Business Career
In 1969, Qasim Ibrahim began his career as a clerk at the Government Hospital in Malé. In 1973, he left his job in the Government Hospital and took up an appointment as Manager at M/S Alia Furniture Mart. Subsequently, he worked for Crescent, a trading organisation, for a short period.
In 1974, he joined an outlet of the Maldivian Government Bodu Store, presently known as the State Trading Organisation. Two years later, he 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 (Villa). 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) Pte 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.
Villa Hotels, Tokyo and Villa Hotels, Hong Kong were established in 2001 and 2002 respectively.
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