniture fittings & accessories, Paint, Wall putty, Door (Fiber, Aluminium, Engineered wooden), Magnesium board, Foam board, GI Pipe, Tile, Tile adhesive & grout, Tile cutters & accessories, Tile Cleaning chemicals, Sanitary ware & fitting & accessories, Corrugated roofing sheets, Locks, Cornice, PVC Pipe and fittings and more hardware products. Services: Tile cutting and PVC fittings welding.
Asters CEO / MANAGING DIRECTOR
Ibrahim Kaleem
YEAR STARTED
1997
EMPLOYMENT
95
INDUSTRY
Wholesale And Retail Trade
OWNERSHIP
100% Local (Private Held)
Founded in 1997, Asters is the leading provider of high quality and affordable home and office furniture, electronic appliances, technology products and air-conditioning solutions in the Maldives. The company specializes in home and outdoor furniture, office furniture, home appliances, kitchen appliances refrigeration & air conditioning solutions, stationery, office supplies and office equipment. As a leading company, we always act with confidence. We are not afraid to push ourselves to ASTERS PRIVATE LIMITED +960 331 6464 sales@asters.com.mv www.astersonline.com
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 products, services and innovative solutions that satisfy our customers. With this, Asters continues to sustain its growth and success.
PRODUCTS & SERVICES: We offer a wide range of products such as: home and outdoor furniture, office furniture, home appliances, kitchen appliances, consumer electronics, linens, crockery, cutlery, refrigeration and air conditioning solutions, Laptop and PC Peripherals, Peripherals, mobile storage systems, stationery, office supplies, office equipment, and Consultancy Services. We also provide repair and maintenance of electronic products such As Air conditioners, Televisions and Mobile Phones.
Atollmarket CEO / MANAGING DIRECTOR
Ahmed Hafeez
YEAR STARTED
2003
EMPLOYMENT
18
INDUSTRY
Office Automation
OWNERSHIP
Private Ownership
Atollmarket Pvt Ltd is a company established in 2003, dedicated to provide you 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. Today we are the Authorized Sole Distributor and After Sales Service Provider for the brands XEROX and HID GLOBAL in ATOLLMARKET PVT LTD
the region of Maldives.
+960 332 6297
ATOLLMARKET is a well established company, striving to provide better
sales@atollmarket.com
office automated products at better values. The elements of better
www.atollmarket.com
value include more than reliability, reasonable price and customer support. Cost reduction, easier repair and maintenance services, after sales services, advanced technology, warranty, technical expertise and availability of spare parts and products feed into the core elements of better value.
PRODUCTS & SERVICES: Our main products and services includes of Managed Printing solutions, card printers and accessories. We provide consultation in the field of Information Technology helping our customers choosing the most feasible solutions to cater their needs. Authorized Sole Distributors and Authorized After Sales: XEROX and HID GLOBAL. Other Authorized Distributors: Topaz - Signature Pad, Crossmatch - Finger print capture, Contec- Digital signage solutions, Onity card encoders/cards/locks/ programmers, Ubiquiti- WiFi and Network Solutions, 3C Link - Fiber Products, 3CX - Software Based IP PBX Solution.
Bank of Maldives CEO / MANAGING DIRECTOR
Mr. Andrew Healy
YEAR STARTED
1982
EMPLOYMENT
1000
INDUSTRY
Financial and Insurance
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 lend over MVR 3.5 billion this 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 34 branches, 95 ATMs, 5,000 Point of Sale merchants, 230 cash agents, 34 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
Mr. Abdul Majeed
YEAR STARTED
2002
EMPLOYMENT
600-800
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
Incorporated on 24th October 2002, Bison Maldives Pvt Ltd has been engaged in its core business, the construction industry, for almost BISON MALDIVES PVT LTD
two decades. Our business’s range from resort/building construction,
+960 331 5878
aluminium & glass fabrication, retail fashion, and hotel operations.With
info@bison.com.mv www.bison.com.mv
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” Our efforts to protect the environment, advance society, and enrich lives will continue to grow. Construction industry is expected to develop in other directions, and commit ourselves with pride and pleasure in our work and to delight our clients.
PRODUCTS & SERVICES: Bison offers the most comprehensive construction solutions, delivered pitch-perfect by our team of well-trained and seasoned professionals. Currently we are building two more resorts and, our achievement is attributed to proper planning, and seamless execution. Bison developed Cocoon Maldives–the Best Design Resort in Maldives and South Asia–in 11 months. Additionally, we are the Principal Contractor of two properties slated to open in 2018. Bison also deals in aluminium extrusions, and the management and ownership of Reveries Diving Village & Spa.
Bright Brothers CEO / MANAGING DIRECTOR
Abdul Samad Ahamed
YEAR STARTED
1984
EMPLOYMENT
18
INDUSTRY
Wholesale and Retail Trade
OWNERSHIP
100% Local (Private Held)
Today Bright Brothers Pvt. Ltd. is a highly successful, responsive and dynamic company which specializes in providing a well integrated range of air-conditioning services and mass-market consumer products. Since its inception in 1984, Bright Brothers’ history has been one of consistent and successful growth. On 18 May 1997, Bright Brothers was changed from a partnership to a limited liability company, acquiring the name ‘Bright Brothers Private Limited’. The brothers themselves BRIGHT BROTHERS PVT LTD
became working directors of the company. Bright Brothers’ impressive
+960 332 8333
growth report has its roots in its objective to provide exceptional quality
britebro@dhivehinet.net.mv
and value for customers. Bright Brothers has gradually built lasting and
www.brightbrothers.com.mv
mutually beneficial relationships with business partners, suppliers and service providers around the globe.
PRODUCTS & SERVICES: Bright Brothers Pvt Ltd Service Centre: supply, installation and commissioning of refrigeration and air-conditioning equipment, cooling load calculation and designing of air-conditioning systems, supply and installation of pre-fabricated reefer containers, after sales service, preventive maintenance and repairs. Bright Brothers Showcase: Retail of refrigeration and air-conditioning spare parts. Agora (supermarket chain) : retail of mass-market consumer products. Agora Wholesale: wholesale of mass-market consumer products. ARGO was established to provide fisheries, marine and fuel services for fisherman and local communities.
Canopus Maldives CEO / MANAGING DIRECTOR
Mohamed Waheed Hassan
YEAR STARTED
2000
EMPLOYMENT
79
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 business (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 limit risk over the long term. We welcome investors who are committed, consistent and disciplined to talk with us with their business proposals. Our success has always been based on the exceptional quality of our partners and our team.
PRODUCTS & SERVICES: Business ventures: Canopus Maldives: Dhinasha Safari Boat (7 cabin liveaboard),
Maavehi
Residence
(Service
Apartments),
11
room
guesthouse in Hulhumale, and 5 room guesthouse in 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 & Water Sports Center in Thulusdhoo; Canopus Retreats: 12 room beach front property in Thulusdhoo.
Capital Travel & Tours CEO / MANAGING DIRECTOR
Abdulla Riffath
YEAR STARTED
1990
EMPLOYMENT
90
INDUSTRY
Travel, Trade, and Tourism
OWNERSHIP
Private Ownership
Capital Travel & Tours was formed in 1990, specialising in inbound and outbound travel business. Today, it is one of the most trusted, prominent, and leading tour operators in the Maldives, with a wide global network of tour operators and clientele. As a tour operator, Capital Travel is able to provide clientele with resourceful choices and best prices in the market due to its long standing business relations with resorts and hotels, built over the past 27 years. Our trained and CAPITAL TRAVEL & TOURS PVT LTD +960 331 50 89 capital@dhivehinet.net.mv www.capitaltravel.com
experienced staff are committed to attend to every need of business partners and clients diligently and efficiently.
PRODUCTS & SERVICES: Capital Travel offers holiday packages to all the resorts, hotels, and guesthouses in the Maldives. In addition, we also promote and sell safari yacht cruise holidays and private yacht charter services. With our extensive network of partners, we are able to provide our business partners and clients with great discounts and special offers. As part of our customer services, we meet and greet our guests on arrival and departure, and attend to their needs through our 24/7 helplines.
Centurion Transport Solutions CEO / MANAGING DIRECTOR
Aimon Jameel
YEAR STARTED
2010
EMPLOYMENT
103
INDUSTRY
Shipping and Logistics
OWNERSHIP
Major Shareholder: Centurion Plc
Centurion Transport Solutions (CTS) commenced its operation in 2010 as a multi-disciplinary business, and is now well established in Maldives. Centurion group 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 SOLUTIONS PRIVATE LIMITED
related services. The group’s logistics network guarantees that cargo is delivered to the door to any location within the Maldives. Today
+960 3338530
Centurion is operating with three offices in the Maldives covering
info@centurion.mv
Northern and Southern regional ports with more than 100 staffs.
www.centurion.mv
Centurion’s aim is to understand your supply chain needs, strengths, potential, and weaknesses, and to provide strategic recommendations that will help you design and implement integrated transport solutions that bring tangible results to your business. Sister companies: Rohoffe Pvt Ltd, Equatorial Lines Pvt Ltd, and S-Ems Maldives Pvt Ltd.
PRODUCTS & SERVICES: Centurion group provides end to end transport solutions connecting Maldives to the world. As a 3PL service provider, we provide sea freight, air freight, customs brokerage, project logistics, perishable logistics and ware housing solutions. The group runs the largest Perishable Logistics fleet of Boats in the Maldives covering over 10% of the resorts. This service is supplemented by 24 Hrs operational Air Cargo clearance service stationed in the airport and Own clearance gang at Male’ port.
Chandelier Company CEO / MANAGING DIRECTOR
Hassan Hussain
YEAR STARTED
2008
EMPLOYMENT
50
INDUSTRY
Wholesale and Retail Trade
OWNERSHIP
100% Local (Private Held)
Chandelier is a Proprietorship Business established in 1980 & underwent a takeover by Chandelier Company Pvt Ltd in 2008. During the past years of service we have established the company as the leading suppliers of high quality stationery items & consumable office products throughout the Republic of Maldives. The company’s aim is 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 the north to
+960 334 3876
the south of the country. Towards this end we have a dedicated team
sales@chandelier.com.mv
of marketing personnel who are ever-ready to respond to the needs of
www.chandelier.com
our customers.
PRODUCTS & SERVICES: Chandelier Company is the authorized dealer for brands such as Viz Paper One Copier (Indonesia), Campap (Malaysia), Seaking (Singapore), Suremark (Singapore), and Polar Bear (Singapore), etc. Aside from that, we sell various kinds of stationery and office supplies. As far as our clients are concerned, we are dealing with all the prominent Government offices, schools, banks, organizations, hotels and resorts as well as with the private sector.
