President Nasheed and his government seem to be hell-bent on saving Jabir’s ass in the Herethere (Handhu Fushi) fiasco. Following is a brief summary of how this fiasco is unfolding:
1. Jabir (pic) took hold of Herethere after a public bid and paid the rent (about usd 2.5 Million) for the first three months (June, July, and August 2008). He then requested Gayyoom’s government to defer the rent of the following three months for a future date). This request of Jabir wasn’t approved by the MTDC Board, so he paid the rent for the following three months (Sept, Oct, and Nov 2008).
2. Now the rent for the next three months (December 2008 and Jan, Feb 2009) is due and Jabir hasn’t paid this rent. Instead of paying this rent, Jabir has made an audacious and staggering request to the new government of President Nasheed. In a letter to the new government, Jabir has made three requests that could only be described as selfish, irresponsible and stupid!
3. The three requests Jabir has made to the new government and the MTDC Board are as follows:
(a) To forfeit (or make free) the rent of Herethere for one whole year. In monetary terms this means that Jabir is asking the MTDC Board to give him about usd 10 million for free!
(b) The second request from Jabir was to return the usd 10 million bank guarantee from Habib Bank which Jabir has deposited at the MTDC Board as a guarantee for one year’s rent of Herethere. The purpose of this bank guarantee was to ensure that the rights of the share holders of MTDC were upheld even if Jabir fails to pay the rent for one year. Now Jabir wants the government to return this bank guarantee, throwing the rights of the share holders into the garbage bin!
(c ) The third request was to reduce the rent of Herethere.
4. The man won Herethere in a public bid. No one imposed this on him. Ananthara (an American owned company) had also bid for Herethere. But because Ananthara’s bid had a slightly lower Net Present Value (NPV) than Jabir’s bid, Jabir won the bid. The resort at present has occupancy of over 200 guests and is doing good business. Why should the government give one year’s rent free for Jabir? Why should the government return his bank guarantee? Why should the rent be lowered?
5. The total monetary value of Jabir’s three requests would be an estimated usd 30 million. The man has the audacity to ask the board of a public company and ask the government to grant him this kind of favour while overlooking the rights of hundreds of public shareholders!
6. But the most staggering thing is not Jabir’s mindboggling request but the fact that President Nasheed and his Tourism Minister (Sawaadh) seems to be willing to grant these three requests of Jabir. Following Jabir’s requests the Tourism Minister Sawad has tried to pressurize the CEO of MTDC and the MTDC Board to grant Jabir’s wishes but the Board has stood firm to protect the rights of the share holders. The obstacle that prevented Sawaadh from agreeing to Jabir’s requests was the Board of MTDC. The Board has given 30 days notice to Jabir to pay the outstanding rent for December 2008. Jan, Feb 2009. The deadline given for payment of the rent expires on 13th January. If Jabir doesn’t pay the rent by this date (within the next three days) the MTDC Board could revoke his bank guarantee of 10 million dollars and even nullify the contract.
7. In an apparent move to prevent such a scenario, the government and the Tourism Ministry has dismissed the four government-directors assigned to MTDC Board and assigned four new directors.
8. While all this is happening there are staffs at Herethere whose salaries haven’t been paid for the past 2 or 3 months and the rent for Herethere is also due (usd 2.5 Million).
Indeed, President Nasheed and his government seem to be hell-bent on saving Jabir’s ass in the Herethere (Handhu Fushi) fiasco. In an apparent move to please Attorney General Dhiyana (Jabir’s wife) and also to please Jabir (who is a parliament member), President Nasheed seems to be cuddling up to Jabir while disregarding the rights of the public share holders of MTDC.
The newly appointed directors to the Board could meet tomorrow (11th January) to try and grant Jabir’s wishes before the deadline of 13th January arrives. My advise to President Nasheed and the newly appointed Board of MTDC is that the rights of the Maldivian people should be held above the selfish desires of any misguided businessmen.
