Corporate Maldives Magazine by Orca Media Group

Corporate Maldives | October 22

Spotlight CROSSROADS Maldives

In this issue: MVR 4.6 Billion Spent on ePSIP Projects So Far This Year

Tolga Ata Unan Managing Director of Hard Rock Hotel Maldives and The Marina @CROSSROADS Maldives

What Makes Revenue Management Systems Indispensable for the Resort Sector?

_ Why Should Companies Worry About Mental Health?

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Corporate Maldives | October 22

Managing Director & CEO Akhmeem Abdul Razzaq Director - Content Creation Mohamed Khoorsheed Director - Digital Strategy Ibrahim Areef Chief Design Officer Zaya Ahmed Chief Operating Officer Ahmed Nasir Manager - Accounts & Admin Ali Sageef Ibrahim Managing Editor Zeek Ashraf Nashama Mohamed Assistant Manager - Media & Marketing Raaya Abdulla Fathimath Zeen Mohamed Aminath Suha Mohamed Digital Marketeer Mohamed Mizyan Associate Editor Fathimath Shaaira Design Manager Hamdhoon W. Designer Thoo Nazim Consultant Moothi Manager - Content Production Kudie Senior Content Creator Ma’aan Abdulla Content Creator Ziyaan Ibrahim Hussain Nuha Hassan Published by

Editor’s Note Welcome to the October 2022 edition of the Corporate Maldives Magazine, a bi-monthly print publication dedicated entirely to the business community of the Maldives. Our Corporate Maldives Spotlight this month is on CROSSROADS Maldives, the country’s first fully integrated multi-island leisure destination. Here, we shine the spotlight on CRDSSSROAS Maldives’ MICE offerings, and how it differentiates itself from the crowd when it comes to serving corporate clients. We also sat down to have a chat with Tolga Unan, the Managing Director of CROSSROADS Maldives to gain further insight. Under our people segment, we take a look at the story of Peter Hill, the Vice President – Passenger of FitsAir, a low-cost Sri Lankan carrier that recently began operating flights to the Maldives. As usual, our news segments touch on various industries and business sectors of the Maldives, including tourism, construction, banking, technology, trade, fisheries and agriculture, among many others.

Copyright c 2022 Orca Media Group. All rights reserved throughout the world. Reproduction in any manner is prohibited. Opinions expressed in the articles are of the authors and do not necessarily reflect those of the editor or publishers. While the editors do their utmost to verify information published they do not accept responsibility for its absolute accuracy. Materials in this publication may not be reproduced, whether in part or in whole, without the consent of Orca Media Group.

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Happy reading!

Corporate Maldives | October 22

Corporate Maldives Spotlight: CROSSROADS Maldives

Government & Economy

Tourism & Aviation

Transport & Construction

People

Education & Training

Health

Banking & Finance

Technology

Fisheries & Agriculture

Trade

Utilities

Environment & Sustainability

Corporate Maldives Events

Business Directory

Corporate Maldives Spotlight: CROSSROADS Maldives

Corporate Maldives | October 22

Corporate Maldives Spotlight: CROSSROADS Maldives

Corporate Maldives | October 22

CROSSROADS Maldives, an Extraordinary Chapter in the Maldives Story Since it first opened three years ago, CROSSROADS Maldives has been an innovative game changer in the tourism industry of the Maldives. As the country’s first multi-island leisure destination, CROSSROADS has redefined the Maldives experience by re-imagining the offerings this island nation can offer to visitors from across the globe. Nestled amid the breathtakingly exotic Kaafu Atoll and Emboodhoo Lagoon, CROSSROADS Maldives opened its doors to guests in September 2019. It features two lifestyle resorts, Hard Rock Hotel Maldives and SAii Lagoon Maldives – Curio Collection by Hilton®, both of which have direct access to extensive facilities at The Marina @ CROSSROADS, an 800-metre lifestyle area and beach walk featuring retail, entertainment and dining outlets. Facilities include a 30-berth quay with worldclass⁠ amenities and exclusive concierge services⁠, the Junior Beach Club and Camp, the CROSSROADS Event Hall, Maldives Discovery Centre and Marine Discovery Centre – the project’s environmental and educational hub. While the shopping avenue boasts a unique and intriguing collection of exclusive brands, the sensational dining at the CROSSROADS Maldives is like no other. You can find multiple

food kiosks, and renowned restaurants offering cuisines ranging from Japanese, Thai, Maldivian, Indian, Srilankan and more. CROSSROADS Maldives, along with its two stunning resorts, has received a number of accolades for service excellence in luxury hospitality from some of the most reputable and renowned organisations from all over the world. What’s more, SO/ Maldives by S Hotels and Resorts Public Company Limited, the flagship hospitality arm of Thailand’s Singha Estate PCL, is set to take centre stage in 2023 as the third resort at CROSSROADS. Crafted from tales of the past and designed to inspire the present, CROSSROADS Maldives is the next chapter in the story of one of the world’s most incredible destinations. The archipelago’s only “one-stop, non-stop” lifestyle destination invites adventurous travellers from the four corners of the globe to cross paths and explore a treasure trove of iconic oceanfront resorts, upscale lifestyle outlets and endless entertainment offerings, as well as the stunning natural, cultural and nautical attractions that have lured maritime travellers to the Maldives for centuries. CROSSROADS Maldives is where cultures meet.

Corporate Maldives Spotlight: CROSSROADS Maldives

Corporate Maldives | October 22

Corporate Maldives Spotlight: CROSSROADS Maldives

Corporate Maldives | October 22

Redefining MICE at CROSSROADS Maldives Take advantage of Maldives’ fabulous year-round climate and exquisite beachfront location when planning your next MICE event. CROSSROADS Maldives offers unparalleled five-star service and contemporary amenities to ensure every incentive meet is memorable and remarkable, including its stunning multi-purpose Event Hall. Covering 326 square metres and framed by beautiful high ceilings, the hall and its range of versatile breakout rooms and mobile stage are equipped with high-speed Wi-Fi. The Event Hall @ CROSSROADS can be configured in various setup options to suit any corporate event, including gala dinners, award nights, conferences, teambuilding activities and more. It also can cater for trade shows with space to accommodate over 20 booths. The Event Hall @ CROSSROADS is an incredible venue designed to embrace the Maldives tradition of joy and celebration in all things. Housed in a magnificent and impressive building that overlooks the heart of the complex, The Event Hall @ CROSSROADS is a versatile space that can be fully tailored towards your business needs. The Event Hall @ CROSSROADS also offers an open outdoor space with an expansive, signature marquee. Beautifully positioned directly on the

beach, it offers uninterrupted vistas of the azure Indian Ocean. What’s more, the meticulous event management team at CROSSROADS delivers excellent attention to detail with a fresh, inspiring, creative approach. They can arrange a plethora of land and sea-based happenings, designed and personalised to meet your corporate spirit of adventure. Secure the benefits of increased collaboration, break down barriers to effective communication and build trust as team members participate in exciting workshops and out-of-office escapades.

Corporate Maldives | October 22

Corporate Maldives Spotlight: CROSSROADS Maldives

Corporate Maldives | October 22

Corporate Maldives Spotlight: CROSSROADS Maldives

Tolga Unan Managing Director of Hard Rock Hotel Maldives and The Marina at CROSSROADS

Corporate Maldives | October 22

Tolga Unan is the Managing Director of the iconic Hard Rock Hotel Maldives and the Managing Director of The Marina at CROSSROADS Maldives, the country’s first multi-island, fully integrated leisure destination. Our team sat down with Tolga to delve deeper into his career and how CROSSROADS differentiates itself from the rest of the crowd when it comes to MICE travel.

Can you tell us a bit about your career so far? I started my career 26 years ago. My career began when I worked in hotels in the United States and travelled around the Caribbean. Most of my career was in Asia, Malaysia, Singapore, Indonesia, and China, before finally ending up in the Maldives. Even though I worked a lot in the resorts, I have also worked in city hotels and large banquet hotels.

CROSSROADS Maldives was a new concept in the Maldives, and we are now seeing similar projects being developed very close to Malé. What was the main idea behind this integrated project? It is totally new, and it has a lot of advantages. I’m happy to see that more and more projects are coming to the Maldives. It’s an economy of scale, and the size matters. It allows you to operate multiple businesses relatively cheaper cost by managing and combining certain services. This didn’t mean that integration and clustered are the same thing. People often mix up clustering services versus the integrated resort concept — it is not the same thing. In our current organization, the way we are organized is based on a business unit model. Each business unit has its targets, its own goals, has its own teams. What unites us under

Corporate Maldives Spotlight: CROSSROADS Maldives

the umbrella brand name of CROSSROADS Maldives is that we are part of the community. We work under the main cover brand, which is CROSSROADS Maldives. So, in that sense, we can create a community combining where we work with where we live, bridging the gap between them.

CROSSROADS Maldives has changed the face of MICE travel in the Maldives. What is the reason behind this success? First of all, we are humbled by the interest shown to us by the corporate community and the government. Any big prestigious event in the Maldives, whether held in CROSSROADS Maldives or considered to be held in CROSSROADS Maldives, makes us very proud to be able to host such events and also to be at the service of the people. As for a reason for the success, there are a few. One of the most important reasons is the structure of CROSSROADS Maldives. It helps that the resorts, the retail area, the event area and all are positioned distant from one another or have easy access to Malé. But more importantly, I will say the sense of welcome that the CROSSROADS Maldives team has provided to the visitors. We built a ballroom at the beginning of the project. From the beginning, we believed in the potential of events and catering and MICE in the Maldives. That was why we invested in building an initial ballroom, and later, we added a marque. Proximity to Malé plays an important role. Still, I think the secret here is to understand what people want and create a seamless operation to deliver a platform to the corporate community. We are part of the corporate community in the Maldives. We run multi businesses under the umbrella of integrated resort Maldives. We, too, become our own clients. We organize our events and meetings, open new shops and create new businesses. We learn how to host events by hosting our events. What we are doing with the Maldives’s corporate community is just mirroring how we do things around here. We are selling that, and we sell our own product the way we would operate ourselves. Since the beginning, this idea has been at the core of CROSSROADS Maldives.

Corporate Maldives Spotlight: CROSSROADS Maldives

Corporate Maldives | October 22

How do you see the Maldives as being one of the pioneers in this modern-day approach to MICE?

What were the main challenges when you first started CROSSROADS?

The first couple of steps is the most difficult because, for international MICE organizers, it will take a little time for them to trust and understand. They worry about the logistics of the Maldives. It’s not an easy thing to bring 300 people from across the world with 20 different flights and get them to a single resort. In a destination like the Maldives, there are other places where you can do this seamlessly. But because of its sea conditions, the weather, and the airport, everything seems to be another challenge that these operators need to consider. But when we are living here, we don’t see this as a challenge. We need to operate under these conditions every day.

Social distancing was challenging! We opened the destination in September 2019 and are now celebrating our third anniversary. We were focused on the high occupancy in January 2020, but in March, the COVID-19 pandemic hit us, and the Maldives was already closing its borders. Everything was left off to resume after the pandemic. It was completely unprecedented. We had to try to react to what the market needed immediately. We made a lot of mistakes. We had difficulty understanding what our consumers wanted, but we didn’t give up. So, after pandemicinduced restrictions were lifted, the operation of our events and venues resumed as usual.

Eventually, the big MICE planners will see the value in the Maldives as a MICE brand. It is such a central destination, isn’t it? Between Asia and the Middle East, and easily accessible through Europe. Currently, Maldives sits at the top of the charts as a honeymoon destination and is one of the top destinations for family travel. We have always been the number one destination for adventure diving, water sports, etc. But now, why not MICE? Which rank are we today in global MICE destinations? Maybe not very high, but I am a believer that year after year, we are going to see an increase in the ranking of Maldives in the MICE charts.

