Established on 18th December 2000, Fuel Supplies Maldives pvt ltd was founded as a subsidiary of STO to choose private companies to form partnerships in specialized lines of services. Innumerable opportunities thereby opened for private parties to take advantage of STO's vast experience, knowledge and influence as one of the oldest-established trading entities in the Maldives.
It was the need for a unique fuel distribution system that triggered the constitution of FSM. Hence, STO looked into the prospects of forming partnerships with the distributors then. STO invited most of the distributors for a screening process through which, Vara Maldives pvt ltd and Royal Enterprises pvt ltd were chosen.
It was envisioned that all three entities coming together had the potential to develop a powerful distribution network offering better rates than previously to the clients. Furthermore, the combination would expand the fleet of vessels that would shape the core function of the company. The venture would create incomparable competition among the service providers while challenging the quality of the service to be improved and would also set new trends for corporate businesses with a global view.
