GOLD 100 - Leading Companies of Maldives

Leading Companies of Maldives 2022

HAWKS FUEL TERMINAL

The fuel terminal with a storage of 30,000cbm of fuel is equiped with a berth wharf of 60 meters. Features 8 fuel stations for diesel and 6 for petrol with a cargo loading / discharging rate of 15,000 tons in approximately 24 hours.

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.

PRODUCED & PUBLISHED BY

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

orcamedia.group

Managing Director & CEO

IBRAHIM AREEF

Director -Digital Strategy

AKHMEEM ABDUL RAZZAQ KUDIE MA’AAN ABDULLA NUHA HASSAN

Manager - Content Production

Senior Content Creator

Content Creator

ZAYA AHMED

Chief Design Officer

MOHAMED KHOORSHEED Director - Content Creation AHMED NASIR

ALI SAGEEF IBRAHIM MOHAMED MIZYAN

Managing Editor Assistant Manager - Media & Marketing

ZEEK ASHRAF NASHAMA MOHAMED RAAYA ABDULLA FATHIMATH ZEEN MOHAMED AMINATH SUHA MOHAMED

Manager - Accounts & Admin Digital Marketeer

FATHIMATH SHAAIRA

HAMDHOON W.

Designer

THOO NAZIM MOHAMED LIHAZ

MOOTHI

Chief Operating Officer Associate Editor Design Manager Consultant

Publisher’s Note

A very warm welcome to the sixth edition of Corporate Maldives’ Gold 100 magazine, the annual listing of the 100 leading business entities of Maldives.

The “Gold 100 Gala Night 2021” was an unbridled success and the positive feedback from event partners, participants and winners of previous years only strengthen our resolve to make our sixth Gold 100 Gala an even more prominent event than before.

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

Just as with the previous editions of Gold 100, in addition to awarding the winners, Corporate Maldives also recognizes visionary business leaders with the Lifetime Achievement Award. The winner of this year’s distinguished award is Mr. Mohamed Salih, the Chairman of Damas Company Pvt Ltd. As a pioneer in his field, Mr. Salih is a living legend in the business community and a role model for many young entrepreneurs in Maldives.

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

Thank you.

INVESTING IN MALDIVES

Country Introduction

Overview Economic Overview of Maldives Government Budget 2022 Legal & Regulatory Framework Financial Sector of Maldives

01 01

COUNTRY

INTRODUCTION

Contributed by

MALDIVES ASSOCIATION OF FINANCE INDUSTRY & COSMOS INVESTMENT ADVISORS

Overview

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

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

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

Photography by: Dynamyst

Economic Overview of Maldives

The quarterly economic bulletins and annual report released by the Maldives Monetary Authority has revealed that the Maldivian economy was on the recovery path in the year 2021 in spite of the impacts of the new Omicron variant towards the end of the year and persistent supply chain disruptions which also impacted the global economy.

The Gross Domestic Product (GDP) of the Maldivian economy strongly recovered in Q3-2021 and strengthened further in the Q4-2021 dispute of the travel restrictions by governments across the globe due to the Omicron variant of COVID-19. The Quarterly National Accounts (QNA) estimates released by the National Bureau of Statistics revealed that the reag GDP of the country had a strong annual growth of 76.5% in Q3-2021. During Q3-2021, the

tourism sector grew by 40.7% along with the contribution from the transportation and communication sector grew by 10%. The tourist arrivals of Q4-2021 rose threefold compared to Q4-2020 from 153,684 to 451,075 along with the momentum of the tourism peak season, almost reaching the pre-pandemic tourist arrival numbers in Q42019. The tourist bednights increased by 191% in Q4-2021 compared to Q4-2020 which is a 9% increase compared to pre-pandemic period of Q4-2019. Also, the international flight movements data reflects a 154% increase in flight movements in Q4-2021 compared to the same period in the previous year.

Inbound Tourist Arrivals

- 2021

Source: Ministry of Tourism

Contribution to Real GDP Growth by Economic Sector 2017 - 2021

Source: Maldives Bureau of Statistics

The Maldivian economy observed a significant growth during the traditional peak season of the tourism sector, as the resorts in operation increased from 140 resorts in Q4-2020 to 161 resorts in Q4-2021. The operational bed capacity rose by 40% where resorts account for 72% of beds while guesthouses account for 20% of beds. The tourism industry had a occupancy rate of 65% in Q42021 compared to 30% during the same period in 2020 while resorts had a occupancy rate of 79%. In addition, higher vaccination rate in Maldives with 68% of the eligible population fully vaccinated has enabled to further increase the economic activities with eased travel restrictions.

Moreover, the construction sector recovered moderately in Q4-2021 where the import of construction-related items increased by 62% year-on-year with the contribution of public infrastructure projects and private residential and

property development projects. Furthermore, activities in the wholesale and retail trade sector have also expanded during Q4-2021 supported by the strong growth of the tourism sector and overall increase in domestic demand. Such as the private sector imports excluding imports by the tourism sector increased by 73% in annual terms. Besides, the fisheries sector had an annual decline of 34% in Q3-2021 which worsened further in Q4-2021 where the volume of fish exports also declined by 24% in comparison to Q4-2020.

The revenue of the government excluding grants increased by MVR 1.1billion in Q3 2021 in comparison to Q32020 totalling to MVR 5.0 billion contributed by a major increase in tax and non-tax revenues. This is the result of a significant increase in both tax revenue and non-tax revenue where tax revenues reflected an annual increase of MVR 445.8 million, a 74% increase compared to Q32020. The increased tax collections was mainly due to the recovery of the tourism sector where the tourism goods and services (T-GST) accounted for MVR 724.6 million which is the main single source of income for the government. Moreover, with the recovery of domestic demand, the import duties observed an annual increase of MVR 415.0 million. In addition, the largest increase within the non-tax category is the collection of rent from resorts accounting for an increase of MVR 535.0 million in Q3-2021 compared to Q3-2020.

The total government expenditure excluding debt amortization recorded an increase in annual terms of MVR 990.1 million and totalling to MVR 8.5 billion in Q3-2021. This is mainly due to the significant increase in recurrent expenditure amounting to MVR 751.6 million and capital expenditure of MVR 238.5 million. Furthermore, the rise in expenditure on other infrastructure assets, and expenditure on roads, bridges, and airports amounted to MVR 344.2 million and MVR 247.4 million respectively.

Composition of Tax Revenue 2017 - 2021

Composition of Imports (miilion of US dollars)

The Consumer Price Index (CPI) of the economy decreased to 0.1% in Q4-2021 from 0.5% in Q3-2021 as the price pressures decreased in most of the categories of CPI mainly contributed by the decline of prices of information and communication services where the cost of information and communication services fell by 14.1%. Besides, energy sub-category inflation contributed 0.15 percentage points to inflation with a 32% increase in petrol prices while food inflation rose by 2.4% with higher import prices, rise in global food and energy prices, and foreign exchange shortages along with effects related to COVID-19 policy measures and increased domestic demand.

The annual monetary developments in broad money growth accelerated to 27% by the end of December 2021. This was due to growth in local currency-denominated transferable deposits, savings, and timed deposits along with a growth in currency outside depository corporations. Additionally, a marginal increase was observed for foreign currency denominated demand deposits. Referring to the external trade, the total merchandise exports had an annual increase of 17% during Q4 2021 as a result of the significant increase in merchandise re-exports despite the decline in domestic exports.

Such as the merchandise re-exports rose by 158% during the quarter contributed by re-exports of jet fuel as a result of the major recovery of the tourism sector during the period. Moreover, the merchandise imports had a significant annual increase in major import categories petroleum products USD 80.2 million (137%), food items USD 79.1 million (81%), construction-related items USD 43.7 million (62%), transport equipment and parts USD 36.9 million (154%), and machinery and mechanical appliances USD 29.9 million (66.9%). Furthermore, the Gross International Reserves (GIR) decreased to USD 791.2 million by the end of Q4-2021 reflecting the fall in short-term liabilities due to the repayment of the swap with the RBI in December 2021.

Government Budget 2022

A government budget is an annual financial statement that outlines the estimated government expenditure and expected government receipts or revenues for the forthcoming fiscal year, which may or may not correspond with the current calendar year. In the Maldives, the Ministry of Finance is the government authority to set and forecast the budget for the forthcoming fiscal year.

The Finance Ministry has proposed a total of MVR 37 billion as the state budget for the year 2022. The 2022 budgeted MVR 34.1 billion as expenditure for the year while the estimated revenue is at 24.28 billion leaving a budget deficit of MVR 9.8 billion compared to a deficit of MVR 12.3 billion in 2021.

The 2022 budget will mainly focus on recurrent expenditures which account for MVR 24.8 billion of the budget. While MVR 12.2 billion has been set for capital expenditure, MVR 6.3 billion has been allocated for PSIP. Hence, with 17.03% of the total budget being allocated for PSIP, the budget complements the aims of the government to accomplish various development programs in the Maldives.

REVENUE AND EXPENDITURE

It is estimated that the government would receive MVR 24.28 billion as revenue and grants in 2022, of which tax revenue constitutes the major item. Government revenue is classified under three main headings – tax revenue, nontax revenue and grants.

The estimated budget for 2022 is MVR 37 billion, of which total expenditure is 34.1 billion. Total expenditure is calculated by deducting loan repayments and contributions to international financial institutions.

Government expenditure is made up of two main components; recurrent expenditure (expenditure incurred for the day-to-day running of the government and providing public services) and capital expenditure (expenditure on infrastructure projects and capital items such as machinery).

The estimated budget balance for 2022 is a deficit of MVR 9.8 billion. This deficit is financed through various financial instruments such as Bonds, Sukuk, Treasury Bills and other means of borrowings.

The overall budget balance is the difference between total revenues and grants, and expenditures. There will be a budget deficit if the total expenditures are higher than the total revenues and grants. The primary budget balance is the overall balance after deducting loan servicing costs.

BUDGET DETAILS

ECONOMIC AFFAIRS

According to the ministry of finance, the biggest portion of the budget for 2022 is allocated for economic affairs. The 2022 Budget includes a total of MVR 8,096 million on economic affairs. Most of the expenditure in this sector (MVR 3,466 million) is allocated for economic diversification, labor affairs and the development of the private sector while MVR 2,418 million is allocated for transport.

According to the ministry of finance, the second-highest amount in the 2022 budget is allocated for General Public Services and Recreation, Culture and Religion. The 2022 budget allocates MVR 1,731 million on the provision of general public services while a total of MVR 1,568 million is allocated for executive and legislative organs, financial and fiscal affairs, and external affairs and MVR 163 million on general public services. Moreover, MVR 426 million is allocated for recreation and sporting services while MVR 281 million is allocated for religious and other community services. The remaining MVR 5,777 million is to be utilized for debt services and amortization.

GENERAL PUBLIC SERVICES AND RECREATION, CULTURE AND RELIGION EDUCATION

The education sector is one of the key areas the government is focused on in its budget for 2022. Therefore, it has allocated MVR 4,067 million for the education sector. Among that, MVR 949 million is allocated for tertiary education while MVR 3,117 million is allocated for other levels of education.

HEALTH

The 2022 budget includes a total of MVR 4,640 million for the provision and expansion of healthcare services. From this budget, MVR 3,784 million is allocated for hospital services while MVR 603 million is allocated for general health services.

SOCIAL PROTECTION

Expenditures on this function aim to promote equality within the society. From the budget allocated for this sector, MVR 1,206 million is allocated for sickness and disability allowances, MVR 1,404 million for pension of elderly, and MVR 449 million for other expenditure for social protection.

The 2022 Budget has allocated a total of MVR 3,059 million for this sector.

MVR 2,483 million is allocated for housing and community amenities in the 2022 Budget. Among this, the majority of expenditures (MVR 2,333 million) are on housing and community development. Other expenditures allocated in this sector are for providing drinking water.

DEFENCE, AND PUBLIC ORDER AND

SAFETY

The 2022 Budget allocates a total of MVR 1,675 million on defense related expenditures. The majority of this is spent on military defense with a total of MVR 1,656 million. Furthermore, the 2022 Budget allocates MVR 3,027 million for public order and safety. Most of the expenditures are on border control and public safety. This constitutes a total budget of MVR 1,928 million.

ENVIRONMENTAL PROTECTION

The 2022 Budget allocates a total of MVR 1,543 million on environmental protection. Expenditure on this function includes waste management, wastewater management, pollution abatement, protection of biodiversity and landscape, among others. The largest component, among this, is sanitation in islands for which MVR 836 million is allocated for in the 2022 Budget.

Legal & Regulatory Framework

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

The Constitution of Maldives

The laws enacted by Parliament

The Regulations published under existing laws

Guidelines and rules issued by government ministries and institutions

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

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

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

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

Financial Sector of Maldives

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

Rf Rf Rf Rf Rf Rf Rf Rf Rf Rf Rf Rf Rf Rf Rf Rf Rf Rf Rf Rf Rf

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

The Maldives Monetary Authority and the Capital Market Development Authority are the regulators of the financial sector of the country. The CMDA is responsible for regulating and developing the securities market and the pension fund, while all the other financial institutions and service providers are licensed, supervised and regulated by the MMA.

MALDIVES MONETARY AUTHORITY

The Maldives Monetary Authority is the central bank of the Maldives and the main regulator of the financial sector. It was established on 1st July 1981, under the mandate provided by the MMA Act (1981)

MONETARY POLICY

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

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

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

The key functions of the MMA are as outlined below:

Issue and regulate the availability of the Maldivian rufiyaa

License, supervise and regulate the financial sector Maintain price stability Advise the government on banking and monetary matters

MR. MOHAMED SALIH Chairman of Damas Company Pvt Ltd

Lifetime Achievement

Mohamed Salih began his career in 1961 at the Royal Air Force in Gan, where he was trained as a draughtsman and a foreman of trade of Building and Civil Engineering. Using his experience gained during his time with Royal Air Force Gan, he thereafter ventured into entrepreneurship in the construction and trading sectors. As an entrepreneur with a vision for the future, Mr. Salih’s early works in the construction industry paved the path for future endeavors.

He is the chairman of Damas Company Pvt Ltd and since its inception, Damas has grown and transformed into one of the most reputed groups in the Maldives, helmed by a pioneering leader who inspires action. In addition to trading Damas has now further ventured into the real estate, hospitality, and medical industries within the Maldives.

Mr. Salih was an early entrant to the Maldives tourism sector in the 80’s when he and his partners developed Lhohifushi Island Resort (Presently Adaaran Select Hudhuranfushi), he subsequently was involved in the development of Adaaran Select Meedhupparu and Heritance Aarah, as well as Varu by Atmosphere. His other notable contribution to the tourism industry was being the managing director at the inception of MTDC, during the time the company successfully developed and brought into operation Herathera Island Resort in Addu.

Throughout his lifetime, Mr. Salih also contributed to the public service in various capacities which he carried out as duty to the nation. Some of the highlights included serving on the board of directors of the Maldives Monetary Authority, being a member of the Economic Advisory Committee to the President of the Republic of Maldives, serving as the Vice President of SAARC Chamber of Commerce and Industry, serving as the President of the Maldives National Chamber of Commerce and Industry, serving as a member of the revenue board of Ministry of Finance and Treasury, and serving as member of the advisory council at the Maldives Tourism Promotion Board under the Ministry of Tourism and Civil Aviation.

Gold 100 Companies

ABC Construction

Ace Travels Maldives

ADK Group of Companies

Al Shaali Marine Maldives

Allied Insurance Company

Amana Takaful

Amin Construction

Angiri Resorts Management & Operations

Antrac Holding

Apollo Holdings Arena Asia Forwarding Atollmarket

Avi Technologies

AVIA Maldives

Bank of Maldives

Bison Maldives

Capital Travel and Tours

Ceylinco Insurance Company

City Investments

Co-Load Maldives

Copier Plus

Cowrie Investments

Crown & Champa Resorts

D Blue

Damas Company

Dhivehi Raajjeyge Gulhun

Diethelm Travel The Maldives Donad Investments Dtech Company

Ensis Fisheries Event Maldives

EyeCare Fedo

Focus Infocom

Fuel Supplies Maldives

Gage Handy Holdings

Happy Market Trading Company

Hassan Marine Engineering Solutions Horizon Fisheries

Housing Development Corporation

Housing Development Finance Corporation

Ilaa Maldives

Intour Maldives

Island Aviation Services Limited Islanders Education

Jetan Travel Services Company

Kaimoo Travels & Hotel Services

Leo Trading

Life Support

Link Serve

Litus Automobiles

M.H.A

M7 Print

Maldive Gas

Maldives Airports Company

Maldives Industrial Fisheries Company

Maldives Islamic Bank

Maldives State Shipping Company

Maldives Transport and Contracting Company

Male’ Aerated Water Company

Male’ Water and Sewerage Company

Maxcom Technologies

Medianet

Medtech Maldives

Megachip Electronics

Mianz

Muni Group of Companies

Naadu

Nalahiya Trading

Novelty Printers And Publishers

Ooredoo Maldives

Personal Computers

Plaza Enterprises

Print Lab

Rainbow Aluminium

Rasheed Carpentry and Construction

Red Wave

Reefside Company

Refcool Seagull Group

Senior International Silver Sands

Sirius Enterprises

SJ Construction Sonee Hardware Sonee Sports

Souvenir Marine State Electric Company

State Trading Organization

Sun Front

Symphony Maldives

The Hawks

Trans Maldivian Airways

TTS Group Maldives

Universal Enterprises

Villa Shipping & Trading Company

Villa Travels & Tours

Voyages Maldives

ABC CONSTRUCTION PVT LTD +960 300 3636 md@abcconstruction.com.mv www.abcconstruction.com.mv

ABC Construction

MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT

INDUSTRY

OWNERSHIP

Ahmed Shaheeb

2009 211 Construction Private Held

ABC Construction Company Private Limited is one of the fastest growing construction companies in Maldives. The company was formed with the aim to become the leading construction company in Maldives by providing quality service to its clients. Since its establishment in 2009. Headquartered in Male’, the capital of Maldives, the company employs over 211 employees to make sure its clients are provided with the best construction and related services the company offers. Each member in the management team of this company has at least 13 years of prior experience in their respective fields in the construction sector of Maldives and they are fully committed to deliver quality service to the company’s clients.

PRODUCTS & SERVICES:

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

ACE TRAVELS MALDIVES PRIVATE LIMITED +960 777 6886 roshan@acetravels.mv

Ace Travels Maldives

MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP SUBSIDIARIES

Mohamed Firaq 2002 35 Travel Agent

Private Held Ace Aviation Services Maldives

Ace Travels Maldives is the leading Travel Management Company in Maldives. Since its inception in 2002, Agent has played an important role in catering to the travel needs supporting the expanding Tourism in the Maldives and it’s a JV between Inner Maldives Holidays and Aitken Spence Travels, Sri Lanka. The rapid growth of the company is due to the experience brought in by the two joint venture partners and the solid managements. The company has diversified into the aviation industry in 2007. Our main airline partners are SriLankan Airlines, Qatar Airways, Cathay Pacific, Indigo, US Bangla, Maldivian, Manta Air, Singapore Airlines, Emirates, Turkish Airlines, Flydubai & other key global airlines. Further, we are also moving ahead with our digital travel solutions in the future.