MTDC and Herethere and the people of Addu and the Maldivian people would be perhaps better off if Jabir’s contract for Herethere is nullified and a new party takes over its management. Not only does Jabir owe millions of dollars to MTDC and millions of Rufiya of salaries to his staff, he also owes nearly two and half million Rufiya to Island Aviation for services to Jabir's company (Yach Tours). We did not elect a new government to undertake questionable decisions to help shady business characters at a cost of million of dollars to the treasury. Listen to us Nasheed! Do you think that Jabir and Dhiyana are more important than we – the people who elected you?
The President who came to power on a promise to give the people the benefit of good governance, has ditched not only the best practises of corporate governance mandated by the CMDA under powers vested in it by law but the worst possible governance practise, and ditched the Code.
ReplyDeleteKoshee Saeed who is the President's Cabinet Secretary was a member of the CMDA board and an ardent speaker for best practise in corporate governance for over four years. His Policy Secretary has extensive experience in the UN System and knows what good government best practises are. Despite all this, the wrong that the President seems to undertake so openly is mind boggling.
This President has no respect for good governance or the welfare of the people who elected him to head the government. He has no sense of the trust that the people put in him. He seems to think that the Maldives is a God given gift for his personal sacrifices against Traitor Maumoon.
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ReplyDeleteIs this true? why its not on the media? (except your blog).
ReplyDeleteIm shocked! wat a filthy basturd Jabir is! and Anni please do not forget that at the end of the day, we elected you not Jabir alone.
May be Jabir contributed to Nahseed's campagne in return of this.. twisted politics eh!
Where is CMDA? Sleeping. Before appointing members to Board, CMDA requires that names are submitted to a nomination committee. The committee is suppose to check for conflict of interest. MTDC has one such committeee. If the names were not approved by the committee then its a violation of CMDA code of conduct.
ReplyDeleteThe Corporate Governance Code is a document that is value based, principle centred and system oriented; to ensure that the rights of all investors are protected. Good Governance is not a characteristic of tribal civilizations such as the Maldives. Democracy and governance are alien elements to such societies. However, we would like to believe that we know these we would never!
ReplyDeleteLet's stop the blame game and take the first step toward civilized existence.
The news of Jabir taking over heratheera resort has been around for a while. Rumours has it that Jabir goes in and out of President's Office and that he has been promised herathera in return of.... Sawad has nothing to do with it. He has appointed a lawyer and an accountant. Unfair to put the blame on Sawad.
ReplyDeleteJabir played similar dirty games in the previous regime. Now he continues the same in the new "thaahiru dhiriulhumeh genesdhey" regime as well. MDP and its allies got the majority vote in the last election NOT for a namesake CHANGE, BUT a change for the better.
ReplyDeleteMTDC shareholders need to take action.
Jabir already submited his offer to buy Herathere for 57 Millon Dollars, board has rejected his offer and informed MTDC lawyer take action as per the sublease agreement..
ReplyDeleteThis is nothing new, unchanged shit over and over again, previously maumoon and at the moment a different name nasheed, depressing mania regarding democracy in third world nations, primarily they'll chatter about 3 authorities should not be influencing each other. And nowadays nasheed s motto is “without the bulk of majlis he can't do a heyoveircan”!! Are we on a riddle? besides citizens are bought and sold for the votes and threatened .. etc what a shame in the name of freedom and rights ( this is actually slavery for rich ) This isn’t what we voted for
ReplyDeleteI believe that we, share holders of MTDC need to request to have an extra ordinary general meeting to discuss this herathera issue. In this special meeting, we can elect a director to fill the vacancy in the board, thus brining the number of elected directors to five.
ReplyDeleteAfter all people like Jabir, Gasim, ADK Nashid etc, brought Anni to power, Anni alone would not have made it. So whats wrong Anni rewarding Jabir, Give him the resort free and perhaps a few more too.
ReplyDeleteGood work Anni, this is thaahir dhivehi raajje, aneh dhivehi raajje and watan edhey goiy and Good Governance...
