Ayada Maldives
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BusinessDismissed HDC Chairman becomes new MTDC Chairman
Ahmed Shaheer has been appointed Chairman of the Maldives Tourism Development Corporation shortly after his dismissal from the HDC. His appointment coincides with a controversial plan to issue new shares and allegations of an undervalued lease sale for Magudhuvaa, which the corporation denies despite a board member's resignation.
BusinessMTDC board member resigns, citing management misconduct
MTDC board member Asami Rushdee has resigned, accusing management of providing misleading information and ignoring board directives. She specifically opposed a proposed rights issue, claiming it harms general shareholders. Her departure follows disputes over the management of Ayada Maldives and transparency regarding share issuance.
