Who we are

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 2020, our subscriber base was over 345,000 with Compound Annual Growth Rate (“CAGR”) remaining constant at 0.01% the last 5 years.

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 1,723 million and a Profit after Tax of MVR 407 million as of 31st December 2020.

Ooredoo Maldives is a member of Ooredoo Group, a leading international communications company with operating businesses in 10 countries across 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.


LinkedIn: https://www.linkedin.com/company/ooredoomaldives/

Twitter: https://twitter.com/ooredoomaldives

Facebook: https://facebook.com/ooredoomaldives

Instagram: https://instagram.com/ooredoomaldives

YouTube: https://youtube.com/ooredoomaldives

Website: https://ooredoo.mv


mission

Mission

vision

Vision

Major Shareholdings

Major Shareholding of Ooredoo Maldives Plc as of today.

Wataniya International FZ-LLC 90.5%
133,755,130 Shares
Maldives Pension Administration 5.64%
8,333,330 Shares
Other Shareholders 3.86%
5,711,941 Shares
Total Shareholding of the Company 100%
147,800,401 Shares

Composition of the Board

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. 

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.

Mr. Andrew Tor Oddvar Kvålseth

Mr. Andrew Tor Oddvar Kvålseth

Independent, Non-Executive Director

Mr. Najib Khan

Mr. Najib Khan

Non-Independent, Executive Director

Mr. George Bowring Challenor

Mr. George Bowring Challenor

Independent, Non-Executive Director

Mr. Khalid Hassan M A Al-Hamadi

Mr. Khalid Hassan M A Al-Hamadi

Independent, Non-Executive Director

Uza. Dheena Hussain

Ms. Dheena Hussain

Non-Independent, Non-Executive Director

Mr. Suresh Kalpathi Chidambaram

Mr. Suresh Kalpathi Chidambaram

Non-Independent, Executive Director

Ms. Fareeha Shareef

Ms. Fareeha Shareef

Independent, Non-Executive Director

Mr. Mark Henry Dowds

Mr. Mark Henry Dowds

Independent, Non-Executive Director

Board Committee

Audit and Risk Committee


Composition

The Audit and Risk Committee (“ARC”) of Ooredoo Maldives is established in accordance with the requirements of the Corporate Governance Code (“CG Code”) of the Maldives. The ARC is comprised of 3 members, all of whom are Non-Executive Directors and the majority of whom including the Chairman of the ARC are independent as required by the CG Code.


Mandate

The ARC assists the Board of Directors in fulfilling its statutory obligations and advises them on the adequacy and effectiveness of internal controls, risk management, control and governance processes, ensuring the independence and objectivity of internal and external audit functions and the integrity of the Company’s financial statements.


Members

Mr. George Bowring Challenor

ARC Chairman/ Independent, Non-Executive Director

Mr. Khalid Hassan M A Al-Hamadi

ARC Member/ Independent, Non-Executive Director

Mr. Mark Henry Dowds

ARC Member/ Independent, Non-Executive Director

Ms. Maryam Al-Hamadi

ARC Secretary


Nomination and Remuneration Committee


Composition

The Nomination and Remuneration Committee (the “NRC”) of Ooredoo Maldives is established in accordance with the requirements of the Corporate Governance Code (“CG Code”) of the Maldives. 

The NRC comprises of 3 (three) members appointed for a term of 3 (three) years, the majority of whom are Independent, Non-Executive Directors.

The NRC is mandated with carrying out the functions of both the Nomination Committee and the Remuneration Committee. Based on the scope and expertise required to expedite the responsibilities of both Committees and considering the time and resources required, a combined Committee is considered to be more effective and efficient.


Mandate

The NRC is mandated with:

• Providing recommendations to the Board and to the shareholders on Board appointments after a proper evaluation; 

• Providing recommendations on remuneration packages for the Board and the Chief Executive Officer for approval by the Board; 

• Reviewing policies with respect to remuneration, pension, performance related pay schemes for approval by the Board.  



Members

Mr. Khalid Hassan M A Al-Hamadi

NRC Chairman/ Independent, Non-Executive Director

Ms. Dheena Hussain

NRC Member/ Non-Independent, Non-Executive Director

Mr. Mark Henry Dowds

NRC Member/ Independent, Non-Executive Director

Ms. Arushee Mohamed

NRC Secretary

Our Team

 
Mr. Najib Khan

Mr. Najib Khan

Managing Director & Chief Executive Officer

Mr. Suresh Kalpathi Chidambaram

Mr. Suresh Kalpathi Chidambaram

Executive Director & Chief Financial Officer

Mr. M S Tanwar

Mr. M.S. Tanwar

Chief Technology Officer

Mr. Hussain Niyaz

Mr. Hussain Niyaz

Chief Commercial Officer

Ms. Fazna Mansoor

Ms. Fazna Mansoor

Human Resources Director

Mr. Shabeen Ali

Mr. Shabeen Ali

Director Network & IT Planning

Mr. Prasanna Uchil

Mr. Prasanna Uchil

Director Strategy & PMO

Financial Statements & Highlights

Dividends

2016

2017

2018

2019

2020

Dividend per Share

MVR 2.75 per share

MVR 3.20 per share

MVR 3.22 per share

MVR 3.30 per share

MVR 2.34 per share

Total Dividend

MVR 406,451,102.75

MVR 472,961,283.20

MVR 475,917,291,00

MVR 478,741,323.30

MVR 345,852,938.34

Profit After Tax

MVR 491,336,000

MVR 580,427,000

MVR 544,772,000

MVR 598,916,000

MVR 407,262,000

Corporate Governance

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.

Annual General Meeting

 

Press Release

Announcement

 

Ooredoo Maldives at a Glance

 
Over 345,000 Customer Base

Over 345,000 Customer Base

Nationwide 4G+ Coverage

Nationwide 4G+ Coverage

1200 km Nationwide Submarine Cable

1200 km Nationwide Submarine Cable

MVR 1,723 Million Revenue in 2020

MVR 1,723 Million Revenue in 2020

Contact Us

Ms. Arushee Mohamed

Head of Investor Relations

Ooredoo Maldives Plc

H. Sunleet, 7th Floor,

P.O. Box 2196, Boduthakurufaanu Magu

Malé, Republic of Maldives

T: +960 961-1657

F: +960 961-1001

E: [email protected]