- Board of Directors
- Board Committees
- Our Team
- Major Shareholdings
- Financial Statements & Highlights
- Memorandum of Association
- Articles of Association
- Corporate Governance
- Annual General Meeting 2017
- Annual General Meeting 2018
- Annual General Meeting 2019
- Extraordinary General Meeting 2019
- Annual General Meeting 2020
- Press Release
Ooredoo Maldives provides a wide range of innovative voice, data, broadband, content and enterprise services tailored to the growing needs of today’s consumers and businesses. Guided by its vision of enriching people’s lives and its belief that it can stimulate human growth by leveraging communications to help people achieve their full potential, the Company has transformed the communications industry for the people of the Maldives.
The Company launched its operations in the Maldives on August 01, 2005 as Wataniya Telecom Maldives Private Limited, a subsidiary of National Mobile Telecommunications Company K.S.C.P (“NMTC”). The Company is the second licensee to be issued with a mobile telecommunications service provider license in the Maldives. As part of the rebranding strategy carried out by the Ooredoo Group, the Company changed its name to Ooredoo Maldives Private Limited on December 22, 2013. The Company changed its legal status to that of a public limited company on October 06, 2016 and was accordingly re-registered as Ooredoo Maldives Public Limited Company. Our majority shareholder is Wataniya International FZ-LLC holding 90.5% of the issued shares of the Company and the remaining 9.5% of the shares are held by the public.
With the aim to open up the opportunities of the digital age to local communities and businesses, the company continues to invest in the most advanced technologies and innovations, providing the first and fastest nationwide 4G+ network in the Maldives. Ooredoo Maldives generated revenues of MVR million 2,038 and a Profit after Tax of MVR 599 million as of 31st December 2019.
We cater to a subscriber base of over 400,000 customers in the Maldives ranging from individuals, small to medium businesses, large corporates and state institutions and continue to achieve robust compound annual growth rates of 6.3% in subscribers and 18.4% in revenue from 2014 to 2019.
We are part of the international telecommunications company Ooredoo, which operates in 10 countries across the Middle East, North Africa and Southeast Asia, serving over 117 million consumers and businesses, delivering the leading data experience through a broad range of content and services via its advanced, data-centric mobile and fixed networks. Ooredoo generated revenues of USD 9 billion as of 31st December 2019. Its shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.
Composition of the Board
As required by the Corporate Governance Code of the Maldives ("CG Code"), the Board of Directors of Ooredoo Maldives comprises of a mix of Executive, Non-Executive and Independent Directors, with a majority of Non-Executive Directors being Independent Directors and one of the two Executive Directors being the CEO.
Ooredoo Maldives Board consists of a total of 8 Directors out of whom 6 are Independent, Non-Executive Directors and 2 are Executive Directors.
Mr. Najib Khan is the Chief Executive Officer (“CEO”) of Ooredoo Maldives, since April 2017 and is a Non-Independent, Executive Director. He is also the Managing Director of the Company effective from 3rd March 2019.
Mr. Khan took over the leadership of the Company’s management team during its successful IPO launch. His tenure has seen acceleration in the Digitalization of the market and Ooredoo Maldives. Under his leadership the Company
has pioneered digital access for consumers through many path breaking digital apps like Magey Plan, AI based BOT,
enrichment of Ooredoo App and Business Apps for Digitalization of resorts. In an era of Digital economy, the m-Faisaa app for utility payments and democratization of broadband service through Faseyha Home Broadband has provided access to a digital lifestyle for homes and businesses.
He joined the Ooredoo Group in November 2014 as a Senior Director in the Commercial Division. He has experience of nearly 26 years in the telecoms sector including his role as a CXO for about 9 years in various departments of Bharti Airtel Limited in India. Mr. Khan has significant experience in managing B2B, Wholesale and B2C commercial activities with an impressive skill set spanning operations, product P&L management and business development.
Mr. Khan has a Bachelor of Science in Industrial Electronics Engineering from Mumbai University.
Mr. Suresh Kalpathi Chidambaram is the Chief Financial Officer of Ooredoo Maldives and is a Non-Independent, Executive Director, effective from 17th September 2019.
Mr. Chidambaram has over 30 years of finance experience in various industries including manufacturing, retail and telecommunications. He joined the Ooredoo Group in 2008 and held the position of Senior Director, Investment Management until 2013. He was also the Chief Financial Officer at Ooredoo Global Services prior to his current role as CFO of Ooredoo Maldives. He has tremendous experience in financial operations and business planning.
