The Beginning of STO

It was the early 1960's and the nation's socioeconomic outlook was not a very promising one. The population was a mere 100,000. The only communication with the outside world was the Morse code and the ham radio. The only airstrip was the one laid by the British RAF and the mode of transport between islands was limited to traditional sailing Dhoni. The only resource available was tuna. Consumers were at the mercy of importers. Even the most basic food items were expensive. The country had no banking service. Development was slow with no available funds for major investments and no commercial industry.

The need became more apparent for a central organization to import goods necessary to raise the living standards and encourage development. In 1964, a fully state-funded business was set up by the Maldivian government with one key mission to begin with: strengthening national food security. The main task of the company, then named Athireemaafannu Trading Agency (ATA), was to purchase and import essential food items in bulk to be distributed nationally via local traders and ATA's own retail outlets. ATA sold its imports to the public at low mark-up and also purchased supplies for the government.

ATA was the beginning of STO, and the catalyst for change in the Maldives. With proven success in contributing to national development, ATA matured to become the State Trading Organization (STO) on 9th June 1979. STO undertook all trading and commercial activity on behalf of the Maldivian government. The nation was growing and so were its demands. While remaining true to its original mission, STO expanded its imports, first to an increasing number of commodity items, and then on to modern construction materials, home appliances and consumer goods.

Around the time of STO's establishment, Maldivian economy started to pick up speed, fueled by increasing commercial activity mainly in fisheries, agriculture, tourism and construction industries. STO responded by looking beyond its traditional role of state trader. It began to take up alternative enterprises to earn foreign exchange and broaden the nation's revenue sources.

Building up on the background of solid commercial success, STO has streamlined its operations to where profit and viability matter as much as the need to ensure broad access to basic essentials at affordable prices. STO has become the dynamic organization demanded by a prosperous, rapidly developing country. With a diversity of businesses, STO stands testament to the country's economic potential.

STO group, with its subsidiaries, joint ventures and associates, is a national leader in business. It has significant and focused interests in petroleum, cooking gas, construction materials (including cement and roofing material), medical supplies and pharmaceuticals, home appliances, electronics, supermarket products and insurance. The company is geographically diverse with operations and developments throughout Maldives and operations in Singapore. This has been achieved by direct procurement and distribution as well as forming joint ventures to effectively trade in areas where it presents greater opportunity.

STO has set new focus to make a splash in the tourism sector. Ongoing and upcoming projects in this sector are designed to ensure STO becomes a big player in hospitality and start earning its foreign currency in the near future.

Enriching lives through expansion and accessibility.

  • Lead through expansion of existing businesses, diversification, exploring new possibilities and entering into new ventures.

  • Explore beyond our borders, expand our markets and establish ourselves as an international player, respected by the international business community.

  • Ensure accessibility with our presence nationwide; offer peace of mind and assurance to the public of uninterrupted provision and affordability of essential goods and services and those that contribute to a full filling modern lifestyle.

  • Build a skilled workforce by investing in human development; build our competencies, to achieve sustainable and unhindered growth and fulfill our vision.

  • Caring

  • Accessible

  • Respectful

  • Innovation

  • Progressive

STO Vision and Mission

Our Board of Directors is a team of professionals with years of experience and knowledge.

The Board of Directors makes all primary policy decisions for the company, and makes all official decisions about the direction, status, and mission of the company.

Board of Directors Member - Mr. Hussain Salim Mohamed  (Chairman)
Mr. Hussain Salim Mohamed
Board of Directors Member - Mr. Ahmed Shaheer (Managing Director)
Mr. Ahmed Shaheer
Managing Director
Board of Directors Member - Mr. Mohamed Mihad (Executive Director)
Mr. Mohamed Mihad
Executive Director
Chief Financial Officer
Board of Directors Member - Mr. Amir Mansoor (Director)
Mr. Amir Mansoor
Board of Directors Member - Ms. Aishath Rafiyya (Director)
Ms. Aishath Rafiyya
Board of Directors Member - Ms. Aishath Rayaheen Shareef (Director)
Ms. Aishath Rayaheen Shareef
Board of Directors Member - Mr. Mohamed Farshath (Director)
Mr. Mohamed Farshath

Our executive team leads the company with years of experience and knowledge in their respective fields. This group of goal-oriented, results-driven senior executives will guide the company to its next level of growth and success.

Mr. Ahmed Shaheer
Executive Team Member - Managing Director of STO
Managing Director
Mr. Mohamed Mihad
Executive Team Member - Mr. Mohamed Mihad (Executive Director / Chief Financial Officer - Finance)
Executive Director / Chief Financial Officer
Ms. Fathimath Ashan
Executive Team Member - Ms. Fathimath Ashan (Senior General Manager - Regional Sales, Food & Beverages)
Senior General Manager
Regional Sales, Food & Beverages
Dr. Ibrahim Mahfooz
Executive Team Member - Dr. Ibrahim Mahfooz (Chief Internal Auditor - Internal Audit)
Chief Internal Auditor
Internal Audit
Mr. Ahmed Shifan
Executive Team Member - Mr. Ahmed Shifan (Senior General Manager - Administration and Human Resource)
Senior General Manager
Administration and Human Resource
Ms. Aishath Shaffana Rasheed
Executive Team Member - Ms. Aishath Shaffana Rasheed (General Manager / Company Secretary - Company Secretariat)
General Manager / Company Secretary
Company Secretariat
Mr. Musthafa Azmy
Executive Team Member - Mr. Musthafa Azmy (Chief Information Officer - Information and Communications Technology)
Chief Information Officer
Information and Communications Technology
Ms. Mariyam Nuzla
Executive Team Member - Ms. Mariyam Nuzla (General Manager - Corporate and Legal Affairs)
General Manager
Corporate and Legal Affairs
Mr. Abdul Wahid Moosa
Executive Team Member - Mr. Abdul Wahid Moosa (General Manager - Construction Materials, Transport)
General Manager
Construction Materials, Transport
Mr. Mohamed Murad
Executive Team Member - Mr. Mohamed Murad (General Manager - Home Improvement and Service Centre)
General Manager
Home Improvement and Service Centre
Mr. Ramzee Aboobakuru
Executive Team Member - Mr. Ramzee Aboobakuru (General Manager - Energy, Staple Foods)
General Manager
Energy, Staple Foods
Mr. Hussain Sobaah
Executive Team Member - Mr. Hussain Sobaah (General Manager - Medical Services )
General Manager
Medical Services
Mr. Muslih Maseeh
Executive Team Member - Mr. Muslih Maseeh (General Manager - Business Development & Public Relations)
General Manager
Business Development & Public Relations
Mr. Mohamed Shujau
Executive Team Member - Mr. Mohamed Shujau (General Manager - Procurement - Essential Goods)
General Manager
Procurement - Essential Goods
Mr. Mohamed Nizam
Executive Team Member - Mr. Mohamed Nizam (Chief Risk Officer - Risk Management)
Chief Risk Officer
Risk Management
Executive Team Member -   ((temporarily managed by SGM Ms. Fathimath Ashan) - Regional Sales – Upper North)
(temporarily managed by SGM Ms. Fathimath Ashan)
Regional Sales – Upper North

Organizational Structure of STO