STO earns highest income in Q4 2018

Source: Avas

The Privatization Board has stated that the State Trading Organization (STO) earned the highest income among all state-owned companies in Q4 of 2018.

According to the financial report released by the Privatization Board, STO earned MVR2.5 billion as income in the last quarter of 2018. This was a 26% increase compared to Q4 of 2017.

Following STO, the next firm to earn the most was Maldives Airports Company Limited (MACL). They earned a total of MVR1.3 billion, which was a 19.2% increase compared to the MVR1.1 billion they earned in Q4 of 2017.

The Privatization Board also stated that the 21 state-owned companies earned the government a total of MVR7.5 billion, adding that it was a 15% improvement over the MVR6.5 billion earned in 2017.

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