Abdulla Saeed to be Appointed Managing Director at STO

The Privatisation and Corporatisation Board (PCB) has been requested by the President’s Office to appoint Abdulla Saeed as the new Managing Director of the State Trading Organisation (STO), following the dismissal of Hussain Amr.

Saeed is currently serving as the Managing Director of the Maldives State Shipping Company Private Limited (MSS). Saeed previously held the position of Cabinet Secretary in the government of former President Mohamed Nasheed but resigned in 2011 to manage the Maldives National Shipping Limited (MNCL) office in Singapore. He also served as the Chairman of the Maldives National Oil Company (MNOC) in Singapore before taking up his current position at MSS.

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While the PCB has not yet announced their decision, the President’s Office has stated that the appointment of Saeed is part of efforts to strengthen corporate governance and further enhance the company. In the meantime, Mohamed Nizam, the Chief Financial Officer (CFO) of STO, is serving as the Acting Managing Director.

Amr’s dismissal followed allegations of violating government policies and participating in discussions against the government’s interests. He had been a senior official in a government-owned company and had been involved in discussions regarding the upcoming presidential election. Amr’s dismissal was part of a larger restructuring effort to ensure the company operates with transparency and accountability.

Featured Cover Image: Maldives State Shipping (MSS)

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