City Investments CHAIRMAN
Ali Faheem
YEAR STARTED
2005
EMPLOYMENT
180
INDUSTRY
Food Service Activities
OWNERSHIP
100% Local (Private Held)
SUBSIDIARIES
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 CITY INVESTMENTS PVT LTD
the administrative support for City Bakery that was expanding at a
+960 334 2862
fast pace since its establishment in 2002. In addition to City Bakery,
info@city.com.mv www.city.com.mv
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: 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 and Roberts Berrie juices, Trucillo coffee, Cafes Richard teas and coffee, Manna sauces, and WILDALP natural spring 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
70
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 with access to top quality products and brands, and sets the touchstone in terms of customer service in the Maldives. Co-Load is the sole distributor of world-renowned paint brands from CO-LOAD (MALDIVES) PVT LTD
Europe such as Crown Paints, Jotun, Sikkens and AkzoNobel Aerospace
+960 332 0450
Coatings, available in the locals’ favorite paint store, Color Bank. In
admin@coload.com.mv www.coload.com.mv
2011, introduced the firms’ flagship store, the world’s 6th largest franchise, Ace Hardware and Home Centre, revolutionizing the retail trade of Maldives. Currently with two outlets of each 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
P
COPIER PLUS PVT LTD
CEO / MANAGING DIRECTOR
Hassan Muneer
YEAR STARTED
2004
EMPLOYMENT
18
INDUSTRY
Office Automation & Electronics
OWNERSHIP
100% Local (Private Held)
Copier Plus Pvt. Ltd is a total solution provider for copier/printing/ copying/facsimile/Labeling related services and products for businesses in Maldives. It is a Male’ based business. Copier Plus Pvt. Ltd operated under the name of Copier Repair in 1996. Under the sole ownership of Mr. Hassan Muneer , Copier Plus was formed in 2004 to manage scheduling, procurement, press operations, employees and customer service issues for the company. We have a strategy that involves
COPIER PLUS (PVT) LTD.
direct mail and telephone solicitation & social media. To facilitate this
+960 331 2121
marketing strategy, Copier Plus Pvt. Ltd brought on board a number of
info@copierplus.com.mv
qualified employees. With our combined experience, and this industry’s
www.copierplus.com.mv
resilience, we feel that our continued growth coupled with our new marketing strategy will prove a sound business decision.
PRODUCTS & SERVICES: Copier Plus is the Authorized distributor for Brother and Toshiba’s office automation lineup. We are responsible for Maldives 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
3000
INDUSTRY
Tourist Resorts
OWNERSHIP
Private Held
SUBSIDIARIES
Meeru Island Resort And Spa, Vilamendhoo Island Resort And Spa, Veligandu Island Resort And Spa, Kuredu Island Resort And Spa, Komandoo Island Resort And Spa, Hurawalhi Island Resort, Champa Central Hotel
CROWN & CHAMPA RESORTS +960 664 0219 info@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 7 hotel and resorts: Hurawalhi Island Resort, Komandoo Island Resort & Spa, Kudadoo Private Island by Hurawalhi (open mid 2018), Kuredu Island Resort & Spa, Meeru Island Resort & Spa, Veligandu Island Resort & Spa, Vilamendhoo Island Resort & Spa, Champa Central Hotel. Various projects are under consideration in the Maldives, the Indian Ocean and Southeast Asia regions.
Damas Company CEO/ MANAGING DIRECTOR
Abdulla Salih
YEAR STARTED
2001
EMPLOYMENT
191
INDUSTRY
Retail trade, Hospitality, Healthcare, Real Estate
OWNERSHIP
Private Ownership
SUBSIDIARIES
Intal Maldives Pvt Ltd, Damas Real Estate Pvt Ltd, Medica Hospital
Damas Company is one of the most reputed business names in the Maldives. The Company’s business came into being in 1978 and Damas DAMAS COMPANY PVT LTD
Company Pvt. Ltd. was incorporated in 2000. Since its inception the
+960 333 300
Company has grown to become one of the leading businesses in the
azka.hamdhi@damas-co.com
Maldives with a strong customer base made up of resorts and corporate
www.damas.com.mv
clients, public sector and households. Damas continues to create new and innovative lines of business in a range of areas that directly help and support industry and important economic sectors. Its diverse range of businesses include real estate, hospitality, hospitality supplies and logistics in addition to general trading. The Company represents several internationally renowned brand names in the country.
PRODUCTS & SERVICES: Today Damas Company is proud to have one of the most established and extensive distribution infrastructures in the country. The physical makeup of the network consists of the Company’s main warehouses and stores and the retailers’ points of sales dispersed throughout the islands. The link between the hub and the retail outlets is offered through an efficient communication system, kept open by a dedicated team of sales and marketing personnel.
Dhivehi Raajjeyge Gulhun CEO / MANAGING DIRECTOR
Ismail Rasheed
YEAR STARTED
1988
EMPLOYMENT
598
INDUSTRY
Telecommunication
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
54
INDUSTRY
Telecommunication
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 Maldivian based Company that have 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 system integration solution and ip-based services. Security, network application (software) development solutions, design & development of telephone network (digital / IP & analogue), high speed data network, TV network (IP & analogue) and wifi network, network consultation and services, automation and audio/video distribution service, ip-based value-added services, co-location and web hosting services, ip-vpn, and iptv broadcasting. We also provide telecommunications
infrastructure
planning,
equipment
installation, testing, commissioning, maintenance works.
supply,
Diethelm Travel The Maldives CEO / MANAGING DIRECTOR
Howard Brohier
YEAR STARTED
2008
EMPLOYMENT
31
INDUSTRY
Travel agent
OWNERSHIP
Cyprea Group
Diethelm Travel Group is an award-winning inbound tour operator servicing Asia. Our focus on delivery, heritage and local experiences has enabled us to maintain a high level of service, which is reflected in all aspects of our operations. Commencing operations in the Maldives in 2008, Diethelm Travel The Maldives (DTTM) has earned a reputation as DIETHELM TRAVEL THE MALDIVES +960 300 6913
one of the leading destination management companies in the Maldives. We are fully conversant with the way things work in the archipelago. We
howard.b@mv.diethelmtravel.com
employ over 30 multilingual staff and have deep-rooted connections
www.diethelmtravel.com/maldives
with hotels, resorts and tourism authorities. DTTM offers a local presence with two offices in Male City to ensure a smooth vacation. In addition, we have three counters at Male International Airport to meet, greet and assist our clients upon arrival and departure.
PRODUCTS & SERVICES: Our key strengths are: a multicultural team of over 30 professionals for DTTM alone; one of the leading airport assistance teams in the country with more than 14 trained representatives; extensive local expertise; diverse, experience-driven and innovative services designed to handle the destination’s peculiarities; customized travel solutions; an extensive network of 13 fully licensed and insured offices across Asia; and the most cutting-edge technology.
dTECh Company CEO / MANAGING DIRECTOR
Maseeh Imad
YEAR STARTED
1998
EMPLOYMENT
30
INDUSTRY
Technical Services
OWNERSHIP
100% Local (Private Held)
dTECh Company Pvt. Ltd. started in 1998 with an ambition to modernize the industry and this goal is reached within a short period. Today dTECh is the driving force behind the implementation of technical ideas and the predominant player in the industry. dTECh has expanded the service to resorts and other islands. Currently some of the high end resorts in the country are powered by DEUTZ generators. Today water sports gears used in the tourism industry and the private sector in the DTECH COMPANY PVT. LTD. +960 331 2080
Maldives are dominated by one of the premier brands of dTECh namely SEA-DOO. dTECh has taken the hearts and minds of the customers far
info@dtech.com.mv
beyond their dreams and the ambition of giving quality service is a
www.dtech.com.mv
passed challenge.
PRODUCTS & SERVICES: dTECh Company is in the business of both trading and services. Premier Brands in our distributorship are DEUTZ, EVINRUDE and SEADOO besides many other brands of mechanical, electrical and electronic gadgets. The state-of-art Product Showroom cum Spare Parts Center and well equipped service workshop are specially designed for servicing the products we sell. Our services are not limited to our workshop and our service team are always busy giving dedicated services to our customers in Resort and other islands.
Ensis Fisheries CEO/ MANAGING DIRECTOR
Mohamed Waseem Ismail
YEAR STARTED
2002
EMPLOYMENT
445
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)
Established is 1996, Ensis Group now consists of several business ENSIS FISHERIES PRIVATE LIMITED
divisions; Ensis Fisheries, Ensis Realty, Thanburuma Resorts, Enzi
+960 778 6305
Bakery. Ensis international operation consists of Ensis GmbH, Ensam
admin@ensisgroup.com www.ensisgroup.com
USA, and Ensam Lanka. Ensis Fisheries is the main company of the group and proudly the market leader in fresh tuna exports from the Maldives. The company has also branched out into food processing for the local market and its Enzi brand has become household name in Maldives.
PRODUCTS & SERVICES: ENSIS Fisheries is renowned among its customers in Europe for its eco-friendly tuna. Being conveniently located next to Ibrahim Nasir International Airport, ENSIS is able to export fresh with the best quality as required by the Europe and USA markets. To further the expansion of the business, Ensis is building a 25ton per day tuna cannery expected to open mid 2018.
Euro Global Maldives CEO / MANAGING DIRECTOR
Asim Abdul Raheem
YEAR STARTED
2004
EMPLOYMENT
58
INDUSTRY
Other
OWNERSHIP
Private Ownership
We have our factory situated in the 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. This factory also has HACCP implemented. In addition, we have the Dolphin Safe Certificate from Earth Island Institute, ISO 22,000 certification, and BRC EURO GLOBAL MALDIVES PVT LTD +960 779 4320
certification. We also follow SMETA (an ethical standard). Additionally, Euro Global is a company registered in SEDEX and FDA, US. Our
gm.maya@gmail.com
processed tuna is at the moment exported to USA, UK, Canada, and EU
www.euroglobal.com.mv
countries, including France, the Netherlands, Italy, Germany, Spain and Scandinavian countries.
PRODUCTS & SERVICES: Scientific Name: Thunnus albacares Origin: Maldives, Indian Ocean FAO area 51 Catching Method: Hand Line/ Pole and Line/ Long Line Specs: Tuna Whole GG, Tuna Whole HG, Tuna Loin Skinless, Tuna Loin Skin On, Tuna Loin Chunks (Wrapped with Green wasabi, White Paper, Blue Paper, Cloth) Tuna Belly, Steak, Cube. Big Eye Tuna HG, and Loin Skip Jack Tuna GG, Skip jack Tuna Loin Sword Fish HG and Loin Marlin HG, Marlin Loin Reef Fish Whole and Fillet.