PRODUCTS & SERVICES:

Our Product & Services: Flight Tickets (Global/Domestic) | Hotel Packages & Tours (Maldives & Global) | Transfers (Global) | MICE Tours (Maldives/Global) | Student Travel Incentives| Medical Travel Incentives| VIP/CIP Supervision| Airport Ground Supervision (Maldives)| Lounge Arrangements (Maldives/Global) | Corporate Privilege Schemes | Railway & Cruise tours | Online Travel Agency solutions | Visas & Travel Insurance |UMRA & Hajj Tours

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

ADK Group of Companies

CEO / MANAGING

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP SUBSIDIARIES

DIRECTOR

Ahmed Nashid 1987 1100 Other Private Held

ADK Company Pvt Ltd

ADK Hospitals Pvt Ltd

ADK Pharmaceuticals Company Pvt Ltd

ADK Trade & Shipping Pvt Ltd ADK General Trading

The establishment of ADK Group Companies roots to the introduction of a small time medical practice, initially during the year 1987, swiftly developing and continuing on to revolutionize and develop at a fast pace between the years 1992 to 1996. Eventually, ADK Company inaugurated the first private, state of the art hospital in the Maldives. Being one of the first and most recognized names in the Healthcare Industry, ADK Group became the leader in providing medical and pharmaceuticals to the nation. ADK Group along with its subsidiaries succeeds in significant business sectors such as wholesale and retail of FMCG Goods, Real Estate Development, Logistical Services, leasing of Earth Moving Equipment as well as the Luxury Tourism Industry of Maldives.

PRODUCTS & SERVICES:

Healthcare Services, Sales of medical devices and equipment, retail and wholesale of multinational brands for pharmaceuticals and Nutritionals, optical services and products, wholesale and retail trade for multinational FMCG goods, logistical and transport solutions within the country as well as outbound shipping for heavy cargo, salvage operations for ocean vessels, and the operation of a Luxury Vessel contributing to the luxury tourism of the Maldives.

PVT LTD +960 799 8590 shareef@asmarinemaldives.com www.asmarinemaldives.com

Al Shaali Marine Maldives

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

Abdulla Al Shaali

2006 86

Boat Manufacture and Trade

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

Al Shaali Marine Maldives Pvt Ltd. (ASMarine) is a joint venture between Al Shaali Marine Dubai and Coastline Investments Pvt Ltd, established in Maldives in 2006. The main branch of AS Marine in UAE was established in 1979 and is considered to be the pioneer of fiberglass boats and yacht manufacturer in the Middle East. In the past couple of years AS Marine Maldives has built many of fiberglass dhoni and speedboats, and has achieved its target against competitive boat builders in Maldives. AS Marine Maldives is always introducing new products to Maldives boat market. Our dream is to ensure a variety of boats for customers in the Maldives’ boat building industry with competitive prices and best sought in terms of quality and designs.

PRODUCTS & SERVICES:

AS Marine Maldives manufactures a different range of products including speedboats, dhonis, and the Island Hopper 50. Now AS Marine Maldives builds boats for overseas customers and exports internationally. AS Marine Maldives continues to prove itself in the global market, achieving awards and certification for its quality and standards including the IS09001. Our services include: Boat Design & Manufacturing | Yacht Design & Manufacturing | Hauling & Servicing | Interior & Exterior Refurbishment | Semi & Fully Customized Solutions / Carpentry Work | Electric Jobs build Water Sports Launch | Speed Launch | Diving & Excursion Dhoni | 55ft inboard Speed Launch & 55ft Catamaran Hull and many more.

AL SHAALI MARINE MALDIVES

ALLIED INSURANCE COMPANY OF THE MALDIVES PVT LTD +960 330 0033 info@allied.mv www.allied.mv

Allied Insurance

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Mohamed Shafaz

1984 199 Financial And Insurance 99.9987% STO 0.0007% Maldive Gas

In 1985, Allied Insurance Company started off as a joint venture between Commercial Union Assurance Company, UK and State Trading Organization (STO), the nationwide leader of all commercial activities in Maldives. In early 1987, STO bought back shares of Commercial Union Assurance chartering Allied Insurance to continue doing the business as a subsidiary of the organization. Today with a local management, the company is one of the largest financial institutes and the most prominent insurance brand contributing to the growth and development of the country. Allied has had tremendous growth over the past decades, both in terms of the volume and business profitability.

PRODUCTS & SERVICES:

Motor, Home, Allied Inbound, Travel, Marine Hull, Dive, Health, Fire & Additional Perils, Group Health, Home Content, Hajj & Umrah, Expatriate Plus, Contractors All Risks, Cargo, Boat Building, Consequential Loss, Erection All Risks, Fidelity Guarantee, Guest House, Electronic Equipment, Group Term Assurance, Group Personal Accident, Professional Idemnity, Key Person, Machinery Breakdown, Dive, Public Liability, Mortgage Protection Plan, Individual Accident, Individual Term Assurance, Secondary School Expenses Plan, Ran Reyru, Kamana, Cashback Plan

+960 331 5262 info@takaful.mv www.takaful.mv

Amãna Takaful Maldives

CEO / MANAGING DIRECTOR

YEAR STARTED

EMPLOYMENT

INDUSTRY

OWNERSHIP

Hareez Sulaiman 2003 43

Financial and Insurance Public Ownership

Amãna Takaful Maldives PLC (ATM) is the only fully-fledged Takaful operator and has created a niche in the market with widespread acceptance garnered over the years.

From its humble beginning in 2003, ATM has been contributing for the impressive growth of Insurance industry in the Maldives. The reputation ATM reaped in its service quality lured a discerning clientele who have remained with the company for years. ATM underwrites all classes of business and serve all segments in the market while progressing through its 19th year of operations.

PRODUCTS & SERVICES:

With increased awareness people seek financial security, creating a natural demand for Takaful and insurance. Public Interest in Takaful ascend in recent years because of the consciousness on the benefits Takaful offer compared to its counterparts.

ATM has a repute for exceptional services – the internal mechanisms to improve services such claims process are reviewed periodically to uplift service standards. Conscious efforts are underway to increase accessibility to ATM’s products and services by amplifying its customer touchpoints and empaneled service providers.

AMÃNA TAKAFUL (MALDIVES) PLC

AMIN CONSTRUCTION PVT LTD +960 301 6422 projects@amin.mv www.amin.com.mv

Amin Construction

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

Abdulla Mohamed 1984 700 Construction

100% Local (Private Held)

Established in 1984, AMIN Construction bolsters more than 35 years of experience and considered as one of the pioneers of the Maldivian construction industry. Known for their competitive prices, quality products and timely delivery of projects, AMIN Construction is committed to provide services and technical expertise in all aspects of civil construction. They undertake a variety of projects for a wide range of clientele – from small private developments to large scale island developments for Government and Tourism Industry. Their unique and flexible project management systems ensure that best outcome is achieved regardless of size or nature of project. AMIN Construction is driven to continue the high levels of customer satisfaction that they have achieved over the past 35 years.

PRODUCTS & SERVICES:

Amin Construction Pvt Ltd has expanded their resources over the past years and provide the following services: • Building and Civil Construction

• Resort Construction • Value Engineering and Project Management • Building Products Wholesale and Retail • Carpentry and Metal Works

• Aluminum & Glazing Works • Heavy Machinery Rental and Logistics

• Dredging and Land Reclamation • Drafting and Quantity Surveying • Marine Cargo Transport • Bored Piling • Sheet Piling

ANGIRI RESORTS MANAGEMENT & OPERATIONS PVT LTD +960 331 3523 www.angiri.com info@angiri.com

Angiri Resorts Management & Operations

MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Mohamed Naeem 2000 370 Tourism Private Held

Established in the year 2001, Angiri Resorts Management holds a group of resorts operated in the Maldives. The company desires to create new hospitality ventures that are unique for our visitors and loyal travelers. Moreover, to create memorable stays for our beloved guests through excellent customer care and premium facilities, whilst progressing through the empowerment of our employees. Our aim is to be outstanding and unparalleled as a hospitality choice to guests across the world.The company sets out to offer unforgettable experience for our invaluable guests at the Angiri Resorts, and to delight them with exceptional service from our warm hearted employees. Additionally we intend to provide an environmentally conscious ambience and great hospitality from each aspect of our operations

PRODUCTS & SERVICES:

Angiri Resorts Management and Operations Pvt ltd has four resorts operated by a highly experienced management team. These four resorts are Angaga Island Resort & Spa located in South Ari Atoll, DreamlandThe Unique Sea & Lake Resort/Spa located in Baa Atol, Thulaagiri Island Resort & Spa located in North Male’ Atoll and Safari Island located in North Ari Atoll respectively.

ANTRAC HOLDING PVT LTD +960 331 0096 info@antracholding.com www.antracholding.com

Antrac Holding

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

SUBSIDIARIES

Mohamed Hameed Hassan

2003 150+ Other 100% Local (Private Held)

Well Land Investment Pvt Ltd

Expert Motor Services Pvt Ltd

Maldives Petroleum Link Pvt Ltd

Shine Home Properties Pvt Ltd

SEAL Maldives Pvt Ltd Muthaafushi Investment Ltd

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

PRODUCTS & SERVICES:

Challenge and deliver exceptional value and services and state of the art complete solutions with efficiency to all our clients and customers to take the business beyond the national borders, offering a wide array of products and services. 1. Marine services. 2. Freight forwarding services 3. Bunkering & Fuel Supply. 4. Logistics 5. Automobile 6. Yachts Chartering. 7. Resort Development. 8. Real Estate. 9. Rental Services 10. General Trading

APOLLO HOLDINGS PRIVATE LIMITED

+960 332 0065 info@apolloholdings.com.mv www.apolloholdings.com.mv

Apollo Holdings

CEO

/ MANAGING DIRECTOR

YEAR

STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Abdul Muhsin Hussain 1998 532 Wholesale and Retail trade

Private Held

Apollo Holdings Private Limited, established in 1998, is a company that provides a diverse range of products and services and has a 20-year track record of constant performance and professional integrity. With the flexibility to respond to changing client and market demands by adding diversity into our portfolio of services, including the import and trade of construction and hardware products, combining complete logistical services, and ready mix concrete and the real estate market. With a track record that speaks for itself, we as a team of specialist staff are determined and dedicated to meet and surpass the standards of our clientele. Among our most recent real estate ventures are 1000 housing project, the Apollo Towers that was completed in 2020.

PRODUCTS & SERVICES:

Proud to be among the top suppliers of construction material in the Maldives. our range of products include Cement, Sand and Aggregtes, Deform Bars, GI Pipes, MS Hollow Pipe, Nylon Ropes, Plastic Bags, PVC Pipes and Fittings, water tanks, Safety products, Paints, Hand tools, Sanitary ware, Tiles, Kitchen cabinets and General hardware. Our services include Stevedoring, Dhoni hire, Port Facility, Heavy Equipent Rental, Cargo Storage, Offshore logisitics and delivery, Landing craft hire and combined logisitic solutions.

ARENA PVT LTD +960 793 3231 samih@arenabeachmaldives.com arenabeachmaldives.com

Arena Hotels

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Ahmed Samih 2014 156 Tourist

Private

guesthouses

Held

Arena Private Limited is one of the leading hotel management companies in the Maldives, with three hotel properties successfully operating under its management and a fourth property due to open soon. From humble beginnings of running several small souvenir shops under the “Arena” banner in Kaafu atoll Maafushi prior to 2011, the family-owned company has within the span of a few years become one of the most successful and popular guesthouse operators in the island, earning accolades and awards from OTAs and local travel associations. Arena Pvt Ltd is now renowned as a full-service hotel management company that offers a wide spectrum of services in the tourism and hospitality business.

PRODUCTS & SERVICES:

Arena Pvt Ltd continued to expand, adding more services to its portfolio including a Logistics and Travel department to complement their transport service, an excursion and a water sports department to make the guests stay more exciting and enjoyable and an F&B section to handle kitchen and restaurant services that catered to all the dining needs of the guests staying in the properties

ASIA FORWARDING PVT LTD +960 334 3041 info@theasiaforwarding.com www.theasiaforwarding.com

Asia Forwarding

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

SUBSIDIARIES

Ahmed Ziyadh Mohamed

2005 32 Logistics Private Held

Asia Holding, Asia Shipping & Logistics, Asia Forwading Thailand, Afl Shipping LLC

VIC - Linka Logistics, Asia Group, Biz Asia, Southline Asia, Asia Estate

Known for outstanding quality & service in the corporate network in Maldives, Asia Forwarding is a highly reputable freight & shipping company in the country topping the list, with strong international recognitions at Quality Summit in New York, European Summit in Paris and GOLD 100 Business Awards in Maldives. With over 11,098 network member offices in 196 countries around the world, Asia Forwarding is positioned in an efficient global network, determined to expand its physical presence in key strategic locations, especially in Asia Pacific region, starting with our own branch offices in Thailand, UAE & China. Our capacity & resources assure us a leading position in the region with the promise of top-notch service. With this, and being a proud member of FIATA & the prestigious freight network WCAworld & other similar networks, we aim to be a role model in the industry.

PRODUCTS & SERVICES:

At Asia Forwarding we aim to provide outstanding services to our clients, with speed, convenience, and affordability, allowing flexibility in every possible way, to meet high levels of customer satisfaction. Our Services include:- Sea Freight Air Freight Customs Brokerage Warehousing & Distribution Project Cargo Handling Liner and Ship Agency Bunkering & Ship Chandelling Cruise Liner & Yacht Handling ACES Atoll Container Express Services Reefer Logistics to Resorts & Hotels

ATOLLMARKET PVT LTD +960 332 6297 info@atollmarket.com www.atollmarket.com

Atollmarket

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

Ahmed Hafeez 2003 17

Wholesale and retail trade

Private Ownership

Atollmarket Pvt. Ltd. established in 2003, dedicated to provide you a better tomorrow in the field of Office Automation. We have established strategic relationships directly with manufacturers and producers of office automated products to curtail unnecessary costs and to satisfactorily meet the high expectations of our well-understood customers and clients. Today we are the Sole Distributors and Authorized After Sales Service Provider for Xerox, HID and Safemark Systems. In addition, we are the Authorized Distributors for Topaz - Signature Pad, Crossmatch - Finger print capture, Contec-digital signage solutions, Onity card encoders/cards/locks/programmers, Axis - CCTV Camera, XIRRUS - WiFi Solutions, Ubiquiti- WiFi and Network Solutions, 3C LinkFiber Products and 3CX - Software Based IP PBX Solution.

PRODUCTS & SERVICES:

Our main products and services includes of managed printing solutions, card printers and accessories. We provide consultation in the field of Information Technology helping our customers choosing the most feasible solutions to cater their needs. Authorized Sole Distributor –Xerox, HID and Safemark Authorized Service Centre – Xerox, HID and Safemark Authorized Distributor – Topaz, Crossmatch, Contec, Onity, Axis, Xirrus, Ubiquiti, 3C-Link and 3CX

Avi Technologies Private Limited +960 330 1022 info@avitech.com.mv avitech.com.mv

Avi Technologies

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Hassan Yasir 2015 38 Technical services Private Held

Avi Technologies is the leading renewable energy turn-key solutions provider in the Maldives. Here in the Maldives – a country heavily impacted by fossil fuel emissions and climate change, we feel it is imperative to meet nation’s energy demand through clean, renewable, and sustainable energy sources. Our solutions are rapidly deployable, easily scalable, highly reliable and affordable to households and businesses. Through our strategic global partnerships, continuous innovation, technological excellence, flexible financing, and delivery models for our customers, we strive to spearhead a green revolution in the Maldives. Our name is inspired from the Dhivehi word for sunshine “Avi”, symbolizing the abundance of sunshine 365 days a year, and our pursuit to harness the sunshine to power Maldives.

PRODUCTS & SERVICES:

We help our customers to power their life with sunshine. Avi Technologies innovates relentlessly to deliver the most advanced solar energy related products and services to households, businesses, hotels, utilities, marine and agricultural industries, including financing options and progressive sustainability practices. Our products are designed to harvest maximum solar energy and minimize electricity bills up to 100%, reducing diesel consumption and carbon emission. All our products can be easily financed from BML, MFLC, MIB, POLCO or through our own financing schemes.

AVIA MALDIVES PVT LTD +960 778 6419 commercial@aviamaldives.com www.aviamaldives.com

AVIA Maldives

CEO / MANAGING

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP SUBSIDIARIES

DIRECTOR

Fathimath Zayin

2011 23 Aviation Private Held Avia Maldives Holidays

Avia Maldives has been in operation since August 2011 and is hailed as one of the best in the industry. With physical presence at Velana International, Gan International and Maafaru International Airport we offer wide range of services from VIP ground handling arrangement, local permits, Physical supervision of aircraft, inflight catering, special rate hotel accommodation options and other travel and tour related services. We continue to provide definitive services, filling the gap for experienced, world class handling in the Maldivian Aviation Market. On the travelling side we provide quality and personalized services to the need and requirements of the traveler. Our company combines the latest technology, equipment, expert staff and confident hands-on management style to deliver practical and high-quality services.

PRODUCTS & SERVICES:

We provide supervisory agent services, physical presence (based) in Velana International, Gan International and Maafaru International Airport; services at any domestic airport on request. Getting required permission (landing, overfly, block permits) for aircrafts in Maldives flight information region (FIR). Hotel/Resorts accommodation services along with dedicated private transfers, VIP catering directly via the caterer, VIP meet and greet services and private security. In addition airline check-in and supervision services as an added component.

BANK OF MALDIVES PLC +960 333 0200 customerservice@bml.com.mv www.bankofmaldives.com.mv

Bank of Maldives

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Karl Stumke

1982 3000 Financial and Insurance Public Ownership

Bank of Maldives is the leading financial institution in Maldives. We are a full-service bank engaging across the complete spectrum of personal, SME and corporate and Shari’ah compliant financial services. With over 300,000 customers, we are privileged to touch the lives of almost every citizen and business in Maldives through our extensive network of branches, agents, relationship managers and online banking facilities. We have lent over MVR 3.3 billion in loans last year to support the local economy. Our aim is to be a partner for success for our customers, to actively participate in community development and to create long-term value for our shareholders.

PRODUCTS & SERVICES:

Services for personal customers include Accounts, Personal Loans & Housing Loans, Credit, Debit & Prepaid card services. Other services are provided through a nationwide network of 35 branches, 140 ATMs, over 8,000 Point-of-Sale merchants, 200+ cash agents, and 82 Self- Service Banking Centres. Services for businesses include Accounts, Loans, Card Acquiring, Trade Services, Treasury Solutions, Payment Gateway, and E-Banking Solutions such as online banking, digital POS etc. BML provides Relationship Management and advisory service and offers one-stop solutions for business customers.

