Maldives mulls Housing Development Corporation stock sale
“We have done the studies and will announce them very soon,” Haider said.
The government is considering converting the Housing Development Corporation (HDC) into a public limited company and a decision will be announced soon, housing minister Dr Ali Haider said Sunday.
The President's Office held a press conference to provide information on the decisions of Sunday's cabinet meeting.
"Although the cabinet did not decide today, the president had intended to make HDC a public limited company," Haider said.
However, the minister did not say when it would be done.
“We have done the studies and will announce them very soon,” Haider said.
The cabinet on Sunday decided on:
-
Merger of the Maldives Airports Company Limited (MACL) and Regional Airports Company Limited (RACL) by the end of January
-
Merger of the Fahi Dhiriulhun Corporation (FDC) with the Housing Development Corporation (HDC)
-
Consolidation of the Maldives Fund Management Corporation with the Business Center Corporation (BCC)
-
Designating existing AgroNet as part of Maldives Industrial Development Free Zone Company
These moves follow last week’s cabinet decision to make Fenaka Corporation, a debt-ridden state utility, a subsidiary of the State Trading Organisation (STO).
