Shiham dismissed as MD of MTCC

Ahmed Shiham Ali has been dismissed as the Managing Director (MD) of Maldives Transport and Contracting Company (MTCC).

Spokesperson at the President’s Office Ibrahim Muaz told Sun Online today that the President has nominated Abdul Razzaq Hilmy of Maafannu Ranika to the Privatization and Corporatization Board, to replace Ahmed Shiham Ali as the MD of MTCC.

“President forwarded Abdul Razzaq Hilmy’s name to replace Shiham on Thursday,” said Muaz.

Ahmed Shiham Ali was appointed as the MD of MTCC in December 2013.

A public limited company with the 40 percent shares held by the public, MTCC recently agreed to a MVR 16 per share dividend pay-out from its 2013 profits. The company made a profit of MVR 26.74 million last year.