Appointments to the Board of Directors will have to be scrutinized by the Nominations and Remuneration Committee, according to MTDC Governance Code. I am not sure whether that was the case here.
ReplyDeleteHere's the document:
http://www.mtdc.com.mv/attachments/039_NR%20committee%20charter.pdf
President Nasheed should ask the Conservative Gurus to teach him governance best practise and how to do it. He seems to be letting his Envoy and Secretaries run this country like Indian Takur saahibs. And the biggest Takur of all is the Envoy.
ReplyDeletePresident Nasheed is lucky because his opponents in the DRP has no teeth. And the guy with the teeth has no support. That is Umaru Naseeru.
As anon 6:14pm said, the DRP should be now taken to court because they sit and watch the President Nasheed rape this country. They were no good in government and no good in the opposition.
I agree with anonymous 11.01. DRP wasn't good enough in government and they are worthless in opposition too. We are not saying that the new government should be booted out. We would like to give time to the new government, but that does not mean that we will watch and stay silent when parasitic businessmen are rewarded from the treasury with tricky and veiled favours. Jabir and Gasim and ADK Nashid and the lot doesn't own this country. The president should know that we bootred a more stronger dictaotor and we could boot out Nasheed too if he thinks that he can suck up to biog businesses and forget the rights of the people.
ReplyDeleteMa hithah aranee, addu meehunnah vazeefaa hoadhai dheyshaai, addu ah iqthisaadhee kurierun hoadhai dheyshaau keyfei mi hadhanee hus haali. hama "goo faali". Ehenmei, varihama nunee, herethere hedhilekah ethan ran'galhaah hin'guvaah hin'gi eththennaa. Chanpaa Afeef, Solih, Ibrahim Nooraddeen, Zahir men kede masaiykaiy ran'galha. Everin masaiykaiy kedei hama hageegathias ethan avahah ran'galhaah hadhafei hulhuvaah. Ekan kohliye. Ekamaki, dherai ni hin'guvikan. Dhenas MTDC in keraavvee kamakee, avahah YT athun rah nagafei, 10 million dollar as naagen, ethaan keraajjehey kanthethi kohfei, avahah ethan hin'guveythoa balaahvee. Nunfehey hin'guveyvara beyre baakinnah dherefeyvvee. Anantaras kurin ethan hin'guvaah beynun vikamah venee en'gifei. Ekahalei ran'galha baakinnah nunfehey HILTON kahalei baakinnah management dherefeyvvee. Bala ma han'dhaan nethen'ei ey. Mikoa ehenas veykah nethey dhee. Afeef men beyre kohli. YT ge DD boardah laafei eyah chairman kan dheyvvegenaau mihiganee. Ehenmei miverin mihiganee adhias addu raiyyithun lolah beys edaah dhee. Ben'afee, afirin lolah mikoa edaajjeheyn'ei "miris". Varihama edias. Afirinnashas 30 ahara veythikoh madun thibige.
ReplyDeleteanni should not be fooled by jabir and diana. and gabo must leave the board of directors of MTDC
ReplyDeleteThank you, Dr. Shougee, Chanpa Afeef, Damas Salih, Ibrahim Nooraddeen and all others who helped to make herathera a reality. I request all MTDC board of directors to uphold the rights of the share holders and to help to build Addu by making herathera a success.
ReplyDeleteAnni, tell your critics HELL, you have the power now, go.....just go, People of maldives has given you the license to rape the country...just rape her like a wild dog Go..Go..GO
ReplyDeleteYa Anni. You got it all now. You are all powerful. Courages. You can now give resorts to your relatives, on both sides, for 50 years. You can also now give resorts for 50 years to those friends who helped MDP. Now that you have Jabir and Dhiyana with you, give them Herethera resort. We elected you with these powers. While DRP is weak, show your real colours. No problem man. Wonderful job so far. I think you should appoint Ministers instead of State Ministers to atolls. Cool man!
