MTCC’s Annual General Meeting 2021 Wraps Up

Taken place at Kurumba Maldives, Maldives Transport & Contracting Company successfully carries out their Annual General Meeting for the year 2021 through FahiVote application. With a total of 556 shareholders, they represented over MVR 5 million in shares.
 
At the ceremony, the directors that represented the government were Chairperson (Non-executive Director) Mohamed Faheem, Chief Executive Officer (Executive Director) Adam Azim, Chief Operating Officer (Executive Director) Shahid Hussein Moosa, Non-executive Director Sinaan Ali and Non-executive Director Mohamed Fareed. Public Shareholders include Non-executive Director Mohamed Imran Adnan and Non-executive Director Nasrath Mohamed.

 
Furthermore, MVR 3.50 per share (Face value of MVR 5) as dividend for 2021 was also approved by MTCC during this event, making it the highest dividend declared in the history of MTCC! PricewaterhouseCoopers was also appointed as the company’s auditor for 2022.
 
According to MTCC's 2021 annual report, the company generated MVR 1.95 billion in revenue, a 44 percent increase over the previous year. In addition, the company earned MVR 232 million in profit, marking the best financial performance in its 41-year history and a 21% increase over 2020.