1.0 Corporate Profile and Values

Maldives Transport and Contracting Company Plc (MTCC) incorporated in late December 1980 has been in business for 26 years. Its major shareholder is the Government, having 52.5% of shareholdings. Maldives Shipping Ltd 7.5% and general public hold the remaining 40% shares. The company is authorized for 250,000 shares at a rate of MRF 50.00 which is fully issued.

1.1 Vision and Mission statement

We want to lead in our respective businesses through organic growth and collaborative innovation and creativity in this fast changing socio-economic environment where we foster continuous staff development and be known as the company to be trusted to deliver what the customer wants.

1.3 Mission Statement

To contribute fully, to the development of the economy and the country. Corporate Values that MTCC integrate into daily operation of the business are as follows:

Collaborative innovation and creativity continuous improvement as a work ethic

Enhancing the work environment for employees people growth and development

Honesty & integrity respect the fellow individual

Social Responsibility community contribution and responsibility

Profit, but profit from work that benefits the economy profitable growth MTCC will abide by the corporate values and mission in selecting future strategic opportunities, thus opportunities that does not fit to the frame set above will be not be considered within the company structure.

2.0 Core Businesses of the Company

Since its incorporation, MTCC main objective was to cater to the needs of the community. During the past 25 years of service, MTCC has contributed to the development and sustainability of the country by catering to the most essential sectors of the Maldives development. At present MTCC businesses range from marine/civil construction, transport services, trading and rental of heavy machinery. Each of these business units has its own office handling its operations, sales and administrative works.

Over the years, MTCC has proven to be the best in marine related businesses, mainly in construction and transport. The core business of MTCC lies in the marine segment, where the company holds a major market share in marine construction works. MTCC has gained respect and nation wide reputation as a reliable company. MTCC norm is to maintain and enhance corporate reputation whilst investing in the future to create higher return for its shareholders. The major functional areas of MTCC are Administration and Human Resources, Finance and Accounts, Procurement and Information Systems and all these sections are located at the head office. All these functional areas assist and support the operation of all major areas of business.

3.0 Company History

MTCC achieved a 77% increase in profits during the year 2005 of profits during the year 2005 compared to downturn of profits in 2004. Since the introduction of the capital market of Maldives, MTCC shares have the highest demand proving the strength and the reputation of the company. Company achieved a 77% increase in net profits during the year 2005 (Mrf 34.49 million) compared to the previous year (19.47 million). During the year 2005 the sales of the company increased by 17.47% from Mrf 304.49 million in 2004 to Mrf 357.69 million in 2005. Increase in sales and improvements in profit margins contributed to this increase. Since the introduction of the capital market of Maldives, MTCC shares have the highest demand proving the strength and the reputation of the company.

At the end of 2004 MTCC had a negative cash flow of MRF 17.43 million that was changed to positive MRF 21.03 million during 2004. This Change was due to decrease in inventory and receivables at the year end of 2005.


Sincerity and Professionalism

Writing down our vision and mission is not enough. We believe in the meaning of the words and show it by conducting business in the utmost professional manner.

Courtesy and Cheerfulness

We want MTCC Travel Bureau to be a pleasant place for associates to work. This makes it easier treat the client in a courteous manner, with a friendly smile on our face and in our voice.

Respect

We respect our clients and associates for their views, opinions, and values


SCOPE OF OPERATION

At present MTCC Travel Bureau is engaged in the provision of the following services:


Travel & Tour Operation

  • Airlines Reservations and Ticketing
  • Airline Ground handling
  • Handling of Cruise liners
  • Domestic Transfer and other ground arrangements
  • Travel Insurance
  • International Money Transf


TRAVEL AND TOUR OPERATION

We offer Inbound & Outbound packages, cruises and hotel reservations among the wide range of our services. We have preferred pricing and access to full array of travel related special packages including cruise, air travel, weekend gateways, fun places for kids, romantic hideaways and much more!

Our travel expert will work closely with you to provide the best possible solution, fulfilling your needs for travel arrangements for your customers. Consumers will find that MTCC Travel Bureau provides the very best resources for high value, convenience and excellence in service.

Inbound packages, cruises and excursions may be tailor-made to suit the customer. We have the resources to provide you with your dream holiday in the Maldives.

By appointing us as your travel agent you will have the comfort of knowing that your clients will be looked after. We will ensure that our clients are attended urgently to guarantee the satisfaction of the customer. We take care of our clients from the time they leave on their travels to the time they return home.