MTCC fined following missed financial reporting deadlines
4 އޯގަސްޓު 2026 | އަންގާރަ 08:23The Capital Market Development Authority fined MTCC MVR 30,000 for failing to submit its 2025 fourth-quarter and annual audited financial statements on time. Despite three extension requests, the company missed the March 10 deadline. The penalty was issued under regulations governing the continuous disclosure obligations of issuers.
Ahmed Saudhee, Managing Director of MTCC. | MTCC
The Maldives Transport and Contracting Company (MTCC) has been fined MVR 30,000 as a consequence of neglecting to deliver its audited financial records within the designated timeframe.
According to a public statement released on Monday by the Capital Market Development Authority (CMDA), the organization officially informed MTCC of the financial sanction on August 2.
The penalty was levied because the corporation did not submit its fourth-quarter financial documentation for 2025 or its corresponding audited annual financial statements prior to the required due dates.
The CMDA highlighted that this enforcement measure was executed pursuant to Article 46 of the Regulation on the Continuous Disclosure Obligations of Issuers.
The financial submission covering the fourth quarter of 2025 was initially scheduled for public release by March 10 of the current year.
However, even after that date had elapsed, MTCC reportedly submitted three individual requests seeking extensions.
