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Public Enterprises
02 January 2021 Share Tweet

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 Minority 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 PlcMajority 64.20% MNSL 4.65% & Public 31.15%
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 Maldives Marketing and Public Relations Corporation Limited Majority 100% NIL
14 Maldives Islamic Bank Plc Minority 28% ICD 36%, MPAO 10.53%, Amaana Takaful 5% & Public 20.47%
15 Addu International Airport Private Limited Majority 70% Kasa Holding 30%
16 Aasandha Company Limited Majority 100% NIL
17 Kadhdhoo Airport Company Limited Majority 100% NIL
18 Fenaka Corporation Limited Majority 100% NIL
19 Maldives Hajj Corporation Limited Majority 100% NIL
20 Maldives Centre for Islamic Finance Limited Majority 100% NIL
21 Maldives Sports Corporation Limited Majority 100% NIL
22 Maldives Integrated Tourism Development Corporation Limited Majority 100% NIL
23 Waste Management Corporation Limited Majority 100% NIL
24 Business Center Corporation Limited Majority 100% NIL
25 Public Service Media Majority 100% NIL
26 SME Development Finance Corporation Private Limited  Majority 85% Male City Council 5% , Addu City Council 5% , Fuvahmulah City Council 5% 
27 Fahi Dhiriulhun Corporation Limited Majority 100% NIL
28 Maldives Fund Management Corporation Limited  Majority 100% NIL
29 TradeNet Maldives Corporation Limited Majority 100% NIL
30 Road Development Corporation Limited Majority 100% NIL
31Maldives Post LimitedMajority100%
32Regional Airports Company LimitedMajority 100%