Privatisation and Corporatisation Board (PCB) has revealed State Trading Organisation (STO) and Maldives Airports Company Limited (MACL) received the highest revenues last year.
STO received a revenue of USD 162 million, which is an increase of 35 million US dollars compared to the same quarter of 2017, according to the statistics of the last quarter of 2018 published by PCB. Meanwhile, MACL received a revenue of USD 90 million, which mostly contributes to the sale of fuel from Velana International Airport (VIA).
Other state-owned companies, including Bank of Maldives (BML), Dhiraagu, Island Aviation Services Limited (IASL), State Electric Company Limited (STELCO), Male' Water & Sewerage Company (MWSC), Maldives Transport and Contracting Company (MTCC) and Fenaka Corporation Limited, received over 13 million US dollars as revenue. However, BML and MTCC received a lower revenue when compared to the last quarter of 2017.