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

Bison Maldives

CHAIRMAN / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

SUBSIDIARIES

Abdul Majeed 2002 800 Construction

100% Local (Privately Held)

Bison Trading Pvt Ltd.

Bison Travel Maldives Pvt Ltd.

Bison International Pvt Ltd.

Bison Food Supplies Pvt Ltd.

Mazzo Pvt Ltd.

Authorised agent and Distributor of Melwa Steel

A company that started out in the construction business with its inception in 2002, Bison Maldives has expanded its operations from construction to aluminum & glass fabrication, retail fashion, to travel & hotel operations. We believe that Bison Maldives has the knowledge and expertise in the industry to be recognized as a leader. We do not waiver from our risky decisions to venture into areas we have not yet explored. Industry-wise, Bison Maldives has achieved a remarkable feat within the past few years itself, and we believe that our achievements, along with our work ethics and company strategy have put us in a position worthy of being recognized for our excellence in the industry.

PRODUCTS & SERVICES:

Bison as a group of companies are engaged in the following business ventures as well:

Bison Aluminum and Glass- Fabricating Aluminum and Glass Windows and Doors and other Aluminum work. Reveries Diving Village and Spa in Laamu Atoll (Boutique hotel). Hameedia Men’s Clothing-(Franchise agreement). Lh, Ookolhufinolhu, Uthurumafaaru holdings and Joy Island Pvt Ltd -Management companies of Cocoon collection) . Bison Travel Maldives , Bison Food supplies Pvt Ltd , Mazzo Pvt Ltd. Authorised agent and distributor of Melwa steel in the Maldives.

CAPITAL TRAVEL AND TOURS PVT LTD +960 331 5089 info@capitaltravel.com www.capitaltravel.com

Capital Travel and Tours

DIRECTOR / CEO

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Yoosuf Riffath 1990 42 Travel Agent Private Held

Capital Travel & Tours was formed as a limited liability company in the Maldives in 1990 specializing in inbound and outbound travel management. Today, it is one of the most prominent and leading tour operators in the country with a wide global network of tour operators and clientele. As a tour operator, Capital Travel is able to provide clientele with resourceful choices and best prices in the market due to its long-standing business relations with resorts and hotels, built over the past 32 years. Today, Capital Travel has well over 500 partners around the world and is classed as one of the largest and most reliable tour operators in the Maldives

PRODUCTS & SERVICES:

With more than 50 well trained and experienced staff with full commitment to customer satisfaction, we attend to every need of our clients and partners diligently and efficiently. Capital Travel has an extensive presence online with own website and through the various social media platforms we are able to offer attractive deals and special offers to our customers in real time. We assist with holiday plans and business trips to Maldives with a wide range of special offers and discounts.

CEYLINCO INSURANCE COMPANY

PVT LTD +960 969 3939 info@ceylincoinsurance.com.mv www.ceylincoinsuranceplc.com

Ceylinco Insurance Company

EXECUTIVE CHAIRMAN

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

Patrick Alwis

2005 30

Financial and Insurance Private Held

Ceylinco Insurance Co. Pvt Ltd was incorporated on 17th April 2005. We are a subsidiary of Ceylinco Insurance Plc., Sri Lanka, a diversified Bluechip conglomerate with a proud history dating back to 1939. Ceylinco was the first ever company to be registered under Companies Ordinance Act of Sri Lanka, and one of the largest business entities of South Asia with an annual income over USD 275 Million. The company has paid claims above USD 100 Million in 2021. Ceylinco is an associate company of MS&AD Insurance Group Holdings Inc. of Japan; a Fortune Global 500 Company with an annual turnover of USD 50 Billion. The company has been a pioneer and trendsetter in the local insurance industry.

PRODUCTS & SERVICES:

The company’s area of operation is underwriting all classes of General Insurance segment, including but not limited to Property Insurance, Health Insurance, Liability Insurance, Engineering Insurance, Motor Insurance and Marine Insurance. The company also provides coverage on specialty classes providing personalized products such as aviation, cyber, terrorism, pollution and trade credit risks. We are also currently working on development of various innovative micro Insurance products to the emerging markets.

CITY INVESTMENTS PVT LTD

+960 797 2868 info@city.com.mv www.city.com.mv

City Investments

MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

SUBSIDIARIES

Abdul Latheef

2005 220 Food service activities

100% Local (Private Held)

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

Founded in 2002, City Investments Pvt Ltd came into being from a passion that originated from a shared vision among the founders, in transforming the way we dine and socialize in Male’. We discovered that services and products in Male’ were not keeping up with the pace of changing and growing demands of the people. We wanted to provide the capital Male’ and its people the “City Life” they truly deserved.

At the heart of our business is the “City Bakery”, providing diverse range of breads and baked goods to the whole of Maldives. City Bakery pioneered the bread, to the modern discerning customers, who required diversity, nutrition and mostly freshly made high quality products.

PRODUCTS & SERVICES:

We are the sole importer and distributor of Bakels bakery pre-mixes, Rosselmehl and Prima wheat flour, Victoria yeast, Monita margarine, Master Martini cooking chocolates and creams, PreGel ingredients for gelatos and beverages, Pavoni bakery utensils, Darbo preserves and honey, Fentimans botanically-brewed drinks, Compal juices, Dolomia Spring water, Trucillo coffee, Cafes Richard teas and coffee, Manna sauces, WILDALP natural spring water and Veen water. We also import and install Mastro kitchen equipment and Hagleitner equipment, with after sales services.

CO-LOAD (MALDIVES) PVT LTD +960 332 0450 admin@coload.com.mv www.coload.com.mv

Co-Load (Maldives)

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

SUBSIDIARIES

Abbas Mohamed 1986 79

Wholesale and Retail Trade

Private Held

Ace Hardware & Home Centre Color Bank

Co-Load Developments

Maldives Business School

Co-Load International Freight Pvt. Ltd.

Co-Load Maldives was founded in the year 1986 by Mr. Abbas Mohamed, who now serves as the Managing Director. The Company’s trade division, consisting of Color Bank and Ace Hardware Maldives, offers internationally acclaimed brands in its product portfolio. Color Bank is the sole and authorized distributor of prestigious paint brands such as Crown, AkzoNobel, Jotun, and Sikkens, which are retailed from its 3 outlets. In 2011, Co-Load opened the first Ace Hardware outlet in the Maldives, the first in the SAARC region. The 2nd outlet was opened in 2013 followed by the third and flagship Ace Hardware outlet – Ace Home Centre in 2022. Ace Hardware, the international home improvement franchise, has over 5,300 stores in 70+ countries.

PRODUCTS & SERVICES:

Co-Load Maldives offers a wide range of product lines including housewares, gifts, paints & sundries (decorative, automotive, marine, woodcare, aerospace, and specialty paints), home appliances, commercial and household cleaning products, power tools and hand tools, hardware, gardening & lawn supplies, electrical supplies, toys, stationery and office equipment, candy, and foodstuffs in addition to others. The Company, also through its subsidiary Co-Load Development provides real-estate development services and through Maldives Business School provides education from Foundation to Masters levels.

COPIER PLUS (PVT) LTD. +960 331 2121 copierplus@gmail.com www.copierplus.com.mv

Copier Plus

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Hassan Muneer

2004 20

Wholesale and retail trade 100% Local (Private Held)

Copier Plus Pvt. Ltd is a total solution provider for copier/printing/ copying/embroidery machines/sewing machines related services and products for businesses in Maldives. . It is a Male` based business. Under the Partnership ownership of Mr. Hassan Muneer and Miss Athifa Mohamed. In 2004 January 27th as Copier Plus Pvt. Ltd as registered. Since we have gained the following number of clients throughout the period from the following categories: Government offices: 700, private sector: 3,900, resorts: 50 and individuals: 1,441. Our aim is to focus on customer loyalty and ensure that we provide the best and fast solutions that are suitable for our clients. And the Authorized Distributor for Toshiba & Brother for the Maldives.

PRODUCTS & SERVICES:

Copier Plus Pvt. Ltd provides custom solutions for business needs. We service customers that are looking for a one-stop solution for all of their printing/copying/facsimile/copying and facsimile needs. And provide an overall cost savings through our “value-add” strategy of job specific solution sales. On focusing the needs of the customer, the time frame for the project and the overall scope of work. Copier plus Pvt ltd can accommodate any job size with solutions tailored to the specific need.

Cowrie Investments Private Limited +960 331 5238 suresh@aitkenspence.lk www.heritancehotels.com

Cowrie Investments

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Susith Jayawickrema 1997 787 Tourist resorts Private Held

Aitken Spence Hotels Maldives is a resort operator in the Republic of Maldives, started operations in August 1993 and today operates 2 Brands namely Heritance and Adaaran, 7 Resorts with 729 rooms. They are; • Heritance Aarah • Adaaran Select • Meedhupparu & Adaaran Prestige Water Villas – Raa Atoll • Adaaran Club Rannalhi – South Male Atoll • Adaaran Prestige Vadoo – South Male Atoll • Adaaran Select Hudhuranfushi & Adaaran Prestige Ocean Villas – North Male Atoll

PRODUCTS & SERVICES:

Heritance Aarah is woven into the tropical tapestry of the Maldives’ perpetual paradise, drawing inspiration from the heritage and essence of its culture. Every experience at the resort is curated to captivate and reflect the serene uniqueness of the Maldives; Nestled on an island in the Raa Atoll, just a 153 km seaplane ride from the Male International Airport, the resort houses 150 villas and 11 restaurants and bars part of the resort’s incredible dine around offering. Created by Culinary Olympic winners, the resort’s dining is culinary journey of epic proportions. The resort also presents a host of over and underwater activities, along with the first Medi Spa for ultimate wellness and relaxation.

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

Crown & Champa Resorts

MANAGING DIRECTOR

YEAR

STARTED EMPLOYMENT INDUSTRY OWNERSHIP

SUBSIDIARIES

Sarah Moosa 2000 2800

Tourist Resorts Private Held

Champa Brothers, Champa Resorts, Champalars Holdings, Crown Company, Kagi Development, Kasa Holdings, Komandoo Holdings, Kuredu Holdings, MFLC Maldives, Tree Top Investments, Tree Top Health, Koveli Travel Duniye Spas, Manta Maldives, Trans Maldivian Airways, Voyages Maldives, Cosmopolitan, Euro Divers, ProDivers, Global, Seagull

Discover an ocean of getaway possibilities in the Maldives with the Crown & Champa Resorts’ collection. With more than 40 years of experience creating memorable holiday experiences we are in a unique position to make your dream holiday come true. Each resort targets a unique traveller with the aim of offering great quality, value and experiences in different segments. Our individually crafted resorts reflect their surroundings and heritage, creating getaways filled with authentic beauty and allure. Whether you enjoy adventures filled with water sports and scuba diving, undersea dining, playing island golf, sultry beach parties or relaxing at the spa and whiling away their days on the beach amidst swaying palm trees.

PRODUCTS & SERVICES:

Discover the natural beauty of the Maldives with Crown & Champa Resorts diverse collection of resorts. The properties in the CCR collection have something for everyone. Currently the following award winning resorts are under the CCR collection: Kudadoo Maldives Private Island, Hurawalhi Maldives Island, Kagi Maldives Spa Island, Veligandu Island Resort & Spa, Meeru Island Resort & Spa, Kuredu Island Resort & Spa, Vilamendhoo Island Resort & Spa, Innahura Maldives Resort & Spa, Komandoo Island Resort & Spa.

D BLUE PVT LTD +960 330 3667 info@dblue.com.mv www.dblue.com.mv

D Blue

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP SUBSIDIARIES

Mohamed Haleem

2003 36

Marine Equipment & Services

Private Held Marine vibe Pvt Ltd Lizzy

D Blue Marine is a prime Marine Equipment, Engineering and Technical Service Provider in the Maldives. It has transformed into a recognised partner for an extensive clientele. Here we apprehend and get a clear picture of the needs and demands of our customers, fulfilling their expectations by providing the best services, resulting in long standing relationships and a rapid local exposure. We take pride to abide by our company’s policy of high customer satisfaction with delivering the best quality. In addition, an equal focus on environment, health, safety and security is also observed and been taken care of. The company currently offers its products and services to local clients, and plans to expand soon.

PRODUCTS & SERVICES:

One of the leading marine equipment seller in Maldives. We provide different kind of marine equipment, engine spare, boat care products and fishing gear. We make sure our customers get fully satisfied service’s and after sales services. We carry on door to door delivery services within male’ city. As we bring cutting edge technology to the new waters of Maldives with Honda Marine we ensure that our customers get fully satisfied services.

DAMAS COMPANY PVT LTD

+960 333 300 info@damas.com.mv www.damas.com.mv

Damas Company

CEO/

MANAGING DIRECTOR YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Abdulla Salih 2001 150 Wholesale and retail trade

Private Ownership SUBSIDIARIES

Damas Real Estate Pvt Ltd

Damas is one of the most reputed business groups in the Maldives trusted by businesses and the public as well. With its core businesses in general trading, tourism, realestate and construction, and medical services. Damas is committed to serving the public at large by providing access to products and services. Damas continues to contribute to the success of business in the most important industries and enrich the lives of the Maldivian people through continuous evolution and growth. Damas continues to create new and innovative businesses in a range of areas that directly support industry and important economic sectors. at the same time through a strategic plan for expansion of its business, the company has diversified into real estate and medical services.

PRODUCTS & SERVICES:

GENERAL TRADING - Hardware and Construction Materials - Resort Equipment Supplies - Furniture (Office and Household) REALESTATE DEVELOPMENT - The company was incorporated exclusively to engage in real estate undertakings with a major focus on real estate property management, development, leasing, buying, as well as selling. TOURISM AND HOSPITALITY - Hospitality and Tourism have been a significant part of Damas company for more than three decades. MEDICAL SERVICES -

DHIVEHI RAAJJEYGE

Dhivehi Raajjeyge Gulhun

CEO / MANAGING DIRECTOR

YEAR STARTED

EMPLOYMENT INDUSTRY OWNERSHIP

Ismail Rasheed

1988 582

Telecommunications

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

GULHUN

PUBLIC LIMITED COMPANY +960 332 2802 info@dhiraagu.com.mv www.dhiraagu.com.mv

As the leading telecommunication and digital service provider in the Maldives, Dhiraagu inspires and empowers their customers to ‘take on tomorrow’ and thrive in the digital future. They are the pioneers that ushered the country into the digital age and continues to lead the field by placing premium value on customer experience and, through consistent innovation. With over 500,000 customers and employing 99% Maldivians present across 9 strategically located regional operating centres across the country, Dhiraagu remains as the largest telecommunications an digital service provider in the Maldives.

PRODUCTS & SERVICES:

Dhiraagu extends full coverage across the country by ensuring reliable connectivity whilst maintaining network resiliency. A comprehensive range of mobile, internet, data, IPTV, mobile money and fixed services are offered to their customers. Dhiraagu provides tailormade solutions for small and medium enterprises and fully integrated enterprise solutions for corporate and government customers. Their ICT infrastructure and managed solutions are designed to enable customer to access, communicate and store information securely to better serve the community.

DIETHELM TRAVEL THE MALDIVES +960 799 1105 howard.b@mv.diethelmtravel.com www.diethelmtravel.com

Diethelm Travel the Maldives

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

Suranjith De Fonseka

2008 27 Travel agent Private Held

Diethelm Travel is an award-winning inbound tour operator responsible for over 100,000 guests that visit the Maldives each year. A subsidiary of the Cyprea Group, Diethelm Maldives is managed by the Diethelm Travel Group together with the Acorn Group. With two offices and three airport counters, we are fully conversant with the way things work in the archipelago. Our Key Strengths are • A multicultural team of over 30 professionals. • Extensive local expertise. • Cutting-edge technology. • Experience-led and innovative range of services, geared to manage the peculiarities of the destination.• Customized travel solutions • Professional service, friendly staff, flawless tour execution, and hasslefree collaboration

PRODUCTS & SERVICES:

Products and services, • Access to preferential rates with over 60 resorts and hotels from around the Maldives. • Access to the most reliable liveaboards / Safari Cruise boats in the destination. • Fully compatible with the latest technology offering complete connectivity and a sizeable bed bank. • An end-to-end solution that ensures that our guests are looked after and we are on hand for any emergency. • 13 fully licensed and fully insured offices, a network across Asia.

DONAD INVESTMENTS PVT LTD +960 333 6096 info@metalsigns.com.mv www.metalsigns.com.mv

Donad Investments

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

SUBSIDIARIES

OWNERSHIP

YAMEEN ADAM 2000 90

SIgnage & Advertising Private Held

Adam & Co Donad Garment Industries

DONAD INVESTMENTS PVT LTD was established in 2000, with the aim of bringing latest technology and building local professionals in the signage industry in the Maldives. The company’s own trademark METALSIGNS is a top local brand that shaped the Maldivian signage industry, while offering many other customized products such as trophies & awards, corporate gifts, embroidery, printing, engraving and apparels. With a mission “to lead the signage industry in the Maldives by creating a lasting impression with innovation and latest technology” the company has invested in cutting-edge machinery and economic means bringing a rapid change in efficiency. The production house offers high-quality signage materials, more readily available than ever before to cater to ever-changing customer demands competently.

PRODUCTS & SERVICES:

The production house offers a one-stop signage solution for all types of signage. The largest supplier of trophies & awards in the country from leading global brands in Europe such as CHARLY SPORTS, SARTOR, EUROPA TROPHIES, CARBISA. A major supplier of apparels: uniforms, t-shirts with custom embroidery & printing, school activity uniforms, sports jerseys, scrubs, industrial uniforms and accessories such as safety wear to traditional wear. Other services: framing, large format printing, self-ink stamps & seals, corporate gifts and souvenirs.

dTECh COMPANY PVT LTD +960 333 4051 info@dtech.com.mv www.dtech.com.mv

dTECh Company

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

SUBSIDIARIES

OWNERSHIP

Maseeh Imad 1998 70

Marine equipment & services

MSTS Pvt Ltd Dtech Services Pvt Ltd

Private Ownership

dTECh is the leading company providing solutions to power generation requirements to all sectors in the Maldives. The company has evolved, diversifying how it serves its clients through providing all types of innovative engineering and watersports equipment that comprises a wide segment in the expanding marine transportation and tourism industry in the Maldives.

We proudly serve a diverse customer base, from the everyday consumer to large corporate customers, as we continue to work to enrich the lives of our clients in line with our vision through evolution, innovation, and growth by satisfying the needs of the marine & automobile engineering, in addition to watersports industry offering a comprehensive range of products and services.

