Abbas says stock omitted from report due to minority stake
Abbas said he holds shares in three companies but did not declare them in his report because he is not the majority shareholder.
Velidhoo MP Mohamed Abbas has explained why his business interests were not included in his financial statement submitted to Parliament.
According to the statement published on the parliamentary website, Abbas declared:
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MVR 927,532 as salary income.
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No income from land rent, business profits, or shares.
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No property, business shares, or other assets listed.
In a post on X Friday, Abbas, a member of the Maldives Development Alliance (MDA), said he holds shares in three companies but did not declare them in his report because he is not the majority shareholder.
“In my financial report I do not mention a business company because there is no business company in which I have a majority stake. I have not included the details of the three business companies in my financial report because it is in the interest of their remaining shareholders,” he wrote.
He added that he would include the details if instructed by the Parliamentary Office, and if the other shareholders of the companies did not object.
