In 2010, Shimad Ibrahim embarked on his journey with the State Trading Organisation (STO), the largest state-owned enterprise in the Maldives, by buying 50 shares. For a business enthusiast with a passion for corporate strategy, it was a significant step. Thirteen years later, Shimad now serves as the Managing Director and Chief Executive Officer of STO, steering the company and its subsidiaries to new levels of success.

In an exclusive interview with Sukun, Shimad reflected on his path. "I joined STO as a shareholder in 2010 when I bought 50 shares. Back then, it was a significant amount for an individual. I studied business and have always been keen about it—attending annual general meetings and researching annual reports of companies," he shared.

Shimad’s involvement with STO deepened in 2019 when he was appointed to the board, a role he held until 2023. His appointment as Managing Director in December 2023 marked a defining moment in his career, placing him at the helm of an enterprise vital to the Maldivian economy.

STO’s Mandate and Achievements

Shimad emphasized that STO's core mission is to ensure the availability, reliability, and affordability of essential commodities in the Maldives. "We have been very successful in achieving this mandate," he stated, noting the organization’s commitment to safeguarding the supply chain of basic goods for the nation.

Under his leadership, STO has initiated ambitious diversification efforts. These include:

Northern Bunkering Services: Expanding fuel supply capabilities to the northern Maldives to support maritime and logistical activities.

Agricultural Economic Zone: Establishing a dedicated zone in the capital region to boost local agricultural production and support economic development.

Ramadan Price Stabilization: As in previous years, STO is working to control the prices of essential goods during the holy month, ensuring affordability for households nationwide.

A Vision for Growth

Leading the largest state-owned enterprise in the Maldives is no small feat. With its subsidiaries spanning diverse industries, Shimad has become one of the country’s most influential CEOs. His vision focuses on innovation, sustainability, and addressing the needs of the Maldivian people.

From a shareholder attending annual general meetings to a CEO charting the future of a nation’s economic lifeline, Shimad’s journey exemplifies the power of dedication and strategic leadership. As STO continues to grow under his stewardship, the organization remains committed to serving as a cornerstone of the Maldivian economy.