Maldives Transport and Contracting Company (MTCC) has passed to disburse MVR 20 per share and to disburse an additional share per shareholder as bonuses from last year’s profits.
Last year, MTCC declared profits of MVR 81.6 million, which is a bump of MVR 20 million from the profits of the previous year.
The decisions were held in the annual general meeting held last night in Hotel Jen. Additionally, the shareholders also passed to bring in some amendments to the company’s memorandum of association and had included some of amendments proposed by the general shareholders.
Ahmed Aboobakur and Nasrath Mohamed were elected as representatives from the shareholders for the company’s Board.
It was revealed in last night’s meeting that MTCC was to bring in a dredger costing US$ 36 million and develop a dockyard. The company stated that they have been given 250,000 sqft area from Thilafushi to develop the dockyard.
MTCC stated that land for the proposed dockyard was sufficient for such a purpose and that they would be able to develop and open the dockyard within three years. MTCC Chairman Salim had stated the company is to invest MVR 52 million for the dockyard.
The Government had stated that the dredger was of the latest model and make. MTCC has years of experience in land reclamation, sea wall erection and such other projects.
MTCC to disburse MVR 20 per share, additional bonus shares
