MTCC will be made a profit-making company: Chairperson

Maldives Transport and Contracting Company (MTCC) which has been making losses year after year, will become a profit-making company soon, its Chairperson Igbal Adam has assured.

Igbal made this remark while speaking at MTCC’s Annual General Meeting (AGM) 2013 held at Nasandhura Palace Hotel last night (Thursday night).

He said that the company’s present portfolio consists of four broad areas, but efforts are ongoing to expand and enter new markets.

CEO of MTCC Ahmed Shiham Ali said that the company’s first quarter statements already show that its position is improving, and work is ongoing to review a business plan to enter new markets.

At last night’s meeting, the company announced that MVR 16 per share will be distributed as dividend for 2013, and appointed Mohamed Imran and Fathulla Ismail as directors representing shareholders.