ReplyDeleteperhaps anni is testing the people. he is more wise then the wisest. gasim and hassan saeed brought him to power. they are responsible. anni is only doing what he has to do. it is what gasim and hassan saeed force him to do. to hell with them. we need to free anni from them.
ReplyDeleteGovernance is simple to complex minds. It is complex to simple minds. Yet, it is the same to both.
ReplyDeleteGood Governance is when you write something down and do it, and do what you write down. Simple minds cannot write. Simpler still: do what you say and say what you do.
GG is not for the Maldives. We can talk and are very loud about it.
This is a sign of things to come. Wait and see what will be the result of the airport bid. From the beginning it became aparent that something uncomfortable is going on. This transport system tender would fail as well. Anni and his Government needs to be more honest with people.
ReplyDeleteShihab. Good Governance is to write what you say and do exactly as you wrote. And to be transparent throughout without hiding things.
ReplyDeletedrp ge thasmeen ali bunee, president nasheed hovivadai gen fai evanee, coalition akun neve.ehen bunaa iru, drp coalition eh nuhadhaabaa. yameen ge party reeko ibrahim othee drp ge coalition eh gai noon baa othee. mamuoon kairin dhas koggen drp meehun abadhu ves meehun vaa vah dhaa dhogu fathi hedhun noon kameh neh. mihaaru vejje noon thiya kulhi huttan, 76 aharu vi muskulhi be dhookoh mi zamaanah fethen dhas kobbala.
ReplyDeleteAnni has 2 jobs.
ReplyDeleteManaging the state and managing the crooks whom he used to get into office. He has to strike the right balance between the two to sustain his administration and he will do it.
He seems to have faced with tough decisions which are immediate but politically impractical. I think we can safely predict a reshuffle
after the elections.
In the short term his decisions are bitter medicine to the public but once he cleans his house, he can put the country on the right path.
URGENT RESHUFFLE NEEDED TO HALT THE DELINE IN SUPPORT FOR THE NEW GOVERNMENT...
ReplyDeleteAfter reading all the coments, I thought of sharing my views. I think the responsibility lies not only with the president. If the Majlis is weak and irresponsible, we would be seeing more of this sort of problems. Not only formulation of laws is the responsibility of Majlis, making government answerable and accountable is also an important responsibility of the majlis. So I believe that when we talk about the law on majlis election and constituencies, we should not forget talking about the other very important responsiblity of the majlis.
ReplyDeleteIn this democratic system, we, the people, have all the powers. We elect the president and majlis. So if we fail to be responsible in our say of both elections, we'll see chaos in the country. So why not learn from our past and think about the coming elections. For the past 30 years, president qayyoom had the control of the majlis and all the members kept quit and shows a blind eye to all the problems. So if president Nasheed could control the majlis in the same manner after the next election, by getting 50 seats out of the 76 seats, wouldn't that be giving the control of the majis to Nasheed and repeating the same thing... So "RAIYYITHUNNEY, AVAHAH HEYLAA!!!"
If the president puts Jabir and dhiyana above the constitution and the rights of the people; and if Jabir's wishes are granted then I believe that this will be the first major nail on this government's coffin!
ReplyDeletehey you fool. who do you thik you are. its your coffin. you golhaas go to hell. you are only in a coffin. this government is got rid of the golhaa in the coffin now. you have no gratitude for the sacrifices people made to get rid of the golhaa.
ReplyDeletekithanmme rulhiayas annige verikan kafun kureveyne kuraanan koffa dhookurany heheh fuppaanekamehneiy ghairu qaanoony veriakau miqaumah beynumeh nuvey campghn therey maumoon ehen vdhaalhuvymaves ebas aharemennah qabool nukurevunythy mihaaru dheravey baagheennaa faiyboa meehun govaigen heyo verikameh nukureveyne ganjaa boan ingireyseennaaeku eqaumah sappe ulhunugothah ulhen anni aa eynage auwaanun dhey balaaehnnu heyoverikamey kiya balaverikan nukurey
ReplyDeleteannni ge sarukaarun hurihaa enmen ves himanaigen aneh raajje ah dhaan masakkaiy kuranee. gaumuge evves bayaku baakee nukoh. e ee rangalhu gothakee. ekan adhi araharemen nah gaboolu nukurevenee. faiy buyas, feyrunas, vagakas, baagee akas dhivehi rayyithaku vaanee rayyithakah. gaumun baakee kosheh nuleveyne. ehen veema jabir ge meehaku mtdc boadah hama jessee. kobaa massalayakee.
