SIBCO (Private) Limited completed 4 years of incorporation of the company on the 10th of January 2010. The entire staff headed by the chairman celebrated the anniversary with the launch of Plan 2020 for the Company at a staff gathering held at Champa Central recently.
“Having chaired a large group of Companies for more than 20 years, it was back to square one again with a support of a single assistant 4 years ago and It is amazing to think about it now and we are here today with more than 50 people”, the chairman noted. Yes, we are still an SME Company, but we are unstoppable and a very fast growing Company by the grace of the almighty, he emphasized in his opening address to the staff.
The Company has recorded significant growth over this short period of time with three branches including its Baazaar Shop at a prime location in the capital Male’ and the wholesale and two retail outlets in Addu and Fuvahmulah.
The business operation was started with a few premium brands Almudhish Milk Powder from Oman Foods, Japanese brand of MamyPoko diapers supplied by Unicharm of India, Falak basmati rice from MATCO of Pakistan and the world renowned brand Duracell batteries. Today SIBCO has expanded its range of milk powder from Oman Foods to cater to different market segments with FRESH and SUROOR. The Company added a range of UHT milk with Goodday, Dairy Champ sweetened condensed milk along with a premium quality RTD Wonda Coffee from Etika of Malaysia and a range of tissues and napkins with accessories from Selpak of Turkey. More brands are to be added to the portfolio in the coming months.
SIBCO also has set up a resort supply unit which is fully functional since September 2019, and catering to the segment with all food supplies requirements.
As per the Company’s Plan 2020, the 5th year of operation, SIBCO is fully geared to expand into other regions country and unique distribution channels to exploit the opportunities as a growing Company.
Mohamed Shaweed, the Chairman, speaking at the event thanked (on behalf of the board of directors) all the Suppliers around the globe, valuable customers, wholesale and retail dealers, staff who contributed directly and indirectly the Company to grow to the position where it is today and the present management team and the staff for planning and preparing the team for a higher performance in 2020 and beyond. A detail plan for a performance based incentive scheme for the staff was also announced at the gathering. SIBCO also has advertised to recruit more sales and operational staff to support the expansion plan.