PRODUCTS & SERVICES:

We are committed to give our customers a comprehensive range of world-class products and commendable services, from the initial inquiry, confirmation of order, flexible payment schemes, logistical support up to the point of delivery and after sales services as authorized distributor of world-reowned brands such as Seadoo, Deutz, Sea bob, Tohatsu and Danalube lubricants

Ensis Fisheries

CEO/ MANAGING DIRECTOR

Abdul Wahid Thowfeeq

ENSIS FISHERIES PVT LTD +960 335 6677 info@ensisgroup.com www.ensisgroup.com

YEAR

STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

SUBSIDIARIES

2002 750+ Food Service Activities

Private Held

Dhivehi Insurance Company

Dhivehi Investment Partners

Nirutha Exem Fisheries Malfish Dreamscape Wams Aspire

Ensis is the largest seafood exporter from Maldives, currently holding over 50% export market share to the EU, with retail customers including large international supermarket chains and restaurants. Founded in 2002, we come from the artisanal fishery communities of Maldives promoting 100% sustainability imbued with the traditional one-by-one pole-and-line fisheries, passed on to us by our forefathers. Our products include MSC-certified frozen, fresh and canned Skipjack Tuna, Yellowfin Tuna, and more. We are FOS Wild, CoC certified and our fish processing plant is the first BRC AA rated in the Maldives. We are also ISO 22000 and EMS certified, with a state-of-the-art cannery in Hulhumale’. You can reach us through our offices in Maldives, Frankfurt, Colombo & NY.

PRODUCTS & SERVICES:

With the largest fisheries product base in the Maldives, ENSIS has a diversified export-ready product range of seafood, covering fresh, frozen, canned, and pouched segments, including Handline caught Yellowfin Tuna, and Pole & Line caught MSC certified Skipjack Tuna. We produce premium quality fish, from Sashimi grade Saku Blocks to Tuna Loins and Chunks, Tuna Steaks, Whole Round H&G Tuna, as well as value-added products from Canned and Pouched MSC Tuna, to authentic Maldivian Rihaakuru and more - all sourced, processed and packed directly in the Maldives.

EVENT MALDIVES PVT. LTD +960 778 1702 events@eventmaldives.com.mv eventmaldives.com.mv

Event Maldives

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

Ahmed Midhath

2011 20 Event

industry

Private Ownership

Event Maldives Pvt Ltd is one of the topmost event management companies in the country today. Launched in 2011, to cater to the glamorous and upscale tourist industry, Event Maldives is the trusted partner for private celebrations, government, and corporate business event management in the Maldives. The company’s main asset is the young and expert team of energetic professionals with extensive experience in event entertainment. As a full-service event and venue management company, our services include complete planning, management, sourcing and delivering of events. The expertise and confidence gained from exposure to mega-events, Event Maldives has the skill to manage however big or intimate the event is.

PRODUCTS & SERVICES:

With vision and enthusiasm together with the company’s vast experience in the entertainment world, Event Maldives has organized and perfected a variety of services to enable to handle every aspect of event management. From concepts, material sourcing, planning to brand launching, meetings, conferences, exhibitions, award functions and high profile celebrations to destination weddings, customized theme décor to discos and live concerts.

EyeCare Pvt Ltd +960 332 1026 info@eyecare.com.mv eyecare.mv

EyeCare

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

SUBSIDIARIES

Island Sea Transport Pvt Ltd Fiyavalhu Maldives

Dr Abdullah Zahir 2002 2238 Other Private Ownership

Eyecare was established in 2003 with a small team of optometrists and a single doctor. Today, with over 19 years of experience, Eyecare operates 7 optical showrooms and clinics and has become one of themost trusted and reliable health care providers in the Maldives. EyeCare provides a one-stop eye care solution with optical, pharmaceutical, diagnostic, clinical, and surgical services under the same umbrella.

In 2014 EyeCare opened its first specialist Eye Hospital in the Maldives under the brand EyeCare Hospital. Today the company along with its subsidiary companies have diversified into other business areas such as real estate developments, safari vessels, and the opening of Fiyavalhu Maldives, the first resort on a local island.

PRODUCTS & SERVICES:

Eyecare offers a one-stop solution with optical services, diagnostic, clinical and specialist ophthalmic surgeries and the retail of affordable and branded frames and sunglasses that are easily accessible through our E-commerce platform. Eyecare is also involved in the real estate developments, leasing of safari vessel for cruise and diving, and operating Fiyavalhu Maldives Resort on a local island. In addition to this, EyeCare has an annual plan to expand and add new Regional Clinics with Retail under its healthcare sector.

+960 333 3773 construction@fedo.mv www.fedo.mv

Fedo

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Ahmed Fayaz 2011 250 Construction Private Ownership

Fedo Pvt Ltd is a leading company that was initially started by involved in many premium construction projects in the Maldives. Since its inception, it has been committed to exceeding customer expectations through delivering the ultimate value customers expect in the construction business, which has resulted in gaining trust in the Maldivian community. Fedo’s commitment to sustain and enhance trust has enabled it to realize many successful outcomes including maintaining healthy annual growth in revenue and being a financially strong company with clear records in Government authorities. Fedo is now a holding company that manages multiple portfolio including investments in construction, real estate, food and beverage, hospitality and tourism and distributorships for international brands.

PRODUCTS & SERVICES:

The construction services offered by Fedo include scheduling, as-built documentation, value engineering, remodeling, quality controlling, conceptual budgeting and feasibility studies, resultant risk minimization. Fedo is also currently developing a large-scale hotel project offering premium villas and a host of dining options, a leisure complex focusing on transformative dining and myriad of leisure activities, and a premium restaurant brand offering the finest delicacies. Fedo is also the official dealer for Orbita and TIS branded products and services in the Maldives.

FOCUS INFOCOM PVT LTD +960 332 3355 marketing@rol.mv www.rol.mv

Focus Infocom

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Abdul Mueed 2003 67 Telecommunications Private Ownership

Raajje’ Online (ROL), was incorporated under Focus Infocom Pvt. Ltd on 20th February 2003 and has established itself as a leading Internet Service Provider in the country since. Initially providing internet services through radio technology, ROL remains a company receptive to technological advancements, achieving prestigious milestones along the way. Currently ROL provides multiple services via its own state of the art fiber network With a vision towards connecting the whole nation and eliminating geographical barriers through wireless and wired technology, Since its incorporation ROL remains a 100% locally owned, proud Maldivian brand.With a vision towards connecting the whole nation and eliminating geographical barriers through wireless and wired technology, ROL continues to expand its network to cover more atolls and islands

PRODUCTS & SERVICES:

Broadband internet access to homes, businesses, resorts and other population centers via fiber Network and Point to point wireless technology.Complete solutions for telecom needs, email & web hosting solutions, access to web-based online business applications, ftp services, Virtual Private server and virtual private network services, video conferencing, network security and other value added services, content based applications, WiFi Solutions for remote islands, P2P Fiber Connectivity, Audio/Video Streaming Services, Electronic Learning Management Services, Voice over Internet protocol and other Enterprise

FUEL SUPPLIES MALDIVES PVT LTD +960 333 6655 marketing@fsm.mv www.fuelmaldives.com

Fuel Supplies Maldives

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT

INDUSTRY

OWNERSHIP

Mohamed Gasam 2000 480 Fuel Logistics

State Trading Organisation Plc

Fuel Supplies Maldives Pvt Ltd, established in December 2000 is a subsidiary of State Trading Organization PLC (STO), formed with the main objective of streamlining fuel distribution in the country and to offer easy and convenient access to fuel related services and products throughout the country. The main purpose of FSM is to provide fuel related services including sales, distribution, and maintenance of storage facilities across the country. Since the beginning, we have been continuously improving the services and the efficiency by implementing the latest technologies, best practices and working vigorously to improve the capacity of the company, meeting the challenges and the ever-growing expectations of our customers.

PRODUCTS & SERVICES:

Although the delivery of fuel may be seen as a standard procedure common to all, we see the need to provide tailor-made services that meet the unique requirement of our customers in different economic sectors. Our product & services include; • Fuel Related Equipment & Accessories • Supplying Fuel for Industrial & Commercial Clients and Islands • Domestic Fuel Bunkering Services • International Fuel Bunkering Services • Fuel Stations & Retail Services • Maritime services

GAGE PVT LTD +960 330 4055 info@gage.com.mv www.gage.com.mv

Gage

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

Abdulla Riyaz 2010 500+ Security & Safety Private Ownership

GAGE was established on July 21, 2010, by Mr. Abdulla Riyaz, the former commissioner of police, who serves as its chairman. GAGE was established with the goal of offering corporate enterprises in the Maldives client protection services. GAGE, the leading provider of client protection services in the Maldives, primarily collaborates with the tourism sector. Since October 2020, GAGE and The Soufan Group (USA) have been collaborating. TSG is a worldwide intelligence and security firm that assists clients in the public and private sectors in improving their capacity to identify, analyze, and mitigate high-risk situations.

GAGE achieved certification for the ISO 9001 Quality Management standard in 2022, making it the first client protection service provider in the Maldives to do so.

PRODUCTS & SERVICES:

Security guarding, perimeter security, radar systems, CCTV & alarm systems, access control, screening, public address systems, and tracking systems are more examples of the services offered by GAGE. Also, Fire systems, rectification, and after-sale services are all a part of the fire safety services. GAGE launched an operation center, allowing the firm to remotely monitor several locations across the Maldives. GAGE Training Institute, affiliated with the National Safety Council (NSC, USA), offers first aid, lifeguard, security fundamentals, and fire safety training.

HANDY HOLDINGS PVT LTD +960 331 0812 info@handyholdings.com www.handyholdings.com

Handy

CEO / MANAGING DIRECTOR YEAR STARTED EMPLOYMENT INDUSTRY SUBSIDIARIES

OWNERSHIP

Private Held (100% Local)

Hassan Haleem 1993 60+ Other Handy Holdings Pvt Ltd, Handy Trading Pvt Ltd, Handy Industries Pvt Ltd, Hassan Haleem (sole proprietorship) Handy Cold Storage Facilities LLP Handy Investments Pvt Ltd

Handy Holdings is a well-established group of companies, providing innovative solutions to various sectors in the Maldives: Retail, Rentals, Manufacturing, Real Estate, Logistics solutions, and Travel and Tourism. Mr. Hassan Haleem, Founder, and Chairman of Handy take great pride in sharing the brand story of Handy. “A journey through innovation” Since embarking on this journey, the contributions of the crew and passengers have been the invaluable secret and drive behind our success. We have been fortunate enough to enjoy an unprecedented level of success in the Maldives, and have managed to stay one step ahead of our competition. Join us as we continue to learn, grow, and sail into the future

PRODUCTS & SERVICES:

Handy Holdings provides a wide variety of products and services under its umbrella. Through its subsidiaries, it provides some valuable services in areas such as tourism and hospitality, beverages, logistic solutions, manufacturing, leasing, real estate, hardware-build ware, and warehousing.

Some notable assets under its management include a 14-room safari vessel, 45-seat floating restaurant boat, drinking water bottling plant, 700-ton cold-storage warehouse, paper products manufacturing facility, hardware shop, auto service center, a 10-story residential building, service center, landing craft, and earth-moving vehicles.

HAPPY MARKET TRADING COMPANY PVT LTD +960 331 3523 info@happymarket.com.mv www.happymarket.com.mv

Happy Market

MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

1992 159

Wholesale and Retail Trade

100% Local (Private Held)

Happy Market is a premium food and beverage importer & distributor operating in the Maldives. Established in 1992, the main priority of the business is to provide a wider range of healthier & premium quality products to the public. The dedication towards providing indisputable food solutions enabled the company to achieve exclusive distributorship for several world renowned F&B brands to the Maldives. Our products are stored and well managed by our team in accordance to the guidelines and standard of HACCP. Happy Market is dedicated to enhancing all aspects of Maldives via socio-economic programs, and to focus on environmental stewardship activities for a healthier society while committing to build the shareholders’ value by being a truly sustainable organization.

PRODUCTS & SERVICES:

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

Mohamed Naeem

HASSAN MARINE ENGINEERING SOLUTIONS PVT LTD +960 751 3218 sales@hassanmarine.com www.hassanmarine.com

Hassan Marine Engineering Solutions

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Hassan Haleem

2014 40

Marine equipment & services Private Owned

Hassan Marine was established in 1999 as a service center specializing in repair and maintenance of outboard engines. Twenty-three years since, while Hassan Marine has earned a reputation as a trusted distributor of world-renowned products, repair and maintenance remain a strong component of the company’s services. The company has grown and expanded at record speeds under the guidance of its visionary proprietor, Hassan Haleem, who plays an active role in leading the company to date. Hassan, who holds a deep passion for marine engineering, also possesses over twenty-five years of experience working in the field. Hassan Marine operates two sales outlets and service center dedicated to Mercury Marine outboard engines.

PRODUCTS & SERVICES:

In addition to being the authorized sales and service distributor for Mercury Marine products in the Maldives, Hassan Marine. also acts as official distributor for a wide range of products from Quicksilver Marine, Multiflex, NGK, Thordon, Attwood, Aqua Marina and other marine industry related brands. Mercury Marine provides a huge range of solution for Maldivian propulsion need catering from 5hp - 350hp outboard. Additionally Mercury Diesel and Mercruiser lineup is also available for inboards.

HORIZON FISHERIES PVT LTD +960 332 8855 sales@horizonfisheries.com www.horizonfisheries.com

Horizon Fisheries

CEO / MANAGING

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

DIRECTOR

Mohamed Yaqzan Qasim 2003 580 Other Private Owned

Horizon Fisheries started its operation on 16th September 2003 at Maandhoo Fisheries Complex (MFC) located in Laamu atoll. MFC is world class canned tuna processing factory capable of processing 80MT of raw materials per day. Other projects in the site includes a 15MT chilled, super frozen tuna loins plant, 10MT traditional smoked tuna unit and 50MT fish meal plant. At MFC we have a cold storage capacity of 5000MT including our fleets and floating cold storage. We have been exporting highest quality Maldives tuna caught by pole and line as a premium product to Europe’s most reputed brands for over 12 years. We also do export in our own brand “Maandhoo Mas” and we do wholesale and retail of this brand in the Maldives.

PRODUCTS & SERVICES:

Canned Tuna; (Chunks in Oil – 185g, 100g, Chunks in Brine – 185g, 100g. Tuna in Habanero Chili, Chunks in Olive Oil, Tuna in Dried Chili, Tuna in Thyme, Tuna in Tomato, Tuna in Garlic, Tuna in Cracked Pepper, Mashuni 185g); Tuna Pouch (Pouch in Oil, Pouch in Brine), Cooked Loins; Whole frozen loins; Smoked tuna; Fishmeal: and other by-product.

HOUSING DEVELOPMENT CORPORATION LIMITED +960 335 3535 mail@hdc.com.mv www.hdc.com.mv

Housing Development Corporation

CEO/ Managing Director

Year Started Employment Industry

Ownership

Ahmed Athif 2001 1200+ Real Estate

100% Government

Twenty-one years ago, Housing Development Corporation (HDC) was founded to lead a national mega development plan of Hulhumalé - an Island emerging as Maldives’ first smart and sustainable city. In the year 2020, the Corporation rose in prominence with a merger occurrence of two industrial islands in the Greater Malé region, Gulhifalhu & Thilafushi. A diverse range of developments form the Hulhumalé masterplan – residential, commercial, tourism, industrial, institutional, and recreational, making it the leading urban development company of the country. Housing Development Corporation plays a strategic role in the development of Maldives, while inspiring and sharing the knowledge of urban development across other regions of Maldives.

PRODUCTS & SERVICES:

Inspired from the most smart and liveable cities in the world, HDC presents a variety of products including community-based developments, public infrastructure, office spaces, to residential housing projects. HDC has planned smart city solutions with a wide array of smart products and services targeted for various sectors. Services provided range from municipal, development and management of properties to hospitality solutions. Today, HDC’s services extend beyond the reclaimed islands, sharing its knowledge and expertise across the regions of Maldives.

HOUSING DEVELOPMENT FINANCE CORPORATION PLC +960 333 4666 +960 333 8810 info@hdfc.com.mv www.hdfc.com.mv

Housing Development Finance Corporation (HDFC)

CEO / MANAGING DIRECTOR

YEAR STARTED

EMPLOYMENT

INDUSTRY

OWNERSHIP

Raheema Saleem

2004 37 Other Public - Private Partnership

HDFC was incorporated in 2004, by a Presidential Decree under the Companies Act. (Act No. 10/96). HDFC’s commercial operations commenced on 29th March 2004 with hundred percent shareholding by the Government of Maldives which later in 2008 was privatized with the shareholding from ADB, IFC and HDFC Investments Ltd. (India), holding 51% of the share and the 49% of the shares by the Government of Maldives. HDFC is unique as the only mortgage housing finance institution in the Maldives. HDFC continues to offer new products and add values to the housing finance sector. HDFC has been a pioneer in introducing home/flat purchased finance products, and it continues to innovate and introduce new products to match the needs of the market.

PRODUCTS & SERVICES:

HDFC offers housing finance under both conventional and Islamic concepts for home construction, home purchases, home renovation/ improvement and also offers Investment products such as listed Bond and listed Sukuk. HDFC also manage Government Social housing schemes with the partnership of Ministry of National Planning, Housing and Infrastructure.

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

ILAA Maldives

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Adnan Moosa 1991 28 Engineering Private Held

ILAA Maldives Pvt Ltd is a family owned business established in 1991. Over the past 25 years, ILAA provides world renowned quality products for clean power generation, solid and liquid waste management and electric vehicles. ILAA Maldives head Office is located in the Industrial Zone of Hulhumale’. This 27,000 sq ft complex consist of an administrative office, showroom, warehouse and a light industrial building. ILAA has always been and remains committed to playing a key role in providing environmentally sound engineering solutions across the Maldives. Our Mission is “To be the leader in providing effective engineering solutions, quality products and excellent service to achieve total customer satisfaction in the region”

PRODUCTS & SERVICES:

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

INTOUR MALDIVES PVT LTD +960 333 9994 info@intourmaldives.com www.intourmaldives.com

Intour Maldives

CEO / MANAGING

YEAR STARTED

EMPLOYMENT INDUSTRY

OWNERSHIP

DIRECTOR

Ali Firaq 2005 30+ Travel Agent

Private Held

Intour Maldives – which first started its operations under the brand name “Intourist Maldives” – was officially launched in 1996. Since then, the company has been actively in service for upwards of 26 consecutive years in the Maldivian tourism industry, playing a major role in promoting the Maldives in Russia and CIS countries. The company introduced a host of tourism related services into the Maldives, including first charter operations from Key Markets to Maldives today. Intour Maldives is the leading DMC worldwide for several Maldives Luxury resorts, and are award-winning for our contributions and continued excellence, with contracts with all the major luxury brands in the Maldives.

