Subsidiaries
Allied Insurance Company Maldives Pte Ltd - Allied Insurance Company of the Maldives was established in 1985 as a joint venture Company between State Trading Organization and Commercial Union Assurance Company of the United Kingdom. In its early years, the State Trading Organization bought back the shares and the company continued operations with local ownership and management. Allied has had tremendous growth over the past 20 years, both in terms of the volume of business and profitability.
Fuel Supplies Maldives Pvt Ltd (FSM) - Fuel Supplies Maldives Pvt Ltd was established on January 1, 2001. FSM was founded as part of the scheme of STO to choose private companies to form partnerships in specialized lines of services.
Maldive Gas Pte Ltd - Maldive Gas, natural gas distribution market, delivering cooking gas to over 40,000 customers throughout the Maldives.
Maldives Structural Products Pvt. Ltd (MSP) - Maldives Structural Products Pvt. Ltd (MSP) is a joint venture company of State Trading Organization PLC & Rainbow Enterprises Pvt. Ltd., formed with the main objective of producing steel roofing products and related accessories and supply to the Maldives market.
Maldives National Oil Company Ltd. (MNOC) - The Maldives National Oil Company Ltd. (MNOC) was incorporated by the Government of the Republic of Maldives to complement the Government's effort to diversify the national economy and thereby generate employment and foreign income through oil and gas exploration and production in the territory of the Maldives and abroad.
Lafarge Maldives Cement Pvt Ltd - With the rapid development of the tourism industry in the Maldives, the government of the republic of Maldives embarked on its long term development of harbours, airports, housing and other infrastructure. The tourism industry continued to grow and many large resort projects with joint venture partnerships got off ground. All these development projects required large amounts of cement, resulting in an increased price of cement in the Maldives. This led to the introduction of Marine Cement Limited ( a Swiss based cement trading / shipping outfit owned by Lafarge of France and Blue Circle of United Kingdom), as a share holder to form a joint venture with the State Trading Organization Plc., registered under the Ministry of Trade and industries in the Maldives, in establishing Maldives Island Marine Cement Pvt. Ltd. From January 2002 with the takeover of Blue Circle by Lafarge of France.
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