MTDC reports profits of USD 1.7m in 2020

Thazmeel Abdul Samad, the Managing Director of MTDC. (Photo/Tourism Ministry)

The Maldives Tourism Development Corporation (MTDC) has reported a profit of USD 1.7 million in 2020. 

Financial statistics disclosed by the company show that in the fourth quarter of 2020, MTDC earned USD 945,719 with profits reported around USD 932,751. 

In total, the company earned USD 3.6 million in 2020.

The company had distributed shares in 2019, after 11 years of reporting losses. 

The company has developed and sub-leased the Anantara Kihavah Villas which is operated by Maina International and Ayada Maldives which is operated by a Turkish company.