What future plans does CROSSROADS Maldives have that the corporate community expects to seek? CROSSROADS Maldives is built upon innovation. We are the pioneers of the integrated resort concept in the Maldives. We want to be the preferred destination within the Greater Malé Region, and we also wish the corporate community in the Maldives to feel at home. Our venues are perfect for visiting in their leisurely time, whether for their celebrations or with their own families and kids. We aim to enhance these experiences so that we always provide something new and fresh. We have a new picnic park coming up. We have new tenants signed up that will bring further variety to our offerings. The street market held once a week is already a very known affair. The beach club here is now gaining much traction on the weekends, with people coming to spend time and pass the day. We are also planning many more events throughout the year, such as concerts, music, dances, and other activities, for people to come and experience.

Corporate Maldives | October 22

Corporate Maldives Spotlight: CROSSROADS Maldives

Corporate Maldives | October 22

Corporate Maldives Spotlight: CROSSROADS Maldives

CROSSROADS Maldives — Where Cultures Meet

Corporate Maldives | October 22

The Maldives is home to an astonishingly exotic natural landscape, teeming with life and beauty as well as boasting its own unique cultural and historical identity. CROSSROADS Maldives, the nation’s first multi-island integrated leisure destination, is working to meet the cultural needs of Maldives tourism by offering unique experiences that will change the way you think about travel forever. Spending the day at the Marina at CROSSROADS Maldives is not only enjoyable – it’s educational too! The destination boasts two attractions, the Marine Discovery Centre and the Maldives Discovery Centre, where visitors can expand their local knowhow and explore the Maldives’ stunning marine ecosystem and rich culture.

Corporate Maldives Spotlight: CROSSROADS Maldives

Corporate Maldives | October 22

Maldives Discovery Centre

Marine Discovery Centre

Maldives has long been the CROSSROADS, where cultures meet, where explorers, traders and pioneers from a myriad of different cultures have weighed anchor and helped to define the extraordinary culture and heritage of the islands.

At CROSSROADS Maldives, sustainability is part of their DNA. At the Marine Discovery Centre, guests of all ages can explore an immersive conservation experience dedicated to preserving and enhancing the Maldives’ unique marine ecosystem.

At this incredible attraction, explore the Maldives’ rich history and marine biodiversity, and see how local arts and crafts have shaped the islands’ unique cultural identity. Filled with stunning designs and interactive displays, this is an unforgettable educational experience that works closely with the local community to promote the way of life and handicrafts of our remarkable island nation. Indeed, the Maldives Discovery Centre is not to be missed.

The Marine Discovery Centre is a pioneering vision, spearheading coral propagation projects and aiming to embrace and highlight conservation issues, as well as showcase the phenomenal beauty of local wildlife. Featuring a marine biology laboratory, coral propagation and a clownfish release programme, the Marine Discovery Centre offers interactive activities such as tuna discovery scuba diving,

Corporate Maldives Spotlight: CROSSROADS Maldives

Corporate Maldives | October 22

snorkeling, coral nursery exploration and marine conservation programmes. This is an experience that is sure to astound adults and children alike. Nestled amongst the breathtakingly exotic Kaafu Atoll and Emboodhoo Lagoon, CROSSROADS Maldives is perfectly located just a 15-minute speedboat ride from Velana International Airport and Malé making transfers and day trips quick and easy.

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Corporate Maldives Spotlight: CROSSROADS Maldives

Corporate Maldives | October 22

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Government & Economy

Corporate Maldives | October 22

MVR 4.6 Billion Spent on PSIP Projects So Far This Year

Corporate Maldives | October 22

Government & Economy

Speaking to reporters, Miuvaan highlighted that the administration had spent MVR 4.6 Billion on PSIP projects by the end of August and that it accounted for 76 per cent of the total budget allocated for PSIP projects from the state budget.

Spokesperson at the President’s Office, Miuvaan Mohamed has revealed that the administration had spent MVR 4.6 Billion on Public Sector Investment Program (PSIP) projects this year thus far. The Spokesperson made the remark during the press conference held at the President’s Office on the afternoon of 29th September. The press conference focused on sharing information on the PSIP projects initiated by the administration. Speaking to reporters, Miuvaan highlighted that the administration had spent MVR 4.6 Billion on PSIP projects by the end of August and that it accounted for 76 per cent of the total budget allocated for PSIP projects from the state budget. He detailed the progress of the projects in various developmental stages and conveyed statistical updates as well.

The Spokesperson also shared insight into the notable events of the past week and elaborated on some of the upcoming events. He highlighted President Ibrahim Mohamed Solih’s recent visit to four islands of Haa Alifu and Haa Dhaalu Atoll. The President met with the island councils and Women’s Development Committee (WDC) members, during which the representatives expressed their appreciation to the President for bringing development to the islands without bias. Miuvaan noted that, previously, the primary concern of council representatives was delays in providing essential services. However, he said that this was no longer the case as the administration has been adamant in developing infrastructure in the islands.

Government & Economy

Corporate Maldives | October 22

Key Agreements Exchanged Between the Maldives and India President Ibrahim Mohamed Solih has ratified the seventh amendment to the Maldives Employment Act (2/2008). The amendment was passed by Parliament on Wednesday, September 21, 2022, at the 16th sitting of its third session this year. The amendment stipulates that the Minister of Economic Development, upon recommendation from the Minimum Wage Advisory Board, which reflects the economic situation, self-sufficiency,

and productivity of the nation, must announce a date for employers to act upon, regarding the implementation of minimum wages for the expatriate working population in the Maldives. With the bill’s ratification, the act has been published in the Government Gazette and is in effect

Corporate Maldives | October 22

Government & Economy

Maldives Establishes Diplomatic Relations with Malawi and Guinea-Bissau The Maldives has formally established diplomatic relations with two countries on Saturday, 24th September 2022. Firstly, Maldives established diplomatic relations with Guinea-Bissau. The Joint Communiqué formalizing diplomatic relations between the two countries was signed on behalf of the Government of Maldives by His Excellency Abdulla Shahid, Minister of Foreign Affairs of the Republic of Maldives and on behalf of the

Government of Guinea-Bissau by Her Excellency Suzi Carla Barbosa, Minister of Foreign Affairs, International Cooperation and Communities of the Republic of Guinea-Bissau. Maldives also established diplomatic relations with Malawi. The Joint Communiqué formalizing diplomatic relations between the two countries was signed on behalf of the Government of Maldives by His Excellency Abdulla Shahid, Minister of Foreign Affairs of the Republic of

Government & Economy

Corporate Maldives | October 22

The establishment of diplomatic relations will pave way for new opportunities for the Maldives to work with other countries bilaterally and multilaterally, to achieve common goals in areas of mutual interest.

Maldives, and on behalf of the Government of Malawi by Her Excellency Nancy Tembo, Minister of Foreign Affairs of the Republic of Malawi. Cultivating meaningful partnerships with friendly countries remain a key priority of the foreign policy of President Ibrahim Mohamed Solih. The establishment of diplomatic relations will pave way for new opportunities for the Maldives to work with other countries bilaterally and multilaterally, to achieve common goals in areas of mutual interest.

Corporate Maldives | October 22

Government & Economy

President Emphasizes Importance of Simplifying Land Use Plan Development Process

President Ibrahim Mohamed Solih has stated that it is important to simplify the process of developing land use plans and, if necessary, amend laws to address recurring issues that arise while formulating the plans. The President made this remark at the second session of the third Viavathi Raajje conference held in Gan Island of Laamu Atoll. Speaking at the session held on 11th September, which focused on land use plans of islands, President Solih noted that the island councils have been experiencing difficulties in developing the plans, which has hindered the development of their communities. The President stated that it was important to make the process easier for the councillors and to amend any laws that were impeding the process. During the session, Mohamed Aslam, the Minister of National Planning, Housing and

Infrastructure presented a video on how to address specific issues that arise while compiling the land use plans and divulged strategies for avoiding recurring issues. Minister Aslam revealed that the Ministry received land use plans of 60 islands, 11 of which came from councils represented at the third Viavathi Raajje conference. He said that there were still issues in seven plans that were submitted, adding that the most common problem was keeping track of the location of trees. The council members also discussed the issues raised at the “Fanoala Dharubaaru” meeting held prior to the Viavathi Raajje conference. They talked about the need for more technical staff with expertise in developing land use plans, as well as the need for more training and information sessions to familiarise themselves with the process.

Government & Economy

Corporate Maldives | October 22

Maldives on a Recovery Path Amid Fiscal Vulnerabilities

Corporate Maldives | October 22

Although the Maldives’ economy continues a strong recovery thanks to a rebound in tourism, the surge in global commodity prices has put pressure on domestic inflation, the government’s fiscal position and balance of payments, says the World Bank in its twice-ayear update. Released on 6th October 2022, the latest South Asia Economic Focus, Coping with Shocks: Migration and the Road to Resilience, projects regional growth to average 5.8 percent this year – a downward revision of 1 percentage point from the forecast made in June. This follows growth of 7.8 percent in 2021, when most countries were rebounding from the pandemic slump. Also released as a companion piece, the latest Maldives Development Update (MDU) projects real GDP growth to be 12.4 percent in 2022, which is 4.8 percentage points higher than the forecast in early 2022. This is owing to the faster than expected rebound in tourism. The GDP growth is projected to be 8.1 percent on average in the 2023-24 period as tourism is expected to support economic activity. However, the pressure on domestic inflation, the government’s fiscal position, and the balance of payments has increased due to rising global commodity prices. A blanket subsidy program on staple foods and fuel is expected to keep recurrent spending elevated. As a result, a better targeted subsidy program is recommended to reduce the overall fiscal burden. Although austerity measures may cushion some of the spending growth, upcoming election-related spending may counteract this. Continued public expenditure, particularly on ambitious largescale projects such as social housing, which are largely financed by external borrowing, is expected to maintain high levels of public debt, making the Maldivian economy vulnerable to domestic and external shocks.

Government & Economy

“Despite improving growth and fiscal prospects, prudent debt management remains a top priority for Maldives to improve fiscal sustainability,” said Faris H. Hadad-Zervos, World Bank Country Director for Maldives, Nepal and Sri Lanka. “The government’s proposed general GST and tourism GST rate hikes are a meaningful step towards a fiscal adjustment, but more is needed, especially on the expenditure side, including reducing the fiscal burden of state-owned enterprises and better managing the provision of several subsidized goods and services.” The MDU’s special focus section, Towards Resilient and Affordable Housing, shines light on the challenges in the Government’s affordable housing policy and programs. Maldives faces unique systemic constraints that lead to a sizeable gap in the affordable housing supply. Although the Government has ramped up public investment over the last decade with a combined exposure of external loans and guarantees estimated at US$1 billion, the challenges persist. A review of the targeting system to focus on household segments with acute housing needs can help to prioritize the Government subsidy support. A redesign of the Rent-to-Own housing programs can align the households’ varying income segments with different housing interventions, payment contract types and incentives. Meanwhille, inflation in South Asia, caused by elevated global food and energy prices and trade restrictions that worsened food insecurity in the region, is expected to rise to 9.2 percent this year before gradually subsiding. The resulting squeeze on real income is severe.

Tourism & Aviation

Corporate Maldives | October 22

What Makes Revenue Management Systems Indispensable for the Resort Sector?

Written by: Jurgen Ortelee, Managing Director of APAC – IDeaS

A typical hotel or resort makes roughly five million pricing decisions every year. The challenging part comes from interpreting the data needed to make those decisions. The sheer volume of data resorts need to gather, analyse, and act on makes it nearly impossible for any resort revenue manager to consistently make the most profitable choices. The process of manually collecting, collating, evaluating, and calculating data from disparate systems and spreadsheets is tedious and

highly susceptible to mistakes and missed opportunities. And interpreting data becomes even more difficult as market trends become increasingly complex, erratic, and competitive. However, there is a solution that allows revenue managers to drastically simplify this data into actionable insights.

