Island Development Company Ltd (IDC)

audited financial statements

Island Development Company Ltd Memorandum

about

Name:

Island Development Company Limited (IDC)

Date of Incorporation:

29 April, 1980

Sector: Minister responsible for Industry

Parent Ministry:

The Minister responsible for Industry 

Ownership: 100% GoS

Business type:

Company

mandate

The company is primarily charged with carrying out business as island developer on the outer islands.

core activities

 Its function is to:

  • operate air and sea links to the islands

  • manage electricity generation and distribution
    Manages potable water treatment facilities and distribution

  • manage sewerage and solid waste treatment facilities
    Maintains efficient telecom links to the islands

  • construct and maintains infrastructure

  • supply and stock essential food supplies on the islands and operates retail facilities.

  • provide medical and medivac facilities

  • maintain law and order and manages national emergency plans

  • provide facilities for visiting government officials on islands

  • provide and maintains social infrastructure
    Engages in agricultural activities

  • support conservation programmes operated by conservation partners

 

THE SUBSIDIARIES

Green Island Construction Company Ltd Memorandum

audited financial statements

Name: Green Island Construction Company Limited (GICC)

Date of Incorporation: 08 May, 2012

Sector: Service and Development

Parent Ministry: Minister responsible for Industry

Business type: Company

Mandate:

  • Carry on business of builders and civil engineering contractors.

  • Carry on the business of furniture manufacturers and cabinet makers.

  • Carry on the business of manufacturing and selling of concrete products and materials.

  • Acquire, invest in and develop properties.

  • Manage lands, buildings and other properties.

  • Import, stock and trade in buildings, materials and equipments.
     

The Subsidiaries of GICC

Name: Green Tree Investment Company Limited

Date of Incorporation: 05 February, 2014

Sector: Minister responsible for Industry

Parent Ministry: Office of the Vice President

Business type: Company

Mandate:

  • to purchase, own, lease, develop and manage immovable properties.

  • to carry on business as developer of land.

  • to construct, purchase, own, lease, manage and sell buildings of all kinds, including but not limited for use as offices, private residences, commercial premises and tourism establishments.

  • to promote the development of land and construction of buildings for all type of use.

  • to carry on business as consultant in respect of land development.

  • to enter into joint ventures in connection with any one or all of the aforementioned objects.

Name: Green Oak Investment Company Limited

Date of Incorporation: 17 April, 2014

Sector: Development/Investment

Parent Ministry: Office of the Vice President

Business type: Company

Mandate: 

  • to purchase, own lease, develop and manage immovable properties.

  • to carry on business as developer of land

  • to construct, purchase, own, lease, manage and sell buildings of all kinds, including but not limited for use as offices, private residences, commercial premises and tourism establishments.

  • to promote the development of land and construction of buildings for all type of use.

  • to carry on business as consultant in respect of land development.

  • to enter into joint ventures in connection with any one or all of the aforementioned objects.

Green Tree Investment Company Ltd Memorandum

audited financial statements