Tag: public limited company

Privatisation body to require criminal record checks for public company board appointees

Candidates appointed as directors on the boards of public limited companies in the Maldives will now face a mandatory criminal record check, according to local media.

Privatisation and Co-privatisation Board President Mohamed Amjad told Sun Online that any candidates appointed to the board of a public limited company will be required in future to submit their attested qualifications and a police report disclosing any criminal convictions they may have.

Amjad was quoted in local media as saying that the new review process would apply to all appointments made to boards of such companies in the future, with candidates also being checked to see if they have any pending debts owed to the courts.

The privatisation board has said it will also look to identify if a candidate also had relatives working for the same company.

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Dhiraagu re-registered as public limited company

Telecommunications company Dhiraagu has re-registered as a public limited company (Plc).

The company actively took the name Dhivehi Raajjeyge Gulhun Plc, however it will continue to use the brand name Dhiraagu.

Dhiraagu is one of the largest telecommunications companies in the Maldives, along with Wataniya. It is also one of the country’s most profitable companies.

On 24 August this year, the Maldivian government revealed a plan to turn over one-third of its shares in Dhiraagu to the public. The sale was expected to generate Rf 1.46 billion (US$95 million).

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