The Company derives its name from Furahani Ali Manik, the late father of the two brothers, Mohamed Ali, and Ahmed Ali who are the founders.
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 stakeholders 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.
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. The business grew slowly and steady for the first four years and later on paved the way for further expansion due to the increased in the demand for ICS’s services. ICS’s services comprised of mostly computerization and consultancy projects of which the former required rigorous user level and administrator level training for the various softwares marketed by ICS. This, combined with the incessant demand for other short and long term training programmes necessitated the separation of its training activities as an autonomous facility. 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. MAPS now runs diverse study programmes ranging from Certificate to Advanced Diploma from hospitality to IT, and business. In tune with the nature of tertiary education programmes that MAPS provides, the name of the institute has now been changed to MAPS Institute.
Further to the decision to streamline the activities of the various companies under FALIM, ICON Investments Private Limited was constituted and registered in July 2001 with the principal objective of operating as an IT products and services company in the Maldives. The major activities of the company then included reselling 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 was appointed as the Business Partner for the world renowned Hewlett Packard brand of products in the Maldives in early 2005. Now ICON arguably controls more than 30% of the PC and servers market and close to 50% of the HP consumables market in the Maldives. In a strategic move to establish ICON’s presence in the neighbouring countries and with a view to integrate better with regional markets ICON has now set up a full fledged HP showroom and Administrative office at Galle Road in Colombo.
The country’s excessive dependence on tourism and the frequency with which FALIM and its subsidiaries had to interact with the tourism sector greatly exposed us to the business openings in the tourism sector. This eventually paved the way for our start up as a tour operator company and subsequently a fourth company namely, Moodhu Holidays Private Limited was registered in April, 2005 with the primary objective of marketing and sourcing tourists from the rest of the world in to the various resorts in the Maldives.
The demand for customized software development in the Maldives has been a unique phenomenon which FALIM had been following quite closely for the past several years. The strengths of the company in other areas such as sales and support for POS and other accounting related software like 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. Subsequently, a fifth company was registered by the name Workflow Technologies International (WTI) Private Limited in July 2005.
Established in 1996, FALIM Group Private Limited is an investment and management company incorporated in the Republic of Maldives with investments in a diversified range of business segments in the Maldives and abroad.