Fahamas Group CEO / MANAGING DIRECTOR
Mirusha Abdul Sattar
YEAR STARTED
2000
EMPLOYMENT
25
INDUSTRY
Wholesale and Retail Trade
OWNERSHIP
Private Ownership
Fahamas Group Pvt. Ltd. has been providing various retail and wholesale solutions to the Maldivian market for more than 35 years. Established as a sole-trader business by our Chairman Mr. Abdul Sattar Mohamed, Fahamas Group Pvt Ltd. was one of the first hardware stores in the Maldives. We specialize in a wide range of products including hardware and building materials, electrical items, electrical wiring, home appliances and electrical appliances. Our main vision is to provide a FAHAMAS GROUP PVT LTD +960 334 7979 sales@fahamas.com.mv www.fahamas.com.mv
total solution to our customers and we strive to provide our customers with the best of service. We will not have reached to where we are now without our dedicated team of staff.
PRODUCTS & SERVICES: We specialize in a wide range of products. We are the agents for the brand Orange Electric, a leading Sri Lankan brand providing electrical solutions and a wide range of lighting, electric and electrical wiring products. We are also the agent and sole distributor for Khind-Mistral products, a Malaysian brand specializing in home and kitchen appliances and electrical goods. Other brands include Khaitan fans from India and Fiesta brand from Turkey.
Falim Group MANAGING DIRECTOR
Ahmed Ali
YEAR STARTED
2001
EMPLOYMENT
213
INDUSTRY
Tourism, Education, Construction, Real Estate, and Business Consultancy
OWNERSHIP
Private Held (100% Local)
SUBSIDIARIES
ICS Maldives Pvt Ltd, MAPS Maldives Pvt Ltd, Haza Construction Pvt Ltd, Moodhu Holidays Maldives Pvt Ltd
FALIM GROUP PVT LTD
The Company derives its name from Furahani Ali Manik, the late father
+960 333 7792
of the two brothers, Mohamed Ali Manik and Ahmed Ali Manik, who are
info@falim.com.mv
the shareholders of the group. FALIM was incorporated in 2001 as it
www.falim.com.mv
was deemed necessary to consolidate the various activities undertaken by the different companies under a common policy framework and at the same time 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. These include Moodhu Holidays Maldives (Travel & Tours), ICS Maldives (Business Computerization, Consultancy and Business Management), Maps Maldives (Maps College & Maps International High), Haza Construction (Building Construction, Resort Construction and Remodeling Buildings), and Amina Residency (Real Estate).
Focus Computers CEO / MANAGING DIRECTOR
Ahmed Didi
YEAR STARTED
1994
EMPLOYMENT
40
INDUSTRY
Information and Communication
OWNERSHIP
100% Local (Private Held)
SUBSIDIARIES
Focus Education Center
Focus Computers has more than 22 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 +960 332 1415 info@focuscomp.com www.focuscomp.com
customers
by responding to customers’ needs through delivering
quality service. As an institution we believe in good governance and integrity in dealing with our suppliers, customers and associates.
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
26
INDUSTRY
Wholesale and Retail Trade
OWNERSHIP
100% Local (Private Held)
Fuel Express Maldives (FEM) is a local supplier of 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. By valuing the fact that our customers trust us in delivering reliable service, we never compromise on quality. We have been awarded the best bunkering and fuel supplier of the year 2016, organized by Liveaboard Association FUEL EXPRESS MALDIVES PRIVATE LIMITED +960 300 1717 info@fem.com.mv www.fem.com.mv
of Maldives as well as being selected as one of the best Gold 100 companies of Maldives in 2016.
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
Hussain Didi
YEAR STARTED
2000
EMPLOYMENT
40
INDUSTRY
Fuel Logistics / Boatyard
OWNERSHIP
State Trading Organisation Plc
Fuel Supplies Maldives Pvt Ltd exists to provide fuel and fuel related services and product in Maldives. The company was registered on 18th December 2000, and started its operations from 1st January 2001. Since then, the company’s purpose has been to act as a fuel distribution arm of State Trading Organization PLC. FSM has now diversified its business into the boat building and repairing sector. More than 65% of the fuel imported to Maldives is distributed through FSM. FSM owns FUEL SUPPLIES MALDIVES PVT LTD +960 333 6655 sales@fuelmaldives.net www.fuelmaldives.com
the largest fleet of vessels and vehicles dedicated to fuel distribution in the country. FSM is continuously looking at ways to improve the efficiency of its delivery systems through the introduction of the latest technologies.
PRODUCTS & SERVICES: The main products dealt by FSM are diesel (MGO), Petrol (ULG) and kerosene (JET-A1). FSM is well known in the industry as the provider of the best quality fuel in the Maldives. Additionally, FSM provides fuel related machineries and spares. Our boatyard provides docking and repair services to vessels. Our services include: resort delivery, fuel delivery to inhabited islands, industrial and commercial deliveries and fuel bunkering, providing consultancy in fuel related services, fuel related equipments and accessories, and other maritime services.
Gold Coin International CEO
Abdul Azeez Abdul Rahman
YEAR STARTED
2008
EMPLOYMENT
278
INDUSTRY
Trading / Toursim / Transport
OWNERSHIP
Private Held
Gold Coin International is one of the leading Freight Forwarding & Logistic companies, established to cater to Maldivian businesses, and plays an important role in the development of the Maldivian economy. Today, we are a company operating in Thailand, Maldives, Indonesia, and four cities of China with a team of over 200 highly trained staff, all committed to “getting it right every time”. At Gold Coin International, we take pride in getting the job done as smoothly as possible, and acting GOLD COIN INTERNATIONAL CO LTD, GCI MALDIVES PVT LTD +960 300 0918 info@gcimaldives.com
proactively on our customers’ behalf so that they will have one less step to climb to be on top of their competition.
PRODUCTS & SERVICES:
www.gcimaldives.com www.gcibangkok.com
With a highly trained team of staff, we are fully prepared and geared to offer our customers the following services: freight forwarding services, sourcing products, shipping and trucking, export import services, cargo agent services, and consolidation services. Our logistical capabilities today allow us to handle shipments of any size by air and by sea, in and out of any port in Thailand, China, Hong Kong, Indonesia and the Maldives.
Handy Holdings CEO / MANAGING DIRECTOR
Hassan Haleem
YEAR STARTED
1993
EMPLOYMENT
55
INDUSTRY
Trading / Tourism / Manufacturing
OWNERSHIP
Private Held (100% Local)
Handy® is the visionary and innovative business enterprise of Handy Hassan. Founded in 1993, Handy’s first business venture was a vehicle spare parts shop named “Handy Hard”. With Hassan’s passionate insight into his subject matter and his willingness to take risks combined with his unique business development concepts, Handy created a brand name well accepted among the local community in the Maldives. HANDY HOLDINGS PVT LTD +960 331 0812
Today, Handy is represented in multiple business sectors including manufacturing, tourism, trade, logistics solutions and real estate among
info@handyholdings.com
many others. With its subsidiary companies in Sri Lanka, China and the
www.handyholdings.com
Maldives, Handy is now working towards strategic new investments in tourism, logistics solutions, and manufacturing.
PRODUCTS & SERVICES: Travel & Tourism: a 13 room safari vessel, a 16 room safari vessel, a 45 seat floating restaurant boat a 15 seat speed boat. Logistics Solutions: Landing Craft, Crane, Excavators, Dump trucks, etc for rent. Trade: wholesale and retail of building and construction materials. Service & Repair: vehicle spare parts, service and repair. 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
201
INDUSTRY
Wholesale and Retail Trade
OWNERSHIP
100% Local (Private Held)
Happy Market Trading Company Pvt Ltd 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 HAPPY MARKET TRADING
is dedicated to enhancing all aspects of Maldives via socio-economic
COMPANY PVT LTD
programs, and to focus on environmental stewardship activities for a
+960 331 3523 info@happymarket.com.mv www.happymarket.com.mv
healthier society while committing to build the shareholders’ value by being a 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.
Heavyload Maldives CEO / MANAGING DIRECTOR
Mudrikath Moosa
YEAR STARTED
2003
EMPLOYMENT
200
INDUSTRY
Construction
OWNERSHIP
Private Ownership
SUBSIDIARIES
East Maldives Trading Company Pvt Ltd, Mo Hotels and Resorts Pvt Ltd
Heavy Load Maldives Pvt. Ltd. has an established reputation, providing solutions to complex projects in the coastal/waterfront environments in the Maldives. We have helped clients realize their vision by engineering cost-effective solutions in the design and construction of marinas, HEAVYLOAD MALDIVES PVT LTD
beaches, offshore coastal structures and resort constructions. We
+960 333 0788
have amassed significant experience in managing projects in remote
+960 750 9600 info@heavyload.com.mv www.heavyload.com.mv
locations in the Maldivian Island chains. From initial field investigations in hydrographic surveying and marine resource assessments through permitting, design and construction, we provide clients with a fieldto-finish solution. The project team has broad dredging experience in the Maldives Islands with beach replenishment, marinas and approach channels. Sand searches are routinely conducted to locate beachquality sand for dredging and placement.
PRODUCTS & SERVICES: Some of our professional services include the following: dredging, coastal engineering, waterfront & marinas, civil engineering, surveying & consultation, building construction, machinery rentals, marine transportation, repair and maintenance, logistic management and ship handling, landing crafts and machinery sales, road construction, land reclamation, harbour design and construction.
Horizon Fisheries CEO / MANAGING DIRECTOR
Adnan Ali
YEAR STARTED
2003
EMPLOYMENT
543
INDUSTRY
Fish Processing & Exporting
OWNERSHIP
Private Ownership
With the aim of conducting fisheries related business, Horizon Fisheries started its operation on 16th September 2003, at Maandhoo Fisheries Complex (MFC) located in Laamu atoll. MFC is the largest of its kind in the country where we own a new state of art, world class canned tuna processing factory capable of processing 80MT of raw material per day. Other projects in the site includes a 15MT chilled and super frozen tuna loins plant, 10MT traditional smoked tuna unit, and a 50MT fish meal HORIZON FISHERIES PVT LTD +960 777 7621 sales@horizonfisheries.com www.horizonfisheries.com
plant. Apart from this, at MFC we have a total cold storage capacity of 4000MT including our fleets. We also own a 1000MT capacity floating cold storage, a deep-water berth for shipping and a fishermen’s harbor to meet our processing capabilities. Being the leading fish processing and exporting company, we have been exporting the highest quality Maldives tuna caught by pole and line as a premium product to Europe’s most reputed brands such as Marks & Spencer, Sainsburys, Bell Foods, Migros, Followfood, Rewe, Wholefoods etc to UK, Ireland, Germany, Switzerland, Spain, USA etc for over 9 years. We also do export in our own brand “Rahameeru” to Asian countries including China, Sri Lanka, India, and supplies to local resorts, hotels, restaurants, supermarkets and shops.
