MPL CEO reveals aim for USD 6.5 million in revenue by year-end

The Chief Executive Officer (CEO) of Maldives Ports Limited (MPL), Mohamed Wajeeh Ibrahim, has announced that the company aims to reach USD 6.5 million in revenue by the end of this year.

In a programme aired on PSM News, Wajeeh outlined MPL’s efforts to boost revenue following the company’s management takeover. He highlighted that the focus has been on improving the company’s operations and finding innovative ways to enhance customer services.

Wajeeh revealed that MPL plans to store 1,000 containers by the end of the year. He also noted that the company’s revenue has increased compared to the previous year. He noted previously, monthly revenue ranged from USD 3.9 million to USD 4.5 million. However, he noted that during the first year of the current administration, MPL’s revenue reached USD 6 million last month, and the company is now targeting USD 6.5 million by year-end.

Discussing the steps taken to increase revenue, Wajeeh shared that the company has expanded its banking services to facilitate changes in the maritime sector. While this initiative may not generate significant revenue for the economy, he pointed out that MPL is benefiting from the launch of a sea-to-air cargo service.

Additionally, Wajeeh revealed that MPL has initiated logistics services, with 150 containers having been processed within the past year.

The CEO also highlighted the revenue generated by the company’s dockyard and shipyard, noting that efforts are underway to expand these services further.