STO - Latest Stories

STO slashes petrol, diesel price

State Trading Organization (STO) has slashed 43 laari from a litre of petrol and 41 laari from a diesel litre with effect from Tuesday.

April 23, 2013 1 comment
MACL pays $7.5 m to STO for GMR's fuel dues

Maldives Airports Company Limited (MACL) has paid USD7.5 million owed to State Trading Organization (STO) for supply of jet fuel during the time India's GMR Infrastructure operated Ibrahim Nasir International Airport (INIA).

March 04, 2013
Mohamed Ibrahim axed as MD of MACL

President Mohamed Waheed Hassan Manik has removed Mohamed Ibrahim from the Managing Director's post of the Maldives Airports Company Limited (MACL) and appointed a new MD.

December 20, 2012 2 comments
State budget being managed from STO cash flow

Auditor General Niyaz Ibrahim has revealed that a large part of the State budget is being managed from the cash flow of State Trading Organization (STO) and five land plots have been sold to the state-owned company to settle overdue payments.

December 20, 2012
STO Singapore Company restarts oil trade

State Trading Organization (STO) Singapore based company has recommenced its oil business after a lapse of more than a year.

October 20, 2012
Committee to restart inquiry into oil deal

The parliamentary National Security Committee is to recommence in its inquiry into the alleged USD800 million illegal oil trade carried out by Mulak constituency MP and former Chairman of State Trading Organization (STO) Abdulla Yamin.

October 17, 2012
STO to open outlet for repair services

State Trading Organisation (STO) has revealed of efforts are underway to launch an outlet to offer repair services to three of their brands.

August 21, 2012
Shareholders advised to review annual reports

The Capital Market Development Authority (CMDA) has advised shareholders to review the annual report of companies.

August 21, 2012
Utility companies owe STO MVR350 million

State Trading Organisation (STO) on Thursday said that the unpaid oil bills from the utility companies formed during former President Mohamed Nasheed's government, add up to MVR350 million.

August 16, 2012
Government reconsiders dialogue with MDP

The government has decided to reconsider its decision to appoint Vice President Waheedeen as the representative of the government in talks to resume parliament sittings under a more peaceful environment to regulate work.

August 11, 2012 1 comment