The Board of Directors of the Maldives Tourism Development Corporation (MTDC), a public government shared venture, has appointed Faseeh Zahir as the new Chairperson of the corporation.
Legal Officer at the Ministry of Tourism, Faseeh was appointed to the position on August 8 at the 145th meeting of the board of directors as per Article 89 of the corporation’s basic regulations.
Former chairman of the company Mohamed Rasheed resigned last June, less than a month after being appointed to the position.
Besides Faseeh, Directors of the company representing the government are Managing Director Mohamed Matheen, Abdulla Mohamed and Ismail Mifrah, and there are also four other directors appointed by shareholders.
Statistics show that the company had earned MVR8.9 million in the first three months of 2012 but the net profit had declined to MVR121,150 by the second quarter of the year.