Ahmet Aydeniz
4 articles
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BusinessMTDC schedules AGM for August 31
The Maldives Tourism Development Corporation will hold its AGM on August 31 to propose a rights issue. The meeting comes amid controversy over the potential sale of the Magudhuvaa lease to a Turkish firm. Shareholders can attend in person or online via FahiVote to discuss the company's future and asset management.
BusinessMTDC approves share issue to facilitate sale of Ayada
MTDC has approved a rights issue to facilitate selling the Ayada Maldives head lease at an undervalued price, potentially causing a $20 million loss. The move allows the government to gain a majority stake if public shareholders decline the new shares. The sale would transfer the lease to the current operator for just $1.5 million.
