2019-03-15 00:00:00
STO to dissolve some of the company’s subsidiaries
STO to dissolve some of the company’s subsidiaries
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State Trading Organization (STO) has decided to dissolve some of the company’s subsidiary companies.
According to the company, they will be dissolving Maldives National Oil Company and STO Hotels and Resorts. In addition they plan to cease the activities of STO Maldives Singapore temporarily.
STO made this decision because an internal audit shows that these companies are not profitable anymore.