PRODUCTS & SERVICES:

What sets Intour apart from other agencies is the level of high-class, tailored service which the company offers to its guests. This is evident from its client base, some of whom have been utilising the company’s services for decades. With their experience, and exclusive partnerships with the best properties in the Maldives, their clients rest assured that Intour Maldives has the most exclusive offers and best rates for them. Intour Maldives offers tailored luxury holidays and take care of our clients from and from pre, during and post booking their holiday at the Sunny Side of Life. They pride themselves on making the impossible, possible.

ISLAND AVIATION +960 333 5566 sales@iasl.aero www.maldivian.aero

Island Aviation

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT

INDUSTRY

OWNERSHIP

Mohamed Mihad 2000 1200 Aviation

Government

Island Aviation Services Limited established in 2000 is wholly owned by the government of Maldives and is based in the capital Male’. Maldivian is the National Airline of the country and plays a vital role in the aviation industry of Maldives to support the tourism industry by linking the inter islands within the country. Currently Maldivian operates over 150 plus sectors daily. these include schedule flights to and from all the airports within the country and for our guests who wish to experience the spectacular views, we offer our seaplane services to explore the extraordinary natural wonders that Maldives has to offer. The airline also provides custom charters and photo flights upon request.

PRODUCTS & SERVICES:

Besides offering a multifarious portfolio of airline services with international, domestic and seaplane operations, the company also provides engineering and maintenance services, cargo services, lounge services, airport management & operations, the company’s one stop shop Maldivian Holidays, and city check in services. In addition to scheduled commercial flights, IAS also operate charter flights, special medical evacuation flights and freighter flights on request.

ISLANDERS EDUCATION PVT LTD +960 302 2000 info@islanderseducation.com www.islanders.education

Islanders Education

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

SUBSIDIARIES

Abdul Rasheed 2012 311 Education 100% Local (Private Held)

Billabong High International School, Kangaroo Kids International Preschool, Finland International School Maldives, Islanders Institute of Applied Sciences (IIAS), Iqra International Preschool Ameer Ahmed Community Preschool

Hologo World, Teaching Tube EduSpark, Foundation for a Better Future

The first private company to open an international school in the capital city of Maldives, Islanders Education (IE), just celebrated 14 years in the education sector. IE has grown to become one of the largest private educators in the country with over 4000 students from 27 nationalities enrolled in schools across 9 islands in the Maldives. Today, IE runs multiple educational institutions offering programs for K-12, higher education and digital education. IE is the principal sponsor and founding member of ‘Foundation for a Better Future’, focusing on providing quality education to underprivileged and differently abled children. IE honors the holistic vision of education to be the single greatest enabler of social and economic growth in the nation.

PRODUCTS & SERVICES:

IE’s K-12 schools include Finland International School, Billabong High International School, Kangaroo Kids International Preschool and Ameer Ahmed Community Preschool. IE also runs various educational initiatives; these include teacher training programs by Islanders Institute of Applied Sciences (IIAS) and English competency courses in collaboration with British Council. IE owns and developed Hologo – a digital resource app for education, Teaching Tube - an online teaching solution for Secondary students, and EduSpark- an online professional development platform for teachers.

JETAN TRAVEL SERVICES COMPANY

PRIVATE LIMITED +960 331 5238 suresh@aitkenspence.lk www.adaaran.com

Jetan Travel Services

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT

INDUSTRY

OWNERSHIP

Susith Jayawickrema 1997 185 Tourist resorts

Private Held

Adaaran Resorts, in the Maldivian archipelago caters to diverse guest segments through its portfolio of resorts; namely Adaaran Prestige Vadoo, Adaaran Prestige Water Villas, Adaaran Select Meedhupparu and Adaaran Club Rannalhi. The resorts, each distinctly different from the other, are designed to create that ideal tropical getaway many find synonymous with the Maldives. Coupled with the shades of blues that come naturally to the island home, each resort has carefully maintained the rich vegetation underwater assuring breath-taking discoveries at each dive. The Adaaran Resorts feature a plethora of dining options, spa and relaxation, excursions both on the island and in the waters and plenty of spaces to rejuvenate before heading back home.

PRODUCTS & SERVICES:

Aitken Spence Hotels Maldives is a resort operator in the Republic of Maldives, started operations in August 1993 and today operates 2 Brands namely Heritance and Adaaran, 7 Resorts with 729 rooms. They are; • Heritance Aarah • Adaaran Select • Meedhupparu & Adaaran Prestige Water Villas – Raa Atoll • Adaaran Club Rannalhi – South Male Atoll • Adaaran Prestige Vadoo – South Male Atoll • Adaaran Select Hudhuranfushi & Adaaran Prestige Ocean Villas – North Male Atoll

KAIMOO TRAVELS & HOTEL

SERVICES PRIVATE LIMITED +960 332 2212 kaimoo@dhivehinet.net.mv www.kaimoo.com

Kaimoo Travels & Hotel Services

CEO / MANAGING DIRECTOR YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

SUBSIDIARIES

Mohamed Manih Ahmed

1979 557

Tourism And Investment

100% Local (Private Held)

Environmental Pest Control Services Pvt Ltd

Gan Invest Maldives Pvt Ltd

Mookai Suites Pvt Ltd

Mookai Hotel Service and Flats Pvt Ltd Kam Company Pvt Ltd

The Kaimoo Group, founded in 1979, is a leading Maldivian tourism investment group. The former Chairman of Kaimoo, late Hon. Kan’di Ismail, was the first Tourism Secretary of the Maldives. Today Kaimoo Group has invested in several tourism related properties across the Maldives. Kaimoo investments range from tourist resorts, airport hotels, business hotels and city hotels. With over 40 years’ experience, Kaimoo Group is one of the most trusted companies in the Maldivian tourism industry. Kaimoo is a devoted company that prioritizes not only high commercial value but also the satisfaction of its clientele, the welfare of its dedicated team and the overall prosperity of its community.

PRODUCTS & SERVICES:

In 1979, Kaimoo opened their first private investment, Embudu Village. In 1992, Kam Hotel, one of the first city hotels in Male’. After acquiring Ziyaaraifushi in 1996, the island was re-branded as Summer Island Village. In 2015, Summer Island Village was reopened as Summer Island Maldives after a complete redevelopment. In 1999, Equator Village, the first city hotel / resort in Addu Atoll was acquired. Kaimoo introduced the Mookai Hotel in 2002 and Mookai Suites in 2008.

LEO TRADING PRIVATE LIMITED +960 300 6638 leo@trading.mv www.leotrading.mv

Leo Trading

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

SUBSIDIARIES

Abdulla Sawad

2002 300+ Logistics Private Held

Leo Shuttle Pvt Ltd

Today, Leo Trading is the biggest andmost widely known logistics company in theMaldives responsible for the movement over 80% of almost all the physical/industrial goods between the point of origin to the point of consumption to meet therequirements of the customers.To date, there are over 150 employees working in 6 industrial locations, namely Male’ City. Hulhumale, Thilafushi,Laamu, Fuvahmulah and Addu City. Leo operates a fleet of over 100 different vehicles both on land and sea including dhonis, barge, landing craft, tug boats. speedboats. excavators. cranes, forklift, tractors, bob cats, buses and vans, etc. Heavyindustrial machineries include generators.hydraulic hammers, sand pump, refer and accommodation containers.RO plants, ighting towers and so on.

PRODUCTS & SERVICES:

Leo is an expert in leasing of heavy construction equipment. Cargo Clearance,Excavation and Dredging Back filing Sea and Land Transportation,Stevedoring and handling bulk Shipments,Heavy Lifting,Rescue and Salvage. Store and Supply Materials and Equipment Rentals. Our Current project ongoing namely , Thilafushi Road Repair and Maintenances (HDC).Logistic for VIA new terminal Project. Supply of Rock Boulder, Kudahuvadhoo harbour Project, Thoddu Harbour Project and Gulf Lagoon (SASE).Logistic JMC 2000 Housing Unit Project & 10 Island water & Sewerage Projects. Logistic for Afcons Bridge Project and Addu Road Projects

LIFE SUPPORT PVT LTD +960 777 6757 admin@lifesupport.mv www.lifesupport.mv

Life Support

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT

INDUSTRY

OWNERSHIP

2011 52 Wholesale And Retail Trade

Private Ownership

Life Support Pvt. Ltd. was founded in 2011, with the purpose of enhancing the quality of life of people throughout the Maldives. At Life Support, we care about everyone’s health, in all stages of their lives. Today, we have partnered with numerous brands across the globe to provide access to premium products. Our team of professional and competent individuals truly makes Life Support unique, and true to our brand of creating a community that is health-conscious and pro-actively aware of what makes their lives better. We are committed to upholding our core values of Integrity, Availability, Affordability, Involvement, Flexibility, and Quality. It is these values that lead and define our brand.

PRODUCTS & SERVICES:

Products: 1. Pharmaceuticals -One stop solution for pharmaceutical manufacturers including drug registration, distribution, inventory control, marketing, sales, and product promotion. 2. Nutrients/ Nutraceuticals: helps maintain body functions and stay fit during all stages of life.

Services: 1. We provide Medical consumables focused on assisting healthcare professionals that can cater for various service sectors. 2. Our Retail chain of pharmacies provide easy accessibility to obtain services and products through professional expertise.

Hussain Sobah

LINKSERVE PVT LTD +960 300 3000 sales@linkserve.com.mv www.linkserve.com.mv

LinkServe

CEO / MANAGING

YEAR STARTED EMPLOYMENT

INDUSTRY

OWNERSHIP

SUBSIDIARIES

DIRECTOR

Ibrahim Faiz 2002 73

Information and communication

100% Local (Private Held)

RB International Pvt Ltd (RedBox)

Link Serve Private Limited, the biggest IT based company in the Maldives has been serving the nation since the year 2002. With world renowned brands ranging from tools to major enterprise solutions of software and hardware, Link Serve brings Maldives closer to the growing innovations and technological advances in the world today. Being the leading service provider for Security solutions Link Serve has been educating and creating awareness among the community for a safer tomorrow. With an enthusiastic dedicated team of more than 85+ professionals we have grown our reach and network both within the capital city Male’ and across key regions in the Maldives.

PRODUCTS & SERVICES:

Networking Products - Personal Computers and Laptops - Computer and Mobile Accessories - POS Systerms - Networking And Electonic Tools & Tool Kits - Access Control, CCTV & Other Security ProductsSoftware & Intergrated Solutions - Security Solutions - Internet Protocol (IP) Solutions - Service Level Agreement, SLA - Networking SolutiondWi-fi Solutions - Audio Solution - Hardware Solutions - Server, Storage & Backup Solutions - Renewable Energy Solutions

LITUS

LITUS AUTOMOBILES PRIVATE LIMITED +960 744 4117 asif@litusgroup.mv www.litus.mv

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT

INDUSTRY

OWNERSHIP

Mohamed Zahid 2014 160 Other

Private Ownership

LITUS Automobiles has successfully acquired the largest automobiles network in the Maldives. We have changed the face of the industry by eliminating the hustle of a bundle of complicated paperwork required to obtain a motorcycle. The company was established with the ultimate goal to change the leasing system and offer an equal chance for everyone who wishes to lease an automobile. Now we are proud to be well known for the slogan “It’s easy with LITUS”. To enhance the convenience, we provide for our customers, more outlets of LITUS were opened in the major islands of the Maldives. In addition, we have collaborated with multiple local sales agents and as of now, we have more than 30 sales agents.

PRODUCTS & SERVICES:

Honda: PCX, Airblade 125, Airblade 150, Winner, Zoomer, Scoopy Club12, Scoopy Prestige, Click, ADV, Wave 125, Wave 110, Airblade 160, Legend 250 Twin and Super Club. Yamaha: Freego, Fino, Aerox, Excite 155, Filano, and NMax. Houjue: Houjue 125 and TRS 150. EV: Grace, and Crystal. In addition to the product line, our Service Center is fully equipped with an efficient task force to provide the best service to motorcycles. Our Spare shop will have all the major necessary quality spare parts at the best price.

M.H.A. PRIVATE LIMITED +960 332 3246 info@mha.mv www.mha.mv

M.H.A.

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT

INDUSTRY

OWNERSHIP

Sofwan Ahmed 2013 110 Wholesale and retail trade

Private Held

M.H.A. Private Limited is a fast-moving-consumer-goods (FMCG) distributor, wholesaler, and, retailer established and registered in the Maldives. It is one of the longest serving private companies in the country and was amongst the first 5 businesses to be granted import licenses by the Maldivian government in the 1970s. What started as a small business, operating out of one store in Chandhanee Magu in 1972, has since evolved to become one of the largest wholesalers, with a product portfolio ranging from baby food to ice-creams to edible oils. In addition, M.H.A. is proud to be the principal distributor for several world renowned brands such as Nestle, Haagen-Dazs, F&N, Dabur, and, more.

PRODUCTS & SERVICES:

M.H.A offers a wide range of products catering to both retail and wholesale markets. We are one of the largest importers and distributors of baby food from our Nestle Nutrition product range. In addition we also have the largest collection and flavours of ice-creams ranging from super premium brands such as Haagen-Dazs to premium brands such as London Dairy, Igloo, & Nestle. We have recently entered the edible oils sector and expect our 50-years experience to give a competitive edge.

M7 Print

CEO / MANAGING DIRECTOR

Mohamed Abdul Sattar

M7 PRINT PVT LTD +960 330 7787 print@m7maldives.com www.m7maldives.com

YEAR

STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

SUBSIDIARIES

2007 56

Print & Publishing

100% Local (Private Held)

Al Falah Paper

Our business was established under the name of SM Stationery in early 1996 and was renamed M7 Books in November 2003. The main line of business is paper-related products and services. Specialties include photocopying, retailing, wholesaling of nursery and primary level educational books and stationery for schools and offices. We have now expanded our services to duplicating and digital printing. The new venture M7 Print became active from December 2007. We promise to deliver uncompromising smart conclusions for our customers by simplifying their desired solutions under the corporate slogan of “Simplifying solutions”. M7 has already gained recognition in the duplicating market as a reliable brand name in Male’

PRODUCTS & SERVICES:

To meet the growing demands of our customers, we have expanded the range of services we offer. These include printing - large-format, books, brochures/leaflets, business cards, posters, calendars, ceramic tiles, greeting/ invitation cards, letterheads, menus, name plates, photo books, cloth/fabric printing and glass etching. Additional services include laser cutting, plaque making, self-ink/date-changeable stamps, creative designing, die cutting, pins, shopping/gift bags, trophies and shields. We provide after sales services to provide support to our clients after our products/services has been purchased.

MALDIVE GAS PVT LTD +960 333 5614 info@maldivegas.com www.maldivegas.com

Maldive Gas

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Shazail Shiyam 1999 248 Wholesale and retail trade

State Trading Oragnisation Plc, Champa Oil And Gas Pvt Ltd

In 1999, Maldives Gas was founded to provide our customers with the daily LPG requirements. Our goal is to ensure all our customers portray Maldives Gas as a quality service provider and a trusted partner. We have come a long way in achieving our goal, and today we are proud to be the market leader in the natural gas industry in Maldives. The Organization conveys LPG for households as well as resorts and as the sole supplier of Medical gas, MGPL caters to more than 95 percent of healthcare facilities throughout Maldives. Moreover, the company has an Oxygen plant in Indira Gandhi Memorial Hospital and HDh. Kulhudhuffushi to efficiently cater medical oxygen and is eagerly exploring expansion plans.

PRODUCTS & SERVICES:

Maldives Gas offers a wide range of products whereby effort is contributed to meet the demands and needs of our customers effectively. The primary categories of products offered by Maldives Gas includes Liquid Petroleum Gas (LPG), Medical Oxygen, Medical Nitrous Oxide and industrial gases including Acetylene, Argon, Nitrogen, Oxygen, Helium and Kalton brand refrigerant gases. Furthermore, the company achieves optimum level of performance in the services provided as well. These services include LPG cylinder refurbishing, re-qualification, Hydro testing and Sandblasting.

MALDIVES AIRPORTS COMPANY LTD +960 332 5511 info@macl.aero www.macl.aero

Maldives Airports Company

CEO

/ MANAGING DIRECTOR

YEAR STARTED

EMPLOYMENT INDUSTRY

Mahjoob Shujau 2009 3500 Aviation

OWNERSHIP Government

SUBSIDIARIES

Maldives Inflight Catering

Maldives Airports Company Ltd (MACL) the operator of Velana International Airport is a 100% government owned Limited Liability Company governed by a Board of Directors appointed by the Privatization and Corporatization Board of the Maldives. MACL has embarked on the largest development project in the Maldives which includes a new Code F runway which can accommodate A380 aircrafts, a Passenger Terminal which can handle 7.5 million pax annually, a Cargo Terminal & a Fuel Farm which is 3 times the size of the present facility, the world’s largest Seaplane Terminal along with other infrastructure developments. During the pandemic MACL was awarded the ACI Health Accreditation Certification & also the Voice of the Customer Recognition Award. MACL is EU-RA3 & ISAGO certified

PRODUCTS & SERVICES:

Air Traffic Management Services, Ground Operation Services, Passenger Handling Services, Terminal Services, Cargo Services, Fueling Services, Duty Free Services, Lounge Services, Utility Services, Transport Services, Maintenance Services, Commercial Services, Airport Rescue & Fire Fighting, Airport Emergency Services, Aerodrome Maintenance, Safety & Security Compliance, IT Solutions, Corporate & Commercial Services, Legal, Mechanical Work Shop Services, Projects Planning & infrastructure development Services.

MALDIVES INDUSTRIAL FISHERIES COMPANY LIMITED +960 332 3932 info@mifco.mv www.mifco.mv

Maldives Industrial Fisheries Company

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Ismail Fauzee 1993 1690 Other Private Ownership

Maldives Industrial Fisheries Company Ltd (MIFCO) is the state-owned fishing company incorporated in 1993, with the sole purpose of creating economic opportunities for the local fishing community by adding commercial value to the daily catch. MIFCO is the pioneer in Maldives fishery, transforming the age-old practice of small-scale fishing to feed the family, the community and exporting the excess into a global enterprise. MIFCO’s collector vessels collect the daily catch directly from local fishermen spread across the Maldives, stores the supply in freezer facilities, then processes for consumer market. Entering the market with just one tuna processing plant, the company now boasts of four operational sites, nine ice plants and seven local shops to cater to the growing market base.

PRODUCTS & SERVICES:

MIFCO has a diverse product range that includes canned, chilled and frozen tuna, ready to eat range, Ras’ain and smoked dry products. MIFCO’s export products include whole frozen tuna, tuna loins, cans and pouches. Having achieved the most stringent quality standards in the industry, MIFCO supplies to some of the world’s leading brands to distribute under their own labels. MIFCO’s own brand “Fasmeeru” first produced in 1998, maintains market leader status introducing innovative new products locally.

