The Maldives Transport and Contracting Company (MTCC) has announced that it will take action against those found responsible for the mismanagement of shareholders’ funds.

In a press release, MTCC stated that as a publicly listed company with shareholder obligations, it has a duty to uphold transparency and accountability. The company noted that audit reports from previous years highlighted negligence in safeguarding shareholder money and stressed that such practices will not be tolerated going forward.

MTCC further assured that it will fully cooperate with relevant authorities to investigate the matter and ensure accountability. The company reaffirmed its commitment to strengthening financial management systems, restoring investor confidence, and protecting shareholder interests.

The statement comes amid heightened public scrutiny of state-owned and publicly listed companies, with calls for stronger governance and oversight to prevent financial mismanagement.