Around the time of STO's establishment, Maldivian economy started to pick up speed, fueled by increasing commercial activity mainly in fisheries, agriculture, tourism and construction industries. STO responded by looking beyond its traditional role of state trader. It began to take up alternative enterprises to earn foreign exchange and broaden the nation's revenue sources.
STO group, with its subsidiaries, joint ventures and associates, is a national leader in business. It has significant and focused interests in petroleum, cooking gas, construction materials (including cement and roofing material), medical supplies and pharmaceuticals, home appliances, electronics, supermarket products and insurance.
The company is geographically diverse with operations and developments throughout Maldives and operations in Singapore. This has been achieved by direct procurement and distribution as well as forming joint ventures to effectively trade in areas where it presents greater opportunity.