MALDIVES ISLAMIC BANK PLC +960 332 5555 customercare@mib.com.mv mib.com.mv

Maldives Islamic Bank

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

2011 250 Financial Sector

Public Limited Company

Established on 2nd August 2010, Maldives Islamic Bank is a collaboration between ICD (IsDB) and the Government of Maldives. It is the first and fully shariah compliant bank in the Maldives providing a comprehensive range of banking services based on Shari’ah principles including deposits, financing facilities and other ancillary services. The bank opened its’ doors on the 7th of March 2011 with the opening of its Main branch in Male’, the capital of Maldives, and quickly followed suite by expanding into all major population centres of the nation.

PRODUCTS & SERVICES:

Over the years MIB has accomplished major milestones including going public - IPO in July of 2019, achieving ICD’s Global Financial Innovation Award 2020 to MIB Ujaalaa Dhiriulhun Facility – most indemand consumer financing facility in the country and launching of MIB VISA Card, which is accepted in all merchant POS machines throughout the Maldives. Today, MIB operates 6 branches in 5 atolls across the country and continues to penetrate and reach the entire market through its evolving Digital Banking services like mobile banking and internet banking.

Mufaddal Idris Khumri

MALDIVES STATE SHIPPING COMPANY

PRIVATE LIMITED +960 302 9200 info@stateshipping.mv stateshipping.mv

Maldives State Shipping Company

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

State Trading Organization Plc

Maldives State Shipping (MSS) is a shipping and logistics company launched in 2020 offering an extensive international liner shipping service. MSS is owned by State Trading Organization Plc (STO) and its subsidiary Fuel Supplies Maldives (FSM). Despite the challenges faced by the company and the shipping industry during the pandemic, MSS’s growth has been rapid and consistent.

MSS commenced its service by employing a chartered ship. However, within the last two and half years, MSS’s fleet has grown up to 3 ships, which consists of a bulk carrier and two Containers vessels. The Bulk carrier maintains a run between UAE and Maldives while the Container ships operate between Colombo and Malé. Southeast Asia Service is expected to commence by Late September and will maintain a call every 10 days to Singapore and Port Klang, Malaysia.

PRODUCTS & SERVICES:

MSS is engaged in delivering a variety of services in the shipping and logistics sector such as: - Liner Service; NVOCC (Non-Vessel Operating Common Carrier) Operations; Freight Forwarding Service; Feeder Service; Ship Agency Service and Direct Cargo services to the Northern and Southern Ports of the Maldives. MSS services are available from key ports of the Asian and Gulf region.

Captain Abdullah Saeed 2020 21 Logistics

MALDIVES TRANSPORT AND CONTRACTING COMPANY PLC 1650 info@mtcc.com.mv www.mtcc.mv

Maldives Transport and Contracting Company

CEO / MANAGING DIRECTOR YEAR STARTED

EMPLOYMENT

INDUSTRY OWNERSHIP

Adam Azim 1980 3990

Construction, Dredging, Docking, Engineering, Public Transport & General Trading

Government 64.20%, Public 31.15%, MNSL 4.65%

Maldives Transport and Contracting Company (MTCC) was incorporated in 1980 and is currently the longest-serving public company in the Maldives. The company was established with the objective of contributing towards the development of infrastructure and transport services in the Maldives. Since then, MTCC has positioned itself as one of the strongest business entities in the country with a diversified range of products and services. Currently, the company has a very well-trained and qualified work force of over 3,990 employees across the country. The company’s success lies in its business strategy, which revolves around the desire to provide quality and reliable products and services; the implementation of stringent quality control systems; the adoption of the latest technological innovations; and relentless efforts to recruit and retain qualified employees.

PRODUCTS & SERVICES:

Our core business activities include Infrastructure Development and Construction, Dredging and Reclamation, Public Bus and Ferry Transport service under the brand of Raajje Transport Link, Engineering and Docking service, and General Trading of Marine related products with complimentary Aftersales Service.

Our plethora of reputable product brands includes: Yanmar Inboard Engines, Suzuki Outboard Engines, Castrol Lubricants, PPG Protective and Marine Coatings, Marol Steering Systems, Donaldson Filters, Scott Bader Boat Building Composites and Industrial Gas services.

MALE' AERATED

WATER COMPANY PVT LTD +960 332 9999 sales@mawc.com.mv www.mawc.com.mv

Male' Aerated Water Company

CEO / MANAGING DIRECTOR

YEAR STARTED

EMPLOYMENT

INDUSTRY

Sanjay Maniku 1989 396 FMCG – Beverages

MAWC is the first company which has started the manufacturing of Beverages and has been serving the Republic of Maldives with world class norms and quality products for the past 33 years.

We at MAWC exist to benefit and refresh everyone in Maldives by relentlessly striving to exceed the expectation of our customer and consumers, providing safe and highest quality products and continually improving our systems and processes

PRODUCTS & SERVICES:

MAWC has 6 production lines with 10 international brands including flagship brand Coca-Cola. 48 SKU’s (Stock Keeping Units) are produced locally. MAWC refreshes all geographical areas of Maldives and all channels of the Retailers including Resorts and Guest Houses.

We have constantly shown our commitment in action, raising awareness, and communicating the importance of recovery and recycling, water stewardship and other ESG priorities. Our 300ml PET Sparkling was replaced with glass bottle packaging in 2019 while Schweppes was launched in glass in the year 2020. Sprite and Bon Aqua were transitioned to clear PET, making them easier to recycle.

Most of our beverages are now available in ‘Made in Maldives’ cans. Becoming the first Maldivian manufacturer to produce cans in the country is a testament to our ongoing commitment & innovative business augmentation. We continue to foster our sustainability initiatives through vigorous on-the-ground funding, partnerships and knowledge sharing to make the Maldives and the world a better place for all.

OWNERSHIP

Private Limited Company

MALE’ WATER AND SEWERAGE COMPANY PRIVATE LIMITED +960 332 3209 mail@mwsc.com.mv www.mwsc.com.mv

Male’ Water And Sewerage Company

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

SUBSIDIARIES

Hassan Shah 1995 1245 Utilities

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

Island Beverages Maldives Pvt Ltd

Established on the 1st of April 1995, Male’ Water and Sewerage Company is the pioneer organization in the Maldives to institute a water production and wastewater management system. Since then, the Company has worked diligently to provide the people of Male’ with potable water and manage wastewater sustainably, and at present serves approximately more than 50% of the Maldivian population. Today, MWSC has become a multi-disciplinary engineering and manufacturing organization, as a visionary providing engineering solutions for integrated utilities and as a manufacturer of its own range of products. Since the inception of the Company, MWSC has built all its strategies around the corporate objective of providing safe water and sewerage services which are sustainable, affordable, and environmentally friendly.

PRODUCTS & SERVICES:

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

Maxcom Technologies

CEO / MANAGING DIRECTOR

Mohamed Fazeel

MAXCOM TECHNOLOGIES PVT LTD +960 777 1676 sales@maxcom.com.mv www.maxcom.com.mv

STARTED EMPLOYMENT INDUSTRY

YEAR

OWNERSHIP

SUBSIDIARIES

2005 36 Information & Communication Technology

Private Ownership

Maxcom Training Solutions

Founded in 2005, Maxcom technologies sis the leading Provider of information Communication Technology and Smart devises in the Maldives. During this 18-year period Maxcom Technologies has Contributed a significant role to advance and Develop the ICT industry of the Maldives. We are proud to have successfully Deployed Data center Facilities for Major National Infrastructure projects and has received various regional recognitions and Awards from our partners. Maxcom technologies is the Market leader in supplying quality ICT products and services to corporate, consumer, retail, small business enterprises, Public Sector, Health, Telcos and Hospitality segments. We cater to over 300 corporate customers in different verticals and proudly held DELL Technologies Titanium Partner Status and National Distributor for Huawei and Samsung Brand in the Maldives.

PRODUCTS & SERVICES:

Computer hardware and software enterprise IT solutions consumer IT products and services of the sales support services. Our products and services includes Dell Technologies products, Microsoft licensing solutions including Microsoft Azure Stack HCI ( hyper converged Infrastructure Solutions), Azure Cloud, 365 Cloud, DELL Desktop, Laptops, and all Clients products, DELL Servers and storage, VXRAIL HCI solutions for DR (disaster recovery sites), Huawei Mobile phones, Samsung Mobile phones, Huawei Enterprise Infrastructure solutions for Data Centers, Smart City Solutions, Huawei Cloud Storage, Artificial intelligence Surveillance, and UPS Solutions.

MEDIANET PVT. LTD.

+960 995 5559 content@medianet.com.mv www.medianet.mv

Medianet

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

SUBSIDIARIES

Ahmed Shafeeu

2005 144 Other Private Held

Island tv Pvt. Ltd. & Fuvahmulak Pvt. Ltd.

Medianet, which is in every home and business in the Maldives, is now the country’s largest independent cable TV provider. We are known for our great track record in providing infotainment and entertainment with the most cost-effective solutions, quality service, and unmatched content. Most of our employees are from the Maldives, including the top management team. Medianet wants to give its large client base consistent customer service, and entertainment. Customers can watch high-quality sports and entertainment channels like the English Premier League, the Spanish La Liga, the BWF, and the ATP Tour on its UHD and HD channels (Zee TV, Warner TV & Paramount Channels). Medianet also has content that is only available on Medianet, like Nick Jr., Cartoon Network, and PBS Kids

PRODUCTS & SERVICES:

MS Digital App - on the go and on any device, MSTV app / MS Life appdecoder-less cable TV solution for smart TVs, UHD and HD channels and content, Interactive TV services including catch up, start over and many more, Videoclub - SVoD service with a variety of loyal and international movies and series including Medianet

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

Medtech

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

SUBSIDIARIES

Mubah Rafeeu 2009 57 Education and healthcare

Private Ownership

Mediflex Private Limited

Medtech Maldives is a company specialized in selling and distribution of medical equipment, consumables, laboratory reagents and products related to the medical field within the Maldives. New developments in science and technology in the field of medicine has brought unprecedented solutions to health care service providers and patients. We are proud to have introduced these solutions successfully to the health care industry of the Maldives. after a decade of service, we are proud to be called a leader in providing medical equipment, with global partnerships a reputed track record of delivering and technical support. today our customers range from the largest hospitals to small community centres in the Maldives.

PRODUCTS & SERVICES:

Medtech is regarded as a company of choice and the preferred partner for the quality products it supplies to the healthcare market to help people improve their quality of life through the brands that are recognized as the best in the healthcare industry and those with approved safety records in the markets. Some of the products we provide are from well recognized brands such as GE, Abbott, Bbraun, Hill-Rom, Thermo Fisher Scientific, Fisher & Paykel Healthcare and Medtronic.

MEGACHIP ELECTRONICS PVT LTD +960 333 3088 info@megachipcomputers.com www.megachiplive.com

Megachip Electronics

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

Ahmed Zareer 2000 15+

Information and communication

Private Ownership

For over 20 years, Megachip Electronics has been one of the leading ICT Solutions Providers in the Maldives, providing its services to businesses of all sizes across various sectors. Founded in 1994, as a service centre to repair electronics items, Megachip has since grown to become a fully diversified Information and Communications Technology company managing strategic partnerships with well renowned brands in the industry such as Dell, Microsoft, VMWare and more. Megachip is now also a key player in the consumer market in addition to the business market, with a new showroom in Hulhumale’ consisting of a broader range of products and services.

PRODUCTS & SERVICES:

We focus on understanding our customer needs and requirements. We can consult with your organization to provide custom based solutions and services to modernize, upgrade and improve performance and security of your infrastructure. We provide design and implementation of infrastructure and network for businesses all sizes using Enterprise Solutions. From repair and maintenance to providing continuity solutions using a range of backup and disaster recovery methods, we do it all to make sure our customers get the best.

MIANZ PVT LTD +960 334 1545 +960 334 1535 info@micollege.edu.mv www.micollege.edu.mv

MIANZ

FOUNDER / CHAIRMAN

YEAR

STARTED EMPLOYMENT INDUSTRY

Ahmed Mottaki 2009 150 Other

Private Ownership SUBSIDIARIES

OWNERSHIP

Mianz International College (MI CollegeMaldives), Mianz International School, Maldives Mianz Preschool & Daycare, Sri Lanka Mianz Preschool & Daycare, Nepal Mianz Preschool & Daycare, Bangladesh Mianz Foods, Maldives Meat Street, Hulhumale’

MIANZ Pvt limited is part of the MIANZ international group, the group consists of MIANZ Pvt Limited and MIANZ Investment Pvt Limited which operates the restaurant business. MIANZ is also a sister concern of MIANZ Eagle General LLC Dubai, UAE. MIANZ Private Limited has four different business segments namely MIANZ International College, which is at present the third largest college in the Maldives, MIANZ schools, MIANZ Foods & Meat Street Restaurant. MI College was founded by Mr. Ahmed Mottaki in July 2006 with the motto “Inspiring Excellence”. In a span of 16 years, the institution has massively grown its presence in 20 different islands of the Maldives including 12 major international collaborations with reputed educational institutes from Sri Lanka, Malaysia, the United Kingdom, India, and Nepal.

PRODUCTS & SERVICES:

MI College offers courses, Certificate level 1 to Masters, in different streams including, business administration, Accounting and Finance, ICT, Agriculture, HRM, Primary and secondary teaching, and Language courses. MI College have also introduced School of Robotics & School of Agriculture. MIANZ Foods imports meat and various range of food products from Bangladesh, Korea, Vietnam, and Malaysia to cater to resorts and retail shops. Meat Streat restaurant, located at Hulhumale’ is a multi-Cuisine Fusion Restaurant where handpicked exotic cuisines from around the world now served in Maldives.

MUNI GROUP OF COMPANIES +960 333 1512 info@muni.com.mv www.munihomecare.com

Muni Group of Companies

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

SUBSIDIARIES

Mukhuthar Hassan 2000 347 Wholesale and retail trade

Private Held

Muni Travels, Fushifaru Investments, Beachwood Investments

With over three decades in the goods and service industry, MUNI was founded in year 1983 by Mr.Mukhuthar Hassan and Mr.Nizar Hassan by investing in their first retail store. Our venture in to the tourism industry was marked by our first diving boat in the year 1987 titled Muni Express. Having achieved successful 10 years simultaneously in the trading and tourism sector during the 1990’s MUNI further expanded its business in tourism sector by investing in two luxury safari vessels Princess Haleema and Moonima. During the year 2000, MUNI Enterprises Private Limited came along with Mr.Ahmed Shiham as an additional shareholder.

PRODUCTS & SERVICES:

The company has expanded its product portforlio by increasing the numbers of sales outlets providing unparalleled authentic and reliable home improvement products in the Maldives and also by tapping in to the real estate industry by investing in luxury residential property development called Fitron Residences in Hulhumale’. In 2017 the successful opening of Fushifaru Maldives Resort sealed MUNI’s place in the booming tourism industry. MUNI Group marked its successful 38 years of existence in 2021.

NAADU PRIVATE LIMITED +960 300 6789 info@naadumaldives.com www.naadumaldives.com

Naadu

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

Mohamed Jalal 2017 19 Education and healthcare

Private Held

Founded in 2017, Naadu Private Limited is one of the leading supplier and distributer in the Maldives of medical equipment and consumables. Representing several global brands, Naadu has become a name synonymous with professionalism, quality, and reliability. Naadu was formed to deliver modern technologies and medical diagnostic equipment to the islands of the Maldives – bridging the Nation’s healthcare. Made up of a multi- national, highly skilled workforce, the Naadu team is committed to delivering excellence in healthcare to all our partners and clients. In the fast-growing medical industry in the Maldives, our knowledge is kept current, supplying some of the best brands in the world to hospitals and clinics across the nation.

PRODUCTS & SERVICES:

Offering a wide range throughout the country, including Haematology – via Japanese giant Nihon Kohden, Immunology services with the innovative Boditech Med, South Korea. Top quality renal care is delivered through the global leader in kidney disease management with Baxter. Our portfolio also offers Blood Management, pre-analytic, laboratory medical devices, consumables, and instrumentation for clinical applications. Our highly qualified bio-medical engineers ensure comprehensive training for all laboratory staff, regular maintenance, and ongoing monitoring of quality control.

Nalahiya Trading

CEO / MANAGING DIRECTOR YEAR STARTED EMPLOYMENT INDUSTRY

Ismail Jumayyil Waheed 2002 400+ Other

NALAHIYA TRADING PVT LTD +960 333 1999 info@nalahiyatrading.com www.nalahiyatrading.com

OWNERSHIP

Private Held SUBSIDIARIES

Nalahiya Construction Pvt Ltd Nalahiya Logistics Pvt Ltd

Nalahiya Trading Pvt Ltd is a construction material supplier based in the island nation of the Maldives. Nalahiya Trading has been dedicated to providing customers with high-quality products and standards of service. Over the years Nalahiya has grown into one of the largest building material suppliers in the country. With a workforce of over 400 employees, this company is one of the largest private companies in the Maldives. The founder’s deep-held philosophies, beliefs, and values have shaped the way the company does business and deals with its customers. Values such as hard work, customer focus, preserving a high quality of products and services have always been held in high regard.

PRODUCTS & SERVICES:

Retail and Wholesale of Construction Material ( Cement, Aggregate, Manufactured Sand, River Sand, Fine Sand, Steels, Rebars,) Hardware items Delivery Scheduling and Coordinating Construction Construction Equipment Rentals Shipping and Importing Aluminium And Glass Fabrication ( Guardian Brand Glass authorized distributor) Tiling and Plumbing International Port Operations Real Estate Management Rental of Vehicle and Machinery ( Landing Crafts, Vessels, Crane, Excavators, etc..) Cargo clearing services

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

Novelty Printers And Publishers

CEO / MANAGING DIRECTOR

YEAR STARTED

EMPLOYMENT INDUSTRY

OWNERSHIP

SUBSIDIARIES

Asad Ali 1992 148 Printing & Publishing Manufacturer

Private Held

NB Investments, Novelty Bookshop, Novelty Bookstore, Novelty Bookshop Hulhumale, FDI Station, Novel Investments, Novel Colors, N Paper, Paper World, NPlus, Seasplash, Seasplash Gallery, Vantha

Novelty started as a backyard business in 1965 using largely manual work, rudimentary machinery and lots of sweat. Through hard work and perseverance. Novelty’s Late Chairman Mr. Ali Hussain pioneered the printing industry in Maldives in sync with every advancement in the printing industry internationally. Today Novelty Group has diversified business in printing, paper converting, bookshops, paints and coatings, photography, digital imaging, transportation, dive and water sports and hospitality, Celebrating 57 years of excellence in 2022, Novelty Printers & Publishers has continued its stride to provide the highest quality products and services possible, in a time manner, at competitive rate and provide services that exceeds the expectations of our esteemed customers.

