Public Enterprises

Privatization and Corporatization Board monitors and evaluates all the majority and minority share holding companies of the Government of Maldives.

Following are the list of state-owned enterprises (SOEs) of the Government of Maldives including the shareholding structure.

# Name Category Proportion of Shareholding
GOM Private sector
1 Bank of Maldives Plc. Majority 50.80% 29.49% Public, 4.25% STO, 4.07% MTCC,7.33% Govt. Emp. PF, 4.07% Rayyithunge Account
2 Dhivehi Raajjeyge Gulhun Plc. Minority 41.80% 52.0% Batelco, Public 5.90%, Dhiraagu Colleague share plan 0.30%
3 Housing Development Finance Corporation Plc. Majority 49% ADB 18% , IFC 18%, HDFC India 15%
4 Housing Development Corporation Ltd. Majority 100% NIL
5 Island Aviation Services Ltd. Majority 100% NIL
6 Maldives Airports Company Ltd. Majority 100% NIL
7 Maldives Ports Ltd. Majority 100% NIL
8 Maldives Tourism Development Corporation Plc Minority 47% 53% public
9 Maldives Transport and Contracting Company Plc Minority 48% 7.5% MNSL,44.7% Public
10 Male' Water and Sewerage Company Pvt. Ltd. Majority 80% Hitachi 20%
11 State Electric Company Ltd. Majority 100% NIL
12 State Trading Organization Plc Majority 81.63% 18.37% Public
13 Greater Male' Industrial Zone Ltd Majority 100% NIL
14 Maldives Marketing and Public Relations Corporation Ltd. Majority 100% NIL
15 Maldives Islamic Bank Private Ltd. Minority 25% 70% ICD, 5% Amaana Takaful
16 Addu International Airport Pvt. Ltd. Majority 50% 10% MACL, 10% STO, 30% KASA
17 Aasandha Company Ltd. Majority 100% NIL
18 Kadhdhoo Airport Company Ltd. Majority 100% NIL
19 Fenaka Corporation Ltd. Majority 100% NIL
20 Maldives Hajj Corporation Ltd. Majority 100% NIL
21 Hazana Maldives Ltd. Majority 100% NIL
22 Maldives Centre for Islamic Finance Ltd. Majority 100% NIL
23 Maldives Sports Corporation Ltd. Majority 100% NIL
24 Maldives Integrated Tourism Development Corporation Ltd. Majority 100% NIL
25 Waste Management Corporation Ltd. Majority 100% NIL
26 Business Center Corporation Ltd. Majority 100% NIL
27 National Investment Management Company Ltd. Majority 100% NIL
Share this article