Male’, Maldives – It has been decided to give MVR 2 for each share of Maldives Transport and Contracting Company (MTCC) based on the profits of the company for the year 2019.
It was decided to distribute the profits as proposed by the board of MTCC, during the Annual General Meeting held on Sunday. 25 shareholders and 42 proxys took part in this meeting along with additional 67 shareholders.
MTCC received MVR 53 million as net profit last year.
In addition to this MTCC appointed a new member to the board, Nasrath Muhammad from GA.Villingili who was previously a shareholder of the company.
Furthermore MTCC approved the balance sheet as well as profit loss calculations at the meeting today. In addition to this, PricewaterhouseCoopers was appointed to conduct the audits of of MTCC for the coming year.