PRODUCTS & SERVICES:

Novelty’s range of printing includes corporate stationery, accounting stationery, annual reports, brochures and flyers, business cards, files and folders, desktop and wall hanging calendars, posters, magazines, newsletters, packaging, labels, large format printing, sublimation, UV printing, digital cutting, customized wallpapers, danglers, stickers, security seals, corporate stamps, membership cards, bill books, security printing and more. We cater to conferences, seminars, celebrations and seasonal events.

OOREDOO MALDIVES 929 or +960 961 3929 care@ooredoo.mv www.ooredoo.mv

Ooredoo Maldives

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

SUBSIDIARIES

Khalid Hassan Al-Hamadi 2004 367 Telecommunications Ooredoo Group

Ooredoo Maldives is a Subsidiary of Ooredoo Group

Ooredoo Maldives is a member of Ooredoo Group, a leading international communications company delivering mobile, fixed, broadband internet and corporate managed services tailored to the changing needs of consumers and businesses across markets in the Middle East, North Africa and Southeast Asia. Guided by its vision of enriching people’s lives and its belief that it can stimulate growth by leveraging communications to help people achieve their full potential, Ooredoo Maldives has transformed the digital lives of communities across the nation. Since the beginning, Ooredoo Maldives have remained at the helm of revolutionary changes in the development of telecom industry of the Maldives through world-class technologies and innovative solutions.

PRODUCTS & SERVICES:

Ooredoo Maldives caters to customers across Maldives providing a wide range of innovative voice, data, broadband, content, enterprise, digital finance and e-commerce services tailored to the changing needs of consumers. As a telecommunications leader, Ooredoo Maldives is the first operator to launch the first-ever and fastest 3G, 4G Networks and 5G Home Broadband services in the Maldives. The company also established the first ever Digital Center and a tier-3 ready Data Centre in the Maldives further upgrading the digital infrastructure of the nation.

PERSONAL COMPUTERS +960 300 3033 marketing@personalcomputers.mv www.personalcomputers.mv

Personal Computers

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Shamee Abdul Gafoor

2008 63

Information and communication Private Held

Personal Computers is the largest retailer and wholesaler of information technology hardware, software & enterprise solutions since 2008. Beginning with a single retail outlet selling refurbished desktops and laptops, today PC has paved its way forward towards providing solutions to corporate and government organizations; whilst growing, brands and products steadily, to entertain a vast clientele. With a vision of enhancing enterprise environments through modern technological advancements, PC has made it its mission to render your needed solutions in time with quality at the best rates, delivery, and after-sales service. Today, PC stands stronger with 7 resellers scattered across different atolls, ensuring better nationwide service.

PRODUCTS & SERVICES:

“For All Your IT Needs”, Personal Computers provide total IT solutions to their clients which include, an online store, hardware repairing and upgrading, enterprise solutions, network infrastructures, Personal Maintenance Contracts (PMCs), and Personal Hardware as a Service (PHaaS). Personal Computers is the sole distributor for Lenovo, Logitech, Net Nanny and Vention for Maldives. They are also the authorized partners of HP, Kingston, Grandstream, APC, Vertiv, and 3CX to name some of the many brands they carry under their banner.

PLAZA ENTERPRISES PRIVATE LIMITED +960 332 8675 enterprises@plaza.com.mv www.plaza.com.mv

Plaza Enterprises

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY OWNERSHIP

Nasrulla Mohamed Didi 2015 42 Wholesale and retail trade

Private Held

SUBSIDIARIES Plaza Incense, Plaza Textiles, Plaza Plus, Plaza Construction, Plaza Carpentry, Plaza Engineering Workshop, Plaza Tailors, Plaza Saloon

Established in 1952, but later incorporated and rebranded in 2015 as Plaza Enterprises Private Limited. It is one of the earliest family-owned businesses in the Maldives now in the 3rd generation of management. Plaza Enterprises Private Limited is a wholly-Maldivian-owned company specialising in the import and wholesale of Perfumery and Textiles in the Maldives with a separate outlet for each trade in Male’ and a department store in Addu. Each Business under the umbrella of Plaza Enterprises Private Limited has its own unique customers which include government offices, private companies, public companies, resorts, hotels and guesthouses, airlines and local retail businesses.

PRODUCTS & SERVICES:

Wholesale and Retail of Perfumes, Concentrated Perfume Oils, Deodorants, Air Fresheners, Hair Care, Dental Care, Body Care, Personal Care, Baby Care, Nutrition, Honey, Uniform Fabrics, Shirting Fabrics, Suiting Fabrics, Linen Fabrics, Curtain Fabrics, Bed Linen, Bath Linen, Sewing Machines and Accessories, Construction Materials, Kitchenware, General Household Goods, Cleaning Products, Hardware and Power Tools. Services include Carpentry, Engineering Workshop, Hair Salon, Real Estate Development and Management.

PRINT LAB +960 7 771069 info@printlab.com.mv www.printlab.com.mv

Print Lab

CEO / MANAGING DIRECTOR

YEAR STARTED

EMPLOYMENT

INDUSTRY

OWNERSHIP

Madeeh Jamal

2009 45

Printing & Publishing manufacturer

Private Held

Print Lab Creative is a large format digital printing facility owned by Tropical Investments Pvt. Ltd, serving government organisations, public & private companies in Male’ and the local islands since 2009. Print Lab Creative currently provides the largest, widest large format printing in the Maldives, with 8 large format printers including a specialised printer for fabric and UV prints. Print Lab can deliver up to 20,000 sq feet per day which makes the company expeditious and prompt. With the in-house multi workshop, a complete solution under one roof to all customers are provided here. Since opening 12 years ago, Print Lab has had the most skilled, professional and customer friendly team in this field.

PRODUCTS & SERVICES:

The company is adept in producing from the smallest to the largest sizes in printing. The services can be sought in a wide spectrum ranging from large format printing, wood & metal works, full branding solution, events & production, retail imaging, customized signage, flags, wallpaper printing & installation, photo framing ads in public spaces, interior signage, vehicle imaging, banners, billboards, events and even exhibitions.

RAINBOW ALUMINIUM PTE LTD +960 334 0400 hrd@rainbow.com.mv www.rainbow.com.mv

Rainbow Aluminium

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

Ibrahim Rafeeq 1995 74 Construction

Private Held

Rainbow Aluminium Pvt Ltd (RA) is regarded as the very first company established in the Maldives to focus on the fabrication of aluminium doors, windows, curtain walls, and cladding. RA’s mission is to deliver a high-quality product, on time and within budget while providing an exceptional customer experience. The main career objective of RA is to achieve and sustain the status of No.1 fabricator in the Maldives. Throughout the years, RA has successfully completed an impressive number of projects. RA has indeed become an active partner of the Rainbow Group of Companies contributing continuously to the Group’s corporate strategy of ONE-STOP BUILDING SOLUTION.

PRODUCTS & SERVICES:

The product and service portfolio of RA 1. Fabricating and Installing Aluminium Doors and Windows The types include Casement Window, Sliding Window, Swing Door, Folding Door, Shopfront, Tempered Glass Door, Aluminium Louver and Aluminium Grill. 2. Curtain Wall and Structural Glazing 3. Roller Shutter Door 4. Weatherclad Wall Protection System 5. Wall Cladding/ALPOLIC Cladding 6. Exterior and Interior Strip Ceiling System 7. Shower Cubicles 8. Aluminium Perforated Sheets

RASHEED CARPENTRY & CONSTRUCTION PVT LTD +960 331 7878 inquiries@rcc.com.mv www.rcc.com.mv

Rasheed Carpentry & Construction

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY SUBSIDIARIES

Ibrahim Rasheed 1995 936

Construction

OWNERSHIP

100% Local (Private Held)

RCC Aluminium, RCC Buildware, RCC Rentals, RCC Apartments, RCC Carpentry. RCC Elevators, RCC Maintenance Services, RCC Supermix, RCC Bricks

Rasheed Carpentry and Construction Pvt Ltd has emerged as one of the most respected general contracting companies in the Maldives. Our business has proved our ability to take on large and complex projects to be completed on time, on a budget, and at the highest levels of quality. Over the years, we have developed multifaceted systems and procedures to ensure control over cost, quality, schedule, scope, and safety. We foster an atmosphere of mutual trust and cooperation among the team members by remaining sensitive to their specific needs throughout the project life cycle. We also have a company-wide policy encouraging quality services at a competitive price, ensuring the highest degree of professional service and results on all projects undertaken.

PRODUCTS & SERVICES:

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

REDWAVE PVT LTD +960 919 4499 sales@redwave.mv www.redwave.mv

Redwave

CEO / MANAGING DIRECTOR YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

SUBSIDIARIES

Mohamed Naajil

2001 390 Wholesale and Retail Trade

Private Held

Redwave Constructions

Avelon Pvt Lt

Known as the largest supermarket chain in Maldives, with 12 strategically placed outlets; Red Wave caters a plethora of products for your day to day needs; from groceries, households, utensils, electronics and to furniture. Red Wave ensures a wide variety of products and internationally recognized brands are made available at affordable prices. With a further aim of providing a one-stop shopping experience while offering convenience and ease, saving valuable time and effort to their valuable customers, Red Wave’s unprecedented supermarket concepts in the country, proved to benefit both the company and its valued customers. Today with 20+ years of experience; Red Wave is going strong, seeking further expansion and implementation of modern and a green approach to shopping.

PRODUCTS & SERVICES:

The products and services Red Wave provides are numerous. A wide range of supermarket items, groceries, kitchen utensils and appliances, home and industrial appliances, household equipment, digital gadgets, home and office furniture, hardware, clothing, kid’s toys and the list goes on, with its new addition being clothing and accessories. From increasing its ecommerce presence via its new website, to making groceries available at the most affordable rates in the country Red Wave have strengthened its products & services.

REEFSIDE COMPANY PVT LTD +960 332 3545 reefside@reefsidemaldives.com Reefside.mv

Reefside

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

SUBSIDIARIES

Hassan Zahir

1985 52

Wholesale and Retail Trade

Private Held

Eco Cool Company Pvt Ltd

Despite its humble beginnings in 1976, Reefside Company now leads the way for sale of watches and electronics of repute in the Maldives. The company has further gained the trust of their customers by establishing the full -fledged Watch Service Center and Electronics Service Center for quality After Sales Service in the Maldives. Reefside is recognized as a leader in selling original watches and electronic products in the Maldives for 4 decades, with the celebration of their 45th Anniversary in 2021. Reefside leads the way in enriching and innovating people’s lifestyles, through their commitment to quality, constant innovation, and aim to exceed expectations with regard to customer trust and loyalty.

PRODUCTS & SERVICES:

Agent & service provider for reputed International Watch brands, such as Rado, Longines, Tissot, Seiko, Citizen, Balmain, Titan etc. Distributor & service provider for the premium and quality Electronics brands such as Bose, Nikon, Sony, Whirlpool, LG, Hisense, Aiwa etc. Specialized in audio/visual integration solutions for the hospitality industry and corporate businesses. Providing air-condition solutions for the consumer & commercial clients.

REFCOOL

+960 330 9900 info@refcool.com.mv refcool.com.mv

Refcool

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT

INDUSTRY

OWNERSHIP

SUBSIDIARIES

Ahmed Haleem

2002 170 Whole Sale & Retail, Tourism, Marine and Real Estate

Private Held

Ref Cool Investment Pvt Ltd

Travavel & Tours Pvt Ltd

Season Paradise

Ref Cool Holding Pvt Ltd

Ref Cool Maldives Pvt Ltd

Since being founded in 2002, Ref Cool has grown to become a wellestablished brand name in the local market, especially in the field of refrigeration and Air-conditioning. Ref Cool is largely recognized in the Maldives as the sole authorized distributor of Gree, the number 01 airconditioner in the world. Starting as a small outlet selling air-conditioning units and related services, the company now serves a broad customer base in a variety of economic sectors, including tourist resorts, boat operators, real estate developers and construction companies. Earning the respect of nationwide businesses. Ref Cool growth is a result of the company’s functional diversification and the relentless effort to achieve complete customer satisfaction, trust and confidence.

PRODUCTS & SERVICES:

Ref Cool’s business ranges include, Ref Cool’s first outlet which is specialises in AC & Refrigeration, Ref Cool Electronic’s specialized out let for home appliances, Ref Cool Holdings as a real estate solutions, and Cool Ride for motor vehicle and spare parts. Under Ref Cool Travels and Tours Pvt Ltd, Season Paradise, a 48-room guest house, situated at K. Thulusdhoo initiated operations under the Ref Cool banner. Season Paradise is designed to cater to tourists and locals alike, to provide an enjoyable and memorable holiday experience. Ref cool marine was introduced to support the Travel venture, to provide transportation services between Male’, Hulhule, and Thulusdhoo.

SEAGULL GROUP PVT LTD +960 332 3617 info@seagullmaldives.com www.seagullmaldives.com

Seagull Group

CEO / MANAGING

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

DIRECTOR

100% Local (Private Held)

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

37 years of its establishment presents a proud team of diverse proficiency representing 7 retail outlets, 1 café and 1 island dedicated to local agriculture and fisheries produce. Relying on our experience and dependable team, we are constantly refining and perfecting our products and services, in accordance with our aim to become the best in the country.

PRODUCTS & SERVICES:

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

Salah Shihab 1984 170 Wholesale and Retail Trade

SENIOR INTERNATIONAL PVT LTD +960 333 2002 info@seniormaldives.com

Senior International

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT

INDUSTRY

OWNERSHIP

2013

I brahim Zainal Arif 150

Wholesale and Retail trade

Private Held

In 2011, we set out to provide the Maldives with fast moving consumer goods. Thus, began a decade-old operation of importing, marketing and distribution of a wide range of products from food items to hygiene products - with many others in between. Today, Lotus Fihaara has become a household name where customers can get their staples, snacks and more at one stop. With “good quality at affordable prices,” as our core principle, we maximize our efforts to ensure that every item we sell is not only affordable to the average consumer but also of the highest quality at each price point. We evolve and adapt to the everchanging preferences of the market.

PRODUCTS & SERVICES:

We believe in enjoying what we eat, as the need for consumption goes beyond meeting our dietary requirements and this continues to fuel our drive to keep up with the evolving preference in customers.The drive is signified by popular household names such as Samyang Ramen, Biscolata Mood, Antabax and Elvan Today’s. Today, we have the name Etra Living, dedicated to high quality household items that not only take aesthetics into account but also are also designed with purpose in mind.

SILVER SANDS PRIVATE LIMITED +960 334 2737 info@silversands.com.mv www.silversandsdiving.com

Silver Sands

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

SUBSIDIARIES

Hussain Thoufeeq Ali 2000 500+ Diving and water sports activities

Private Held

Sea Gear, Pure Shores, Evo Surface, Sandy Crystals, Silver Sands Boat Yard, Sovereign Agencies, Silver Sands Travel, Evo Solutions, Evo Flooring, Evo Home, Vavathi Farming

Silver Sands PVT. LTD. has been an inbound travel business since its inception in 2000. In 2005 it ventured into resort-based recreational activities, including diving, fishing and all excursions and water sports centers. Currently Silver Sands is operating in W Retreat & Spa Maldives, Anantara Dhigu, Anantara Veli, Naladhu Maldives, Huvafen Fushi, Velassaru Maldives, Robinson Club Maldives, Anantara Kihavah, Niyama Maldives, St. Regis Vommuli Maldives, Robinson Club Noonu, Vakkaru Maldives and Westin Maldives Miriandhoo Resort. In 2013, the company diversified into trading and has opened showrooms in Male’. This concept where Silver Sands operates all water-based activities was welcomed by the said resorts as it freed the resorts of all investments, operational and maintenance issues connected with this equipment.

PRODUCTS & SERVICES:

Evo Home, Evo Solutions, Evo Flooring and Evo Surfaces provide onestop solutions for all the needs for residential purposes and for the resorts, ranging from F&B products, cutleries, crockeries, bathroom fittings, furniture (both outdoor and indoor), flooring and stone products, which are customized to individual needs. Sea Gear offers full range of marine related equipment. Silver Sands boat yard produces multi-purpose dhonis, glass bottom boats and parasailing boats. We also manage an integrated fisheries and farming project in N. Vavathi

SIRIUS ENTERPRISES PVT LTD +960 332 0788 sirius@dhivehinet.net.mv www.sirius.com.mv

Sirius Enterprises

CEO / MANAGING DIRECTOR YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

Ahmed Naseem 2006 150 Other

Private Held

Sirius Enterprises Pvt Ltd is the leading company in the automobiles industry in the Maldives ever since its establishment in the year 1993. We are specialized in the import of used and brand new cars from Japan which are being repaired and serviced at our garage, Sirius Automotive Workshop. In addition to cars, we import spare parts which are being sold in four shops. We are also the exclusive distributor of Valvoline Engine and Motor Oils, Authorized Distributor of Yokohama Batteries, Bando belts and Apollo and Nankang Tires. Furthermore, we are among the leading companies in providing speedboat services throughout the Maldives.

PRODUCTS & SERVICES:

We are specialized in importing used and damaged cars from Japan, which is repaired and serviced at our garage, Sirius Automotive Workshop by our highly trained team. Furthermore, we are also the authorized distributor of Valvoline Engine oils, Yokohama Batteries, Bando Belts and Nankang and Apollo Tires. These are available from our 4 shops: Sirius 1, Sirius 2, Sirius 3 and Sirius 6. We are also one of the leading companies providing speedboat services throughout Maldives.

SJ CONSTRUCTION PVT LTD +960 330 0665 admin@sjconstruction.mv www.sjconstruction.mv

SJ Construction

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

SUBSIDIARIES

Mohamed Shahid 1996

325 Construction

Private Held

SJ Trade Pvt Ltd, SJ Mall Pvt Ltd

SJ Group started with SJ Construction company as a general works contractor in 1996. Over the years, the company widened the scope through undertaking numerous challenging projects. Accumulated skills and experiences in building solutions and related engineering works. With the expansion, the company introduced SJ Trade as a sister company in 2017, under which SJ Hardware and SJ Aluminum are operated. With the success of our retail business, we are launching SJ Mall in connection with online store, allowing customers from all over the country to browse and buy all of the things in our Shopping Mall. SJ Mall, Hulhumale

PRODUCTS & SERVICES:

The building has 6 floors and rooftop restaurant. Ground floor to second floor is for shopping Mall general stores (Grocery area, Home appliances and Electronics, Furniture). All shopping areas are connected inside as one store. We are in process to make arrangements with the local businesses/authorised distributors of different products, which will also help us to achieve the aim of full fledge shopping mall, where customers will be able to get access to wide range of products.

