Business

Visit Maldives launches social media campaign with ITAKA targeting Polish tourists.

Published

3 years ago

03/06/2021

MNN

Visit Maldives has launched a social media campaign with ITAKA, one of the most popular tour operators in Poland, targeting the Polish Market.

The press release published in their official website states that the aim of the campaign is to maintain destination presence in Poland and to promote Maldives as a safe haven.

Digital marketing activities and outdoor ambient campaigns will be carried out according to Visit Maldives, to promote products and uniquely-Maldivian experiences. According to the press release, the campaign would also emphasize on the safety provided by the natural socially-distanced geography of the Maldivian islands.

Visit Maldives states that the campaign coincides with the commencement of charter flights to the Maldives from Warsaw and that the focused marketing would help maintain charter operations all year round.

The press release further states that the campaign with ITAKA is forecasted to increase Maldives’ visibility in the Polish market as ITAKA holds a spot as a proficient and experienced tour operator in the Polish market with over a 30% market share.

To increase and drive bookings to Maldives the campaign will be combining digital and outdoor advertisements as per Visit Maldives. Under the digital campaign, Maldives is to be advertised on AdWords with beautiful scenery and accompanying informative text and will be promoted on various travel and lifestyle Polish websites and Instagram through animated display ads and push messages. The marketing material is expected to reach an estimated 25 million unique visitors according to Visit Maldives.

Some of the outdoor marketing activities highlighted in the press release include showcasing Maldives on TVs in over 150 of ITAKA’s offices around Poland for one month, ads featuring the destination shown on LED TV in front of Hard Rock Cafe’ Złote Tarasy Al. Jerozolimskie and a large print banner showcased in a popular area in Warsaw called Koszyki with a monthly traffic of over 1.4 million visitors. A roadshow is also planned for the latter half of the year for Central and Eastern Europe countries including Poland.

With easing of travel restrictions and direct connectivity, the Polish market plays an integral role in achieving pre-pandemic arrival figures according to Visit Maldives.

A social media campaign targeting the Japanese Market to maintain destination presence was also launched by Visit Maldives, this June.

Business

BML announce new MVR 1-mil loan facility without collateral

Published

10 hours ago

06/05/2024

The Bank of Maldives (BML) on Monday officially announced the launch of two new home loan products; the Home Build Loan and the Home Equity Loan.

The new loan facilities have been introduced to cater to the growing customer needs for home construction and renovation, BML said.

The new Home Build Loan has been designed to allow individuals to borrow up to MVR 1 million without any additional security. The facility provides a repayment period of over 15 years, which is ideal in renovation projects or larger home construction projects across the Maldives.

The bank also, for the first time, has introduced Home Equity Loan for existing Home Loan and Financing customers. This new facility enables these customers to borrow up to the repaid amount, or the usable equity, of the primary loans. The Home Equity Loan is offered for borrowings of more than MVR 50,000 with a repayment period of 20 years.

Moosa Nimal, the Director of Retail and SME Banking said, “These products are designed to make access to finance easier for our customers across the country.”

“The new Home Build Loan does not require any additional security and will allow customers to build or renovate homes at the most competitive market rates. Our Home Equity Loan offers our existing home financing customers to access usable equity available on their property, at a low rate of just 10%.”

The newly introduced loan facilities are available for BML Islamic customers as well.

Source(s): sun.mv

Business

MIB signs an agreement to expedite business registration process

Published

2 days ago

04/05/2024

Ministry of Economic Development and Trade and the Maldives Islamic Bank (MIB) has entered an agreement, aiming to expedite and streamline the registering services for businesses. The agreement was signed to enhance the quality of services, ensure information security, and facilitate an efficient registration process.

Following the signing of the agreement, Minister of Economic Development and Trade Mohamed Saeed disclosed that customer data can be readily verified with the assistance of the ministry’s Application Programming Interface (API). The minister stated that this would enable businesses to set up bank accounts in a convenient manner. Regarding this, Registrar of Companies Mariyam Waheed underscored the pivotal role API will play in authenticating businesses to customers and expediting in the verification process.

This initiative will significantly benefit individuals accessing online services from the ministry, fostering economic development within the nation. This marks the first agreement of its kind signed by the ministry.

Business

MTCC reports staggering 82.9% net profit drop

Published

5 days ago

01/05/2024

Maldives Transport and Contracting Company (MTCC) has reported a staggering 82.9% net profit decline for Q1-2024.

According to MTCC, it earned just MVR 5.2 million in net profit for the review quarter, which came down from MVR 30.8 million in the last quarter of 2023.

The company’s revenue for Q1-2024 stood at MVR 664.4 million, which is a 15.8% drop from MVR 789.2 million generated in the Q4-2023.

Moreover, MTCC reported a whopping 94.5% decline in its Gross Profit for the review quarter, registering MVR 2.5 million in Q1-2024 compared to MVR 44.3 million.

The operating profit for the review quarter stood at MVR 41.8 million, which is a 26% drop from MVR 56.5 million in Q3-2023.

The net asset value per share dropped from MVR 227.95 in Q4-2023 to MVR 226.98 to Q1-2024, while earnings per share saw a notable decline from MVR 3.83 in the preceding quarter to just MVR 0.65 in the review quarter.

Source(s): sun.mv