Frequently Asked Questions

Questions | Frequent Questions & Answers

Frequently Asked Questions


1. When was STO incorporated and when did STO become a public listed company?


STO was incorporated as a Government company, Athireemaafannu Trading Account, on 20th December 1964 and was renamed as State Trading Organization on 09th June 1979. On 14th August 2001, State Trading Organization became a Public Limited Company.


2. What are STO's areas of operation?


STO is a trading company operating under the 10/96 Companies' Act of the Republic of Maldives. STO's main areas of business include, home electronics, supermarket, construction materials, staple foods, fuel and medicals. STO is also engaged in insurance, gas, structural products and cement manufacturing.


3. Five-year revenue and net profit?


Company


2014
Revenue MVR 8,923,127,481
Net Profit MVR 469,749,792
2013
Revenue MVR 10,782,422,632
Net Profit MVR 126,920,760
2012
Revenue MVR 9,058,761,121
Net Profit MVR 157,650,479
2011
Revenue MVR 6,826,202,881
Net Profit MVR 146,618,730
2010
Revenue MVR 4,015,107,365
Net Profit MVR 118,904,199

Group


2014
Revenue MVR 9,171,144,489
Net Profit MVR 479,927,678
2013
Revenue MVR 11,129,746,585
Net Profit MVR 164,642,378
2012
Revenue MVR 9,293,247,144
Net Profit MVR 238,821,091
2011
Revenue MVR 9,464,824,457
Net Profit MVR 192,378,611
2010
Revenue MVR 4,742,312,414
Net Profit MVR 142,981,270

4. Does STO hold shares in any other company?


Yes. Below is a list of companies that STO hold shares with the percentage of shares held.

Maldive Gas pvt ltd (90.00%)

Allied Insurance Company of the Maldives pvt ltd (99.99%)

STO Maldives (Singapore) pte ltd (99.99%)

Fuel Supplies Maldives pvt ltd (99.99%)

Maldives National Oil Company ltd (99.99%)

STO Hotels & Resorts pvt ltd (99.99%)

Maldives Structural Products pvt ltd (50.00%)

Lafarge Maldive Cement pvt ltd (25.00%)

Addu International Airport pvt ltd (10.00%))


5. Where is the registered office of STO?


State Trading Organization plc

Boduthakurufaanu Magu

Maafannu

Malé - 20345

Republic of Maldives


6. When does STO's financial year end?


31st December of every year.


7. Who are STO's independent auditors?


KPMG Rhode Ford and Thornton since 2014.


8. What exchange does STO stock trade on?


At Maldives Stock Exchange


9. When is the dividend declared?


At the Annual General Meeting.

Year EPS DPS
2001 128 105
2002 137 118
2003 141 110
2004 102 70
2005 115 55
2006 122 82
2007 126 70
2008 138 65
2009 124 68
2001 128 105
2010 106 68
2011 130 72
2012 140 75
2013 113 24

10. When is the AGM held?


AGM is held within the first 5 months of every year.


11. What are the shareholders voting rights at AGM?


One of your key rights as a shareholder is the right to vote your shares at the Annual General Meeting. Shareholder voting rights give you the power to elect directors, elect auditors, and pass other important items in agenda at annual or special meetings. Hence also making your views known to company management and Directors on significant issues that may affect the value of your shares.


12. How do I know when to vote?


STO will set and announce a "holder of record date." Investors who own the company's shares on that record date have the right to vote and be eligible for that year's dividend. This announcement along with proxy form will be made available on website and from Head Office reception, closer to AGM.

This form will have to be submitted to STO, 24 hours prior to the AGM.


13. How do I vote at the AGM?


According to the Articles of Association, shareholders may vote at an annual or special meeting. However, since most people live hundreds of miles away and/or are too busy to attend, Articles permit shareholders to vote by "proxy" without being present in person. When you vote by proxy, you are authorizing someone (need not be a member of the Company) to vote according to your wishes at the meeting.

However, you cannot appoint the Chairman or any other Board Director as your proxy to the meeting.


14. How is vote counted?


Upon attendance to AGM, you will be provided a voting board, along with other materials for the meeting. This Board will include the no. of shares held by you on one side, while the no. of shareholders you represents displayed on the other side. This will also include proxy details that you represent.

According to the Articles of Association, voting will be counted as one share one vote (no. of shareholders) unless 10% of the company shareholders request for poll.


15. How is STO stock traded?


STO shares can only be traded from the stock exchange through a broker. You may view available share trade prices from the Equity Trading Board of Maldives Stock Exchange.


16. Who do I contact regarding share certificates, dividend inquiries, lost certificates or Communications with the Board of Directors?


Company Secretariat

cs@stomaldives.net

State Trading Organization plc

Boduthakurufaanu Magu

Maafannu

Malé 20345

Republic of Maldives

Tel: 3344383 / 3344373

Fax: 3344533

You may either email, call or submit your concern through the “raise your concern” facility provided online.


17. Who do I conact for general information of STO and its businesses?


Managing Director's Bureau

State Trading Organization plc

Boduthakurufaanu Magu

Maafannu

Malé 20345

Republic of Maldives

Tel: 3344 395/ 3344 300

Email: mdbureau@stomaldives.net


Copyright © State Trading Organization plc. All rights reserved.

STO Head Office Building, Boduthakurufaanu Magu, Maafannu, Malé 20345, Republic of Maldives
Tel: (960) 3344 333