PRODUCTS & SERVICES: Canned tuna, Tuna pouch, cooked loins, Chilled and Super frozen loins, smoked/ dried tuna, Fish meal and other by-products.
Housing Development Corporation CEO/ Managing Director
Mohamed Saiman
Year Started
2001
Employment
500+
Industry
Real Estate
Ownership
100% Government
Housing Development Corporation Ltd. (HDC) is a 100% state owned enterprise formed by a presidential decree, initially established in 2001. HDC undertakes and manages the overall planning and building of the reclaimed city of Hulhumalé – the Maldives’ biggest and most ambitious urban development project. HOUSING DEVELOPMENT CORPORATION LIMITED
Currently working towards creating Hulhumalé to become the nation’s first sustainable city, the corporation undertakes projects of hospitality,
+960 335 3535
industrial, recreational, commercial, and residential in nature, while
mail@hdc.com.mv
introducing transformative new opportunities on a scale previously
www.hdc.com.mv
never seen before in the country.
PRODUCTS & SERVICES: Hulhumalé aspires fostering creative entrepreneurship among the youth, stimulating economic solutions and tackling the social challenges faced by the nation. In essence, HDC presents a variety of its own products including community based developments; Central Park, Fehires Park, Indoor Sports Complex, Fahiveni Community Center, as well as commercial and industrial developments such as Green Office Building and Warehouse Shell. Curving a welcoming path for investment, Hulhumalé Phase II, the newly reclaimed addition to the existing conurbation promises diverse development opportunities.
Housing Development Finance Corporation CEO / MANAGING DIRECTOR
Raheema Saleem
YEAR STARTED
2004
EMPLOYMENT
30
INDUSTRY
Financial and Insurance
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 hundred percent shareholding by the Government of Maldives which later in 2008 was privatized with the shareholding from ADB, IFC HOUSING DEVELOPMENT FINANCE CORPORATION PLC
and HDFC Investments Ltd., (India) holding 51% of the share and the 41% of the shares by the Government of Maldives. Having restructured
+960 333 4666
its capital, and with new lines of long-term funding, HDFC re-entered
+960 333 8810
the market for mortgage loans for housing needs of individuals and
info@hdfc.com.mv
families. HDFC is unique as the only mortgage housing institution in
www.hdfc.com.mv
the Maldives.
PRODUCTS & SERVICES: Housing loans for home construction, home purchases, renovation and Islamic facilities for home construction, purchases and renovation. A new initiative under the partnership with the Ministry of Housing and Infrastructure was launched in 2015 with the name of “Gedhoruverikurun”, which is a social scheme MHUD housing loans under social housing schemes - with the partnership of Ministry of Housing and Infrastructure.
International Beverages Company CEO / MANAGING DIRECTOR
Mohamed Naeem
YEAR STARTED
2003
EMPLOYMENT
158
INDUSTRY
Food Service Activities
OWNERSHIP
100% Local (Private Held)
SUBSIDIARIES
Life Premium Drinking Water
Safe drinking water, the essence of life, is a scarce commodity for the people of the Maldives; who rely on the collection of rain water or the quickly depleting underground fresh water lenses. The availability of safe drinking water was a growing concern and it was the intent of INTERNATIONAL BEVERAGES
finding a solution to this problem that led to the establishment of the
COMPANY PVT LTD
International Beverages Company Pvt. Ltd. The company was registered
+960 331 3523 info@ibc.com.mv www.ibc.mv
on 13th August 2003 and opened its first water production plant in Himmafushi, Kaafu Atoll. The IBC production plant located in Himmafushi is fitted with top of the line water treatment technology, desalination equipment and packaging stations. This is where ‘Life’, the premium drinking water is produced and packaged.
PRODUCTS & SERVICES: ‘Life’ is a premium quality, distilled drinking water produced & distributed via IBC. Over the years, ‘Life’ has established itself as a trusted consumer favourite. It is available and utilised at resorts, restaurants, businesses, as well as within households. ‘Life’ comes in the 4 handy sizes: 5 litres, 1.5 litres, 500 ml and 330 ml. These eco-friendly/bio-degradable plastic bottles feature an iconic design with consumer-friendly aspects such as handles & ridges for the ease of transportation & usage.
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 info@ilaamaldives.com www.ilaamaldives.com
role in providing environmentally sound engineering solutions across the Maldives. Our Mission is “To be the leader in providing effective engineering solutions, quality products and excellent service to achieve 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.
Island Aviation CEO / MANAGING DIRECTOR
Abdul Haris
YEAR STARTED
2000
EMPLOYMENT
1075
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 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. Island Aviation Services is committed to providing the highest possible levels of service to its principal airlines and passengers by use of ISLAND AVIATION SERVICES LIMITED +960 333 5566 sales@iasl.aero www.maldivian.aero
automation, modernization and with a trained and motivated team of staff that form an integral part of the business. We ensure our guests discover the unique beauty of Maldives through the best of Maldivian Hospitality.
PRODUCTS & SERVICES: Besides airline services, IAS also provides cargo and lounge services, as well as travel agency services through Maldivian Holidays. 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
Abdul Rasheed
YEAR STARTED
2012
EMPLOYMENT
633
INDUSTRY
Education
OWNERSHIP
100% Local (Private Held)
Islanders Education (IE) is the largest private education provider in the Maldives. In 2008, IE opened Billabong High International School and Kangaroo Kids International Preschool, becoming the first to open a private International School in the capital city, MalĂŠ. In 2012, IE was awarded the largest education development project in the capital city The Ameer Ahmed Education Project, which includes the development of community school, private international preschool and primary school ISLANDERS EDUCATION PVT LTD
as well as a teacher training institute. IE has completed 2 phases of
+960 302 2000
the 4 phase development project (ahead of its intended schedule) and
info@islanderseducation.com
today operates Kangaroo Kids International Preschool (Dream Campus)
www.islanders.education
and Ameer Ahmed Community School (a CSR project) on the Ameer Ahmed Education compound.
PRODUCTS & SERVICES: Preschools: Ameer Ahmed Preschool, Kangaroo Kids International Preschool , Iqra International Preschools. Primary to Secondary School: Billabong High International School. Institutes: Islanders Tourism & Hospitality Academy (ITHA), Islanders Institute of Special Education (IISE). Special Programs: Baby Genius Newborn, Infant & Toddle Routines & Programs. Online Teaching Platform: Hologo AR, Teaching Tube. Foundation: Foundation for A Better Future.
JAAH CEO / Managing Director
Ahmed Jahudhan Jaufar
Year Started
1994
Employment
65
Industry
Wholesale and Retail Trade
Ownership
100% Local (Private Held)
JAAH Pvt. Ltd. (formerly Jausa Trading Maldives Private Limited) was incorporated in the Maldives with the aim of import, export, marketing and trading operations. With the establishment of Jausa Ceramic City (JCC) in Male’ in 1995, JAAH reached new heights in trading of tiling and sanitary-ware by collaborating with industry giants, showcasing the best from the globe in the biggest sanitary-ware showroom in Maldives. After the tremendous trade success, JAAH ventured into JAAH PVT LTD +960 332 9988
the dynamic property development sector with the aim of investing in a range of ambitious projects involved in the multi-dimensional
info@jaah.mv
development of Maldives. Hence JAAH Investments Pvt. Ltd. (formerly
www. jaah.mv
Jausa Investments Private Limited) was founded in 2016 with ‘The Gardens – Exotic Elegance’ being JAAH’s first venture into real estate.
PRODUCTS & SERVICES: JCC provides wide selection of tiling & sanitary ware products from global brands such as Lanka Tiles & American Standard and likes of Soltron for the Energy sector. With resellers in different regions of the country and the ambitious real estate project ‘The Gardens – Exotic Elegance’ gaining momentum, JAAH truly embodies world-class products and services that is unprecedented.
John Keells Maldivian Resorts CEO / MANAGING DIRECTOR
Jit Gunaratne
YEAR STARTED
1996
EMPLOYMENT
628
INDUSTRY
Tourist Resorts
OWNERSHIP
Private Ownership
SUBSIDIARIES
Tranquility Pvt Ltd, Travel Club Pvt Ltd, Fantasea World Investments Pvt Ltd
Representing the largest asset exposure for John Keells Holdings PLC, our Leisure sector encompasses Cinnamon Hotels and Resorts and JOHN KEELLS MALDIVIAN RESORTS PTE LTD +960 333 6000 resorts@cinnamonhotels.com www.cinnamonhotels.com
the destination management arm of the sector, Walkers Tours Limited. John Keells Maldivian Resorts (JKMR) is a 100% owned Subsidiary of John Keells Holdings PLC. JKMR is the Management company of three resorts in Maldives that operates under the brand Cinnamon Hotels and Resorts. They are Cinnamon Dhonveli Maldives, Cinnamon Hakuraa Huraa Maldives, Ellaidhoo Maldives by Cinnamon. Cinnamon is known as a pioneer in the travel and hospitality industry across South Asia since its inception in 2005, and represents a vibrant new Sri Lanka, inspiring you to enjoy life’s best moments.
PRODUCTS & SERVICES: Cinnamon Dhonveli Maldives’ proximity and diversity combine to make it one of the most popular destinations in the Maldives. Cinnamon Hakuraa Huraa Maldives, meaning ‘reef above water’, is located in Meemu Atoll and about 148km from Malé lagoon. While getting to the island may take you a 40-minute seaplane ride, it’s worth it to experience the reef and deep blue sea surrounding this romantic destination. Ellaidhoo Maldives by Cinnamon has a reef which sits on the eastern fringe of North Ari Atoll – the largest of the 22 natural atolls that make up the Maldives. Other Services provided by Cinnamon include spa & wellness services, diving, and surfing.
Kaimoo Travels & Hotel Services CEO / MANAGING DIRECTOR
Mohamed Manih Ahmed
YEAR STARTED
1979
EMPLOYMENT
550
INDUSTRY
Tourism And Investment
OWNERSHIP
100% Local (Private Held)
SUBSIDIARIES
Environmental Pest Control Pvt Ltd, Interlifts Pvt Ltd
Kaimoo Travels and Hotel Services Pvt Ltd is a leading hospitality business in the Maldives. Wholly Maldivian owned, Kaimoo was founded in 1979 and today owns, operates and manages 5 properties KAIMOO TRAVELS & HOTEL
in the Maldives. Kaimoo is committed to staff development, maintains
SERVICES PRIVATE LIMITED
excellent guest relations and continues to be a leader in the industry.
+960 332 2212 kaimoo@dhivehinet.net.mv www.kaimoo.com
Kaimoo is devoted to sustainable development and regularly engages with community development programs.
