The Prosecutor General's Office charged two companies and three individuals over tax fraud related to Covid-19 PCR testing services. Island Health Solutions faces three counts of tax evasion and one count of obstructing government functions, while Pioneer Maldives faces two counts of tax evasion. Dr Ali Abdulla Latheef, who owns 50 percent of Island Health Solutions, faces three counts, while Dr Ikleel Shareef, the majority shareholder of both companies, and accountant Ali Fayaz each face five counts. The companies evaded MVR 20.2 million (US$ 1.3 million) in taxes through false returns filed between 2020 and 2022, the PG office said, seeking fines of double that amount. The two companies were among the leading PCR testing providers during the pandemic but failed to report MVR 134.6 million in taxable income, according to MIRA, which referred the case for prosecution. Dr Latheef – who was a member of advisory committees that oversaw PCR testing – was previously investigated over suspected corruption in Covid-era purchases at IGMH, where he chaired the procurement committee.
The Bank of Maldives defended housing projects signed with two Chinese construction firms. Responding to media queries, BML said the contracts were awarded at controlled prices and that Beijing Urban Construction Group and China Machinery Engineering Corporation were selected based on their financial capability and experience. The bank declined to disclose further commercial details, citing competitive concerns and shareholder interests. BML's subsidiary is building over 3,000 flats across Vilimalé and Hulhumalé under the central bank's affordable housing scheme.
Some 1,530 students have moved to the Greater Malé region to start Grade 1 when the new academic year begins next week, education ministry figures showed. Of those migrating, 753 are headed to Hulhumalé, 694 to Malé and 83 to Vilimalé. A further 836 students moved from Malé to Hulhumalé. Total Grade 1 enrolment in atoll schools stands at 3,042 compared to 1,748 in the capital.
MIFCO started buying undersized yellowfin tuna that private exporters reject, paying MVR 20 (US$ 1.3) per kilo for fish weighing 10 to 15kg and MVR 25 per kilo for 15 to 18kg catches. Following a meeting with the MIFCO management earlier this week, the Union of Yellowfin Tuna Fishermen welcomed the move as a practical response to longstanding demands, which also include buying export-grade yellowfin tuna. Fishermen previously had to offload smaller catches at a loss during peak seasons.
The Bank of Maldives donated MVR 100,000 to support MOMS Aid’s “Back to School” campaign, an initiative that "provides essential supplies for students from financially vulnerable families for the upcoming school year."
The Blue Lagoon Luxury Residence opened bookings for its second residential tower, Pearl Tower, citing strong demand for its waterfront location near the Hulhumalé Phase 2 bridge overlooking the marina. Developer VCIL Group told the media that construction began last month and a formal groundbreaking ceremony is scheduled for January 26. The 18-storey twin-tower complex will feature over 35,000 square feet of amenities including a rooftop pool, jogging track, 15-seat cinema, gym, daycare and children's play area. Units range from two-bedroom apartments of 1,035 sq ft to three-bedroom units up to 1,875 sq ft. VCIL previously completed the 1,400-unit Aman Dhodhi towers for FDC.
