Ex-Fenaka chief Muaz in India
Since his resignation, Muaz has faced allegations of corruption, which he has denied.
Former Fenaka Corporation Managing Director Muaz Mohamed Rasheed, who resigned on Monday, has stated that he is currently in India with his family for medical treatment and vacation.
Muaz made the clarification in a post on the social media platform X on Thursday, addressing rumours circulating about his whereabouts.
“I am currently in India with my family for medical treatment and vacation. I will go to Maldives very soon,” Muaz stated, denying suggestions that he was attempting to evade accountability.
In his resignation letter submitted to President Mohamed Muizzu, Muaz outlined several challenges faced during his tenure:
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The backlog of electricity, water, and sewerage services in serviced islands has not been maintained in recent years.
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The company inherited MVR 4.3 billion in debt.
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Staffing levels were significantly higher than necessary.
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Insufficient cooperation from relevant agencies to restructure the company.
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Operational expenses exceeding revenue.
Muaz noted that Fenaka had shared its plans to address these issues with relevant stakeholders but had not seen meaningful progress. He also highlighted delays in salary payments, stating, “The salaries for the months of October and November have not been paid to the employees at the beginning of the month. This has not happened in the company in recent history.”
Since his resignation, Muaz has faced allegations of corruption, which he has denied. Fenaka Corporation has not yet commented publicly on the matter.
