There are several versions in Maldivian folklore about the story of Koimala. The legend is believed to have been built around a real story. Our latest research indicates that Kaimal is a title given to certain Keralese noblemen. Kalo is a suffix that used to be appended by Maldivians to the names of those held in the greatest esteem. Therefore, Kaimala (Maldivian pronunciation) Kalo refers to a dignitary. Based on this information we can now conclude that Kaimala Kalo was a person called Kaimal who hailed from a distinguished family of Kerala. It is likely that he came to the Maldives together with his family and retinue and settled at Rasgetheemu in Raa Atoll. And as the legend goes, it is possible that Maldivians of that time found out who he was and invited him to come to Malé and then pronounced him king. The title of Kaimala Kalo may have been given to him out of respect.

According to the record in the Isdhoo Loamaafaanu (copper plates), which was written in 1194 AD, the first king of the Theemuge Dynasty extended his rule to cover the entire Maldives. The writing suggests that the king united the entire country under his rule, bringing to an end a number of fiefdoms throughout the country. The first king of the Theemuge Dynasty is known as Sri Mahabarana and he is believed to be Kaimala Kalo. Sri Mahabarana was proclaimed king in the year 1117 AD or 1118 AD.