PRODUCTS & SERVICES: Embudu Village (since 1979) - one of the first resorts opened in the Maldives, Kam Hotel (since 1992) - one of the first city hotels in the Maldives, Summer Island Maldives (since 1996) - initially operated as Summer Island Village, re-branded and opened as 4 star property in 2015, Equator Village (since 1999) - first city hotel in Addu Atoll, Mookai Hotel (since 2002), Mookai Suites (since 2008), Environmental Pest Control Services Pvt Ltd, and Interlifts Pvt Ltd.
Leo Trading CEO / MANAGING DIRECTOR
Mr. Abdulla Sawad
YEAR STARTED
2002
EMPLOYMENT
110
INDUSTRY
Logistics
OWNERSHIP
Private Held
SUBSIDIARIES
Leo Shuttle Pvt Ltd
Maldives is a country consisting of some 1192 tropical islands, of which 200 islands are inhabited and over 100 are resort islands. As the islands are scattered across the Indian Ocean, transportation and delivery of physical items, especially heavy industrial items, were close to impossible to deliver. It was a huge challenge for the Government, in terms of economic and infrastructural development and for the local LEO TRADING PRIVATE LIMITED +960 300 6638 leo@leotrading.mv www.leotrading.mv
businesses, in terms of business growth and development. However, with the keen eye and vision of Mr Abdulla Sawad, Leo Trading Pvt. Ltd. started its operation in the early 2000s, and has prospered into what it is today.
PRODUCTS & SERVICES: Local transportation services (landing craft 200mt - 1500mt, barge and tug, dhonies, ferries, speed boats and buses), heavy construction machineries rentals (crane, dump truck, trailer truck, excavator, compactor,
concreter
mixture,
concrete
pump,
transit
mixture,
etc.) , customs broker service consultation on cargo clearance and discharging shipments, excavating, back filling & compacting, constructing underwater pipe line and sewerage systems, reclamation services , demolition services, construction material supply, and harbor construction services.
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 is a Maldives based importer and distributor of pharmaceutical
products,
hospital
consumables,
and
nutritional
products. With a vision to strive to improve the lives of Maldivian people, we have taken a foothold to work with global brands in representing their portfolio here in Maldives. Today we have successfully positioned ourselves as a complete solution provider in our areas and hence LIFE SUPPORT PVT LTD +960 333 0528
enabling us to become one of the leading service providers here in Maldives. Since its inception, Life Support has gained much ground to
sales@lifesupport.mv
become among the top suppliers of pharmaceutical and consumable
www.lifesupport.mv
suppliers in the market. Life Support functions in the form of four business units, each of which is headed by a GM and a dedicated team.
PRODUCTS & SERVICES: LIFE PHARMA – Retail Arm of Life Support that over sees all outlets. Currently there are four pharmacies in Male and one in Faafu Atoll Nilandhoo. LIFE NUTRITION – Focused on importing the best internationally recognized nutritional products that are available in the market. LIFE CARE – Eliza Medical Center, providing medical services to both physical and psychological diseases and currently specializes in Gynecology, Orthopedics, Internal medicine, Pediatrics and General Medicine. LIFE TRADE – Wholesale arm of Life Support that imports and distributes pharmaceuticals and medical consumables.
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 LILY INTERNATIONAL PVT LTD
significant market player in the wholesale, shipping, tourism and real-
+960 333 2840
estate sectors. We have harnessed nation-wide catering through the
info@lily-international.com www.lily-international.com
establishment of wholesale 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
75
INDUSTRY
Technical Services
OWNERSHIP
100% Local (Private Held)
SUBSIDIARIES
Avastkart, Redbox, Fire Control
Link Serve is the biggest IT Company in the Maldives, with a huge workforce of techs and sector specialists. With 05 state-of-the-art outlets in major customer driven market areas, we operate as the biggest network solutions providers, surveillance equipment providers & maintenance service providers, utilizing a wide range of products within the country. We have expanded our product portfolio with world LINK SERVE PVT LTD +960 334 4555 sales@linkserve.com.mv www.linkserve.com.mv
renowned brands in our extensive list of Enterprise Solutions. With our interest in local developers in the Maldives, we have further enhanced Locally Developed Integrated Software Solutions in key customer demand market areas. Now we are embarking upon our commitment towards a Greener Nation through our Renewable Energy Solutions. We are one family, shaping technology in the Maldives.
PRODUCTS & SERVICES: Security solutions (cctv, access control, door phone systems, alarm systems etc), enterprise solutions (checkpoint, cisco, cyberoam, commvault, veritas, ibm, hp etc), wifi solutions (ruckus, ubiquity, cisco, engenius etc), integrated solutions (hcm software, softqueue etc), renewable energy solutions, smart solutions, dedicated service center (all products), networking solutions, hardware solutions (server, storage etc) we also provide integrated SMART solutions for the education sector combing technology & education.
M7 Print CEO / MANAGING DIRECTOR
Mohamed Abdul Sattar
YEAR STARTED
2007
EMPLOYMENT
76
INDUSTRY
Print & Publishing
OWNERSHIP
100% Local (Private Held)
SUBSIDIARIES
Alfalah 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 Dec 2007 with offset printing and production of eco friendly paper shopping bags. Team M7 is committed to providing reliable products and service at high quality and affordable prices. We deliver uncompromising smart solutions for our customers, M7 PRINT PVT LTD +960 330 7787 admin@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, 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.
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. MALDIVES AIRPORTS COMPANY LTD +960 777 5980 info@macl.aero www.macl.aero
MACL is the operator of Velana International Airport (VIA) the gateway to the Maldives. MACL has embarked on the largest developmental projects in 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 Sea plane Terminal with MRO facilities, along with many other infrastructural developments.
PRODUCTS & SERVICES: 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, and projects planning & infrastructure development services.
Maldive Gas CEO / MANAGING DIRECTOR
Abdulla Maumoon
YEAR STARTED
1999
EMPLOYMENT
211
INDUSTRY
Liquified Petroleum Gas & Accessories
OWNERSHIP
State Trading Organisation Plc, And Champa Oil And Gas Pvt Ltd
Maldive Gas Private Limited is a public-private company established on 3rd October 1999, in union with State Trading Organization and Champa Oil and Gas Pvt Ltd, ceasing consumption of outmoded stoves for the enhanced, eco-friendly gas stoves. Services then extended to include MALDIVE GAS PVT LTD +960 333 5614
supplying medical oxygen to healthcare facilities, as well as gases for industrial purposes. The Company owns four distribution facilities,
info@maldivegas.com
located in Thilafushi, Male’, Villimale’ and Hulhumale’. MGPL has a decade
www.maldivegas.com
of solid business capability, with excellence in the commercialization of its products, sufficing the needs of its diverse constituencies. With the highest superiority in LPG distribution, MGPL is a prime company in the industry, and are spirited to be the largest LPG provider in the Maldives.
PRODUCTS & SERVICES: Aside from supplying and delivering LPG (liquid petroleum gas) securely and ultra-conveniently to the nation, MGPL provides medical oxygen to healthcare facilities, and gases such as Nitrous oxide, Acetylene, Argon, Helium, and Carbon dioxide for industrial purposes. We also market household appliances from internationally renowned brands such as Sanford and Flamingo. The company also maintains corporate contracts with numerous resorts and hotels in the Maldives. Other additional services include cylinder refurbishing, which is critical for the safe carrier.
Maldives Industrial Fisheries Company CEO / MANAGING DIRECTOR
Adley Ismail
YEAR STARTED
1993
EMPLOYMENT
1750
INDUSTRY
Fisheries
OWNERSHIP
State Trading Organisation
SUBSIDIARIES
Marine Maldives Products
Incorporated in 1993, with a directive to market Maldivian fishery to the world stage, MIFCO has been serving and leading the industry, by processing and trading tuna and its value‐added products. While contributing to the Maldivian economy, more than 35000 families MALDIVES INDUSTRIAL
are being supported through the company’s vision to represent the
FISHERIES COMPANY LTD.
sustainable practices employed by generations of local fisherman,
+960 332 3932
instead of an industrial exploitation of natural resources for a
info@mifco.com.mv
commercial benefit. Mifco manages the largest fish procuring operation
www.mifco.com.mv
in the Maldives, collecting Pole and Line and Handline caught Yellowfin and Skipjack Tuna. Mifco owns three EU standard factories processing canned, chilled, frozen and value added tuna which is exported to International markets and sold locally.
PRODUCTS & SERVICES: MIFCO fresh has evolved as a reputable brand in the European market (chilled yellow fin – H&G and GG, chilled yellow fin – chunks, chilled yellow fin – value added products). MIFCO canned tuna and Skipjack is processed from pole & line caught tuna, out of which Skipjack Tuna is MSC certified. Common packaging includes, steaks, chunks in organic sunflower oil, olive oil, soyabean oil, vegetable oil, brine and spring water.
Maldives Inflight Catering CEO / MANAGING DIRECTOR
Mohamed Abdul Sattar
YEAR STARTED
1988
EMPLOYMENT
323
INDUSTRY
Food Service Activities
OWNERSHIP
Private Ownership
Maldives Inflight Catering (MIC), a joint venture between Maldives Airports Company Limited and SATS Ltd, is the leading inflight caterer in Maldives. Based at Velana International Airport, MIC provides airline and private jet catering to our esteemed clients. Our passion to deliver the best services to each of our customers is what drives our firm MALDIVES INFLIGHT CATERING PRIVATE LIMITED
forward in terms of quality and reliability. MIC has more than 29 years of experience serving our customers and we want to continue growing
+960 332 5084
with our customers and partners by creating value for both parties.
stanley_keng@mic.com.mv
Our mission is to be the first-choice provider of food solutions in the
www.mic.com.mv
Maldives by offering innovative solutions with consistent top quality services to our customers.
PRODUCTS & SERVICES: Airline Catering MIC is the first and only airline caterer at the Velana International Airport in the Maldives, with over 29 years of experience in airline catering. We will provide a selection of special meals which are available to accommodate any passengers who have specific medical or dietary needs, religious requirements, or special requests. Our services include VIP & Pvt Jet Catering, Airline Linen Laundry, Hulhule Island Hotel, and Canteen Operation.
Maldives Islamic Bank CEO / MANAGING DIRECTOR
Harith Harun
YEAR STARTED
2011
EMPLOYMENT
135
INDUSTRY
Financial and Insurance
OWNERSHIP
Private Ownership
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 the 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 PRIVATE LIMITED
banking services. MIB plans to expand its services and branch network to other atolls of Maldives. MIB has a vision to become the leader
+960 332 5555
and preferred partner in Shariah banking, and to be an active player
info@mib.com.mv
in promoting the growth and development of Islamic finance in the
www.mib.com.mv
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 and payment gateway services.
