Fenaka becomes profitable for the first time

Foundation brick laying ceremony at N.Fodhdhoo | Photo: Fenaka

Male’, Maldives – The audit report for the past year of Fenaka Corporation has shown a profit for the first time.

According to the audit report, the company has received a clear profit of MVR 35.9 million for the year 2019 whereas the company has been constantly making losses till now. The company incurred a loss of MVR 143 million for the year 2018 alone.

Fenaka said in a statement released regarding the remarkable success, that it was achieved due to putting the experienced workers of the company to good use and the changes brought to the running of the company by the Managing Director Ahmed Saeed. It was further highlighted that this is the biggest difference in performance level shown by a government invested company yet.

In addition to this, they said that the current success of the company showcases it’s integrity and shows that it is now free of corruption, theft and wastefulness and that this is an apt response to all those who have a negative mindset regarding the company and those who are constantly trying to ruin the name of the company.

Eversince the company was inaugurated back in 2012 and up until 2018 the company has been living in a state of shamefulness both interms of its financial position and the running of the company and hence the fact that the current success achieved by the company is by far the greatest improvement in their performance shown by a government invested company yet.

statement released by Fenaka

Fenaka reassured the public that they will continue to do their work for the betterment and development of the public with integrity and honesty.