Fenaka hit with over MVR 800 mil loss in 2023: Audit

4 days ago

An audit report on Fenaka Corporation - the state's second utility service provider besides STELCO - had faced an annual loss of over MVR 800 million in 2023 alone. The report published by the Auditor General's Office shows the company reported a total annual loss of MVR 813,447,455 in the review year, which is twice more than the MVR 425 million