Govt. liquidates 9 State-owned companies including Felivaru, Koodoo Fisheries

Felivaru Fisheries Maldives Limited (FFML). | Photo: Avas

Male’, Maldives – Finance Ministry of Maldives revealed this Wednesday that there are currently nine state-owned companies assigned for liquidation.

The latest list released by the Finance Ministry shows nine Maldivian state-owned companies that have been assigned for liquidation. They are:

  • Maldives National Broadcasting Corporation Limited
  • Felivaru Fisheries Maldives Limited
  • Koodoo Fisheries Maldives Limited
  • Madivaru Holdings Private Limited
  • Gan Airport Company Limited
  • Works Corporation Limited
  • Maldives Road Development Corporation Limited
  • Hazana Maldives Limited
  • National Investment Management Company Limited

While the Ministry informs that all the companies are currently going through liquidation, the liquidator of all these companies excluding Hazana Maldives Limited and National Investment Management Company Limited is AccruPlus LLP. The liquidator of the remaining two companies is MHPA LLP.

While the latest report by the Privatization and Corporatization Board (PCB) on the performance of the 31 state-owned enterprises record that 5 companies of did not foster any income in the first quarter of 2021, Finance Minister Ibrahim Ameer states that only very few state-owned companies run at a profit.