Corporate Maldives | October 22

Tourism & Aviation

Here’s the solution to managing disparate data sets

Which revenue management system do I choose?

A revenue management system (RMS) that uses artificial intelligence (AI) and data analytics allows revenue managers to automate many daily revenue management tasks. Through a series of specialised algorithms and calculations, an automated RMS assesses hotel performance and market demand and then deploys pricing decisions across the distribution ecosystem accordingly. An automated RMS does this without the danger of misinterpretation and putting manual pricing rules in place. Being able to manage and interpret data quickly makes a significant positive impact on both the bottom line and market share of any resort that uses an automated RMS.

While there are several RMS solutions on the market, many leading resorts across the globe use IDeaS revenue management technologies and consulting expertise to help them maximise revenues and provide pricing decisions.

Other than pricing optimisation and distribution, automated revenue management systems surface business intelligence into actionable templates so that resort owners and managers can identify opportunities and outliers in the market timely and easily. Combined with highly visual user dashboards, an RMS enables team members across the organisation to quickly adapt to the latest trends and understand their current market demand using data at both the market and hotel level—all vital factors to consider when delivering and growing hotel profitability. The benefits of an automated RMS are many. An RMS allows resorts to identify trends in the market and how guest demand will impact a product, room category, or segment. An RMS deploys prices that adapt to market changes. An RMS also considers the competitive landscape and a guest’s willingness to pay. An RMS monitors competitor pricing for equivalent room types and judges how aggressively your resort should react when a competitor changes its prices. In all, it’s easy to see the benefits of an RMS. But the question is, which one offers the most value?

For instance, the newly opened Cora Cora Maldives turned to G3 from IDeaS as their revenue management system of choice. G3 allows Cora Cora to utilise the industry’s most comprehensive pricing solutions, interactive dashboards, and reporting tools to elevate revenue and occupancy performance. By working with IDeaS, Cora Cora Maldives gains access to many helpful granular data sources, such as market, competitor, and historical pricing comparisons, price sensitivity of demand, room-class price, and upgrade paths. But rather than stopping there, the G3 solution goes a step further and gives revenue managers the insight they need to understand and act on the information supplied by G3 in ways that boost revenue. For Cora Cora, the benefits of G3 are abundant. According to Vishen Mootoo, the director of sales and marketing at Cora Cora Maldives, “It is critical (that) Cora Cora Maldives grows demand and maximises our revenue opportunities.” He goes on to say, “We chose to partner with IDeaS because we require a solution that will not only collate and analyse key data to drive hotel revenue but one that would provide pricing clarity and actionable recommendations to enable us to optimise performance.” In other words—the investment in an RMS has been well worth it.

Tourism & Aviation

Corporate Maldives | October 22

Take the next step toward higher earnings Revenue management technologies like G3 that analyse enormous volumes of data know which data points to consider most and when to consider them. For resorts everywhere, that’s critical to success. Property owners and managers that embrace the benefits of automated revenue management systems and advanced analytics will be better equipped to attract the right guest for the right price through the right channel while positioning themselves for long-term success.

Tourism & Aviation

Corporate Maldives | October 22

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Tourism & Aviation

Corporate Maldives | October 22

MMPRC Represents the Maldives to Travel Trade Community at Tourism EXPO Japan

Corporate Maldives | October 22

Tourism & Aviation

Through this event, destination marketing was carried out emphasising on MMPRC tourism products (resorts, hotels, guesthouses, liveaboards), and the unique experiences available to visitors in the Maldives.

Maldives Marketing and Public Relations Corporation (MMPRC / Visit Maldives) has represented the destination to travel trade and consumers at Tourism EXPO Japan. This is the first in-person event MMPRC took part in for the Japanese market since the onset of the global pandemic. The event took place from 22nd – 25th September at Tokyo Big Sight. Internationally recognized as one of the largest travel events in Japan, Tourism Expo Japan is a stepping stone for further developing outbound, inbound, and domestic travel from Japan. It provides abundant opportunities for travel professionals to exchange travel information and conduct effective business meetings, while inspiring consumers through the power of travel. The Maldives was exhibited in a 63sqm stand space with the destination’s unique aspects and experiences showcased via images that are popular among the Japanese travellers. 12 representatives from 6 companies from the industry participated in the fair alongside MMPRC. Through this event, destination marketing was carried out emphasising on MMPRC tourism products (resorts, hotels, guesthouses, liveaboards), and the unique experiences available to visitors in the Maldives. Furthermore, the unique geography of the Maldives and

different segments (romance, honeymoon, family, adventure, water sports/dive, & MICE) that MMPRC caters to were highlighted to the visitors to the Maldives stand. Prior to the pandemic, Japan was a promising market, ranked as the top 9th top source market for Maldives in 2019. Japan was closed internationally for the past two years, after which they have only opened recently. Until 10th August 2022, 2,909 arrivals from Japan were recorded. The market has potential for growth with the expectation of better arrival numbers forecasted for ensuing months. Several activities were carried out in the Japanese market during the pandemic to maintain destination presence and momentum. Under this effort, digital campaigns were conducted with leading travel trade and media partners and destination information webinars were conducted for Japanese travel agents/ tour operators. Earlier in the year, a media FAM trip was conducted for this market, attended by officials from high-profile media & publications in Japan.

Tourism & Aviation

Corporate Maldives | October 22

3 New Maldivian Aircrafts Expected to Arrive in October Island Aviation has expressed hope that the three new Maldivian aircraft purchased this year will arrive in the Maldives this month. According to a company official, the new vessels added to the national airline’s fleet are now expected to arrive in the Maldives during this time period. The new Maldivian vessels will be structured by the world’s most popular ATR company. Two ATR 72 series aircraft and an ATR-42 series are among the new vessels. The vessels will

cost a total of USD 60 million (MVR 925 million), according to Island Aviation. ATR 72 aircraft seats 74 passengers, while ATR 42 aircraft seats 50. Mohamed Mihad, Managing Director of Island Aviation, stated that Maldivian will purchase three more ATR aircraft early next year. He stated that all vessels used by the airline on domestic flights will be replaced within the next two years.

Corporate Maldives | October 22

Tourism & Aviation

Corporate Maldives | October 22

Tourism & Aviation

Corporate Maldives | October 22

The Maldives is one of the top five holiday destinations declared by dnata Travel, the UAE’s longest serving travel provider, for summer 2022.

Maldives One of Dnata Travel’s Top Summer Destinations of 2022 The Maldives is one of the top five holiday destinations declared by dnata Travel, the UAE’s longest serving travel provider, for summer 2022. The five destinations in order of popularity are: Turkey, Thailand, Mauritius, Maldives and Switzerland. Thailand recorded the biggest growth as a destination based on the number of holiday bookings between June and September 2022, compared to the same time period last year. Turkey – which also featured in dnata Travel’s top three summer travel destinations in 2021 – was the most popular destination overall for a summer holiday from the UAE this year. Within Turkey, the major city of Istanbul, alongside Bodrum and Antalya on the Turkish Riviera, were the top three destinations for UAE travellers. Meerah Ketait, Head of Retail and Leisure UAE at dnata Travel, commented: “International travel

has strongly rebounded over summer. Last year, the Maldives, Turkey and Switzerland made up over 40% of our total bookings across June to September 2021, while during the same time period in 2022, more than 25 destinations made up 40% of our overall bookings. Many additional destinations have opened for tourism, and the pent-up demand is driving travellers to explore more of the world, including lesser known places and varied locations across popular hotspots.” dnata Travel’s experts continuously monitor travel trends and the predictions are Asia will continue to prove popular with growth in bookings and online searches for travel. Thailand, Singapore, Indonesia and Malaysia are showing signs of high demand.

Tourism & Aviation

Corporate Maldives | October 22

SIMDI Group and ARABESQUE to Launch World’s First Luxury Airline for Leisure Travel SIMDI Group and ARABESQUE are on the verge of launching the world’s first luxury airline for leisure travel. The Maldives celebrates the 50th year of tourism in the Maldives this year. To mark this significant and historic landmark, SIMDI and ARABESQUE are embarking on doing their part to open a whole new world of luxury, opportunity, and class to the Hospitality and Travel industry in the country & the world as a whole. For the past 25 years, SIMDI group has been bridging gaps in the commercial, travel & hospitality industry by providing world-class, high-quality products and services to the Maldives. ARABESQUE is a UAE based Investment company founded by experienced aviation professionals, all of whom have held top management positions at top-tier airlines such as Lufthansa, Qatar, and more. “We are proud to launch the world’s first luxury leisure airline here in the Maldives. We are

working closely with the authorities to launch the airline the soonest and to many new destinations. The management of the airlines would like to convey the deepest gratitude and thanks to the government of Maldives and the relevant authorities for the support we have received so far,” says Tero Taskila, CEO of the airline. The new luxury airline will offer its guests the most desirable destinations while providing a highly tailored, uncompromising travel experience. “Now, with the first all-premium class airline from the Maldives, we are looking to grow to up to 60 nonstop destinations around the world,” says Mishal Ibrahim Mohamed Didi, Managing Director of SIMDI Group. SIMDI Group and ARABESQUE bring affordable luxury travel with an ultimate private jet-like experience and the utmost comfort for direct long-haul flights. They are on the verge of Reinventing Long Haul & Reinvigorating Luxury. A new airline, for a new generation.

Corporate Maldives | October 22

Tourism & Aviation

Corporate Maldives | October 22

Tourism & Aviation

SriLankan Airlines, Flying Sri Lanka’s Flag Globally for 43 Years SriLankan Airlines has been the fabric of commercial aviation in Sri Lanka since the dawn of the airline 43 years ago. Launched on 1 September 1979, the airline has been the ultimate gateway between Sri Lanka and the world. With a current all-Airbus fleet of 24 aircraft, SriLankan has been connecting Sri Lankans to 119 cities in 60 countries across continents through direct and codeshare operations. Moreover, SriLankan Airlines is the only airline to operate direct flights between Colombo and several global power cities including London; Paris; Frankfurt; Melbourne; Sydney; and Tokyo, enabling socio-economic ties with these markets. SriLankan has also played a central role in introducing Sri Lanka and the country’s spectacular heritage to discerning international travellers. SriLankan has for nearly half a century helped bridge distances; position Sri Lanka as one of the most desired holiday destinations; and link millions of passengers to Colombo, Southern India and the Maldives with expedient connections. Over 95 per cent of passengers transiting via Bandaranaike International Airport are carried by SriLankan Airlines and SriLankan remains the most frequently booked airline to travel to Sri Lanka. The proof is in the numbers. Between 1979 and now, SriLankan has served over 89 million passenger journeys for both local and foreign

passengers – a number that is equal to the population of Sri Lanka, four times over. The airline is, unquestionably, a key foreign currency earner for Sri Lanka as over 85 per cent of its revenue is earned in foreign currency from international markets. SriLankan Airlines has also powered economic activity across the supply chain of the travel and tourism trade of Sri Lanka. This includes creating jobs and supporting the livelihoods, even if indirectly, for thousands employed in the sector. Consequently, it has been estimated that SriLankan Airlines makes a significant contribution to Sri Lanka’s gross domestic product. Aside from passenger services, strategic business units of the airline such as SriLankan Cargo and SriLankan Engineering have all progressively contributed to the organization and country. SriLankan Cargo, stepped up its operations to fly essential goods and facilitated trade to and from Sri Lanka in the absence of other operators during the pandemic and effectively allowed the airline to redeploy resources for cargo operations in ensuring the survival of the airline as passenger travel ceased. SriLankan Cargo has transported a whopping

Tourism & Aviation

Corporate Maldives | October 22

Clarks Exotica Kamadhoo Maldives Opens its Doors to Guests

Nestled in the UNESCO protected biosphere of Baa Atoll, Clarks Exotica Kamadhoo Maldives, has opened its doors to guests. Kamadhoo Island, overlooking the Indian Ocean, is famous as a yoga retreat destination which is surrounded by the most beautiful beach with white sand all over amidst crystal clear blue water. Whether you like to kick back, relax and take in the magnificent, stunning beauty of the island and surrounding reef, the island offers the perfect balance of both. Clarks Exotica provides excellent accommodation, including rooms with immaculate views of the ocean. They also have intricately designed penthouses that guarantee premium luxury. All of the accommodation options feature modern amenities and facilities

to ensure your stay is convenient and delightful. The hotel has two exclusive restaurants that offer the best food in town. The Bridge is a multicuisine restaurant, and has a diverse menu with delicacies borrowed from a variety of cuisines. Meanwhile, at the lounge area by the outdoor pool, Pool Deck Lounge is the perfect place to kick back and relax with a refreshing drink.

