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Ooredoo Maldives Investors - Financial Reports and Investor Information

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Access comprehensive financial information, annual reports, and investor updates from Ooredoo Maldives. Stay informed about our performance and growth.

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Ooredoo is a leading international telecommunications company delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses across markets in the Middle East, North Africa and South-East Asia.

WHO WE ARE

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Ooredoo Maldives provides an innovative range of 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, Ooredoo Maldives has transformed the digital lives of communities across 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 6th October 6, 2016 and was accordingly re-registered as Ooredoo Maldives Public Limited Company. Our majority shareholder Wataniya International FZ-LLC holds 90.5% and the Maldives Pension Administration office holds 5.64% of the issued shares of the Company, while the remaining 3.86% of the shares are held by other public shareholders. 

The Company is driven by its vision of enriching people’s lives through telecommunications and technology to help people achieve their full potential. We cater to customers across Maldives including small to medium businesses, large corporates and state institutions, providing a wide range of innovative voice, data, broadband, content, enterprise and e-commerce services tailored to the growing needs of today’s consumers and businesses. By the end of 2022, our subscriber base was 387,000.

Since the beginning of the Company’s establishment in the Maldives, we have continued to remain at the helm of revolutionary changes in the development of the telecommunications industry in the Maldives by introducing leading edge technologies and innovative solutions. We were the first operator to launch the first ever and fastest 3G, 4G Networks and 5G Home Broadband services in the Maldives. We remain committed to enrich the lives of Maldivians by providing them with the latest advancements of the telecommunications industry. Ooredoo Maldives generated revenues of MVR 1,924 million and a Profit after Tax of MVR 560 million as of 31st December 2022.

Ooredoo Maldives is a member of Ooredoo Group, a leading international communications company delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses across markets in the Middle East, North Africa and Southeast Asia. Launched in August 2005 as Wataniya Telecom Maldives Private Limited, it revolutionized the local telecommunication industry through the introduction of world-class network technologies and innovative solutions to help people enjoy the internet.

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To provide world class, innovative communication products and services to the people of, and visitors to the Maldives.

Our Mission

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Enriching people’s lives as a leading international communications company.

Our Vision

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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.

CORPORATE GOVERNANCE

Major Shareholding of Ooredoo Maldives Plc as of today.

MAJOR SHAREHOLDINGS

WATANIYA INTERNATIONAL FZ-LLC

MALDIVES PENSION ADMINISTRATION OFFICE

OTHER SHAREHOLDERS

TOTAL SHAREHOLDING OF THE COMPANY

Ooredoo Maldives Board consists of a total 8 Directors out of whom 5 are Independent, Non-Executive Directors, 1 is a Non-Independent Non-Executive Director and 2 are Executive Directors.

Composition of the Board

Pursuant to the Corporate Governance Code of Maldives (“CG Code”), the Board of Directors of Ooredoo Maldives comprises of a mix of Executive, Non-Executive and Independent Directors, with majority of the Non-Executive Directors being Independent Directors and one of the two Executive Directors being the CEO.

Chairperson/ Independent, Non-Executive Director

Ms. Fatima Sultan Al-Kuwari

Mr. Khalid Hassan M A Al-Hamadi

Mr. George Bowring Challenor

Mr. Vikram Sinha

Ms. Dheena Hussain

Mr. Suresh Kalpathi Chidambaram

Ms. Moza Mohd A Y Darwish

Mr. Mohamed Shahid

The Audit and Risk Management Committee (the “ARC”) of Ooredoo Maldives was established in accordance with the requirements of the Corporate Governance Code (“CG Code issued by the Capital Market Development Authority of the Maldives.

Audit and Risk Management Committee

Composition

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Members

The Nomination and Remuneration Committee (the “NRC”) of Ooredoo Maldives was established in accordance with the requirements of the Corporate Governance Code (“CG Code”) of the Maldives, to undertake all matters under its purview.

Nomination and Remuneration Committee

Our Team

Managing Director & Chief Executive Officer

Executive Director and Chief Financial Officer

Mr. M S Tanwar

Mr. Hussain Niyaz

Mr. Rajesh Mehta

Ms. Fazna Mansoor, Chartered FCIPD

Mr. Shabeen Ali

Mr. Hussain Zareer

Mr. Tushar Dhirwani

Mr. Franklin Estrada Agulto

Our latest financial reports and information

Financial information

2024

2023

2022

2021

2020

2019

2018

2017

2016

Notice & Agenda Items of Annual General Meetings

Annual General Meeting

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Notice & Agenda Items of Extraordinary Annual General Meetings

Extraordinary General Meeting 

Press Release

Ooredoo Maldives to hold an Extraordinary General Meeting (English)

Ooredoo Maldives to hold an Extraordinary General Meeting (Dhivehi)

Ooredoo Maldives achieved healthy growth for Q3 2024

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Ooredoo Maldives achieved strong results for the second quarter of 2024