ReplyDeleteAnonymous 12.45 is living in kookoo land. Like the soldier who was hiding in the jungle thinking that it was still world war 2; even after twenty years since the war ended. We all voted for mdp... don't think that anyone who criticises this government is a drp loyalist.
ReplyDeletebreaking news... Herethere resort ge beynumah hulhudhoo nikamethi raiyyithunge fihaara thakun fothugai jassaigen, mas nimigen dhakkaagothah nagaafaivaa mudhalah 6 lakka rufiyaa eba araa. Nikamethi raiyyithunge mi faisaa nulibigen court ah dhiyumah thayyaaruvamun dhanee... Bala! Jabir, avahah nikamethi raiyyithunge laari kolhu dhakkaa ninmaalaa... Hithah araa dhen kon bayakah baa Jabir faisaa dheyn jehifa huree!!!???
ReplyDeleteHerethere Jabir athun nagaafa Hulhudhoo rayyithunnaa havaalukuranvee, Jabir gaiga nethakas Hulhudhoo Rayyithun thi raiy hingafaane,
ReplyDeletekureega alhugadumenna libemun ai kaashi kolhuhaathaaves mihaaru thibunaa heretherein nuliben thiulhenee, sarukaarun kuran miulhenee keehbaa, mihaaru e othee riay dhefalhi kohfa, rashuge gedhiraves mihaaru ulhen dhathivaa hisaaba kantha gossi, mee dhen kihaabodu balaaveri kametha.......
ReplyDeleteHulhudhoo bodu meehaa
Anonymous said on 29 December 2009. (Copied from older blog post)
ReplyDelete"EY HADHDHAVAA BODU KUREVVI RASKALAAKO, MI BALAAVERI KAMEH MI GAUMAH MI JESSEVEE, ALHAMENNAH KON KUSHEH KUREVIFAA VAATHEE THO? HAMA KASHAVARUN IBASUVAAMEENGE NURUSSAVAA KANTHAHTHAKEH ALHAMENNA KUREVIJJE EVE, IBASUVAAMEENGE EE RAHMAIY VANTHA RASKALAANGE EVE, IBASUVAAMEENGE RUHUVODIGEN NUVAA KANTHAH THAKEH ALHAMENNA NUKUREVEY NAMA MI FADAH BALAA AAI AAFAAIY MEDHUVERI NUKUREVVEEHEVE, HAMA KASHAVARU MEE ALHAMENNA IBRA RASKALAANGE DHEKKEVI IMTHIHAANEKEVE. EY HADHDHAVAA BODU KUREVVI ALHAMENGE RAHMAIY VANTHA RASKALAAKO, ALHAMEN MI AAFAATHUN MINJU KOH DHEVVAA, IBA RASKALAAGE RAHMATHU GE THERE AH ALHAMEN GENDHAVAA FAANDHEYVE... AAMEEN,"
Enmen avahah dhu-aa kurey!!!
Iyye Hassan Saeed nukummi bayaane ben'aa lekun fehey, Yatch Tours in herathera insurance keraajjehei, ekamaki ekan othee nikoh. Ehenmei mee dhen kudhu balaaverikamah nunee. Kuliah ethan naagen, kuli nidhakkaathani, keraah ebbas vefei thibi kanthethi nikoh kuriah eyh mihin'ganee.
ReplyDeleteBallavvaa.
ReplyDeleteHurihaa beyfulhun adu assavaa.