Corporate Maldives | October 22

Tourism & Aviation

Manta Air Commences Daily Charter Service to Hoarafushi Airport

Manta Air under agreement with JA Manafaru have commenced charter service to Hoarafushi Airport. Under the agreement, Manta Air will operate daily flights between Hoarafushi Airport and Velana international Airport. The passengers of the inaugural flight were welcomed at Hoarafushi Airport with the traditional Maldivian Boduberu followed by a special ceremony organized by the Regional Airports Company and the Island Council. The highlight of the event featured the very local traditional welcome of presenting “Malaafai” by the island council. The new service will be carried out on Manta Air’s newly introduced Beechcraft 1900D aircraft. The 18-seater aircraft comes with a high ceiling cabin that has a standing height at the aisle of the

aircraft and is equipped with an air-conditioned cabin that elevate the flying experience of the passengers. The Beechcraft 1900D is one of the fastest small aircrafta currently available in the domestic market with speeds equivalent to that of the current ATR fleet in operation. In addition to the daily charters to Hoarafushi Airport, the Beechcraft 1900D will be available for private charter operations. “We are delighted to partner with JA Manafaru to commence our operations to Hoarafushi Aiport. We are certain that the connectivity will not only benefit JA Manafaru, but also bring opportunities for the residents of Hoarafushi and nearby islands as well as the businesses in the area,” said Mohamed Khaleel, CEO of Manta Air.

Corporate Maldives | October 22

Tourism & Aviation

Ooredoo Maldives Partners with Jalboot Maldives to Ease Access to Connectivity for Tourists Ooredoo Maldives has partnered with Jalboot Maldives – a pioneer in marine services in the Maldives, aimed to enable connectivity to their customers while aboard on their vessels and during their stay in the Maldives. The partnership was formed with the aim to improve customer experience for tourists during their stay in the Maldives, easing their access to connectivity services. Reliable connectivity is crucial in today’s travel industry to provide top notch services and for tourists to stay updated on news, to stay connected with friends and family and to attend business matters while traveling. The partnership was announced during the signing ceremony held at Ooredoo Maldives Head Office at the presence of Managing Director of Jalboot Maldives Mr. Mohamed Roestali, Managing Director & CEO of Ooredoo Maldives, Mr. Khalid Al-Hamadi and the management of both companies. “Access to reliable connectivity is crucial in this digital era. And with this strategic partnership with Jalboot Maldives, our aim is to ease access to connectivity where tourists can acquire SIM cards directly from the vessels,” said MD & CEO of Ooredoo Maldives, Khalid Al-Hamadi.

“Communications & technology are vital for the growth of Jalboot Maldives and Ooredoo is known for its evolutionary digital services. With a common mission to enrich the lives of our community, together we will enhance customer experience,” said MD of Jalboot Maldives, Mohamed Roestali. Under this strategic partnership as part Ooredoo’s efforts to support the Maldives tourism industry, customers of Jalboot Maldives will be able to acquire connectivity solutions directly from the vessels without any hassle of going to any counter or shop. Jalboot Maldives specializes in delivering high quality, fully integrated marine solutions such as water transport, marina management, design and build of custom boats, water sports, and luxury charters. As nation celebrates the 50th anniversary of the tourism industry, Ooredoo Maldives remains committed to support the industry through its digital services and connect the visitors to their friends and family during their stay in the Maldives and support the stakeholders to provide exceptional innovative services.

Corporate Maldives | October 22

Tourism & Aviation

Transport & Construction

Corporate Maldives | October 22

Agreement Signed for Hanimaadhoo International Airport Development Project

Ministry of Economic Development has held the signing ceremony of the agreement for the Hanimaadhoo International Airport development project. The agreement was signed on behalf of the Maldivian government by Regional Airports Company and JMC Projects India. The ceremony was graced by Minister of Economic Development Fayyaz Ismail. The award price for the project is USD 136,625,386.44. This is the largest project undertaken by the government outside the Greater Male’ Region in the history of the Maldives. Therefore, the project is a clear indication of the administration’s commitment to decentralisation development and the expansion of regional economies in the atolls. The project is to be carried out with loan funds from Exim Bank of India. Under the project, a new runway of 2,460 meters will be established in Hanimaadhoo, a state-of-the-art terminal and other airport facilities that will serve 1.3 million passengers annually. The project is scheduled to be completed within two years and international flights will be operational.

Upon completion of the project, Airbus A320 and Boeing 737 sizes will be serviced at Hanimaadhoo Airport. It will also be able to operate direct flights to Hanimaadhoo from the Middle East, South Asia, South East Asia and East Africa. The project to develop Hanimaadhoo International Airport is also an important project in carrying out the policy of establishing a modern maritime hub in Ihavandhippolhu. The project to develop Gan International Airport in Addu City will also be carried out under the loan funds of Exim Bank of India. Under the project, the passenger terminal of the airport will be developed, with the addition of a new control tower, fire station and cargo facilities, as well as other facilities required for the airport. Upon completion of both projects, Hanimaadhoo Airport and Gan Airport will be the main gateways to the north and south of the Maldives. This is in line with President Ibrahim Mohamed Solih’s aim is to establish economic hubs in the north and south of the country.

Corporate Maldives | October 22

Transport & Construction

Corporate Maldives | October 22

Ceremony Held to Mark Completion of First Phase of RTL Ferry Service for Zone 1

A landmark ceremony was held on the night of 27th September 2022 at Ha. Dhihdhoo to mark the completion of the Phase 1 of “Raajje Transport Link” ferry service for Zone 1 (Ha., Hdh. & Sh. Atoll). The ceremony was graced by His Excellency President Ibrahim Mohamed Solih, cabinet ministers, state dignitaries, CEO Adam Azim and senior officials of Maldives Transport and Contracting Company (MTCC). “Raajje Transport Link” ferry service is a pledge of President Solih. The objective of this project is to

connect the islands and atolls of the Maldives via a reliable ferry network. The “Integrated National Public Ferry Network” Project was awarded to MTCC on 17th January 2021. The project will be fully implemented upon completion of Phase 2 and Phase 3. The project will introduce reliable, efficient, convenient, and sustainable passenger ferry services to all administrative islands of the nation.

Corporate Maldives | October 22

Transport & Construction

Al Shaali Marine Maldives Contracted to Supply Additional Ferries for RTL Service

Al Shaali Marine Maldives has been contracted by Maldives Transport and Contracting Company (MTCC) to manufacture and supply the additional ferries required for the implementation of the Phase 2 and 3 of Raajje Transport Link Ferry Service carried under the “Integrated National Public Ferry Network Project”. In a ceremony held on 15th September, CEO Adam Azim signed on behalf of MTCC and Chairman Abdulla Hussain Mohammed Al Shaali, signed on behalf of Al Shaali Marine Maldives.

Al Shaali Marine Maldives, a leading manufacturer of speed ferries, will manufacture and supply 65 ferry vessels to MTCC as part of the terms of the agreement. The ferries will be designed with 50 comfortable seating arrangement and air-conditioned cabin along with special arrangements to cater people with special needs (PWD). In this regard, the ferries will have PWD accessible toilets, access ramp for easy access, spaces for stretcher and wheelchair.

Transport & Construction

Corporate Maldives | October 22

The Channel Park — An Island Retreat Envisioned by HDC

Housing Development Corporation (HDC) is currently working to develop the Channel Park, one of its key projects. The park lies between the connection of Phase 1 and Phase 2 of Hulhumalé, forefront a 50m waterway. Residents who frequent Phase 1 & Phase 2 bridges will be able to easily catch a view of the ongoing works at Channel Park. A space designed for engagement, interaction and peace, the park is envisioned to be an island retreat in Hulhumalé. When designing the place, architects sought to combine all that is important – accessibility, sustainability, safety and security of residents. A bustling place anticipated in the near future, it will add a unique adornment to the island. F&B outlets, steps ensuing to the waterway, decks for best views of reflective sunsets and sunrises on the waterway that transform to hues of blues throughout the day. To enhance the Maldivian genius loci, the landscape includes a comprehensive collection of native plants such as coconut palms, small

leaved mangroves, hibiscus boninens and tree heliotropes, that easily suit the salty air of Maldives. A lot more enjoyment will be found after the development reaches full completion, which will feature 14 cafe’s. Skatepark tracks, rowing clubs, playgrounds and waterplay for the sport enthusiasts are also in the plan. For a child or the elderly, it’s an all-in-one retreat. A continuous foot path will be there at two levels, at road level and 1.4m low channel quay wall level for safe, pleasant and comfortable walking. Bicycle paths will be linked to the bridges transport direction for cyclers to take a breezy stroll. As it should, every urban agenda of HDC matches the design and planning of this project. The decks have been completed, and before soon, it is hoped to see the Channel Park come together radiating with life, energy and peace.

Corporate Maldives | October 22

Tourism & Aviation

Transport & Construction

Corporate Maldives | October 22

No Plans to Eliminate Price Ceiling of Taxi Fares: Transport Ministry

Although minibus services are accessible in the Greater Male’ Region, the Transport Ministry has stated that it has no plans to lift the price limit imposed on taxi charges. Deputy Minister of Transport Hamad Abdul Ghani stated in an interview that taxi fares are controlled in most countries around the world. The government does not intend to end taxi price control, but it is considering arrangements that could benefit taxi drivers and taxi centers, he said. “Currently, there are discussions taking place. When we reach a point where the details may be disclosed, we will do so,” he said. The Deputy Minister stated that no changes in policy regarding the issuance of taxi permits will result from the introduction of minibus services in Male. As a result, he said, vehicles will be licensed to run taxis in accordance with the same laws, rules, and regulations. Some drivers claimed that since March of this year, the price of fuel has climbed on the

international market, increasing expenses relative to revenue. In the meantime, they claimed that the city’s introduction of minibus services and the difficulty of parking on some major roads have further decreased taxi earnings. Numerous taxi drivers protested over the rise in cab fees brought on by rising oil costs in Male’ and Hulhumale’ in March of this year. In response to complaints and criticism from taxi drivers, the Transport Ministry subsequently revised rates in July.

Corporate Maldives | October 22

Transport & Construction

Daycare Centre and Parking Building to be Established in Hulhumale’

Housing Development Corporation (HDC) has awarded the construction of a daycare centre and a parking building in Hulhumale’ to two companies. HDC awarded the construction of a daycare centre to Associated Business Agents (ABA). At a ceremony held at HDC, the agreement for the daycare centre was signed by the Managing Director of HDC Ahmed Athif. Managing Director of ABA Abdulla Qasim signed the agreement on behalf of his company. HDC said that there are a large number of couples working in Hulhumale’ and that a daycare centre will be established to create a safe environment for their children. The daycare centre is a six-storey centre with a capacity of 3,000 square feet. HDC said that the daycare will provide state-of-the-art services and that special clinics will be established for children with disabilities at the centre. HDC added that the daycare center will be completed within two years.

