Company Background
The Company derives its name from Furahani Ali Manik, the late father of the two brothers, Mohamed Ali Manik, and Ahmed Ali Manik, who are the shareholders of the Group. FALIM was incorporated in 2001 as it was deemed necessary to consolidate the various activities undertaken by the different companies under a common policy framework and at the same time streamline the various investments of the group.
The Journey’s Beginning
In 1996 Mohamed Ali Manik established Insight Consultancy Services (ICS) as a partnership between the two brothers, which, at that time was the only business consultancy firm in the Maldives. Following 4 challenging years of steady and sustained growth, ICS expanded further in order to better cater for the increased demand for the services they provided. ICS specialized in offering services of computerization and consultancy for projects; of which the former required rigorous user level and administrator level training for the various software marketed by ICS.
Commitment to the Education Industry in Maldives
The incessant demand for different short and long-term training programs necessitated the segregation of its training activities as an autonomous institution. Concurrently, it was also decided to consolidate the activities of the then ICS Mobile Training Centre which was constituted to cater to the specific training needs of ICS as a standard training center in Male’. Subsequently, the Modern Academy for Professional Studies (MAPS) was registered as a full-fledged training facility at the Ministry of Education in July 1999. Today, MAPS Maldives Private Limited is comprised of MAPS College and MAPS International High. MAPS College is one of the most acclaimed educational institutes in Maldives offering diverse and flexible study programs ranging from Certificate to MBA from Hospitality to IT and Business studies. MAPS International High offers A’ level programs and BTEC courses in various fields that are work-based learning programs.
The Inception of FALIM Group Private Limited
Following the inception of ICS and MAPS, and further to the decision to streamline the activities of the various companies under a single parent company – FALIM Group Private Limited was incorporated in January 2001 with ICS and MAPS as subsidiaries. They were soon joined by ICON Investments Private Limited, which was constituted and registered in July 2001 with the principal objective of operating as an IT product and services company in the Maldives. The major activities of the company at the time included retail of IT products such as branded and unbranded computers, servers, and other accessories and consumables. A service center was also established to cover the customer support and after-sales related activities of the company.
ICON Computers Brings About the IT Revolution in Maldives
ICON was appointed as the Business Partner for retail and wholesale of the world-renowned Hewlett-Packard (HP) brand of products in the Maldives in early 2005. During this period, ICON undisputedly controlled more than 30% of the PC and servers market share and close to 50% of the HP consumables market share in the Maldives. In a strategic move designed to establish ICON’s presence in the neighboring countries and with a view to integrate better with regional markets, ICON set up a full-fledged HP showroom and Administrative office at Galle Road in Colombo. However, down the line, all of ICON’s operations were temporarily suspended to effectuate a significant restructuring of its operations.
FALIM Enters the Travel & Tourism Industry
Meanwhile, the tourism industry was booming and the frequency with which FALIM and its subsidiaries had to interact with the tourism sector served as an invaluable exposure into the trade. Eventually, Moodhu Holidays Maldives Pvt Ltd. was established in April 2005 as a tour operator, marking FALIM Group’s entry in to the Travel and Tourism Industry in Maldives. The primary objective of the Company consisted of marketing and sourcing tourists from the rest of the world in to various resorts in the Maldives. In the present-day, Moodhu Holidays Maldives is a renowned and leading Tour Operator in the country, having won a number of accolades and awards such as SATA 2016’s and 2018’s Leading Tour Operator Awards.
FALIM Develops its Software Development Portfolio
Through FALIM’s market researches, analyses on different business markets and trends in Maldives it was observed that there was an upsurge in the demand for customized software development in the Maldives. The strengths of the Company in areas such as sales and support for POS and other accounting related software such as Retail Pro, QuickBooks, Tally, and ACCPAC provided an enabling environment for the development of a new division to develop custom-made software based on specific client requirements. To accomplish this objective, a fifth company was registered by the name Workflow Technologies International (WTI) Private Limited in July 2005.
Foray into the Real Estate and Construction Industry
During the first quarter of 2007, FALIM also invested in the real-estate business with the development of a twelve story residential and commercial building on the north east side of Male’. The building proved to be an invaluable asset to the Group and today AMINA Residency is operated in this building. Shortly after the project was completed, FALIM Group decided to venture into the construction industry by incorporating HAZA Construction Private Limited as a subsidiary of FALIM Group in 2009. After a challenging yet instructive few years, HaZa is now one of the most profitable companies in the FALIM Group and a household name for residential construction in Maldives. In 2018, the Amina brand was expanded to include 8 properties which consists of 1 Guest House, 3 Office Spaces and 38 apartments with more poised to be added to the portfolio in 2019 and the years to come.
Other Notable Investments
Over the years, FALIM has also made a few other small investments in the period from 2007 to 2011. One of these investments include the acquisition of a Gulf Craft Touring 30 Launch and subsequent establishment of AMINA Marine to serve the sea transportation requirements of the Moodhu Holidays as well as other customers. Another investment was in the first exclusive toys store in the Maldives under the brand name of Toys World. Though three outlets were opened in various parts of Male’, they were recently cut back to just the main outlet in Henveiru after a few years of operation. FALIM also revived its early days experience in managing pharmacies by investing in chain of modern pharmacies under the brand name of Ten by Ten. A total of three outlets were opened in various locations in Male’.
AMINA PHILOSOPHY
The AMINA brand is inspired by the life of the late Aminath Aboobakur, a Maldivian famously and lovingly known by the name Amina in and around her neighbourhood, in Male’, Maldives.
Amina was a single mother who raised three daughters and two sons by taking various jobs from wealthy households. She worked tirelessly during the day cleaning floors, preparing meals and washing clothes, and stayed awake at night to take care of the elderly. She had the larger part of her life filled with challenges and hardships, yet remained cheerfully content. She was hospitable, simple and clean: and so is the AMINA brand, where all the services are inspired by her life and her aspirations to make life better for everyone around her.
The AMINA brand delivers inspiration from her to all the members of the AMINA family. All our guests are welcomed from our hearts, just like Amina herself did throughout her life. That’s her legacy and that’s AMINA!
Late Aminath Aboobakuru
A unique Lounge Concept
Amina Premium Lounge is an exclusive members-only lounge located on the 11th floor of Amina Residency. The lounge operates on a distinctive model that restricts access to members only, ensuring an unparalleled level of service and privacy. Membership to the Amina Premium Club is complimentary and is extended by invitation only from AMINA. As a member of the club, you’ll have access to a range of services and amenities designed to make your visit to Amina Premium Lounge even more comfortable and enjoyable.
Back to Basics with Qrocery
Drawing on FALIM’s extensive background in wholesale and retail operations, Qrocery was launched as a post-COVID investment with a strong focus on online ordering and home delivery, aimed at easing the challenges faced by local residents in accessing their daily grocery needs during the lockdown period.
Continuation of FALIM’s Contributions
FALIM continues to explore possibilities and opportunities to move forward in achieving its vision to invest in and operate diverse businesses that will contribute to enhance the quality of life of the common people and to share the fruits of its success with the society at large and in the process become a catalyst for the further growth of other businesses.