MTCC has said it is trying to enter the fishing and tourism businesses to increase its revenue and stabilize their financial position.
Speaking at a press conference, CEO Abdulla Ziyad said that when the current government started operating MTCC, 85 percent of the company's revenue was from government projects, and important work has been planned to change that. "We will soon enter the fisheries business," he said.
"The company is also slowly entering the fisheries industry. We will announce the details later. Our intention is not to depend solely on projects here," he said.
Ziyad also highlighted that when the work that is put in to expand the business commences, the foreign currency that the company needs would come in more consistently.
Speaking at a press conference held yesterday, Chief Financial Officer (CFO) Hussain Mohamed Manik said the company is focusing on expanding the trading sector in addition to projects to find more ways to raise funds to meet its debt. "Besides fisheries, there are also things that can be done in the tourism sector," Manik said.
''These things are part of the company's business plan and discussions are currently underway,'' he said.
"Earlier, the company was planning to keep the trading division at the same level. The current management's idea is to make the trading division a division with very diverse products," he said.
He said the company would also benefit from dredging the land that is needed for the tourism sector and selling them to investors.
He said the company has always been funded by government projects and instead of doing so, the new management is trying to make it self-sufficient without always relying on the government.
MTCC's new management is working to enter fisheries and tourism while the previous management has also announced plans to enter the real estate business. However, no practical work has been done in these fields to date.
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