Maldives Transport and Contracting Company CEO / MANAGING DIRECTOR
Ibrahim Ziyath
YEAR STARTED
1980
EMPLOYMENT
1726
INDUSTRY
Construction
OWNERSHIP
Government 55.3%, Public 44.7%
SUBSIDIARIES
Maldives Real Estate Investment Corporation Private Limited
Maldives Transport and Contracting Company, (MTCC) was incorporated in 1980, and currently is the longest serving public company in the Maldives. The company was established with the objective to contribute MALDIVES TRANSPORT AND
towards the development of infrastructure and transport service in the
CONTRACTING COMPANY PLC
Maldives. Since then, MTCC has positioned itself as one of the strongest
+960 332 6822
business entities in the country with a diversified range of products
info@mtcc.com.mv
and services, with a work force of over 1700 employees across the
www.mtcc.mv
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 service, and general trading with 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 plethora of reputed products such as, Yanmar and Suzuki marine engines, Hamilton propulsion system, Castrol lubricants, Sigma protective coatings, Marol steering system, XCMG heavy machinery and Scott Bader boat building composite.
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 27 years. We at MAWC exist to benefit and refresh everyone in Maldives by relentlessly striving to exceed the expectation of our customers and MALE' AERATED WATER COMPANY PVT LTD +960 332 9999 sales@mawc.com.mv www.mawc.com.mv
consumers, providing safe and 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
Ibrahim Fazul Rasheed
YEAR STARTED
1995
EMPLOYMENT
662
INDUSTRY
Utility
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 has worked diligently to provide the people of Male’ and outer islands MALE’ WATER AND SEWERAGE
with potable water and manage wastewater sustainably, and at present
COMPANY PRIVATE LIMITED
serves approximately more than 50% of the Maldivian population. With
+960 332 3209
an excellent team of engineers and drive to gain efficiency through
pr@mwsc.com.mv www.mwsc.com.mv
innovative technology, safe water is supplied and wastewater piped out from households on a 24/7 basis. A specialized laboratory that pertains to ISO 17025, is equipped with the latest technology to ensure that the supplied water is of utmost excellence. Having adopted a model of sustainability, MWSC strive to supply customers with value added services and safe water for everyone, always.
PRODUCTS & SERVICES: Today, MWSC has become a multi-disciplinary engineering and manufacturing organization. As a manufacturer, MWSC ventured into bottling operations in 2004. In 2015, MWSC further expanded manufacturing operations by venturing into 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
23
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 Maldives Market, and
+960 333 0037
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: 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
Maldives Cable Net and J-Sat Communications
Medianet is the largest pay-tv broadcaster in the Maldives. The company was founded in 2005 with the merger of Maldives CableNet and J-sat Communications. Based in the capital city Male’, Medianet strives to provide an unparalleled entertainment experience to its customer base. Medianet channel bouquet currently offers more than 85 channels in High Definition as well as over 95 standard definition channels. MEDIANET PVT. LTD.
Medianets channel line-up consists of different genres of high quality
+960 332 0800
digital TV content, a flavor for every taste required. This comprises
customerservice@medianet.com.mv
of English Entertainment, Hindi Entertainment, Infotainment, Sports,
www.medianet.mv
and Children’s Entertainment Channels. Medianet maintains a strong relationship with broadcasters and have thus acquired the license and rights to the best content available in this region.
PRODUCTS & SERVICES: Medianet provides subscribers with extensive content from different genres with live sports and entertainment that premieres same day as the U.S. Medianet's Cable TV Service reaches throughout the country with designated cable services in Male’ and greater Male’ area. Medianet HITS enables subscribers, irrespective of location, to receive the very best of digital cable TV services. With Medianet Cruise, liveaboards within Kaafu Atoll are able to receive cable TV onboard. Additionally, miTV service allows subscribers to tune in using smart devices.
Muni Group of Companies CEO / MANAGING DIRECTOR
Mukhuthar Hassan
YEAR STARTED
2000
EMPLOYMENT
332
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
industry by investing into a diving dhoni under the name of “Muni
www.munihomecare.com
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. In the year 2000, the company started operating under the name of Muni Enterprises Private Limited, along with Mr. Ahmed Shiyam as an additiomnal shareholder of the company.
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 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
520
INDUSTRY
Construction
OWNERSHIP
100% Local (Private Held)
SUBSIDIARIES
Nalahiya Construction
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 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 NALAHIYA TRADING PVT LTD +960 333 1999 info@nalahiyatrading.com www.nalahiyatrading.com
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, customer focus, preserving a high quality of products and services have always been held in high regard.
PRODUCTS & SERVICES: Nalahiya offers an extended product range from basic construction materials to finishing products. Some core products include concrete materials (aggregate, grey cement, white cement, sands, deform bars, etc..), Malayisian 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, Seasplash Maldives Pvt Ltd
NOVELTY PRINTERS AND PUBLISHERS PVT LTD +960 331 8844 info@novelty.com.mv
Novelty started as a back yard business in 1965 using largely manual work, rudimentary machinery and lots of sweat. Through hard work
www.novelty.com.mv
and perseverance, our Chairman Mr. Ali Hussain developed the printing
www.nplus.mv
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.
PRODUCTS & SERVICES: We provide a comprehensive range of commercial printing and publishing in Maldives. Our range of printing includes corporate stationery, accounting stationery, annual reports, brochures and flyers, business cards, 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, and broadband internet, and corporate services tailored to the needs of its consumers and businesses. Guided by its vision of enriching lives and the belief that it can stimulate human growth by leveraging communications to help people achieve more, OOREDOO MALDIVES PLC
Ooredoo has transformed the telecommunications industry for the
+960 961 1000
people of the Maldives. The company has evolved into a full-fledged ICT
929@ooredoo.mv www.ooredoo.mv
company, since receiving its ISP license in 2015. With an aim to open up the vast opportunities of the digital age to all, Ooredoo continues to make strong investments in bringing the world’s latest technologies and innovations to the country. Ooredoo provides the only nationwide 4G+ network in the Maldives.
PRODUCTS & SERVICES: 4G+ Data Connectivity, Mobile & Fixed Telephone, 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 Content Services, Cloud based ICT Solutions for Storage, and Security & Hosting.
Orchid Holdings CEO / MANAGING DIRECTOR
Mohamed Waheed Deen
YEAR STARTED
1987
EMPLOYMENT
549
INDUSTRY
Tourist Resorts
OWNERSHIP
100% Local (Private Held)
SUBSIDIARIES
Bandos Maldives
Orchid Holdings Pte Ltd, established on the 30th of July 1987, is a coowned company of Mr. Mohamed Waheed Deen, Muraka Pvt Ltd, Mr. Collin Syn, Ms. Aminath Shezni Waheed Deen, and Orchid Voyages Pvt Ltd. The company was formed for the purpose of operating Bandos Island Resort and Spa; the second tourist resort opened in Maldives, located in North Male’ Atoll, 7km from the capital Male’. Since the acquisition ORCHID HOLDINGS PTE LTD
of Bandos Island Resort and Spa in the year 1987, Orchid Holdings Pte.
+960 664 0088
Ltd. has made the resort one of the most reputed and leading resorts
info@bandos.com.mv
in the Maldives. In 2015, Bandos Island Resort and Spa was re-branded
www.bandosmaldives.com
as Bandos Maldives, with 215 guest rooms and all modern facilities to cater to the need of customers. At present, there are 549 employees in the company, out of which 387 employees are locals and only 162 employees are foreigners.
PRODUCTS & SERVICES: Orchid Holdings Pte. Ltd’s Bandos Maldives is a well-established 4-star resort in the tourism industry. The resort offers different categories of accommodations including Standard Rooms, Garden Villas, Deluxe Rooms, Jacuzzi Beach Villas, Pool Villa and Water Villas, wide varieties of food and beverage, sports facilities, diving and water sports activities, Spa and wellness programs, excursions, family and kids facilities. The resort also has a large freshwater swimming pool for its guests to enjoy and is blessed with an amazing house-reef just a few meters from the shoreline. Bandos Medical Clinic and Hyperbaric Treatment Chamber are regarded as the best medical facilities in a Maldives resort.
Promus CEO / MANAGING DIRECTOR
Stephen Lau (Chairman Of HPL Hotels & Resorts)
YEAR STARTED
2000
EMPLOYMENT
274
INDUSTRY
Tourist Resorts
OWNERSHIP
Private Ownership
Set on the private island of Lankanfushi in the North MalÊ Atoll, Gili Lankanfushi™, Maldives, is an intimate coral island in a sparkling lagoon, with jetties threading across the water out to spacious villa accommodations, where ultimate privacy can be found, and where Gili stories with lasting memories are made. A place where you arrive as a guest, leave as a friend, and return as family. This luxury resort is just a PROMUS PRIVATE LIMITED +960 664 0304 mr.friday@gili-lankanfushi.com www.gili-lankanfushi.com
20-minute speedboat ride from Velana International Airport. Here, your idyllic personal hideaway is one of our 45 spacious, rustic overwater villas crafted from natural wood and glass. No noise, no distraction and a private, exclusive home that has to be seen to be believed.
PRODUCTS & SERVICES: 45 uniquely designed Over Water Villas, Mr. Friday concept (butler service), Meera Spa, dive and water sports activities, organic garden, wedding champa, library, poolside, Gili boutique and jewellery shop, fitness centre, Gili Veshi (Marine Biology Shack), tennis court, surfing, leisure activities such as sunrise yoga, meditation sessions, variety of water sports, tennis court, volleyball, table-tennis, petanque, jogging, pool table, a large selection of board games, and movie screenings at the Jungle Cinema.
Rainbow Construction CEO / MANAGING DIRECTOR
Ibrahim Rafeeq
YEAR STARTED
2002
EMPLOYMENT
251
INDUSTRY
Construction
OWNERSHIP
100% Local (Private Held)
Rainbow Construction Pvt Ltd (RC) entered the construction industry of the Maldives in the year 2000. RC’s mission is to provide valueadded construction services to their customers by creating a successful partnership with them throughout the construction process. The main career objective of RC is to be committed to achieving excellence in the marketplace by developing a systematic method in managing the projects, and ensuring that projects will be completed with fine RAINBOW CONSTRUCTION PVT LTD +960 334 0400
quality, in a timely manner. Throughout the years, RC has successfully completed a number of projects. In doing so, RC has become an active
hrd@rainbow.com.mv
partner of the Rainbow Group of Companies contributing continuously
www.rainbow.com.mv
to the Group’s corporate strategy of ONE STOP BUILDING SOLUTION.