Meanwhile, HDC awarded the construction of a parking building in Hulhumale’ to Damas Company Private Limited. Athif signed the agreement on behalf of HDC to build a parking building in Hulhumale’. Managing Director of Damas Ahmed Solih signed the agreement on behalf of the company. The six-storey building will have a total space of 24,700 square feet and will also include basement parking. The building will also have well-equipped parking services, including services for people with special needs. Solar panels will also be installed on the terrace of the building to generate energy. A food court will also be constructed in the building. Two floors of the parking building will be dedicated to commercial purposes and will have shops and gardens. The parking building project was agreed to be completed within two years.

People

Peter Hill Vice President, Passenger of FitsAir

Corporate Maldives | October 22

People

Corporate Maldives | October 22

Mr. Peter Hill is the Vice President – Passenger of FitsAir, a lowcost Sri Lankan carrier that recently began operating flights to the Maldives. FitsAir offers a unique service based on value for money while achieving stringent service standards. Our team sat down to have a chat with Peter to find out more about the airline and its offerings to travellers.

Tell us a bit about FitsAir. Where does the airline currently fly to? My name’s Peter Hill and I’m basically in charge of passenger operations for FitsAir. Before you ask, what does ‘FITS’ stand for? I’ll tell you. ‘FITS’ stands for Friend in the Skies. So it’s quite simple when you see the correlation between FitsAir and the tagline because that’s what we are. We’ve been in the cargo business for more than 25 years, but just this month, we’ve started flying passenger services. The market we’re in is basically affordable passenger services in the region. We are based in Colombo out of Bandaranaike International Airport, and we are initially flying three times a week to Dubai, and three times a week to the Maldives. Next month we’ll be flying destinations into Southern India, and you can expect to see some increase in frequencies and destinations within this region — the Indian subcontinent predominantly, and the GCC, Colombo, and maybe a little later to Southeast Asia. Moving forward, we aim to be a sustainable but profitable airline.

How does FitsAir differentiate itself from other airlines? Our real strength is affordability. As a low-cost carrier, we want to encourage everybody to travel, and I mean everybody. We are trying to make sure that we really appeal to the average guy. You don’t have to dress up to fly with us; even our cabin crew, they’re in a very informal, fun style of uniform. I worked with SriLankan Airlines for 10 years. It’s a different style of carrier that’s a fullservice carrier, but you pay for the privilege. At FitsAir, we’re relaxed, and we want to offer the opportunity for everybody to travel. We’re like the bus service as opposed to the luxury limousine service. We have a fleet of Airbus A320 aircraft, which feature 156 economy seats and eight economy plus seats. With the economy plus seats, you get a little bit more legroom, some light refreshments, preferential boarding and departure, all complimentary in the price of the ticket. So, that’s a slightly better way of traveling if you can afford to pay a little bit more money.

With this new low-cost carrier service, how do you think it will add value to the Maldives’ tourism portfolio? We’re looking at the new dimension of air travel encompassing affordability and convenience. That’s the sort of thing we can bring to the table, which other airlines really aren’t focusing on today. Our partner in the Maldives is Aviation Services, so we are working closely with locals to understand the market and deliver what our consumers need. One of the things I think is important is that

Corporate Maldives | October 22

People

there is a different style of market building up here in the Maldives. Once upon a time, when I first started working with Emirates and SriLankan Airlines, it was virtually all five-star accommodations and luxury resorts all over the Maldives, which was fantastic for our products those days. Although it still is the hallmark of the Maldives’ traditional tourism today, there are now boutique hotels and resorts starting on some islands. They are much more affordable and hence much more attractive to those who would love to come to the Maldives but can’t afford the five-star prices. We are partnering with some of these resorts with our very affordable airfares as well. We think it makes a good combination, and we can really see this market building up in the next couple of years. We also see a big enhancement in traveling to visit friends and relatives. As you know, there are more than 20,000 Maldivians living in the region who travel back and forth. They’ll be able to travel much more frequently with the operation of FitsAir.

You mentioned earlier that you aim to be a sustainable but profitable airline. Could you elaborate a bit on that? In order for us to mount a service, we’ve got able to, first of all, provide our shareholders with a return on investment. We have a board of directors, and they wouldn’t invest in a venture like this if they did not see it as being sustainable for the future. Plus, we have to recognize that the world has to become a greener place. And so, we have to actually be operating the aircraft in a greener fashion. The A320 is a very fuel-efficient airplane, perfect for the routes we fly. Furthermore, some of the routes we will be flying to are with turboprop aircraft, which burn less fuel and are more fuel efficient.

Anything else to add? We hope to see an increase in travel in this region. Not today, not tomorrow, but gradually, we expect to see a greater number of travellers as we introduce more flights and operate in more destinations. We’ll be opening up places like Jaffna very soon and serving the market in the north of Sri Lanka to South India, and maybe even from Jaffna to the Maldives. So, there are many dimensions to it. That’s about where we’re at right now. Watch our space, watch us grow. Let’s have a chat in six months’ time, and see where we are then. We look forward to welcoming you onboard someday on FitsAir — your friend in the sky.

Corporate Maldives | October 22

People

Corporate Maldives | October 22

New Appointments

Safaath Ahmed Zahir

Mohamed Azad

Miuvaan Mohamed

Communication Strategist at the Foreign Ministry

Financial Controller at the Finance Ministry

Spokesperson at the President’s Office

Ahmed Thasmeen Ali

Ali Hussain Didi

Ahmed Athif

High Commissioner of the Maldives to Singapore

High Commissioner of the Maldives to Malaysia

Managing Director of Housing Development Corporation

Mariyam Shafeeq

Mohamed Solah

Karl Stumke

CEO of the National Social Protection Agency

Chief Operating Officer at Crown & Champa Resorts

CEO of Bank of Maldives

People

Corporate Maldives | October 22

Education & Training

Corporate Maldives | October 22

World Bank Supports Maldives to Improve Secondary Education

The World Bank’s Board of Executive Directors has approved a $9 million project to improve the performance of the education system, schools, and teaching and learning outcomes at the secondary education level in Maldives. Maldives has achieved almost universal enrolment at early childhood, primary and lower secondary education levels, but low net enrolment and high gender disparity are the major challenges at the higher secondary level. Learning outcomes are moderate, with clear geographical disparities among atolls, and between islands within atolls. The average scores for English, Mathematics and Dhivehi for Grade 4 and Grade 7 students ranged between 50 to 60 percent.

“The COVID 19 pandemic has had a profound impact on the Maldives’ general education system, forcing the extended closure of primary and secondary schools across the entire country,” said Faris. H. Hadad-Zervos, the World Bank Country Director for Maldives, Nepal, and Sri Lanka. “The project will broaden educational opportunities for the youth and advance the country’s equitable economic and human development.” The new Maldives Atoll Education Development Project will support the Government in improving the quality of secondary education in subjects of strategic importance for economic development such as English language, mathematics, science, and skills education. Improved learning

Corporate Maldives | October 22

outcomes at secondary education level in these strategic subjects will help more students qualify for higher secondary education. Schools will be encouraged to adopt environmentfriendly behaviors like saving energy and reducing waste. Support will be provided to atoll schools to expand their ICT equipment and technology while also improving the skills of teachers to address the needs of students with learning challenges. Skills of school principals, management officials, and teachers will also be improved through targeted programs. “The Maldivian government is implementing a comprehensive curriculum reform initiative and is focusing on improving learning outcomes equitably across Atolls and islands,” said Harsha Aturupane World Bank Lead Economist and Task Team Leader. “Building on these positive steps, Maldives needs to strengthen the quality of general education with a special focus on teacher performance in the outer atolls, and the quality assurance of schools in the islands with small student populations” added Karthika Radhakrishnan-Nair, World Bank Education Specialist and Co-Task Team Leader of the project. The Maldives Atoll Education Development Project will be implemented by the Ministry of Education. The total financing is $10 million, which is comprised of a $4.5 million grant and a $4.5 million credit from the International Development Association (IDA), the World Bank’s concessional credit window for developing countries, and a contribution of US$1 million of counterpart funds from the Government of Maldives.

Education & Training

Corporate Maldives | October 22

Chinese Language Centre Inaugurated at Villa College

A new Chinese language learning centre has been opened at Villa College. At the inauguration ceremony held at Villa College, the centre was inaugurated by the Chinese Ambassador to the Maldives Wang Lixin and Foreign Secretary Ahmed Latheef. The centre, “Chinese Language Centre” (CLC), will be a joint operation by China’s Chang’an University and Hunan Mass Media Vocational and Technology. The centre will have four courses available to the students, including ‘Tourism Chinese’ which aims to help Maldivians communicate with Chinese tourists. Another course, ‘Business

Chinese’ will benefit students in learning about companies focused on Chinese language. It will have two levels. Other courses such as “Easy Approach to Chinese” will focus on teaching students to converse with each other in Chinese, while a course called “Easy Chinese” will be aimed at students from Grade 1 to Grade 7. At the inauguration ceremony, H.E. Wang Lixin spoke on the relationship between Maldives and China and how close it has gotten over the years. It is hoped that the new Chinese Language Centre will pave way to an even stronger bond between the two nations.

Corporate Maldives | October 22

Education & Training

Jalboot Maldives Launches Internship Program

Jalboot Marine Services Pvt Ltd has launched an internship program for young Maldivians interested in marine operations. The company hosted the internship inauguration ceremony on 30th August 2022 at Maldives Polytechnic. In this ceremony 15 young Maldivians were awarded the certificate of selection for the internship of Jalboot. The ceremony was graced by the Minister of Higher Education, Dr. Ibrahim Hassan, and attended by interns, their parent, and staff of Jalboot. During the ceremony, the Minister spoke about the need for and the importance of the private sector in contributing to the human resource needs of the sector and the nation. Minister Hassan requested all interns to take the opportunity and complete the training, and appreciated the initiatives of Jalboot in developing young people for the marine field. The program allows any interested young Maldivian to get training in all the fields of operation by Jalboot. The internship program is

scheduled to go on for six months, and Jalboot will pay a monthly allowance for the participants. The areas for training include Water Sports, Diving, Excursion, Marina Operation, Water Transport, Admin, Finance, and Marketing. Reference letters and certificates will be provided for interns who successfully complete the internship, and there is the possibility that they can join the team at Jalboot. Jalboot Marine Services is a private limited is a subsidiary on Jalboot Holding LLC; Jalboot Holdings LLC, a marine company based in the capital of the United Arab Emirates. Established in 2017. Jalboot Marine Services Pvt Ltd is specialized in delivering high quality, fully integrated marine solutions such as water transport services, Marina Management, Water Sports, Diving and Excursion, design and build of custom boats, watersports, and luxury charters. Despite its young age, Jalboot is a pioneer in marine services in the Maldives where it is successfully serving some of the biggest resort islands of the country.

Education & Training

Corporate Maldives | October 22

Villa Hotels & Resorts Signs Agreement with MNU to Develop Collaborative Activities

To foster a new generation of highly-skilled talents in the tourism and hospitality industry and assist in implementing nation-building strategies, an MoU was signed between Villa Hotels and Resorts and the Maldives National University (MNU) to develop a wide range of collaborative activities. The objectives of the agreement, signed on 14th September 2022 between Villa Hotels & Resorts and Faculty of Hospitality & Tourism Studies of the Maldives National University, include adding value to the country’s talent pool; speeding up the fostering of a new generation of applied highly-skilled talents. They also include developing and nurturing a pool of learned young adults with a strong sense of

practicality, good hands-on skills, and a high level of organizational and business awareness and familiarity. Under this agreement, Villa Hotels and Resorts will provide the students with structured internship programs and full time employment opportunities. The agreement will also enable a better understanding of the current employment opportunities at Villa Hotels and Resorts, improve job opportunities and create access to work opportunities across the country.

