Thursday 25th Jul 2024
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Millions in Profits, yet MTCC withholds Bonus from Employees

Employees of Maldives Transport and Contracting Company (MTCC) have expressed concerns about their bonuses being held off, despite the company’s reported profits.
MTCC staff received their most recent bonuses in 2017, during President Abdulla Yameen Abdul Qayyoom’s administration.
MTCC refused to respond to the question posed by TMJ as to why their employees’ bonus remains withheld. TMJ had also reached out to MTCC Managing Director Adam Azim to get a comment from him, unsuccessfully.

Notwithstanding the discontinuation of staff annual bonuses, reported statistics show that MTCC earned MVR 224 million in net profits just last year. Moreover, within this year’s second quarter, the company saw net profits of MVR 66 million.

While many employees have expressed their concerns regarding the bonus issue, upon speaking to an employee at MTCC, TMJ has learned that the employer had not notified their staff as to why their bonuses were discontinued since 2017.

Even MACL had recently distributed MVR 25,000 to their staff as annual bonus after 3 years, feigning the pandemic. MACL hadn’t issued bonuses through the years 2019 to 2021.