Mr. Chidambaram holds a Master of Management Studies from Birla Institute of Science and Technology (B.I.T.S Pilani) and he is a member of the Institute of the Chartered Accountants of India.
Mr. M. S. Tanwar has served as the Chief Technology Officer of Ooredoo Maldives since July 2016 onwards.
Prior to joining Ooredoo Maldives, he worked with Ericsson, Nokia and Tata in India, Africa and Europe serving large telecommunications companies such as Airtel India, Airtel Africa, H3 Ireland, Open Eir Ireland and Vodafone India. With over 27
years of experience in telecommunications services, he possesses vast knowledge and rich experience in R&D, network engineering, projects, operations and business development.
Mr. Tanwar holds a Bachelor’s Degree in Electronics and Communications Engineering and a Master’s in Business Administration in Operations Management. He has also completed post-graduate education in Marketing Management. He successfully completed the Leadership Development Program from the Indian School of Business, Lead Auditor of Quality Systems from Cranfield University, UK and an Executive Leadership Program from PDI Sweden.
Mr. Hussain Niyaz joined Ooredoo Maldives in April 2005, and currently serves as the Acting Chief Commercial Officer.
Mr. Niyaz has nearly 14 years of experience in the telecommunications sector. He began his journey with Ooredoo Maldives as an RNE Technician, progressing onto senior roles such as Manager - Network Planning and Optimization, Head of Networks, Head of Sales, Director Sales & Distribution, and Acting Chief Commercial Officer.
Prior to joining Ooredoo Maldives, Mr. Niyaz worked for 12 years at the Maldives National Defence Force in the Communication, Electronics and IT Department.
Mr. Niyaz holds an Executive Masters in Telecom Management and in addition has completed training on Electronics and Communications at Fort Gordon - United States Army, Leadership Development Training from Centre for Creative Leadership, Singapore and has completed the Ooredoo Leadership Development Program which was conducted by the Ooredoo Group in partnership with IMD.
Ms. Fazna Mansoor joined Ooredoo Maldives in January, 2005 and currently holds the position of Acting Director Human Resources and Administration
Ms. Mansoor has over 20 years of extensive experience in the field of Human Resources having held key positions such as Senior Manager Human Resources and Head of Organizational Development at Ooredoo Maldives.
Ms. Mansoor holds a Master of Business Administrations (MBA) from Angelia Ruskin University, UK, and is a certified Global Talent Mobility Specialist.
Mr. Shabeen Ali joined Ooredoo Maldives in May 2005, and currently serves as Director Network & IT Planning.
Mr. Shabeen has over 26 years of work experience in the Technology field which includes 13 years in the Telecom sector. He began his journey with Ooredoo Maldives as a technician progressing to senior positions such as Head of Operations, Head of Planning and Operations.
Prior to joining Ooredoo Maldives, Mr. Shabeen worked at the Maldives National Defence Force for 13 years in the Communication, Electronics and IT Department.
Mr. Shabeen holds an Executive Masters in Telecom Management and in addition completed training on Electronics and Communications at Fort Gordon - United States Army, and has completed a Leadership Development Program at CCL, Singapore.
Mr. Prasanna Uchil joined Ooredoo Maldives in September 2017 and currently serves as Director Strategy & PMO.
Mr. Uchil has over 17 years of experience in the telecom space in various capacities, leading teams in a matrix setup overlapping Project Management, Strategy, Business Development & Marketing. He has previously worked at companies such as TATA Communications, Reliance Infocomm and Global Cloud Xchange.
Mr. Uchil holds a Masters’ Degree in Management Studies and a Bachelors of Engineering from Mumbai University.
|Dividend per Share||MVR 2.75 per share||MVR 3.20 per share||MVR 3.22 per share||MVR 3.30 per share|
|Total dividend||MVR 406,451,102.75||MVR 472,961,283.20||MVR 475,917,291.00||MVR 487,741,323.30|
|Profit After Tax||MVR 491,336,000||MVR 580,427,000||MVR 544,772,000||MVR 598,916,000|
Ooredoo Maldives ensures material compliance with the requirements of the Corporate Governance Code developed by the Capital Market Development Authority (CMDA) of Maldives. In addition, the Company is committed to achieve and promote high standards of accountability and corporate conduct. In this regard, the Company follows international best practices and has established corporate governance practices internally to enhance corporate performance.