Issuers
Ooredoo Maldives
Ooredoo Maldives provides an innovative range of voice, data, broadband, content and enterprise services tailored to the growing needs of today’s consumers and businesses. Guided by its vision of enriching people’s lives and its belief that it can stimulate human growth by leveraging communications to help people achieve their full potential, Ooredoo Maldives has transformed the digital lives of communities across the Maldives.
The Company launched its operations in the Maldives on August 01, 2005 as Wataniya Telecom Maldives Private Limited, a subsidiary of National Mobile Telecommunications Company K.S.C.P (“NMTC”). The Company is the second licensee to be issued with a mobile telecommunications service provider license in the Maldives. As part of the rebranding strategy carried out by the Ooredoo Group, the Company changed its name to Ooredoo Maldives Private Limited on December 22, 2013. The Company changed its legal status to that of a public limited company on 6th October 6, 2016 and was accordingly re-registered as Ooredoo Maldives Public Limited Company. Our majority shareholder Wataniya International FZ-LLC holds 90.5% and the Maldives Pension Administration office holds 5.64% of the issued shares of the Company, while the remaining 3.86% of the shares are held by other public shareholders.
The Company is driven by its vision of enriching people’s lives through telecommunications and technology to help people achieve their full potential. We cater to customers across Maldives including small to medium businesses, large corporates and state institutions, providing a wide range of innovative voice, data, broadband, content, enterprise and e-commerce services tailored to the growing needs of today’s consumers and businesses. By the end of 2022, our subscriber base was 387,000.
Since the beginning of the Company’s establishment in the Maldives, we have continued to remain at the helm of revolutionary changes in the development of the telecommunications industry in the Maldives by introducing leading edge technologies and innovative solutions. We were the first operator to launch the first ever and fastest 3G, 4G Networks and 5G Home Broadband services in the Maldives. We remain committed to enrich the lives of Maldivians by providing them with the latest advancements of the telecommunications industry. Ooredoo Maldives generated revenues of MVR 1,924 million and a Profit after Tax of MVR 560 million as of 31st December 2022.
Ooredoo Maldives is a member of Ooredoo Group, a leading international communications company delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses across markets in the Middle East, North Africa and Southeast Asia. Launched in August 2005 as Wataniya Telecom Maldives Private Limited, it revolutionized the local telecommunication industry through the introduction of world-class network technologies and innovative solutions to help people enjoy the internet.
Board Members
Ms. Fatima Sultan Al-Kuwari
Chairperson/ Independent, Non-Executive Director
Mr. Khalid Hassan M A Al-Hamadi
Managing Director/ Executive Director
Mr. George Bowring Challenor
Independent, Non-Executive Director
Mr. Vikram Sinha
Independent, Non-Executive Director
Ms. Dheena Hussain
Non-Independent, Non-Executive Director
Mr. Suresh Kalpathi Chidambaram
Non-Independent, Executive Director
Ms. Moza Mohd A Y Darwish
Independent, Non-Executive Director
Mr. Mohamed Shahid
Independent, Non-Executive Director
Board Committees
Audit and Risk Committee
3 Members
Composition
The Audit and Risk Committee (“ARC”) of Ooredoo Maldives is established in accordance with the requirements of the Corporate Governance Code (“CG Code”) of the Maldives. The ARC is comprised of 3 members, all of whom are Non-Executive Directors and the majority of whom including the Chairman of the ARC are independent as required by the CG Code.
Mandate
The ARC assists the Board of Directors in fulfilling its statutory obligations and advises them on the adequacy and effectiveness of internal controls, risk management, control and governance processes, ensuring the independence and objectivity of internal and external audit functions and the integrity of the Company’s financial statements.
Members of the committee
Mr. George Bowring Challenor
Mr. Vikram Sinha
Ms. Moza Mohd A Y Darwish
Nomination and Remuneration Committee
3 Members
Composition
The Nomination and Remuneration Committee (the “NRC”) of Ooredoo Maldives is established in accordance with the requirements of the Corporate Governance Code (“CG Code”) of the Maldives.
The NRC comprises of 3 (three) members appointed for a term of 3 (three) years, the majority of whom are Independent, Non-Executive Directors.
The NRC is mandated with carrying out the functions of both the Nomination Committee and the Remuneration Committee. Based on the scope and expertise required to expedite the responsibilities of both Committees and considering the time and resources required, a combined Committee is considered to be more effective and efficient.
Mandate
The NRC is mandated with:
• Providing recommendations to the Board and to the shareholders on Board appointments after a proper evaluation;
• Providing recommendations on remuneration packages for the Board and the Chief Executive Officer for approval by the Board;
• Reviewing policies with respect to remuneration, pension, performance related pay schemes for approval by the Board.
Members of the committee
Mr. Vikram Sinha
Ms. Dheena Hussain