PRODUCTS & SERVICES: Resort development projects, residential apartments and flats – from 2 storey buildings to 14 storey buildings, real estate development, commercial and infrastructure projects, rental of machineries – some of which include tower crane and transit mixer, sale of ready mix concrete, and sale of major construction materials.
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
Rasheed Carpentry and Construction Pvt Ltd has emerged as one of the most respected general contracting companies in the Maldives. More commonly known as RCC, our business has proved our ability to take on RASHEED CARPENTRY &
large and complex projects to be completed on time, on budget and at
CONSTRUCTION PVT LTD
the highest levels of quality. We have an energetic enthusiasm for what
+960 331 7878
we do, we are sensitive to the needs of our customers, we have the will
info@rcc.com.mv www.rcc.com.mv
to accept total responsibility, and the pride of a craftsman in knowing that what we build will last for generations. Over the years, we have developed multifaceted systems and procedures to ensure control over cost, quality, schedule, scope, and safety.
PRODUCTS & SERVICES: Products & Services: Building Construction - The main business of RCC Pvt Ltd Real Estate. We have more than 10 apartment buildings in Male' and new buildings are being constructed. Aluminum Factory - RCC Provides Aluminum Fabrication service, as well as cladding Buildware (Sale of Construction Materials). RCC Buildware, located at Haveeree hingun. Building Maintenance, Concrete Pump Rental, Ready Mix Concrete.
Reefside CEO / MANAGING DIRECTOR
Hassan Zahir
YEAR STARTED
1976
EMPLOYMENT
113
INDUSTRY
Wholesale and Retail Trade
OWNERSHIP
100% Local (Private Held)
SUBSIDIARIES
Envision Inc. Pvt Ltd , Eco Cool Pvt Ltd
Despite its humble beginnings in 1976, Reefside Company now leads the way for sale of watches and electronics of repute in the Maldives. The company has further gained the trust of their customers by establishing the full-fledged Watch Service Center and Electronics Service Center for quality After Sales Service in the Maldives. Reefside is recognized REEFSIDE COMPANY PRIVATE LIMITED
as a leader in selling original watches and electronic products in the
+960 332 3545
Maldives for 4 decades, with the celebration of their 40th anniversary
Reefside@reefsidemaldives.com reefsidemaldives.com
in 2017. Reefside leads the way in enriching and innovating people's lifestyles, through their commitment to quality, constant innovation, and aim to exceed expectations with regard to customer trust and loyalty.
PRODUCTS & SERVICES: Reefside is the Authorized Service Center for LG, Sony, Bose, Australian Monitor and many branded watches in the Maldives, and offers warranty and local and international after sales Service Guarantee. Reefside aims to go abreast with technology advancement in the maintenance of watches, and steer the company to a status where the clientele is satisfied and confident that the company cares about their time.
Salsa Investment CEO / MANAGING DIRECTOR
Ibrahim Aamir
YEAR STARTED
2002
EMPLOYMENT
89
INDUSTRY
Food Service Activities
OWNERSHIP
100% Local (Private Held)
SALSA INVESTMENT PVT LTD was founded in the year 2002, with a daring vision that would set the new standards for food and beverage facilities and catering services in the Maldives. Over the years, Salsa has gained the trust of their customers and clients, owing to a persistent focus on the quality of service, and the determination to always impress. Even among the veterans in the business, Salsa is duly acclaimed for its flawless operational skills and capability to take on even the most SALSA INVESTMENT PVT LTD +960 334 1933 +960 333 8981 salsainvestment@gmail.com
intimidatingly large events with proper execution and style. When it comes to professional catering, Salsa is the dominating name in town.
PRODUCTS & SERVICES: SALSA ROYAL RESTAURANT: serves Local, Asian and Western cuisines. This is also the main hub for a variety of events such as parties and formal events. SALSA CATERING SERVICE: the most popular catering service in Male' City with the capacity to deliver impressive feats of food service. TOULOUSE BY SALSA: Opened in November 2016 at K. Thulusdhoo. The restaurant attracts a number of tourists visiting the island. SALSA RETREAT: Opened in January 2017 at B. Eydhafushi. This restaurant is very popular among the locals and guests visiting the island.
Seagull Group CEO / MANAGING DIRECTOR
Salah Shihab
YEAR STARTED
1984
EMPLOYMENT
175
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. 30 years of its establishment presents a proud team of diverse proficiency representing 6 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 accoradance with our aim to become the best in the country.
www.seagullmaldives.com
PRODUCTS & SERVICES: Seagull Marine (specialising in selling boats and marine related equipment), two outlets of Seagull Foods (retailing local and imported produce), Seagull CafĂŠ, and two outlets of Seasports (retailing swimming, surf and leisure apparel plus equipment). The company also owns and manages an agricultural and fisheries project, combined with a boat yard (boat building and boat maintenance work), 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
Ibrahim Husham
YEAR STARTED
1987
EMPLOYMENT
104
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 H Dh Kulhudhuffushi that operates under 3S as well. Full after-sales services are provided for SHEESHA PVT LTD +960 334 3362 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 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
400+
INDUSTRY
In-bound travel, Trading, Boat Building and Water sports, excursions & Dive center operator
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. +960 334 2737 info@silversands.com.mv
Silver Sands Pvt. Ltd. has been an inbound travel business since its
www.silversandsdiving.com
inception in 2000. In 2005 it ventured into resort-based recreational
www.silversandstravel.com
activities, including water sports, diving, fishing and all excursions. Currently Silver Sands is operating dive, excursions and water sports centres on W Retreat & Spa Maldives, Anantara Dhigu, Anantara Veli, Naladhu Maldives, Huvafen Fushi, Velassaru Maldives, Shangri-La’s Villingili Resort and Spa Maldives, Robinson Club Maldives, Anantara Kihavah, Niyama Maldives, Jumeirah Dhevanafushi, ST. Regis Vommuli Maldives, Kandima Maldives, Robinson Club Noonu and Vakkaru. In 2013 the company diversified into trading and has opened showrooms in Male’, namely Evo Home, Sea Gear, Evo Solutions, Evo Flooring and Evo Surfaces.
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 SIRIUS ENTERPRISES PVT LTD +960 332 0788 sirius@dhivehinet.net.mv
and Nankang tires. Furthermore, we are among the leading companies in providing speedboat services throughout 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
480
INDUSTRY
Wholesale and Retail Trade
OWNERSHIP
100% Local (Private Held)
Founded in 1970, Sonee Hardware has been a fore-runner 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 6 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.
Sonee Sports CEO / MANAGING DIRECTOR
Ahmed Kaleem
YEAR STARTED
1991
EMPLOYMENT
98
INDUSTRY
Wholesale and Retail Trade
OWNERSHIP
Private Partnership
Since 1991, Sonee Sports has championed its growth from a small corner shop dealing with sports merchandise, to a leading business spanning to various lines of related businesses, including sports performance, lifestyle, fashion, sea and surf, and fitness equipment selling. In its 26 years of existence, Sonee Sports has established and managed over 18 international leading brands in the Maldives. Sonee Sports services its retail as well as wholesale customers from a total floor space of SONEE SPORTS PVT LTD
more than 18,000 square feet. Our intimate understanding of the local
+960 333 5995
consumer markets, customer relationships, and retail experience,
info@soneesports.com.mv
topped up with sales and marketing expertise, has been rewarded with
www.soneesports.com
unquestioned market leadership in sports and fashion, which makes Sonee Sports the partner of choice.
PRODUCTS & SERVICES: At Sonee Sports we deliver branded products, exceptional service, unparalleled customer support, and operational excellence to create the highest value for our customers, employees and suppliers. Sonee Sports are the unquestioned market leaders in most of its chosen line of product categories including sports footwear, football, and exercise equipment. Major brands Sonee Sports distributes include the likes of Adidas, Nike, Quiksilver, Roxy, Rip Curl, Billabong, Cybex, New Balance, Fbt, Mikasa, Bata, and our very own brand K6.
Splendid Asia CEO / MANAGING DIRECTOR
Abdulla Naseer
YEAR STARTED
2006
EMPLOYMENT
29
INDUSTRY
Travel Agent
OWNERSHIP
Private Ownership
Splendid Asia Pvt Ltd, famous for its highly recognizable success in the tourism industry of Maldives, is a bench mark for many rising agents in the travel industry. As a 10 year old travel agency with a global reputation of excellence, among our suppliers and clients, we currently provide complete solution to inbound travelers, with compliancy and versatility for leisure, charters & group tours; main focus being European, Russian & CIS, Chinese, Korean, Japanese and other leading markets across the SPLENDID ASIA PVT LTD
globe, whether the choice of travel facility is a resort, liveaboard or a
+960 331 2460
guesthouse. With a highly capable and energetic team, inclusive of an
info@splendidasia.com
array of multiple skills and ineffable experience in the field, Splendid
www.splendidasia.com
Asia has proven to be able to provide outstanding service to its guests from basic to the best imaginable customized luxury, within the country.
PRODUCTS & SERVICES: Destination Management, Resort/Hotel Booking, City Hotels, Guest Houses, Honeymoon Package, Online Booking System, Customized Holiday Packages, Tours & Excursions, Meet & Greet Service (24/7), Online
Payment,
Weddings,
Exclusive
Resort
Islands,
Exclusive
Guest Houses. Perks of being a Splendid customer: the use of the latest technologies, the only local operator with a completely online reservation system, the ability to connect via XML integration, the variety of destinations to choose from, no handling fees from our clients, 24hr airport staff with an exclusive counter at the premium zone of arrival hall, real time confirmation with invoice, special offers and discounts generated automatically by our online system.
State Trading Organization PLC CEO / MANAGING DIRECTOR
Ahmed Shaheer
YEAR STARTED
1964
EMPLOYMENT
2017
INDUSTRY
General Trade
OWNERSHIP
100% Local
SUBSIDIARIES
Allied Insurance, Fuel Supplies Maldives, Lafarge Maldives Cement, Maldive Gas, Maldives National Oil Company, MIFCO, STO Hotels and Resorts, STO Maldives (Singapore)
STATE TRADING ORGANIZATION PLC +960 334 4333 media@stomaldives.net www.sto.mv
The roots of State Trading Organization Plc, dates back to 1964, when it was opened to finance the purchasing and importation of essential food items needed for the Maldivian community in bulk. Today, State Trading Organization Plc has sustained this crucial responsibility to oversee the food security concerns of the government. State Trading Organization Plc group, with its subsidiaries, joint ventures and associates, is a national leader in business. It also focuses in petroleum, cooking gas, construction materials, medical supplies and pharmaceuticals, home appliances, electronics, supermarket products and insurance. State Trading Organization Plc has entered more areas of trade and other business over the years, in order to meet the growing demands of a developing nation with rising living standards. It has expanded geographically, spun off subsidiaries, and formed partnerships to meet opportunity. It has become a truly diverse business organization.
