Chairman of STO Hussain Salim Muhammad have said that STO has made huge profits last year even with the price hike in oil in the global market. He said that this was a significant achievement.
He made this statement while speaking at a ceremony held last night at Dharubaaruge to mark the 52nd anniversary of STO. Oil trade contributes to most STO’s net trade. However, STO sells oil with a very little profit margin and cheaper than all other countries in the region.
STO increased the price of oil by a very small margin and hence, the profits made from oil decreased. However, the net profit made by STO in 2016 was more than that of 2016 and this shows how capable the leadership of STO is.
Hussain Salim said that STO provides many services even now and their aim is to provide more services to the people in a convenient manner to the people. “You get gas just by pressing a button. Also, you get the power mix of STO to make concrete. Hence our aim is to provide more services at the push of a button” said Salim. In addition, he said that, they plan to widen the service of Allied Insurance Company a subsidiary of STO, to all islands of Maldives.
Salim said that the team of STO are very sincere and they want to serve the people in the best ways possible. He said that among the companies of Maldives, the most educated and capable staffs are with STO and hence STO can increase their capacity. Salim also said that the staffs of STO will always greet customers with a smile and STO will achieve a lot in future in serving the customers.
STO making huge profits even with the price hike in oil is a great achievement : Salim
