Villa Group
Encyclopedia
Villa Group or in trade name
Villa Shipping and Trading Company Pvt. Ltd is a private conglomerate located in Maldives
. It is often considered as the largest private business in the Maldives with major operations in Shipping, Import and Export, General Trade and Tourism related Businesses. Foundation of Villa Group can be traced back to 1986 when Qasim Ibrahim
registered a Shipping and Trading company named Villa.
set up his own trading business, with an initial borrowed capital of US$2,000 from Ilyas Ibrahim
, which was then equivalent to 30,000 Maldivian Rufiyaa. He traded in commodities such as rice, tobacco, diesel and kerosene, which proved to be profitable, and the business experienced rapid growth. Ilyas Ibrahim, who was then the head of STO, allegedly handed several back-door deals allowing Qasim Ibrahim to expand his business.
After four years, Ibrahim was able to purchase his first shipping vessel, an old fishing vessel converted to carry cargo and oil, to facilitate oil imports. By April 14, 1986, Ibrahim's business was registered under the name of Villa Shipping and Trading Company Limited
. Since then, the company has diversified its business to include tourism and inter-island marine transport. In addition, the company trades in an increasing number of products in the Maldives. Shell and Agfa are among the brand names represented by Villa in the Maldives, as a sole agent.
On the registration the shareholders were Ibrahim and Rabia Hussein, holding 95% and 5% respectively of the share capital. For strategic reasons, Villa Shipping (Singapore) Private Limited was incorporated in Singapore on December 19, 1991, with Villa holding a major interest. The paid up capital by Villa Shipping (Singapore) now stands at S$500,000.
In October 1996, representative office, with the primary objective of promoting Villa resorts, opened in Frankfurt
, Germany. Constraints on the activities permitted through the representative office led to the creation of a company with wider objectives. Villa Holidays Touristik GmbH was incorporated by Ibrahim on 23 July 1997 with a paid-up capital of DM500,000. The company aims to act as a wholesaler for holiday packages to the Maldives
, an agent for sales of hotel rooms in the Maldives, sale of air tickets, and a vehicle for acquiring and trading of tourism related properties and real estate such as hotels and resorts worldwide.
In the year 2001 and 2002 Villa Hotels, Tokyo and Villa Hotels, Hong Kong were established respectively.
Trade name
A trade name, also known as a trading name or a business name, is the name which a business trades under for commercial purposes, although its registered, legal name, used for contracts and other formal situations, may be another....
Villa Shipping and Trading Company Pvt. Ltd is a private conglomerate located in Maldives
Maldives
The Maldives , , officially Republic of Maldives , also referred to as the Maldive Islands, is an island nation in the Indian Ocean formed by a double chain of twenty-six atolls oriented north-south off India's Lakshadweep islands, between Minicoy Island and...
. It is often considered as the largest private business in the Maldives with major operations in Shipping, Import and Export, General Trade and Tourism related Businesses. Foundation of Villa Group can be traced back to 1986 when Qasim Ibrahim
Qasim Ibrahim
Qasim Ibrahim is a businessman and politician in the Maldives.It has been claimed that he is also the wealthiest person in the Maldives, with a net worth of approximately $456 million in 2000, according to his interview for the Adduvas Weekly...
registered a Shipping and Trading company named Villa.
History
In 1976 Qasim IbrahimQasim Ibrahim
Qasim Ibrahim is a businessman and politician in the Maldives.It has been claimed that he is also the wealthiest person in the Maldives, with a net worth of approximately $456 million in 2000, according to his interview for the Adduvas Weekly...
set up his own trading business, with an initial borrowed capital of US$2,000 from Ilyas Ibrahim
Ilyas Ibrahim
[Ilyas Ibrahim] is the brother-in-law of the former President of the Maldives Maumoon Abdul Gayyoom. He was a minister in Maumoon's cabinet for a long time and served as the MP for Malé from 1980 to 1995...
, which was then equivalent to 30,000 Maldivian Rufiyaa. He traded in commodities such as rice, tobacco, diesel and kerosene, which proved to be profitable, and the business experienced rapid growth. Ilyas Ibrahim, who was then the head of STO, allegedly handed several back-door deals allowing Qasim Ibrahim to expand his business.
After four years, Ibrahim was able to purchase his first shipping vessel, an old fishing vessel converted to carry cargo and oil, to facilitate oil imports. By April 14, 1986, Ibrahim's business was registered under the name of Villa Shipping and Trading Company Limited
Villa Group
Villa Group or in trade name Villa Shipping and Trading Company Pvt. Ltd is a private conglomerate located in Maldives. It is often considered as the largest private business in the Maldives with major operations in Shipping, Import and Export, General Trade and Tourism related Businesses...
. Since then, the company has diversified its business to include tourism and inter-island marine transport. In addition, the company trades in an increasing number of products in the Maldives. Shell and Agfa are among the brand names represented by Villa in the Maldives, as a sole agent.
On the registration the shareholders were Ibrahim and Rabia Hussein, holding 95% and 5% respectively of the share capital. For strategic reasons, Villa Shipping (Singapore) Private Limited was incorporated in Singapore on December 19, 1991, with Villa holding a major interest. The paid up capital by Villa Shipping (Singapore) now stands at S$500,000.
In October 1996, representative office, with the primary objective of promoting Villa resorts, opened in Frankfurt
Frankfurt
Frankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...
, Germany. Constraints on the activities permitted through the representative office led to the creation of a company with wider objectives. Villa Holidays Touristik GmbH was incorporated by Ibrahim on 23 July 1997 with a paid-up capital of DM500,000. The company aims to act as a wholesaler for holiday packages to the Maldives
Maldives
The Maldives , , officially Republic of Maldives , also referred to as the Maldive Islands, is an island nation in the Indian Ocean formed by a double chain of twenty-six atolls oriented north-south off India's Lakshadweep islands, between Minicoy Island and...
, an agent for sales of hotel rooms in the Maldives, sale of air tickets, and a vehicle for acquiring and trading of tourism related properties and real estate such as hotels and resorts worldwide.
In the year 2001 and 2002 Villa Hotels, Tokyo and Villa Hotels, Hong Kong were established respectively.