The intent of this column is to invite TEAM MTCC to take part in the fight against corruption, whether petty thievery, grand larceny or misuse of company resources that are taking place at all levels of management here at MTCC. Please expose the lack of moral soundness shown by the middle & senior management of MTCC. All contributions to this column should comply with the code of ethics of this blog.

Corruption is essentially termed as an “impairment of integrity, virtue or moral principle; depravity, decay, and/or an inducement to wrong by improper or unlawful means, a departure from the original or from what is pure or correct, and/or an agency or influence that corrupts. Corruption, when applied as a technical term, is a general concept describing any organized, interdependent system in which part of the system is either not performing duties it was originally intended to, or performing them in an improper way, to the detriment of the system’s original purpose.

Corruption is now recognized to be one of the world’s greatest challenges. The rapid development of rules of corporate governance around the world is also prompting companies to focus on anti-corruption measures as part of their mechanisms to protect their reputations and the interests of their shareholders. Their internal controls are increasingly being extended to a range of ethics and integrity issues and a growing number of managers are looking to these controls as evidence that the companies undertake good business practice and are well managed.

MTCC being a PLC should be working towards maximizing the shareholders wealth rather than making investments on which a loss is inevitable while making management decision that are detrimental to the company as a whole. To work towards maximizing the shareholders wealth MTCC should have proper internal controls that should be reviewed at proper intervals according to the way we work and the developments in the working environment. It should be the duty of the internal Audit department to monitor these controls and devise new controls to combat misuse of company resources and corruption.

At present I feel that the internal controls that are laid down by MTCC are insufficient and incompetent to combat corruption and misuse of company resources. Don’t you?


3 ޚިޔާލުތައް (+add yours?)

  1. Bafayaa
    ފެބުރުއަރީ 17, 2009 @ 22:35:45

    We are sick and tired
    Of being promised this and that.
    We work all day, we sweat and slave
    To keep some seniors fat.
    They fill our heads with promises
    And bamboozle us with facts,
    Then they put on false sincerity
    Then they laugh behind our backs.

    Money and Corruption
    Are ruining our lives
    Crooked directors
    Betray the working man,
    Pocketing the profits
    And treating us like sheep,
    And we’re tired of hearing promises
    That we know they’ll never keep.

    Promises, promises, all we get are promises.
    Show us a man who’ll understand
    us, guide us and lead us.

    We are sick and tired
    Of having to ask them cap in hand
    We crawl on the floor
    We beg for more,
    but still we are ignored.
    We’re tired of being herded
    Like a mindless flock of sheep
    And we’re tired of hearing promises
    That we know they’ll never keep.

    We’ve got to stand together
    Every woman, every man,
    Because money and corruption
    are ruining the office.
    Show us a man who’ll be our
    Saviour and will lead us.
    Show us a man who’ll understand
    us, guide us and lead us.

    Will you be our man?
    Who will work out a strategic plan
    So we will support & get you through
    And we will save this office
    And we will devastate the
    corrupted bstards
    And all the directors will
    be answerable to you,
    There’ll be no shirking of responsibilities
    So employees of the company unite.


  2. Bafayaa
    ފެބުރުއަރީ 15, 2009 @ 14:08:10

    Oh my Lord! Corruption is everywhere in this tiny organization. From the very bottom to the top, most of the employees are corrupted. No matter how small the amount is.. they would do it for you if you have the courage to throw few tips to them. These bstards are so cheap and they don’t have any decency or self morality. Let’s look at TSD, a small non profitable Department ( for a very long term). Most of the securities and the lower level staff are tied up with corruption hence they are teamed up with their heads. So they have enough covers and there is no way to look into the real problem. It is disgusting to find out that the power is returning to the old thieves; who have destroyed the reputation of the company with their filthy deeds.
    Forgive me my lord. Save this company from the people who are selfish and immoral. Don’t let this organization be ruined with their filthy actions.


  3. Fenkahkaa Boli
    ފެބުރުއަރީ 15, 2009 @ 02:11:22

    well about the internal audit, they have no other choice than keep quiet. some says XBOSS has permitted I.A head to work on any other firm after 14:30…

    can u imaging a single person with a fat salary, provided 3 bedroom paid appartment with living allowance allowing to work with others firms just after the offical hours.Definitley it is a damn good compensation. Worst thing is even this lucky fella is an expatriate. Well i am not descriminating any…


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