Herathera MTDC in hingi iru, ethanugai huri stock (kaanaa aai thelaai spare parts) Yatch Tours aai havaalu kuree e stock agu kohfa dhefaraathun soi koh, eyge agu MTDC ah dhakkaa gothah. Mauloomaathu libey gothugai 5 million dollarah vure bodu adhadhehge stock aai Yatch Tours in vanee havaaluvefai. Adhives mifaisaa vanee nulibi. Mifaisaa hoadhumah masaiykaiy kurumah MTDC hin'gavaa faraaiythakah govaalan. -MTDC share holder eh-
While we are quick to criticize President Nasheed, one must remember the nasty role Jabir played in Gayoom's Government. If Gayyoom had his way, he would have given a huge island to Jabir, saying that it was in return of biyadhoo. That was prevented not because of Gayyoom. Jabir had many favours from Gayyoom, from blackmailing. That is his style, how he operates. The man has no moral values, or business ethics. He does not respect anyone. One day he will call you friend, next day he will be ready to eat your flesh. We hope that this man will not get elected this time so that God may save us from Mr. Jabir. When Yameen could not help him anymore, he went and became a parasite of Gasim. Now, he is trying to achieve the same things through Gasim. Plus not he is also a frequent visitor to President's Office, playing the same old game. When will God save this country from greety and no-value people like this man.
ReplyDeleteDr Sawad has sold his soul to Jabir, heart to Dhiyana, and future to Gasim. Poor fellow. Jabir is so charming his soul moved. Dhiyana so beautiful he gave his heart. Gasim so wealthy he loaned is future. Saabas, mee boduvareh.
ReplyDeleteOh my God. Jabir has eaten Sawad as well. Oh my God. Oh Allah, please save this nation from this fellow. Please.
ReplyDeleteThe President is correct. This is Maldives. we do it our way. So put up or shut up. Vote when you can. Votes say it all. WE WILL WIN.
ReplyDeleteSources say that yesterday, the nomination comittee of MTDC has met and approved the 4 names proposed by the govt. Later the new board met to discuss the issue. The board discussed about the issue with sublease agreement and jabir's new proposal on one hand, and legal opinion and share holder rights on the other, and decided with a majority vote of 6-1 to uphold previous boards decision to terminate the sublease agreement and forefeit the bank guarantee, if failed to pay the rent within the notice period. I salute nasheed's govt for appointing such good directors, who despite pressure from jabir and close associates, decided to protect the share holder rights.
ReplyDeleteLater the day, the influential Jabir (he said so) met his party member sawad and forced him to stop MTDC management to executing the boards decision.
Share holders, don't worry about this. We have faith and trust on the board members and the executive management. They will protect our rights. Keep up the good work.
to anonymous 10.07.
ReplyDeleteThat's good news. Thanks president Nasheed (if that's true)...and we hope this remains true.
Lately there has been no blaaverikan like this LOLLY JOLLY. He was a menance for Maumoon's regime and now he makes Anni to sit on a hot potato!!!!! Addu, specially the Hulhudhoo is boiling. After a long long period of dreams and disappointments, the people of Addu got a glimpse of hope when the Herethere Resort was opened. It was opened with the good will and tireless efforts by many big wigs of the tourism industry, specially Champa Afeef. Before the people of Addu could even breath, this balaaverikan called LOLLY JABIR jumpped in with his never quenched greed, offered a better tender than famous international brands like Ananthara and Banyan Tree and grabbed the resort. I am sure, even at the begining he had the plan to ask for deferring the rent and other various undue concessions. Well it is the way he sold Lolly too. He takes Lolly from houses to be sold on the roads. He comes back to tell the poor fellow who gave him the lolly to say that the boys on the road put sand in the lolly flask, while the fact is he sold the lollys and pocketed the money..... That is the way he began his business career. Dhiyana,it is a shame on you that you are allowing a man who rapes your island to come into your bed. Kick him out and look for those smart boys of your age in Hulhudhoo.
ReplyDeleteJabir, please get off from our neck. We`at Addu can teach you a lesson if u bother us like this.
ReplyDelete