Qasim Ibrahim
| Qasim Ibrahim | |
|---|---|
 |
|
| Born |
August 30, 1951 Didhdhoo, Alif Dhaal Atoll, Maldives. |
| Education | Honorary Degree, Doctor of Entrepreneurship |
| Alma mater | Open University Malaysia |
| Occupation | Chairman & Largest Shareholder of Villa Group |
| Years active | 1986–present |
| Net worth | US$600 Million |
| Spouse(s) | Rabia Hussain |
| Children | Ibrahim Qasim |
Qasim Ibrahim (also known as Buruma Qasim) is an Maldivian business magnate, philanthropist and politician. In 1986, Ibrahim founded Villa Shipping and Trading Company Pvt. Ltd, the Maldives largest private conglomerate company. Ibrahim is the chairman, and largest shareholder of Villa Group, and is one of the wealthiest businessman in the country. He does his philanthropic activity through Villa Foundation, an philanthropic organisation, which helps Maldivians with Health and Educational difficulties by offering medical assistance and scholarships.
He ran as the presidential candidate of the Jumhooree Party in the 2013 elections, losing in the first round.
Ibrahim began his career in 1969 as a clerk at the government hospital in Malé. In 1973 he left the hospital to work as manager at M/S Alia Furniture Mart. Subsequently, he worked for Crescent, a trading organisation of the Government, for a short period.
In 1974 he joined an outlet of the Maldivian government's Bodu Store, now known as the State Trading Organisation. Two years later, he set up his own trading business in commodities such as rice, tobacco, diesel and kerosene, which proved to be profitable and the business experienced rapid growth. He later expanded his business with a small loan of US$2,000 from State Bank of India (SBI), which is still his primary banker.
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 with substantial national share in diverse industries such as tourism, transport, construction, manufacturing, Gas, Cement trade, Media and Communication, in addition to general trading, with Sole Distributorships of international products. Shell and Agfa are among the brand names represented by Villa in the Maldives.
The shareholders of the holding company, Villa Shipping & Trading Company Private Limited (VSTC) are Qasim Ibrahim and one of his wives, Rabia Hussain, holding 95% and 5% respectively. For strategic reasons, Villa Shipping (Singapore) Pte Limited was incorporated in Singapore on December 19, 1991, a 100% subsidiary. The paid up capital by Villa Shipping (Singapore) now stands at S$500,000.
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