Education & Training

Corporate Maldives | October 22

Health

Corporate Maldives | October 22

Why Should Companies Worry About Mental Health?

With the recent marking of World Mental Health Day, mental health at the workplace is at the top of everyone’s minds these days. While our understanding of mental health at work is changing, one thing is certain. Supporting mental health in the workplace is no longer a desire — it is a necessity. It’s no secret that work-related risk factors can negatively affect mental health. Depending on the environment and level of support, your workplace may contribute to worsening mental health. Some of the most common causes of mental health issues related to employment are job insecurity, a lack of work-home balance, a toxic work environment, and overwork. But why should you, as a company or employer, care about your workers’ mental health? Poor mental health leads to demotivation and lack of focus, which can in turn cause performance and productivity to suffer. From social anxiety to a reduction in cognitive performance and working memory, mental

health issues take a major toll on daily living. It may also be difficult to communicate properly when one is emotionally unwell, which may lead to misinterpreting or overreacting to colleagues. Employers now need to seize the opportunity to add real value to their employees’ lives and contribute to a society where mental health and well-being are addressed and supported on a daily basis. When it comes to promoting wellbeing at work, creating proactive options that help people improve and maintain their mental health day-to-day is key to helping employees thrive. Awareness of the full range of employee mental health experiences is the first step to supporting good mental health in the workplace. Companies can lead by destigmatizing mental health as a topic and taking a broader view of the company’s role. They can also provide opportunities for employees to acquire a variety of stressmanagement skills such as mindfulness, selfreflection, problem-solving, as well as physical exercise and activity.

Corporate Maldives | October 22

Health

Banking & Finance

Corporate Maldives | October 22

Maldives Stock Exchange Launches Electronic Platform ‘Viyana’

The Maldives Stock Exchange (MSE) has launched an electronic platform, ‘Viyana’. The launching ceremony was graced by the presence of Economic Minister Uz. Fayyaz Ismail. Viyana is an electronic platform developed by MSE to facilitate and operate the Private Securities Segment organised under the Regulation on Issuance of Securities and the Listing Rules and regulated by the Capital Market Development Authority (CMDA). Viyana will serve as a centralised, transparent and regulated platform through which businesses can raise capital from accredited private investors through private offerings. Speaking at the launching ceremony, the CEO of MSE Mr. Aushan Latheef stated: “Viyana will expand the choices available for the financial sector of the Maldives. This has been our driving force since day one, to provide an array of choice to everyone along all spectrums of the capital market.”

With the launching of Viyana, companies seeking to raise capital will have more control over the capital arrangement. The Private Securities Segment will also allow private companies to tap the capital market without the requirement of converting into a public limited company, thereby minimising the administrative challenges and save time in reaching their financial goals. Furthermore, this is a gateway for retail and institutional investors to reach multiple investment opportunities, and a path to increase investment exposure to different sectors, returns and time horizons. “Today is a new beginning of our commitment to all stakeholders to build our long-term vision, to be the platform to access the right skills, network and capital,” Mr. Aushan said.

Corporate Maldives | October 22

Banking & Finance

Bank of Maldives’ American Express Debit Cards Now Accepted Worldwide

Bank of Maldives (BML) has announced that its American Express Debit Cards will now be accepted worldwide. Initially launched for domestic use, the American Express Debit Cards can now be linked to USD accounts for foreign purchases online and overseas, up to a daily default limit of USD3,000. Bank of Maldives In-charge and Acting MD, Aishath Noordeen commented, “As part of our long-standing partnership with American Express, we are pleased to extend our existing debit card product by providing acceptance at all American Express merchants worldwide. This announcement underscores Bank of Maldives’ leadership in card issuance in the country as we continue to offer great benefits to our growing customer base.”

Divya Jain, Vice President, Global Network Services, India & South Asia, American Express added, “Bank of Maldives has been a valued partner for American Express in South Asia. The launch of the American Express Debit Card for international usage is a natural extension of our efforts to provide our Cardmembers in Maldives the flexibility of using their Card globally while catering to their lifestyle and spend behavior.” Existing American Express Debit Cardholders can request to set a USD account as the Card’s primary account via internet or mobile banking. Applications for new Cards can also be made online.

Technology

Corporate Maldives | October 22

Dhiraagu and Maldives Govt Sign MoU with Batelco to Strengthen Cybersecurity in Maldives

A Memorandum of Understanding (MoU) has been executed between the Government of Maldives, Bahrain Telecommunications Company (Batelco) and Dhiraagu aimed and strengthening cybersecurity in the Maldives. The MoU was signed after a meeting between President Solih and the senior management of Bahrain Telecommunications Company (Batelco). The President was accompanied by members of his official delegation and the C.E.O and Managing Director of Dhiraagu, Ismail Rasheed. The agreement would enable Batelco to work closely with Dhiraagu and the National Centre for Information Technology (NCIT) of the Maldives. The Cybersecurity Services from Beyon Cyber W.L.L. explored under the Cybersecurity MoU with Batelco include Advisory and Consulting Services, Security Engineering Services, Cyber Defense Services, Security Assurance, Cyber Threat Intelligence and threat hunting service and Incident Response Services.

Commenting on the matter, Technology Minister Aminath Shauna said that the agreement would aid support the government’s plans to build capacity and strengthen collaboration with the private sector which is necessary for making cyberspace safer for everyone in the Maldives. Minister Shauna stressed that cyber security required specialised professionals working with a host of stakeholders from both the private and public sectors across international boundaries. At the meeting, President Solih extended gratitude to Batelco for its positive contributions to the Maldives’ economy. He also thanked Batelco for its contribution towards achieving the current administration’s goal to lower internet prices. Chairman of Batelco Shaikh Abdulla bin Khalifa Al Khalifa said that the company recognises technology as the foundation of any economy, adding the company was proud to sign the MoU during the president’s visit.

Technology

Corporate Maldives | October 22

Personal Computers Launches a T1 Distributorship for Logitech

Personal Computers has launched a T1 distributorship for the Swedish brand that changed the way we interact with the digital world for 40 years: Logitech. Logitech has revolutionized the industry space by positioning itself as the most innovative brand, changing the way you work, play, and learn with technology. During the launch at Corporate Maldives Business Expo 2022, it was highlighted that this is the very first time a distributor for the Maldives is in the Maldives for an international brand. This milestone is not only for Personal Computers but for the nation. Personal Computers is expecting new brands to follow and accept the Maldives as a viable market to have within their distribution network as a region. Logitech redefines how warranty services are rendered. with a philosophy of not repairing their products. They replace 1 to 1 during the warranty period of the product if any malfunction is experienced by the customer. Personal Computers as the T1 Distributor for the Maldives will render the same international warranty terms in the Maldives. Warranty replacement

and services will be made available through Personal Computers nationwide reseller network in the coming weeks too. Personal Computers is a constant in the ICT market space of Maldives. In over 14 years they have introduced innovative technologies and renowned international brands to the market space. The reseller network that is established nationwide by Personal Computer provides warranties and other services to customers across the Maldives. Personal Computers has also opened the opportunity for retailers and suppliers to become authorized resellers of Logitech and other brands they carry. Personal Computers is also the distributor for Lenovo, Netnanny, and Vention in the Maldives. Netnanny is a software application that aims to create a safe internet space for children since 1997. Netnanny was introduced to the Maldives with the anti-cyberbullying campaign of Personal Computers “Nudhakkaa Vaahaka”. Personal Computers is the only ICT vendor in the market space that provides OEM warranty directly from the principle to infocommunication technology devices including the cables and peripherals.

Fisheries & Agriculture

Corporate Maldives | October 22

Opportunity Opened for Foreign Vessels to Purchase Fish in Maldives

Minister of Fisheries and Agriculture Dr. Hussain Rasheed Hassan has stated that the opportunity for foreign vessels to purchase fish from Maldivian fishermen has been opened. The Minister made the remarks in response to a question posed by Madaveli MP Hussain Firushan. Under the opportunity, foreign fishing vessels will be given the opportunity to enter Maldivian waters and purchase fish from Maldivian fishermen, said the Minister. He said that even if foreign fish purchasing vessels are allowed into Maldivian territory,

fishing vessels would not be allowed to enter. He also said that this was part of the government’s strategic action plan. Responding to a question posed by opposition PMC MP Mohamed Saeed, who asked how the government would differentiate between vessels, the Minister said that this will be done based on the equipment found on the boat. Elaborating on this response, Speaker of the Parliament Mohamed Nasheed stated that equipment on the vessel must be declared when obtaining clearance to enter Maldivian waters.

Corporate Maldives | October 22

Fisheries & Agriculture

Fishermen’s Day to be Officially Marked in G.Dh. Faresmaathodaa

On the recommendation of the Cabinet, President Ibrahim Mohamed Solih has decided that the official reception for the 42nd National Fishermen’s Day would be held on Faresmaathodaa Island in Gaafu Dhaalu Atoll this year. The decision was made at a Cabinet meeting on 14th September after deliberating on a paper submitted by the Ministry of Fisheries, Marine Resources and Agriculture.

Since 1981, 10th December has been celebrated as National Fisherman’s Day in the Maldives. In 2021, Fishermen’s Day was celebrated in Gaafaru Island in Kaafu Atoll, while this year’s celebrations are open for the Maldives’ southern atolls.

Trade

Corporate Maldives | October 22

Maldives Records 60% Increase in Exports and 78% Increase in Imports in June 2022

Maldives has recorded an increase in imports coupled with a decrease in exports during August 2022, compared to the same period last year. As per the monthly statistics released by Maldives Custom Service, Maldives exported MVR 115 million in commodities during the month of August 2022. This is a 53 percent decrease compared to the same period last year.

Corporate Maldives | October 22

Trade

Major exported commodities include MVR 48 million in skipjack tuna and MVR 29 million in frozen skipjack or stripe-bellied bonito. TOP EXPORTING COUNTRIES

24%

GERMANY MVR 27 MILLION

20%

MAURITIUS MVR 23 MILLION

17%

UK MVR 19 MILLION

BANGLADESH MVR 10 MILLION

INDIA MVR 7 MILLION

Meanwhile, Maldives imported MVR 4.8 billion in commodities during the month of August 2022. This is a 48 percent increase compared to the same period last year. TOP IMPORTING COUNTRIES

22%

OMAN MVR 1.1 BILLION

15%

INDIA MVR 722 MILLION

11%

CHINA MVR 510 MILLION

Maldives Customs Service further recorded revenue of MVR 391 million during August 2022, which is a 36 percent increase from the same period last year.

10%

UAE MVR 466 MILLION

SINGAPORE MVR 402 MILLION

Corporate Maldives | October 22

Utilities

STELCO’s Main Purpose is to Serve the Public: MD Shareef

Managing Director of State Electric Company (STELCO) Ahmed Shareef has stated the main purpose of the company is to serve the people. Shareef made this remark at a recent ceremony held to sign an agreement with the councils of islands in Ari Atoll.

social events and council-organized activities. Shareef added that in order to accomplish this, the business would do everything in its power to contribute to the councils’ work.

STELCO is in charge of repairing and maintaining the street lights on the islands that are part of Alifu Alifu and Alifu Dhaalu Atolls. During the event, Shareef stated that STELCO was founded by the government to serve the people.

“We want to let the atoll and island councils know that this will be accomplished. We are not accepting the duty simply for the sake of our name. The government has given us the responsibility of maintaining and fixing the streets on the islands, and we will do so to serve our people,” explained Shareef.

According to Shareef, STELCO wants to empower the locals and island councils in the atolls, as the company has always desired to take part in

Shareef said that since STELCO is a 100% stateowned company, it will act in accordance with the government’s aims.

