State Trading Organization (STO) has announced the board’s decision to sell MVR 55 per share from the profits of 2017.
STO, who deals with the import and export of oil, gas, staples and pharmaceutical drugs on a large scale, has yet to release the company’s annual financial reports.
The company received a profit of MVR 288million in 2016, and sold the company’s shares at MVR 51 per share in 2017.
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.
Within the framework that includes these two areas STO has diversified and is also competitively engaged in trading in other areas including Consumer Electronics, Home appliances, Medicals, Canned foods, Health foods and a range of other high quality products.