MTCC held 2021 Annual General Meeting

Maldives Transport and Contracting Company (MTCC) held its Annual General Meeting (AGM) 2021 on May 19, 2022 at Kurumba Maldives via MSD “Fahivote”. 

It has been passed to distribute MVR 3.50 per share as dividend to its shareholders during the AGM. It was passed with 396 shareholders votes. And 257 shareholders voted against. A total of 556 shareholders participated, representing a total of 5,629,805 shares.

Mohamed Imran Adnan and Nasrath Mohamed have been elected to the Board of Directors for another term on behalf of public shareholders. Imran received 496 votes while Nasrath received 662 votes. Abdulla Saeed received 188 votes. Imran previously served as the Board Director of the company from 2014 to 2017. Nasrath served in the post from 2013 to 2019. Moreover, PrizewaterhouseCoopers was elected as an auditor for MTCC for this year.

According to the company’s annual report for 2021, the company generated an income of MVR 1.95 billion last year. This is an increase of 44% compared to the previous year.  And the company made a net profit of MVR 232 million last year. This is an increase of 21% compared to the previous year.

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Ibrahim Yaafiu

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