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.


Proportion of Share
# Name Category GOM Private sector
1 Bank of Maldives Plc Majority 50.80% 33.73% Public, 4.07% MTCC, 7.33% Govt. Emp. PF, 4.07% Rayyithunge Account
2 Dhivehi Raajjeyge Gulhun Plc Minority 41.80% 52.0% Batelco, 6.20% Public
3 Housing Development Finance Corporation Plc Majority 49% ADB 18% , IFC 18%, HDFC India 15%
4 Housing Development Corporation Limited Majority 100% NIL
5 Island Aviation Services Limited Majority 100% NIL
6 Maldives Airports Company Limited Majority 100% NIL
7 Maldives Ports Limited 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 Private Limited Majority 80% Hitachi 20%
11 State Electric Company Limited Majority 100% NIL
12 State Trading Organization Plc Majority 81.63% 18.37% Public
13 Greater Male' Industrial Zone Limited Majority 100% NIL
14 Maldives Marketing and Public Relations Corporation Limited Majority 100% NIL
15 Maldives Islamic Bank Plc Minority 28% 36% ICD, 5% Amaana Takaful, 31% Public
16 Addu International Airport Private Limited Majority 50% 10% MACL, 10% STO, 30% KASA
17 Aasandha Company Limited Majority 100% NIL
18 Kadhdhoo Airport Company Limited Majority 100% NIL
19 Fenaka Corporation Limited Majority 100% NIL
20 Maldives Hajj Corporation Limited Majority 100% NIL
21 Maldives Centre for Islamic Finance Limited Majority 100% NIL
22 Maldives Sports Corporation Limited Majority 100% NIL
23 Maldives Integrated Tourism Development Corporation Limited Majority 100% NIL
24 Waste Management Corporation Limited Majority 100% NIL
25 Business Center Corporation Limited Majority 100% NIL
26 Public Service Media Majority 100% NIL
27 SME Development Finance Corporation Private Limited  Majority 85% Male City Council 5% , Addu City Council 5% , Fuvahmulah City Council 5% 
28 Fahi Dhiriulhun Corporation Limited Majority 100% NIL
29 Maldives Fund Management Corporation Limited  Majority 100% NIL
30 TradeNet Maldives Corporation Limited Majority 100% NIL
31 Road Development Corporation Limited Majority 100% NIL

Share this article