Conclusion of Annual General Meeting held in 2023

Ooredoo Maldives achieved solid results in Q1 2024

Ooredoo Maldives to hold its AGM on 8th March 2023

Conclusion of Annual General Meeting held in 2024

Ooredoo Maldives to hold its AGM on 7th March 2024 (Dhivehi)

Share Ooredoo Maldives opens invitation to apply for the post of Director on the Board of Directors

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Ooredoo Maldives opens invitation to apply for the post of Director on the Board of Directors

Ooredoo Maldives to hold its AGM on 7th March 2024 (English)

Ooredoo Maldives delivered solid results in Q3 2023

Ooredoo Maldives continued a solid growth trajectory into Q4 2023

Ooredoo Maldives delivered further solid growth in Q2 2023

Ooredoo Maldives achieved robust growth in Q1 2023

Ooredoo Maldives achieved 5% Revenue Growth in Q4 2022

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Ooredoo Maldives achieves 7% revenue growth in Q3 2022

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Establishment of a Domestic Submarine Cable

Ooredoo Maldives reports revenue increase of 10% for Q2 2022

Ooredoo Maldives achieved robust growth in Q1 2022

Conclusion of Annual General Meeting held in 2022

Ooredoo Maldives to hold its AGM on 7th March 2022

Ooredoo Maldives achieved further growth in Q4 2021

Ooredoo Maldives re-opens applications for the post of Director on the Board of Directors

Ooredoo Maldives opens invitation to apply for the Post of Director on the Board of Directors

Ooredoo Maldives achieves robust growth in Q3 2021

Ooredoo Maldives achieves further growth in Q2 2021

Announcement of Q1 2021 Results of Ooredoo Maldives

Ooredoo Maldives successfully concludes its Annual General Meeting held in 2021

Ooredoo Maldives to hold its Annual General Meeting on Tuesday, 2nd March 2021

Announcement of Q4 2020 Results of Ooredoo Maldives

Announcement of Q3 2020 Results of Ooredoo Maldives

Announcement of Q1 and Q2 2020 Results of Ooredoo Maldives

Ooredoo Maldives successfully concludes its Annual General Meeting

Ooredoo Maldives to hold its Annual General Meeting

Establishment of International Fibre Optic Submarine Cable

Ooredoo Maldives achieves further growth in Q4 2019

Ooredoo Maldives Plc extends the deadline to submit applications for the post of Director on the Board of Directors to be elected by the general Shareholders

Ooredoo Maldives Plc opens invitation to apply for the post of Director on the Board Of Directors to be elected by the General Shareholders

Publication of Amended and Approved Memorandum and Articles of Association of Ooredoo Maldives Plc

Ooredoo Maldives successfully concludes the Extraordinary General Meeting

Ooredoo Maldives to hold an Extraordinary General Meeting

Ooredoo Maldives achieves robust growth in Q3 2019

Mr. Suresh Kalpathi Chidambaram appointed as Chief Financial Officer and Executive Director

Ooredoo Maldives achieves robust growth in Q2 2019

Resignation of Chief Financial Officer

Appointment of new Chairman

Ooredoo Maldives achieves strong results in Q1 2019

Appointment of new Managing Director

Conclusion of the Annual General Meeting

Ooredoo Maldives to hold 2019 Annual General Meeting

Distribution of 2017 Dividend

Conclusion of 2018 Annual General Meeting of Ooredoo Maldives Plc

Ooredoo Maldives to hold 2018 Annual General Meeting

Appointment of New Chief Financial Officer & Board Director

Conclusion of 2017 Annual General Meeting of Ooredoo Maldives Plc

2017 Annual General Meeting of Ooredoo Maldives Plc

Announcement of Annual General Meeting 2017

Ooredoo Maldives Plc. IPO - Commencement of Secondary Market Trading

Lodgment of Shares to Maldives Securities Depository

Ooredoo Maldives Plc. concludes the largest and most successful IPO in the Maldives

Allotment of shares for Ooredoo Maldives IPO

Supplement 2 to the Prospectus by Ooredoo Maldives

Supplement to the Prospectus by Ooredoo Maldives

Ooredoo Maldives Announces IPO Launch on 30th April

Ooredoo announces Exclusive Preview of IPO

Ooredoo Maldives prepares for an IPO

Announcement

Record Date/ Book Closure Date for EGM to be held in 2024

Ooredoo Maldives obtains a Loan Facility

Incorporation of a Subsidiary Company

Appointment of a Chief Audit Executive

Publication of 2023 Annual Report

Ooredoo Maldives obtains a Loan facility

Proposed Dividend, Audited Financial Statements and Annual Report For 2023 (Dhivehi)

Proposed Dividend, Audited Financial Statements and Annual Report For 2023 (English)

Record Date / Book Close date for the AGM to be held in 2024

Download Document Appointment of Chief Technology Officer

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Appointment of Chief Technology Officer

Change in Network Affiliation of the External Auditor

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Appointment of a Chief Business Officer

Ooredoo Maldives obtains a loan from HSBC

Publication of 2022 Audited Financial Statements

Ooredoo Maldives invests to develop a Disaster Recovery Site and PEACE Cable Landing Station