SONEE HARDWARE PVT. LTD. +960 333 6699 info@sonee.com.mv www.sonee.com.mv

Sonee Hardware

CEO / MANAGING DIRECTOR

YEAR

STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

SUBSIDIARIES

Moosa Kaleem 1970 259 Wholesale and Retail Trade

100% Local (Private Held)

Sonee Hardware, Sonee Fishing, Sonee Home, Fortsen

Since its inception during the 1970’s, Sonee Hardware has been about its employees, the customers and in general, the society. Through a value-added approach, we aim to be “YOUR FAVOURITE HARDWARE STORE” by providing a service of superior excellence. Our success depends on quality, consistency and reliability delivered on these three core areas (employees, customers and society). Being one of the largest hardware businesses in the market today, Sonee Hardware has built a reputation among its loyal customers with a strong drive for reaching the customers’ expectations. Sonee Hardware now has a total of 6 outlets in which the company has diversified into various different areas of businesses.

PRODUCTS & SERVICES:

Founded in 1970, Sonee Hardware is a true leader in the hardware market dedicated to providing the best buying experience to individuals as well as small, medium and large enterprises in the Maldives. Sonee Hardware is not only focused on retailing, but also we are very confident in offering competitive prices for dealers, traders, and also for projects. Products range from hardware tools, household & kitchen wares, to fishing products.

SONEE SPORTS PVT LTD +960 333 5995 info@soneesports.com.mv soneesports.com

Sonee Sports

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT

INDUSTRY

OWNERSHIP

SUBSIDIARIES

Ahmed Kaleem

2007 53 Other

Private Held

Sonee Sports Sonee Sports Fashion Mango Maldives Miniso Maldives

Since 1991 SONEE SPORTS has championed its growth from a small corner shop dealing with sports merchandise to a leading business spanning to various lines of related businesses including sports performance, lifestyle, fashion, sea and surf to fitness equipment selling, In its 30 years of existence, SONEE SPORTS has managed and established over 30 international leading brands in the Maldives. With a staff base of 60 dedicated employees, Sonee Sports services its retail as well as wholesale customers from a total floor space of more than 18,000 square feet. Out intimate understanding of the local consumer markets, customer relationships and retail experience topped up with sales and marketing expertise has been rewarded with unquestioned market leadership in sports and fashion.

PRODUCTS & SERVICES:

Sports merchandise to a leading business spanning to various lines of related businesses including sports performance, lifestyle, fashion, sea and surf to fitness equipment selling. While close to a third of a century, Sonee Sports is still marching forward in its core purpose: Leading brands, exceptional service, unparalleled customer support and operational excellence to create the highest value for our customers, employees, suppliers and shareholders.

Souvenir Marine

CEO / MANAGING DIRECTOR

YEAR STARTED

EMPLOYMENT

INDUSTRY

Amjad Ismail 1994 136 Other

SOUVENIR MARINE PVT LTD +960 332 5893 ask@souvenirmarine.com www.souvenirmarine.com

OWNERSHIP

Private Held SUBSIDIARIES

Souvenir Marine Boatyard

Originally established in 1994 with few tourist gift shops in Male’, Souvenir Marine Pvt. Ltd. was formed in 2004. In order to facilitate the diversification of the business into the high speed sea transportation with the expansion of tourist gift shops. Today with 35 speed boats transferring the majority of tourists mainly from Ibrahim Nasir International Airport and many more Domestic Airports across Maldives to resorts adhering to brand needs and consistent quality services. We offer clients with reliable service on time and through out the year, at any time of the day with the most experienced boat captains and friendly crew navigating across Maldives.

PRODUCTS & SERVICES:

We are experts in the sectors of; Speed Boat Transportation Speed Boat Manufacturing, Repair & Maintenance We have established as the leading operator of sea transportation services in the Maldives with 35 Speed Boats and 4 Yachts. Souvenir Marine Boatyard Our in-house marine boatyard based at Thilafushi is always on standby in case of an emergency. Maintenance of the engines as well as the safety measures are checked on a regular basis.

STATE ELECTRIC COMPANY LIMITED +960 332 0982 marketing@stelco.com.mv www.stelco.com.mv

State Electric Company Limited

MANAGING DIRECTOR

YEAR STARTED

EMPLOYMENT INDUSTRY

Ahmed Shareef 1949 1144 Other

OWNERSHIP 100% Local

State Electric Company Limited (STELCO) is a 100% State Owned Enterprise (SOE). The company started its operations in the year 1949 with the sole purpose of providing electricity in the Maldives. Even today, STELCO’s main business consist of power generation and distribution of electricity. Throughout the years the company’s operations have expanded, resulting in the company becoming a fully-fledged basic utilities company with the addition of water, waste & sewerage networks to the company’s operations. Currently, STELCO operates 35 powerhouses and 6 water and sewerage networks in the Greater Male Region and majority islands of Kaafu, Alif Alif, Alif Dhaal and Vaavu Atoll.

PRODUCTS & SERVICES:

STELCO provides electricity services to Kaafu, Alif Alif, Alif Dhaal and Vaavu Atoll.STELCO also operates Water and Sewerage networks in 11 islands. In addition to utility services,STELCO’s product portfolio include STELCO Sales Centre which retails electrical equipment and peripherals,STELCO Solar Centre which provides sustainable renewable energy solutions.STELCO MaaTV, one of the largest LED screens in Maldives that run advertisements and public service announcement and the newly launched STELCO Service Centre which provides state of the art electrical and engineering solutions.

STATE TRADING ORGANIZATION PLC 1422 info@sto.mv www.sto.mv

State Trading Organization

MANAGING DIRECTOR

YEAR STARTED

EMPLOYMENT INDUSTRY

Husen Amru Mohamed Rashad 1964 2000+ Wholesale and Retail Trade

OWNERSHIP 100% Local

SUBSIDIARIES

Allied Insurance Company Maldives Pvt Ltd, Fuel Supplies Maldives Pvt Ltd, Maldive Gas Pvt Ltd, Maldives National Oil Company Ltd, Maldives Structural Products Pvt Ltd, Maldives Industrial Fisheries Company Ltd, Raysut Maldives Cement Pvt Ltd, Maldives State Shipping Company Pvt Ltd, STO Maldives (Singapore) Private Limited, Maldives State Shipping

The roots of State Trading Organization PLC, dates back to 1964 as it was opened to finance the purchasing and importation of essential food items needed for the Maldivian community in bulk. The key mission of establishing the organization was to strengthen national food security. Up until today, STO has sustained this crucial responsibility to oversee the food security concerns of the government. State Trading Organization PLC with its subsidiaries, joint ventures and associates is a nation wide leader in the business sector focusing on petroleum, construction materials, electronic items, cooking gas, home appliances, super markets and insurance. The company is geographically diverse, with operations and developments in Maldives and Singapore. Vision: Enriching lives through expansion and accessibility.

PRODUCTS & SERVICES:

Staple foods, Stores, Fuel and Gas, Construction Materials, Electronics, Paints, Cement, Gadgets, Roofing sheets, Roofing accessories, wholesale, Retail, Pharmacies, Insurance, Service Centre, Import and Export, Shipping, Oil Trade Expansion, Fisheries, Logistics and Distribution. The company is geographically diverse with operations and developments throughout Maldives and operations in Singapore.

SUN FRONT PVT LTD +960 331 3313 adminhr@sunfront.com.mv www.sunfront.com.mv

Sun Front

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP SUBSIDIARIES

Mohamed Rashad Adam 1989 200

Wholesale And Retail Trade

Private Held (Local)

Scope Company Pvt Ltd

Sun Front Private Limited is a 100% local company registered in the Maldives on the 2nd of July 1989 with two shareholders. Sun Front’s business journey started with providing sea transportation services between the Capital City (Male’) and the Islands. Within a few short years, Sun Front had entered the trading business. To enhance its business in more areas, Sun Front’s shareholders registered Scope Company Private Limited, which is managed by Sun Front, since 26th of April 1999. The businesses are operated in the Capital City (Male’) and today, Sun Front has become a well-known local brand and a stockiest, wholesaler, and retailer. In July 2022 Sun Front Pvt Ltd had rebranded and launched a new logo.

PRODUCTS & SERVICES:

Sun Front’s business journey started with providing sea transportation services between the Capital City (Male’) and other islands. The company now specializes in: lighting, finishing & fixtures, furniture, kitchen solutions & customized furniture, build ware, bikes, sea transportation, real estate developments, and financing. The business outlets, showrooms, and product delivery services are operated in the prime locations of Male’ and Hulhumale, while the main warehouses are located in Thilafushi (the industrial island nearest to Male’) and Hulhumale’.

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

Symphony Maldives

CEO / MANAGING DIRECTOR

YEAR

STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

SUBSIDIARIES

Riffath Waleed 100+ 150 Food Service Activities

100% Local (Private Held)

Crystal Sands Crystal Sands Villa Symphonic Garden Symphony Lagoon Symphony Restaurant MNDF Cater Airport VIP Lounge Catering

The vision of Symphony Maldives is in the hands of experienced professionals with outstanding records in the food and catering industry. Founded in 1992, Symphony Maldives specializes in restaurant and catering business with operations within Capital Male’ and Laamu Atoll. The core businesses of Symphony Maldives Pvt.Ltd are restaurant and catering. Our first establishment was Symphony Restaurant located at the heart of Male’. We started off from a humble inception with 6 dining tables, one chef and two kitchen helpers. In time, our expertise in serving delicious variations of dishes with professional and personal service helped build our reputation by word of mouth establishing Symphony Restaurant as one of the most popular restaurants in the country.

PRODUCTS &

SERVICES:

Our team of esteemed staffs are selected to expertise in providing quality services. Our company owns and operates restaurants and manages catering projects for different projects. our restaurants offer fusion dishes to continental and Asian delicacies. we provide personalized services according to customer needs in events and parties. in addition to operating restaurants, we also provide different styles of catering, ranging from exclusive party catering, airline crew meal packing and catering for international sector flights.

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

The Hawks

CEO / MANAGING DIRECTOR

YEAR STARTED

EMPLOYMENT

INDUSTRY

OWNERSHIP SUBSIDIARIES

Hussain Aman

2007 445 Wholesale and retail trade

100% Local (Private Held)

Mafhaa Diagnostic Centre

With more than 15 years of experience in the area of fuel supply and an exceptional attention to the needs of our clientele, we have developed an extensive, innovative product portfolio. Our role in the fuel supply industry remains to inspire our business partners and become their first choice through our excellent customer service, timely delivery and certified product line. We aim to maintain the highest standards for all of our products, challenging the status quo by offering original solutions to enhance our clients’ business on both a national and global scale. We operate across the Maldives using strategically dispersed hubs for full & convenient supply coverage across the country

PRODUCTS & SERVICES:

We are an ambitious fuel supplier in the Maldives with a pioneering Fuel Terminal accommodating a total of 6 tanks on Thilafushi island. The new fuel terminal has a fuel capacity of 30,000CBM at all times to meet the increasing demand of fuel in the island nation. Our services are fuel supply, fuel terminal, bunkering service, ferry services, boat yard services, transport service, boutique hotels, construction, lathe workshop, medical services, FMCG

TRANS MALDIVIAN AIRWAYS +960 3315201 marketing@transmaldivian.com www.transmaldivian.com

Trans Maldivian Airways

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

A.U.M. Fawzy 1989 1000 Aviation

Private Held

Trans Maldivian Airways is the Leading Tourist Transport Provider in the Maldives and the World’s Largest Seaplane Operator with a fleet of 59 DHC-6 DeHavilland Twin Otters. TMA has pioneered point-to-point connectivity with the introduction of seaplane services, and has played a pivotal role in ensuring that tourism is taken beyond Male’ atoll, which in turn has led to massive economic development across the country.

From its humble beginnings with 2 aircraft and 4 passengers to now transferring close to a million passengers to over 80 resort destinations in the Maldives, TMA has grown to become one of the largest companies in the Maldives, a key contributor to tourism infrastructure and the backbone of the industry in the country.

PRODUCTS & SERVICES:

TMA provides scenic seaplane flights that connect tourists straight to the doorstep of their resorts, where the journey is every much part of the experience as the destination itself. Guests can hire a seaplane for a stunning 15-30 minute photo flight over one of the world’s most picturesque nations, or hire a private charter for a touch of privacy, exclusivity and the chance to travel like a true VIP. Full-day and halfday excursions to uninhabited islands are also available upon request

TTS GROUP MALDIVES PVT LTD +960 301 1888 info@ttsgroup.com www.ttsgroupmaldives.com

TTS Group Maldives

CEO

/ MANAGING DIRECTOR

Mohamed Nabeel

2013 77

INDUSTRY

OWNERSHIP

YEAR STARTED EMPLOYMENT SUBSIDIARIES

Logistics

Private Held

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

Total Transport Solutions Group Maldives (TTSG Maldives) is one of the largest end-to-end logistics services providers in the Maldives, serving for over 25 years. TTSG has four subsidiaries representing renowned Global Brands in Shipping and Logistics. At present, TTSG constitutes over 65% of the container throughput handled at Maldives Ports Limited and hold a market of 28% of the inbound courier volumes in Maldives. Likewise, TTSG is privileged to be associated with Networks specialising in Project Cargo Handling, Relocations and Removals as exclusive representatives in Maldives. The Group have shown significant growth since its inception and attributes its success to the highly skilled and dedicated team personnel who work round the clock in keeping our customers delighted at all times.

PRODUCTS & SERVICES:

Liner and Feeder Services, Air Express Freight, International Freight Forwarding, Project Logistics & Logistics Support, Relocation, Removal & Mice, Bunkering, Inter-Atoll Transportation, Marine Offshore Logistics & Sea Marshalling, Service for Cruise Lines, Supper Yachts & Naval Ships, Aviation Supply Service & Airline General Services, Ship Agency & Vessel Husbanding Services, Marine and Cargo Survey

UNIVERSAL ENTERPRISES +960 332 3080 reservations@universalresorts.com www.universalresorts.com

Universal Enterprises

CEO / MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

Ahmed Umar Maniku

1978 4500 Tourist Resorts

100% Local (Private Held)

Universal Enterprises is the pioneering force that transformed the Maldives from obscurity into one of the world’s most sought-after travel destinations, while actively diversifying across industries and service sectors. In the 1960s, an international development survey claimed the Maldives unsuitable for tourism. Few would have disagreed: the pristine archipelago was indisputably breathtaking, but with little national infrastructure to speak of. Nonetheless, a handful of like-minded entrepreneurs believed otherwise They could not have predicted the extent to which the Maldives would grow as a tourist magnet, but their bold initiative jump-started the development path that has placed the island nation on the map as one of the most desired travel destinations in the world.

PRODUCTS & SERVICES:

Born as a travel specialist, powered by a strong entrepreneurial spirit. As a small band of entrepreneurs, we piloted tourism in the Maldives in 1972, hosting the first-ever organized group tour to the islands and building its first resorts in the following month. Flash forward 35 years; from a group of localized travel specialist to a diversified conglomerate employing close to 4000 individuals.

VILLA SHIPPING AND TRADING COMPANY PVT LTD +960 332 0356 info@villahotels.com.mv www.villa.mv

Villa Shipping and Trading Company

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP SUBSIDIARIES

Ibrahim Siyad Qasim

1986 5000+ Tourist Resorts

100% Local (Private Held)

Villa Shipping and Trading ,Villa Hotels & Resorts, Villa Hakatha Villa Trading, Villa Air, Villa Educational Services, Horizon Fisheries, Villa Travels, Villa Utilities, Villa Biomedicals

Villa Group (Villa) was founded in 1986 by Chairman Qasim Ibrahim. A family-owned business currently in the second generation of business ownership, with over 5000 employees, today Villa is a large private conglomerate of companies working across diverse industries with the finest and most competitive corporate infrastructure in the Maldives. Villa’s core values of Humility, Optimism, Value, Family, and Trust are the central, underlying philosophies that guide the brand and its employees. Villa is recognized as one of the leading innovators for pushing limits in the Maldives. Villa’s most outstanding achievements are considered as its philanthropic contributions to the Maldivian community. Under the Villa Foundation initiative, Villa has sponsored healthcare, welfare, public infrastructure development, and over 4,600 Maldivians Scholars.

PRODUCTS & SERVICES:

Villa established the largest solely owned hotel chain in Maldives by 2001. Furthermore, Villa developed the largest storage facility for oil, gas, and cement in Maldives. Villa most recently ventured into the consumer goods wholesale and retail business. Additionally, Villa developed the first privately owned airport in Maldives and started Villa Air in 2011. Villa’s portfolio further expanded through developing tuna processing factories. In 2008, the group established Villa College, a tertiary education facility that delivers quality education nationwide to empower youth to seek economic opportunities.

VILLA TRAVELS & TOURS PVT LTD +960 333 0088 asst.mgr@villatravels.com www.villatravels.com

Villa Travels and Tours

CEO

/ MANAGING DIRECTOR

YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP SUBSIDIARIES

Ali Ibrahim 1998 50

Travel agent

100% Local (Private Held)

Island Financial Service PVT LTD VTT Finance PVT LTD

Villa Travels & Tours Pvt Ltd, a company registered in the Maldives in 1998, offers travel-related services engaged in airline representation/ supervision, ground handling services, Air Transport Sales Agency for Passengers & Cargo, and inbound & outbound travel services. Villa Travels is the principal agent for Western Union Money Transfer services and Visa/Master credit card acquiring services of Hatton National Bank of Sri Lanka. The services are provided to the domestic and international markets as well. The primary target market of the company includes local/ international passengers, expatriates, resorts, safari boats, travel agencies, cargo shippers, ground handling of scheduled flights, ad-hoc charter flights, and ad-hoc jet handling

PRODUCTS & SERVICES:

The company represents the following airlines: General Sales Agent for Malaysia Airlines and China Southern, and the Passenger Sales Agent for Air India, Sri Lankan Airlines, Maldivian, Qatar Airways, China Eastern, Fly Dubai, Indigo, Gulf Air, US-Bangla Airlines, Fits Air, and Flyme. Other products and services include Principal Agent for Western Union Money Transfer Services and Principal Agent for Visa/Master credit card acquiring services of Hatton National Bank of Sri Lanka.

VOYAGES MALDIVES PVT LTD +960 332 2019 info@voyagesmaldives.com www.voyagesmaldives.com

Voyages Maldives

CEO / MANAGING DIRECTOR YEAR STARTED EMPLOYMENT INDUSTRY

OWNERSHIP

Salah Shihab 1980 90 Travel Agent

100% Local (Private Held)

Voyages Maldives is your one stop shop for all your travel needs to the Maldives, whether you are a Tour Operator, Airline Operator or an individual traveler visiting the Maldives. Although specializing in ‘Dhoni’ Safari programs, which include Cruising, Diving and Surfing Safaris, Voyages Maldives also provides Ground Handling services to Tour Operators, Supervision & Representation for airlines and travel solutions to/from anywhere in the world. We have a highly qualified team working very closely with all the resorts in the Maldives to provide you with the best tour option here in the Maldives. The preferred way of experiencing the most beautiful islands in the world – the Maldives is certainly in the care of Voyages Maldives.

PRODUCTS & SERVICES:

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