State Trading Organisation (STO)

After allowance cuts, STO promises higher ‘incentive-based’ pay

The state-owned wholesaler announced a review of its pay structure in the wake of the media reporting that staff allowances and working hours will be reduced on October 21 as a cost-cutting measure.

State wholesaler appeals to recover US$1.2m from PPM MPs’ company

The State Trading Organisation has appealed a civil court ruling in favour of a company owned by ruling party MP Riyaz Rasheed to recover MVR19.3 million (US$1.2 million) released as a credit facility.

STO reassures shareholders after merger with debt-ridden fisheries company

The State Trading Organisation, the largest state-owned enterprise and the country’s primary wholesaler, has assured its shareholders that a merger with the debt-ridden state fisheries company will not result in losses.

Police seize 2kg of drugs from state-owned cargo boat

Police officers raided STO’s MV Bonthi boat with a search warrant while it was anchored near the uninhabited island of Vakkaru in Baa atoll yesterday.

STO head assures oil imports problem will be resolved

State Trading Organisation stops rationing of oil supplies

Diesel fuel rationed after STO shipment delayed

Addu International Airport Company outsources dredging and reclamation of Gan International Airport

STO puts resort development plans on hold

Withdrawing US$1.2 million case against Meridian Services “a mistake”, says STO