Corporate Maldives | October 22

Utilities

Jebel Ali UAE

Mundra Mumbai

Krishnapatnam

Bangkok

Chennai

Laem Chabang Ho Chi Minh

Tuticorin 1

UAE – Thilafushi

Service began in in June 2022 Monthly sailings between UAE and Thilafushi, Maldives 2

Penang

Port Klang

Tuticorin - Malé

Southeast Asia Service

Service is commencing from September 2022 onwards Service available from key ports of Southeast Asia: • Singapore Port, Singapore • Port Klang, Pasir Gudang, Tangan Pelapas & Penang, Malaysia • Jakarta & Surabaya, Indonesia • Ho Chi Minh, Vietnam • Bangkok & Laem Chabang, Thailand

Tanjung Pelepas Pasir Gudang

Service began in November 2021 Regular 10 days’ voyage between Colombo Port and Malé Port

AG E NT D E TA I L S Maldives State Shipping Company (Pvt) Ltd 3rd Flr, STO Trade Center, Orchid Magu, Male', 20188, Republic of Maldives General Inquiries: +960 3029200

| |

Singapore

Colombo - Malé

Sales Inquiries: +960 7349700

Malé, Maldives

Service began in September 2020 Regular scheduled voyages between Tuticorin - Male

Colombo

info@stateshipping.mv sales@stateshipping.mv

Documentation Inquiries: +960 7309700

docs@stateshipping.mv

Jakarta

Surabaya

Maldives Shipping Services Lanka (Pvt) Ltd No.33, Level 15, Park Land, Park Street, Colombo 02 General inquiries: Tel: +94 76 772 8725 Email: sujith.dias@stateshipping.mv Sales inquiries: Tel:+94 71 232 5060 Email: nadeera.withanage@stateshipping.mv

Corporate Maldives | October 22

Environment & Sustainability

Discovery of New Ecosystem ‘The Trapping Zone’, an Oasis of Life in the Maldives

PHOTOS BY NEKTON MISSION

Corporate Maldives | October 22

Scientists on the Nekton Maldives Mission have discovered evidence of ‘The Trapping Zone’ – an oasis of oceanic life observed at 500 meters – which is likely a previously undescribed ecosystem. “The discovery of ‘The Trapping Zone’ and the oasis of life in the depths surrounding the Maldives provides us with critical new knowledge that further supports our conservation commitments and sustainable ocean management, and almost certainly supports fisheries and tourism,” explained the President of the Maldives H.E Ibrahim Mohamed Solih. “Image data, combined with the biological samples we have collected from our submersibles and extensive sonar mapping all point to megafauna predators such as sharks and other large fish feedings on swarms of micro-nekton – small swimming creatures that are trapped against the subsea landscape at that depth,” detailed Professor Lucy Woodall, Nekton Principal Scientist. The volcanic subsea strata and fossilised carbonate reefs which form the base of Maldivian atolls combine steep vertical cliffs and shelving terraces which appear to cause these species to be prevented from diving any deeper as the sun rises. These animals typically migrate from the deep sea to the surface at night and dive back down into the deep at dawn, otherwise known as The Vertical Migration – the largest nightly migration on Earth. The trapped animals are targeted by large pelagic predators, including schools of tuna and

Environment & Sustainability

sharks, along with well-known, large deep-water fish including the spiky oreo (named after the biscuit) and alfonsino. “We’ve observed sharks in shallower waters quite extensively in the Maldives before, but for the first time we have been able to document an immense diversity of sharks in the deep sea,” explained Shafiya Naeem, Director General of the Maldives Marine Research Institute, which has partnered with Nekton on the expedition. Tiger sharks, six-gill sharks, sand tiger sharks, dogfish, gulper sharks, scalloped hammerhead sharks, silky sharks, and the very rare bramble shark have all been documented. Marine ecosystems are defined by both topography and ocean life. “This has all the hallmarks of a distinct new ecosystem,” explained Professor Alex Rogers who has spent over 30 hours underwater in the mission’s submersibles observing ‘The Trapping Zone’ during the expedition. “The Trapping Zone is creating an oasis of life in the Maldives and it is highly likely to exist in other oceanic islands and also on the slopes of continents,” added Professor Rogers. Whilst a trapping effect has been associated with the biodiversity hotspots on subsea mountains or seamounts, it has not previously been linked to the different geomorphology and biological parameters of oceanic islands, like the Maldives. “Maldives, a coral atoll archipelagic nation is facing existential threat caused by human impacts and climate change. For our very survival

Environment & Sustainability

Corporate Maldives | October 22

as a nation, we ought to look for science-based solutions that help us to mitigate and adapt to the disastrous effects of climate change,” explained Dr. Hussain Rasheed Hassan, Minister of Fisheries, Marine Resources, and Agriculture. “The evolutionary history of this beautiful coral atoll nation is written as a record on the bedrock, deposits, and fauna of the deep. This Mission is shedding light on how we may use science to survive as a nation.” Analysis of the video and biological data is ongoing in the Maldives, Nekton’s UK headquarters in Oxford, and at partner laboratories. The discovery could have important implications for other oceanic islands and the slopes of continents, sustainable fisheries management, the burial and storage of carbon, and ultimately, climate change mitigation. Previous Nekton missions have led to major scientific breakthroughs. Its expedition to Bermuda in 2016 confirmed the discovery of the Rariphotic Zone, or rare light zone, a new ecosystem found at depths between 120 metres and 300 metres.

“We’ve observed sharks in shallower waters quite extensively in the Maldives before, but for the first time we have been able to document an immense diversity of sharks in the deep sea,” Shafiya Naeem, Director General of the Maldives Marine Research Institute, which has partnered with Nekton on the expedition

Corporate Maldives | October 22

Environment & Sustainability

Corporate Maldives Events

Corporate Maldives | October 22

Corporate Maldives Business Expo 2022 Concludes

Corporate Maldives Business Expo 2022 has come to an end. This highly anticipated event was held on 4th and 5th October 2022 at Dharubaaruge. As an international business networking & trade show of the Maldives, focused on building valuable relationships within the B2B community, Corporate Maldives Business Expo is a premier networking event where business exhibitors and corporate professionals can preschedule meetings through Corporate Maldives “Network”.

During the Corporate Maldives Business Expo 2022, three summits took place — the Maldives Marketeers Forum, the Maldives Women’s Summit, and the Maldives Entrepreneurs’ Summit. Corporate Maldives Business Expo was attended by the entire business community. Over 50 businesses from different sectors exhibited to create new business opportunities.

Corporate Maldives | October 22

Renowned Marketing Professionals Address at the Maldives Marketeers Forum Maldives Marketeers Forum was held on 4th October 2022, as part of Corporate Maldives Business Expo 2022. Maldives Marketeers Forum is a unique and innovative event designed to engage, challenge and inspire business leaders and marketers in the Maldives. This year’s Maldives Marketeers Forum focused on the role of content creation in making a successful business. This forum was carried out with a keynote speaker, along with individual speakers and a panel. Maldives Marketeers Forum commenced with a speech by the keynote speaker, Niushad Shareef, Director of Sales & Marketing at Housing Development Corporation. The forum also consisted of individual speakers focusing on different aspects of marketing — Ahmed Zaidhan, Senior Partner, Strategy & Communications of Maldives Consulting Group, Hassan Sharih Adam, Assistant Manager Advertising & Events of Dhiraagu, and Shaufa Ali, Chief Marketing Officer of Publicity Bureau. This was followed by a panel discussion, moderated by Niushad Shareef, Ahmed Zaidhan and Hassan Sharif Adam, along with Abdulla Mufeedh, Resort Manager of Hard Rock Hotel Maldives, Ahmed Mauroof, Managing Partner of Yey Studio, and Hussain Shiham, CEO of Blinx media Private Limited.

Corporate Maldives Events

Inspiring Women Leaders Address at Maldives Women’s Summit 2022 Maldives Women’s Summit commenced with a speech by one of the keynote speakers, Aminath Shaly, Human Resource Director at Oaga Resorts focusing on the topic of family life and work balance. This was followed by a panel discussion for this topic. Panelists included Yashfa Hassan, Director of Retail at the Marina @ CROSSROADS Maldives; Dhiyana Afeef, Head of Customer Care at Ooredoo Maldives; Aishath Niha, Assistant Director of Human Resource Management of Housing Development Corporation Ltd and Ishana Waleedh, Director at Symphony. The second keynote speaker Dr. Zakiyya Moosa, Dean, Center for Research and Innovation, Avid College talked about the challenges for women to reach the top of organisations. The second panel discussion included Aishath Shahudha, Deputy Chief Statistician of MBS; Haneefa Hilmy, Owner and National Director of He n She Maldives; Guraisha Ismail, Deputy Chief Human Resources Officer of Maldives Airports Company Limited; and Hazrath Hussain, Director, Legal & Company Secretary, at Dhiraagu

Corporate Maldives | October 22

Remarkable Panelists Address at the Maldives Entrepreneurs’ Summit Maldives Entrepreneurs’ Summit was held on the night of 5th October 2022. It brought together a community of wellknown successful entrepreneurs whose actions are redefining the corporate bubble at the Corporate Maldives Business Expo at Dharubaaruge. This year’s Maldives Entrepreneurs’ Summit focused on good leaders and good businesses, and surviving the uncertainty: challenges and opportunities for business in the fastchanging world. Maldives Entrepreneurs’ Summit commenced with a speech by the keynote speaker Afeef Hussain, Senior Director – Maldives, Talent & Culture of LUX* Resorts and Hotels focusing on the topic of good leaders and good businesses. This was followed by a panel discussion for this topic. Panelists included Fathimath Nada Founder of Salon Maldives, Shifana Wajeeh, CEO of Heat Health & Fitness, and Ahmed Shaushaan Shafeeg, the chairman of MHC group. The second keynote speaker Iyaz Waheed, General Manager, Statutory Compliances of Universal Enterprises Private Limited talked about surviving uncertainty: challenges and opportunities for business in the fastchanging world. The panelists were Zoona Naseem, Owner & Co-Founder of Moodhu Bulhaa Dive Center, Ismail Shareef, General Manager of Al Shaali Marine Maldives, Ibrahim Inaz, CEO of Jobsicle Maldives and Hussain Shihab, Founder of Eches Private Limited. The summit offered a platform to discuss and understand the current opportunities and challenges faced by businesses, and creating capable leaders for the success of the companies in the Maldives and for the economic growth of the country.

