MIMCOL was set up in 1988, originally with the primary aim of rationalising the portfolio of investments held by the Government of Malta at the time through a comprehensive management, restructuring and divestment (divestment) programme.
Starting off with a portfolio of some 80 government investments it immediately embarked on identifying and addressing the major problems pervading these companies.
A number of non-viable companies were immediately closed down and put into liquidation, whereas others with commercial potential were hived off to the private sector. The remaining companies, which were deemed unripe for privatisation or considered of a strategic national interest, remained within MIMCOL’s remit. Several of these companies have, since then, undergone extensive reorganisation and restructuring with the aim of improving their financial and operating performance whilst still satisfying any obligations of a social and public interest nature. Over time, MIMCOL’s scope of activities evolved beyond the management of its own portfolio of investments as its extensive experience and technical expertise were increasingly recognised and drawn upon by various Ministries and Government agencies. As MIMCOL looks to the future, some of the key elements to ensuring its continued success will revolve around the development of a more robust and strategic Human Resources function, the continuation and creation of new start-up initiatives, and the introduction of revenue generation and cost control strategies.