Brief Overview of Our Journey

A story of growth and innovation

The early days


State Trading Organization (STO) was established in 1964 by the Maldivian government as a fully state-funded business with one key mission: strengthening national food security. The main task of the company, then named Athireemaafannu Trading Account (ATA), was to purchase and import essential food items in bulk to be distributed nationally via local traders and ATA’s own outlets at low markup. ATA also imported supplies for the state.


ATA was renamed State Trading Organization in 1979, and soon “STO” became a household name throughout the Maldives. The nation was growing and so were its demands. While remaining true to its original mission, STO expanded its imports, starting with basic consumer goods, and then on to building materials, home appliances and supermarket products.


The organization today


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


Today, STO group with its partners, is a national leader in business with significant, diversified interests in petroleum, cooking gas, building material, healthcare, consumer electronics, supermarket products, insurance, fisheries, shipping, and bunkering. The company is geographically diverse with operations and developments throughout the Maldives and operations in Singapore.


Key milestones


1964 - Established as Athireemaafannu Trading Account (ATA)

1979 - Renamed to State Trading Organization (STO)

1983 - STO Electronics showroom opened

1983 - First Board appointed

1985 - Allied Insurance Company of the Maldives established

1989 - Celebrated Silver Jubilee of STO

1993 - First 'Easy Fill' station opened

1995 - STO Home Improvement showroom opened

1997 - STO Maldives (Singapore) formed

1998 - Changed name to State Trading Organization Limited

1999 - Formed Maldive Gas

2000 - Formed Maldives Structural Products

2001 - Formed Fuel Supplies Maldives

2001 - Become a listed company and went public

2003 - Maldives National Oil Company formed

2009 - Issued shares to public

2011 - Invested in Addu International Airport

2011 - STO Wholesale Center opened

2015 - All Island Pharmacy Project completed

2015 - Celebrated Golden Jubilee

2016 - Accepted Maldives Industrial Fisheries Company to STO Group

2020 - Established prenatal & newborn screening in Maldives with IGMH

2020 - Transferred STO's shares in Addu International Airport to GoM

2020 - Maldives State Shipping formed

2020 - eSTOre launched

2021 - Introduced STO Agents

2022 - Established the first fuel testing laboratory in Maldives

2022 – Introduced hypermarket concept in Maldives with new showroom

2022 - Makita Showroom opened

2022 - Supplied ready-mix concrete to Thilamalé Bridge Project

2022 - Started training Radiographers locally with GE Healthcare

2023 - Opened the first cashier-less smart store in Maldives

2023 - Started drone delivery service for Maldives Health Line




Enriching lives.


Expand through sustainable business practices, achieve customer excellence and encourage community engagement.


Think Big
Determined to Deliver
Tech Driven
Unified to Make an Impact
Do Things Right

Board of Directors

Mr. Amir Mansoor


Mr. Shimad Ibrahim

Chief Executive Officer and Managing Director

Mr. Mohamed Nizam

Chief Financial Officer

Mr. Mohamed Ahsan Saleem

Director (Representing public shareholders) / Chairman of Audit and Risk Committee / Member of Governance and Sustainability Committee

Mr. Mohamed Murad

Director / Member of Governance and Sustainability Committee / Member of Audit and Risk Committee / Member of Nomination and Remuneration Committee

Uz. Dhaanish Mohamed Ameen

Director / Chairman of Governance and Sustainability Committee / Member of Audit and Risk Committee / Member of Nomination and Remuneration Committee

Ms. Reesha Abdul Munnim

Director / Chairman of Nomination and Remuneration Committee / Member of Governance and Sustainability Committee

Executive Team

Mr. Shimad Ibrahim

Chief Executive Officer and Managing Director

Mr. Mohamed Nizam

Director / Chief Financial Officer

Ms. Hawwa Nafia

Chief Audit Executive
Internal Audit

Mr. Ahmed Shifan

Senior General Manager
STO People's Choice and Food Security

Ms. Aishath Shaffana Rasheed

General Manager / Company Secretary
Corporate Affairs

Mr. Abdul Wahid Moosa

General Manager

Ms. Mariyam Nuzla

General Manager
People Operations

Ms. Mariyam Paruveen Abdul Faththah

General Manager

Mr. Ismail Mifrah

Chief Information Officer
Information Technology

Mr. Mohamed Eman

General Manager
Energy and Construction Solutions

Mr. Ali Nabeeh

General Manager

Mr. Mohamed Ihsan Waheed

General Manager
Business Research and Property Management

Uz. Mohamed Samah

Chief Legal Officer
Legal Affairs and Risk Management

Mr. Ahmed Niushad

General Manager
Medical Services and Pharmacy Management

Organizational Structure