PRODUCTS & SERVICES: Staple foods, Stores, Fuel and Gas, Construction materials, Electronics, Paints, Cement, Gadgets, Wholesale, Retail, Pharmacies, Insurance, Service Centre, Import and Export, Shipping, Oil Trade Expansion, Fisheries, Tourism, Logistics and Distribution.
Sun Front CEO / MANAGING DIRECTOR
Mohamed Rashad Adam
YEAR STARTED
1989
EMPLOYMENT
190
INDUSTRY
Wholesale And Retail Trade
OWNERSHIP
Private Held (Local)
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 Company Private Limited, which is managed by Sun Front, since SUN FRONT PVT LTD
26th of April 1999.
+960 331 3313
The businesses are operated in the Capital City (Male’) and today, Sun
adminhr@sunfront.com.mv
Front has become a well-known local brand and a stockist, wholesaler,
www.sunfront.com.mv
and retailer.
PRODUCTS & SERVICES: 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 (operating The Sun Siyam Iru Fushi Maldives), Emerald Resort (operating Olhuveli Beach & Spa Maldives), Sun Investments (operating Sun Aqua Vilu Reef Maldives), Lets Travel (operating Sun Aqua Pasikudah, Sri Lanka), Sun Media group, Sun
SUN SIYAM PVT. LTD.
Construction
+960 332 5977 info@sunsiyam.com www.sunsiyam.com
Sun Siyam, made up of a number of companies and primarily involved in the hospitality industry, is incorporated in the Maldives with its sales offices in South Asia, Asia Pacific, and Europe. Being one of the top tax payers of the country and with more than 3000 employees under its able guidance, today, Sun Siyam and its subsidiaries have grown to be 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.
PRODUCTS & SERVICES: Travel Agency, Resort operations, Resort management, Safari operation, Transport services, Media (online news, news magazine & radio broadcasting), Diving centers, Watersports centers, Spa operations, Building & construction, Supply & procurement, Agriculture.
Sunland Hotels CEO / MANAGING DIRECTOR
Shabeer Ahmed
YEAR STARTED
1996
EMPLOYMENT
55
INDUSTRY
Tourist Resorts
OWNERSHIP
100% Local (Private Held)
SUBSIDIARIES
Coco Collection
For more than 30 years, we have been sharing our passion for travel, adventure, and life’s luxuries. Sunland Group is a leading name in the industry, rooted in genuine local hospitality. Under the group, Sunland Hotels originally evolved from a travel agency founded in 1985, to a market leader managing its own world-class luxury brands and destinations in the Maldives. The growth of the company’s operations SUNLAND HOTELS PTE LTD
led to the constitution of Sunland Hotels in 1996. Today, Coco Collection
+960 334 4471
– the luxury portfolio of Sunland Hotels – is one of the Maldives’ most
lulu.aishath@cococollection.com
renowned luxury resort brands.
www.sunlandhotels.com
PRODUCTS & SERVICES: Each island in Coco Collection has its own unique attributes & appeal, and the brand offers a kaleidoscope of experiences. Outside the Coco Collection umbrella, Sunland Hotels group owns and manages Biyadhoo Island Resort. Biyadhoo offers a fascinating glimpse into the simple, yet breath-taking beauty of the Maldives, providing peace and tranquility to the weary soul.
Sunwill CEO / MANAGING DIRECTOR
Abdulla Rafiu
YEAR STARTED
2011
EMPLOYMENT
483
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, and engineering material wholesale, logistical support,
www.sunwillglobal.com
metal 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
construction
include of
construction
residential
or
or
development
commercial
of
resorts,
buildings,
harbor
development, remodeling 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
160
INDUSTRY
Food Service Activities
OWNERSHIP
100% Local (Private Held)
Our roots go back 27 years. Symphony is a product of a passionate dream and a goal. Now a well established brand in the Culinary & Hospitality world of the Maldives, Symphony specialises in Restaurant, Catering and Guest House Business. Our style has a strong classical influence with a modern touch. We are proud to be the oldest restaurant chain and known for pre-eminent services and unchanging taste. Symphony Maldives currently operates and manages 4 restaurant brands, a luxury SYMPHONY MALDIVES PVT LTD +960 333 8719 info@symphonymaldives.com
guest house in Maafushi, and Exlusive Catering. With our dynamic team and prestigious clients, we evolve with knowledge and innovation. Proudly local and practicing hospitality since 1991.
PRODUCTS & SERVICES: Everything to do with dining, hospitality & traveling, including managing and operating a group of restaurants within and outside capital Male', catering for private parties, exclusive catering and government projects, food delivery services, managing and operating a guest house in Maafushi (Crystal Sands Maafushi), managing seaports, speed boat services, arranging excursions and trips to various exotic destinations, and managing various flavors of gelato ice cream in maafushi.
TEP Construction CEO / MANAGING DIRECTOR
Ali Manik
YEAR STARTED
1995
EMPLOYMENT
210
INDUSTRY
Construction
OWNERSHIP
100% Local (Private Held)
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 leasing of modern residential and commercial spaces. With its presence in wholesale and retail of building material, TEPCon Hardware provides quality products ranging from hardware, plumbing, sanitary ware, tiles, TEP CONSTRUCTION PVT LTD +960 332 6787
flooring, kitchen, building machinery, power tools, outdoor furniture, adhesives, paint, light weight wooden boards, electrical wiring, and
info@tep.com.mv
other related products through 5 outlets strategically located in the
www.tep.com.mv
capital city of Male', to serve its ever growing customer base.
PRODUCTS & SERVICES: Residential, commercial & resort construction, boq services, demolition and site cleaning services, building maintenance, remodeling, interior design, construction equipment and vehicle rentals, residential and commercial space rental, wholesale and retail of construction materials and general hardware, home improvement products, home appliances, generators, construction tools and machinery, resort supplies. Sales agent for renowned product ranges from Sancora, Makita, Makitec, Empolo, Showy, V-tec, and Goodsense.
The Hawks CEO / MANAGING DIRECTOR
Hassan Rifau
YEAR STARTED
2007
EMPLOYMENT
200
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, Tropical Biosphere Hotel
The Hawks Pvt Ltd is one of the leading companies for the import & distribution of high quality fuel across the Maldives. With more than THE HAWKS PVT. LTD.
10 years’ experience in the area of fuel supply, and an exceptional
+960 334 0949
attention to the needs of their clients, the Maldivian company has
info@thehawks.biz www.thehawks.biz
developed an extensive product portfolio ranging from diesel and petrol supply and related services to sea transportation and hotel operations. The Hawks Pvt Ltd, founded by chairman Mr. Ahmed Rasheed Hassan in 2007, is fully trusted by its clients, and continuously eager to design new services to the needs of their esteemed clients. The company values highest quality of all their products, delivery on time, and an exceptional customer service.
PRODUCTS & SERVICES: The Hawks Pvt Ltd primarily focuses on the supply of diesel and petrol to any 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 product portfolio includes The Bricks Factory with 10,000 bricks per day, boat yard services, sea transportation with 5 speed boats, 5 ferries and 2 cargo vessels, the Hawks Hotels with the luxury Airport Beach Hotel in Hulhumale', and the Tropical Biosphere Hotel on Kamadhoo island. The company is eager to open the new Fuel Terminal and Fuel Storage on Thilafushi island in the second half of 2018.
Trans Maldivian Airways CEO / MANAGING DIRECTOR
A.U.M. Fawzy
YEAR STARTED
1989
EMPLOYMENT
900+
INDUSTRY
Aviation
OWNERSHIP
Private Held
The world's leading Seaplane Operator with over 25 years of experience, TMA currently owns the World's largest operation of Twin Otter aircrafts on floats. The operation itself is most unique as it is fully customized to the requirement of the customers and have been developing with the growth of the specific demand and requirement of our most esteemed customers. TMA currently holds a fleet of 49 Twin otter aircraft (including 3 VIP configured aircrafts and 1 Air-conditioned VIP configured aircraft). TMA serves over 60 different destinations through out the country. TRANS MALDIVIAN AIRWAYS +960 331 5201 bd@transmaldivian.com www.transmaldivian.com
TMA has also been a major contributor in the Growth of Tourism in the Maldives.
PRODUCTS & SERVICES: TMA is very focused on meeting customer requirements. As such, TMA has provided dedicated VIP Vehicles, VIP lounges branded as per specific resort/hotel requirements, and customized VIP configured aircrafts dedicated to specific brands. TMA also provides services such as Private Charter flights, Photo flights, and Passenger evacuation flights on request. Trans Maldivian Airways is focused on meeting customer expectations, and committed to fulfilling customer requirements.
United Development CEO / MANAGING DIRECTOR
Fathimath Shanna
YEAR STARTED
2004
EMPLOYMENT
80
INDUSTRY
Construction
OWNERSHIP
100% Local (Private Held)
United Development is an Independent Technical and Management Consultancy and Contracting company who has built an outstanding reputation in all aspects of airports and related infrastructure. Ahmed Mahreen, the founder of United Development Pvt. Ltd. has been in the Government for over 40 years rendering his services in the Aviation Infrastructure Development, mainly in the opening of the domestic airports throughout the country. UNITED DEVELOPMENT PVT LTD +960 333 8709
PRODUCTS & SERVICES:
admin@united-development.net
The scope of work by United Development includes: Airport Planning,
www.united-development.net
Design & Consultancy for the Construction of Airfield Pavements, Services Roads, Revetment and Breakwater, Quay walls, Power Distribution System and Water Supply and Sewerage Systems. Other services include; Architectural and Interior Design, Urban Planning and Design, Resort Planning and other related services.
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 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
50 - 60
INDUSTRY
Technical 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
PRODUCTS & SERVICES:
+960 334 7055 comm@vamco.com.mv
VAM & Company is one of the largest distributors of marine engines,
www.vamgroup.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 the company is currently recognized as one of the pioneers of trade at a national level, and has 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 & grown, we have managed to maintain our founder’s core vision to provide quality, globally renowned, and trusted everyday products to VB BROTHERS PVT LTD +960 334 3840 +960 333 6522 marketing2@vbbrothers.com.mv www.vbbrothers.com.mv
a highly 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 product 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
4195
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
92
INDUSTRY
Travel Agent
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 VOYAGES MALDIVES PVT LTD +960 332 2019
team working 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
info@voyagesmaldives.com
experiencing the most beautiful islands in the world – the Maldives is
www.voyagesmaldives.com
certainly in the 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.
Tailored Financial Solutions Advisory Services Digital Banking Solutions Loans and Project Finance Trade and Treasury 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