Corporate Maldives Events

Corporate Maldives | October 22

Business Directory

Business Directory Aviation

ACE AVIATION SERVICES MALDIVES PRIVATE LIMITED +960 7776886 roshan@aceaviation.mv

Boat Manufacture & Marine Services AL SHAALI MARINE MALDIVES PVT LTD

BISON MALDIVES PVT LTD +960 331 5878 info@bison.com.mv www.bison.com.mv

+960 6646066 shareef@asmarinemaldives.com www.asmarinemaldives.com

FEDO PRIVATE LIMITED +960 333 3773 corporate@fedo.mv

AVIA MALDIVES PVT LTD +960 778 6419

D BLUE PVT LTD

commercial@aviamaldives.com

+960 7775254

www.aviamaldives.com

info@dblue.com.mv

www.fedo.mv

www.dblue.com.mv

RASHEED CARPENTRY & CONSTRUCTION PVT LTD ISLAND AVIATION +960 3335566

+960 331 7878

Construction

inquiries@rcc.com.mv www.rcc.com.mv

sales@iasl.aero www.maldivian.aero

ABC CONSTRUCTION PVT LTD +960 3003636 md@abcconstruction.com.mv www.abcconstruction.com.mv

SJ CONSTRUCTION PVT LTD +960 3300665 admin@sjconstruction.mv

MALDIVES AIRPORTS COMPANY LTD

www.sjconstruction.mv

+960 3325511 info@macl.aero www.macl.aero

AMIN CONSTRUCTION PVT LTD VILLA HAKATHA +960 3324369 projects@aminconstruction.net www.amin.com.mv

+960 3327811 sales@vhpl.mv www.villa.mv

TRANS MALDIVIAN AIRWAYS +960 7637995 marketing@transmaldivian.com www.transmaldivian.com

ASK HOLDINGS PRIVATE LIMITED +960 3321550 info@ask.com.mv www.ask.com.mv

Education ISLANDERS EDUCATION PVT LTD +960 3022000 info@islanderseducation.com www.islanderseducation.com

Corporate Maldives | October 22

Electronics REEFSIDE COMPANY PVT LTD +960 332 3545

Business Directory

EURO GLOBAL MALDIVES PVT LTD

CEYLINCO INSURANCE COMPANY PVT LTD

+960 7775360

+960 969 3939

info@euroglobal.com.mv

info@ceylincoinsurance.com.mv

www.euroglobal.com.mv

www.ceylinco-insurance.com

reefside@reefsidemaldives.com www.reefside.mv

MALE’ AERATED WATER COMPANY PVT LTD REFCOOL +960 3309900 info@refcool.com.mv

+960 3329999 sales@mawc.com.mv

+960 3332668

www.mawc.com.mv

info@cbmmv.com www.cbmmv.com

www.refcool.com.mv

Engineering ILAA MALDIVES PVT LTD +960 335 5751 info@ilaamaldives.com

SYMPHONY MALDIVES PVT LTD +960 943 1561 info@symphonymaldives.com www.symphonymaldives.com

EVENT MALDIVES PVT LTD +960 7781702

FUEL SUPPLIES MALDIVES PVT LTD +960 3336655 www.fuelmaldives.com

Finance & Insurance ALLIED INSURANCE COMPANY OF THE MALDIVES PVT LTD

md@eventmaldives.com.mv www.eventmaldives.com.mv

Fuel Logistics

marketing@fuelmaldives.net

www.ilaamaldives.com

Event Industry

COMMERCIAL BANK OF MALDIVES PVT PTD

THE HAWKS PVT LTD +960 334 4949 info@thehawks.biz www.thehawks.biz

+960 3300033 info@allied.mv www.allied.mv

Healthcare

Food & Beverages CITY INVESTMENTS PVT LTD +960 3342862

AMÃNA TAKAFUL MALDIVES PUBLIC LIMITED COMPANY

info@city.com.mv

+960 3315262

www.city.com.mv

info@takaful.mv www.takaful.mv

ENSIS FISHERIES PVT LTD +960 3356677 info@ensisgroup.com www.ensisgroup.com

BANK OF MALDIVES PLC +960 3315262 info@takaful.mv www.takaful.mv

MEDTECH MALDIVES PRIVATE LIMITED +960 330 8663 info@medtechmaldives.com www.medtechmaldives.com

Corporate Maldives | October 22

Business Directory

ICT

Logistics

ATOLLMARKET PVT LTD

ASIA FORWARDING PVT LTD

+960 3326297

+960 3343041

info@atollmarket.com

info@theasiaforwarding.com

www.atollmarket.com

www.theasiaforwarding.com

DONAD INVESTMENTS PVT LTD +960 3336096 info@metalsigns.com.mv www.metalsigns.com.mv

M7 PRINT PVT LTD KEIRETSU PRIVATE LIMITED +960 7924636

CENTURION TRANSPORT SOLUTIONS PRIVATE LIMITED

+960 3307787 print@m7maldives.com www.m7maldives.com

info@keiretsu.mv www.keiretse.mv

+960 3309668 info@centurion.mv www.centurion.mv

+960 3318844

LINK SERVE PVT LTD +960 3003000 sales@linkserve.com.mv www.linkserve.com.mv

NOVELTY PRINTERS AND PUBLISHERS PVT LTD sales.printers@novelty.com.mv

LEO TRADING PRIVATE LIMITED

www.novelty.com.mv

+960 3006638 leo@trading.mv www.leotrading.mv

PRINT LAB

MAXCOM TECHNOLOGIES PVT LTD

+960 3333022 info@printlab.com.mv

+960 777 8220 sales@maxcom.com.mv www.maxcom.com.mv

www.printlab.com.mv

MALDIVES STATE SHIPPING +960 3029200 info@stateshipping.mv www.stateshipping.mv

HOUSING DEVELOPMENT CORPORATION LIMITED

MEGACHIP ELECTRONICS PVT LTD info@megachipcomputers.com

TTS GROUP MALDIVES PVT LTD

www.megachiplive.com

+960 3011888

+960 3333088

Real Estate

+960 3353535 mail@hdc.com.mv www.hdc.com.mv

info@ttsgroup.com www.ttsgroupmaldives.com

Safety & Security PERSONAL COMPUTERS +960 3003033 marketing@personalcomputers.mv

Print, Publishing & Signage

www.personalcomputers.mv

GAGE PVT LTD +960 3304055 info@gage.com.mv www.gage.com.mv

COPIER PLUS (PVT) LTD +960 7772612 copeirplus@gmail.com www.copierplus.com.mv

Corporate Maldives | October 22

Telecommunications

Business Directory

ARENA PVT LTD +960 7778599

DHIVEHI RAAJJEYGE GULHUN PUBLIC LIMITED COMPANY

MALDIVES INFLIGHT CATERING PRIVATE LIMITED

samih@arenabeachmaldives.com

+960 3330888

www.arenabeachmaldives.com

reservations@hih.com.mv www.hih.com.mv

+960 3322802 info@dhiraagu.com.mv www.dhiraagu.com.mv

CROWN & CHAMPA RESORTS +960 6640219 info@crownandchamparesorts.com www.crownandchamparesorts.com

DHIVEHI VIUGA PRIVATE LIMITED

MALDIVES GETAWAYS +960 7966551 maldives@getaways.mv www.getaways.mv

+960 3344652 info@dhivehiviuga.com www.dhivehiviuga.com

INTOUR MALDIVES PVT LTD +960 3339994 info@intourmaldives.com www.intourmaldives.com

RESORT LIFE MALDIVES PVT LTD +960 3355767 info@resortlife.travel www.resortlife.travel

OOREDOO MALDIVES +929 or +960 9613929 care@ooredoo.mv www.ooredoo.mv

JETAN TRAVEL SERVICES COMPANY PVT LTD +960 3315238

RAAJJE ONLINE

SILVER SANDS PVT LTD

suresh@aitkenspace.lk

+960 3342737

www.adaaran.com

info@silversands.com.mv www.silversandsdiving.com

+960 3014232 marketing@rol.mv www.rol.net.mv

Tourism & Hospitality

JOHN KEELLS MALDIVIAN RESORTS PVT LTD

SPLENDID ASIA PVT LTD

+960 3336000

sales@splendidasia.com

resorts@cinnamonhotels.com

www.splendidasia.com

+960 3312460

www.cinnamonhotels.com

ACE TRAVELS MALDIVES PRIVATE LIMITED +960 7776886 roshan@acetravels.mv

UNIVERSAL ENTERPRISES KAIMOO TRAVELS & HOTELS SERVICES PRIVATE LIMITED

+960 3323080

+960 3322212

www.universalresorts.com

reservations@universalresorts.com

kaimoo@dhivehi.net.mv www.kaimoo.com

ANGIRI RESORTS MANAGEMENT & OPERATIONS PVT LTD +960 3313523 info@angiri.com www.angiri.com

VOYAGES MALDIVES PVT LTD +960 3322019 info@voyagesmaldives.com www.voyagesmaldives.com

Corporate Maldives | October 22

Business Directory

VILLA TRAVELS

CHANDELIER COMPANY PVT LTD

M.H.A. PRIVATE LIMITED

info@villatravels.com

+960 3343876

info@mha.mv

www.villatravels.com

sales@chandelier.com.mv

www.mha.mv

+960 3330088

+960 3323246

www.chandelier.mv

Utilities MALE’ WATER AND SEWERAGE COMPANY PRIVATE LIMITED

CO-LOAD (MALDIVES) PVT LTD +960 3320450 admin@coload.com.mv

+960 3323209

MALDIVES GAS PVT LTD +960 3335614 info@maldivesgas.com www.maldivesgas.com

www.coload.com.mv

mail@mwsc.com.mv www.mwsc.com.mv

REDWAVE PVT LTD

STATE ELECTRIC COMPANY LIMITED

DAMAS COMPANY PVT LTD

+960 9194499

+960 3333000

www.redwave.mv

info@damas.com.mv

sales@redwave.mv

www.damas.com.mv

+960 3320982 admin@stelco.com.mv www.stelco.com.mv

Wholesale & Retail

SEAGULL GROUP PVT LTD HAPPY MARKET TRADING COMPANY PVT LTD

+960 3323617 info@seagullmaldives.com www.seagullmaldives.com

+960 3313523 info@happymarket.com.mv

AH BROTHERS PTE LTD

www.happymarket.com.mv

+960 3305515 marketing@ahb.com.mv

SENIOR INTERNATIONAL PVT LTD

www.ahb.com.mv

JAAH PVT LTD +960 332 9988

+960 3332002 info@serniormaldives.com

info@jaah.com www.jaah.mv

APOLLO HOLDINGS PRIVATE LIMITED +960 3320065

SENIOR TRADING PVT LTD

info@apolloholdings.com.mv www.apolloholdings.com.mv

LIFE SUPPORT PVT LTD +960 333 4646 info@lifesupport.mv www.lifesupport.mv

+960 3318848 lotusbikeshop@gmail.com

Corporate Maldives | October 22

Business Directory

SONEE HARDWARE PVT LTD

ANTRAC HOLDING PVT LTD

+960 3336699

+960 3310096

info@sonee.com.mv

info@antracholding.com

www.sonee.com.mv

www.antracholding.com

MALDIVES TRANSPORT AND CONTRACTING COMPANY PLC +960 3326822 info@mtcc.com.mv www.mtcc.mv

SONEE SPORTS PVT LTD

EYECARE PVT LTD

+960 3335995

+960 3324300

info@soneesports.com.mv

info@eyecare.com.mv

www.soneesports.com

www.eyecare.mv

MEDIANET PVT LTD +960 3320800 customerservice@medianet.com.mv www.medianet.mv

STATE TRADING ORGANIZATION PLC 1422 info@sto.mv

HANDY HOLDINGS PVT LTD +960 3310812 info@handyholdings.com

+960 3341545

www.handyholdings.com

info@micollege.edu.mv www.micollege.edu.mv

www.sto.mv

HORIZON FISHERIES PRIVATE LIMITED SUN FRONT PVT LTD

+960 332 8855

+960 3313313

sales@horizonfisheries.com

adminhr@sunfront.com.mv

MIANZ PTV LTD

www.horizonfisheries.com

MUNI GROUP OF COMPANIES +960 3331512 info@muni.com.mv www.munihomecare.com

www.sunfront.com.mv

VB BROTHERS PVT LTD +960 3343840 info@vbbrothers.com.mv www.vbbrothers.com.mv

HOUSING DEVELOPMENT FINANCE CORPORATION PLC +960 3334666

VILLA SHIPPING AND TRADING COMPANY PVT LTD

info@hfdc.com.mv

+960 3320356

www.hdfc.com.mv

info@villahotels.com.mv www.villa.mv

Other ADK GROUP OF COMPANIES +960 3010086 nashid@adkenterprises.com www.adkhospital.mv

LITUS AUTOMOBILES PRIVATE LIMITED +960 7444117 asif@litusgroup.mv www.litus.mv

Corporate Maldives | October 22

WEISSTRAD

www.weisstrad.com

Corporate Maldives | October 22

WWW.ASMARINEMALDIVES.C OM | +960 664 6066 | INFO@ASMARINEMALDIVES.C OM

Corporate Maldives | October 22

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Corporate Maldives | October 22

network.corporatemaldives.com

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