Thumbay Moideen featured on the cover of Forbes Middle East

[email protected] (CD Network)
February 4, 2016

Dubai, Feb 4: Mr. Thumbay Moideen, the Founder President of the UAE-based Thumbay Group has been featured on the cover of ‘Forbes Middle East’, one of the top finance and business magazines in the Middle East region. The cover story, titled “Healthy Choice” traces Mr. Thumbay Moideen’s business journey in the UAE starting from setting up the Gulf Medical University (GMU) in Ajman, to emerging as a prominent name in healthcare and medical education by establishing the leading network of academic hospitals in the country and making GMU one of the highest-in-demand private medical universities in the region.

Forbes

The cover story is a detailed account of how Mr. Moideen’s business acumen and confidence leads GMU and the Thumbay network of hospitals on the continuous path of growth and excellence. Forbes Middle East estimates his fortunes at $1.8 billion.

According to the article, GMU gets around 6000 student applications for just around 270 spots, every year. Since 2003, over 2000 students have graduated from GMU and presently, the student body is made up of 36% Arabs, 32% Asians and 22% Africans and the rest from Europe and Asia. It also has 162 faculty members from 22 countries, says the article. 22% of GMU graduates are admitted to US medical schools for further training. “GMU is part of a network of four pioneering teaching hospitals that now train 19% of doctors in the country and treat nearly 1,800 patients a day,” it says.

Mr. Moideen’s foray into healthcare, says the article, started with the setting up of a 200-bed teaching hospital in Ajman, in 2002. Two 60-bed hospitals, one each in Fujairah and Sharjah in 2011, and a 150-bed hospital in Dubai in 2015 followed. The Thumbay Hospital network reached several notches higher with the prestigious JCI accreditation it received in 2013.

The article also talks about Thumbay Group’s future plans such as the upcoming medical school project in Ghana, which is expected to open by 2017. Mentioning the opening of Thumbay Hospital in Hyderabad – India last year, the article goes on to say that Mr. Moideen plans to build hospitals in Saudi Arabia, Qatar, Mumbai and Bengaluru, next year. “He’s become a billionaire with plans to expand elsewhere in the Gulf and Africa,” it says. The article also features Mr. Akbar Moideen Thumbay, his elder son who manages the Healthcare Division of the Group as its Vice-President, while his younger son Mr. Akram Moideen Thumbay is the Director Operations of the Construction & Renovation Division.

From humble beginnings in 1998 when Mr. Thumbay Moideen migrated to the UAE from India, almost two decades since its inception, today, the Thumbay Group under his Presidency has grown into an international business conglomerate headquartered at DIFC-Dubai. Not only has he made a mark as a pioneer in his flagship businesses: education, healthcare and research, but he has also diversified his business across 13 different sectors and has established global presence. With the completion of the ongoing projects, the Group will employ 6000 people in the next two years, which will reach 15,000 employees by the end of 2020.

Comments

Abdul Hameed U…
 - 
Thursday, 4 Feb 2016

Feel proud of Mr.Muhyiddeen Thumbay.

Prof.M.Abubake…
 - 
Thursday, 4 Feb 2016

Congratulations. Sir. May Almighty Allah keep you and your family members with the best health and long life. ameen.

Brother
 - 
Thursday, 4 Feb 2016

Humble Request... to our Rich Thumbay Moideen...
CAN U Visit the POOR of Mangalore & improve the lives of the POOR muslims and non muslims. Who expect U to follow the teachings of Prophet Muhammad to look after the poor just like the rich Sahabas did ? without business purpose. May Allah reward U more.

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News Network
January 1,2020

Bengaluru, Jan 1: Elaborate security arrangements have been made in view of Prime Minister Narendra Modi's two-day visit to Karnataka on January 2 and 3, officials said.

The Special Protection Group officials had a meeting with state government officials, especially the police regarding the security arrangements.

During his stay in Tumakuru, drones will not be allowed and anybody violating the direction will face stringent action, said a notification issued by Deputy Commissioner of the district Dr Rakesh Kumar.

According to the tour itinerary, the Prime Minister will reach Bengaluru on January 2 and fly to Tumakuru by a helicopter to visit Sri Siddaganga Math.

PM Modi will later take part in the Krishi Karman Awards function at the Junior College grounds where he will address a gathering and distribute fishing equipment, a government press release said.

