Thilafushi Corporation owes US$1.7 million, claims Heavy Load

Heavy Load Maldives has claimed that the Thilafushi Corporation Ltd (TCL) owes the company Rf26 million (US$1.7 million) for completed land reclamation work, according to local daily Haveeru.

Heavy Load Director Bushainath Moosa told the newspaper that the company was unable to pay Rf6 million (US$389,105) owed to Fuel Supply Maldives (FSM) due to pending payments from TCL as the most of the fuel had been used for the land reclamation project.

FSM has meanwhile sued Heavy Load to recover the outstanding fuel payments.

“We obtained the fuel when TCL gave us a guarantee of Rf5 million (US$324,254),” Bushainath was quoted as saying. “But we have been hindered by the unpaid Rf26 million from TCL.”

Bushainath further claimed that the Anti-Corruption Commission (ACC) informed Heavy Load Maldives in a letter declaring that the company was not at fault in the controversy surrounding the Thilafushi land reclamation project.

Heavy Load Maldives is a family business of the former ruling Maldivian Democratic Party (MDP) Chairperson and Hulhu-Henveiru MP ‘Reeko’ Moosa Manik.

“There have been attempts to discredit the image of this company for political gain,” Bushainath said, adding that rumours of corruption and undue gain were adversely affecting business.

In May, TCL Managing Director Mohamed Latheef told Minivan News that delays in the land reclamation project have resulted in only 20 percent of the work being completed.