The same evening he will return to Bengaluru to visit the Defence Research and Development Organisation. He will stay at the Raj Bhavan.

The next day, the Prime Minister will inaugurate the 107th Indian Science Congress at the Gandhi Krishi Vignana Kendra Campus at the University of Agricultural Sciences in Bengaluru, before flying to New Delhi in the afternoon.

To oversee the arrangements, Chief Minister BS Yediyurappa visited Tumakuru on Tuesday and held a meeting with officials.

Speaking to reporters later, Mr Yediyurappa said PM Modi will reach Siddaganga Math at 2.15 p.m where he will pay his obeisance to the seer there.

He will be in the town till 5.30 p.m on January 2, he added.

"Later, he will take part in the Krishi Karman and Krishi Samman Awards function which about 1.5 lakh people are likely to attend. He is going to give awards to 28 progressive farmers from 21 states," said the Chief Minister.

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News Network
March 30,2020

Bengaluru, Mar 30: Chief Minister B S Yediyurappa on Sunday convened an all-party meeting and apprised the Opposition leaders about the measures taken by the government to contain the coronavirus in the state.

"I have been regularly holding meeting since March 13 regarding the measures taken to contain the transmission of COVID-19," the chief minister said at the meeting at the Vidhana Soudha.

Health Minister B Sriramulu, Medical Education Minister Dr K Sudhakar, IT-BT Minister C N Aswath Narayan, Deputy Chief Minister Laxman Savadi, former chief minister and Leader of the Opposition Siddaramaiah, Opposition MLAs H D Revanna, D K Shivakumar and former speaker K R Ramesh Kumar attended the meeting.

The chief minister said a task force comprising ministers and officials has been formed to oversee the implementation of the government orders.

Yediyurappa highlighted the prevailing situation across the globe saying that normal life had been paralysed everywhere.

The chief minister also apprised them about the number of clinics all over the state, availability of medicines and protection gear for the doctors and quarantine rooms in the state.

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News Network
March 5,2020

Bengaluru, Mar 5: Karnataka is facing unprecedented economic difficulties following a Rs 8,887 crore reduction in the state's share in central taxes, cut in allocation under 15th finance commission and a Rs 3,000 crore hit in GST compensation, Chief Minister B S Yediyurappa indicated on Thursday.

Presenting the state budget for 2020-21 in the Assembly, he said Karnataka's share in central taxes has come down by Rs 8,887 crore in 2019-20 as per the revised budget estimates of the central government. Therefore the state's revenue resources have been reduced. Apart from this, Rs 3,000 crore GST compensation will also be reduced as collection from the GST compensation cess is not as expected, the Chief Minister said. "With all this it has become difficult to reach to reach the 2019-20 budget targets and to manage this situation within the bounds of the Karnataka Fiscal Responsibility Act, an inevitable situation has arisen this year to cut down the expenditure of many departments," he added.

As per the interim report submitted by the 15th finance commission, there is a reduction in the state's share of central taxes to 3.64 per cent compared to 4.71 per cent fixed by the 14th finance commission. In view of this, there will be a reduction of Rs 11,215 crore in the state's share of central taxes in 2020-21 budget, when compared to the previous one.

He, however, noted that the allocation recommendation of the 15th finance commission is limited to one year only and the complete report for the period 2021-22 to 2025-26 will be submitted in October 2020.

"Our government will soon submit a revised memorandum to the commission to set right the loss caused to the state with regard allocation for the year 2020-21 and give more allocation for the remaining period," the Chief Minister said. He also said, when compared to the previous year, there is an increase of approximately Rs 10,000 crore for 2020-21 with regards to government employees salary, pension and interest on government loans, but there is no proportionate increase in resources as compared to committed expenditure. "Due to this reduction of the state's share of central taxes as per the 15th finance commission report and other developments, serious difficulties are being faced in resource mobilisation efforts of the state," Yediyurappa said. "This magnitude of economic difficulties was never faced in the previous years by our state," he added.

However, the state's own tax revenue collection is excellent during this year, he said. As compared to the previous year, there is a growth of 14 per cent in State GST collection. "Based on this, in the new budget, efforts are being made to manage the reduction in the share of central taxes by stabilising the state's own resources more", the Chief Minister said.

Karnataka recorded a gross state domestic product growth rate of 7.8 per cent in 2018-19 and Yediyurappa said for the current financial year it is estimated to be 6.8 per cent.

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