State Trading Organization (STO) has been chosen as the title sponsor for the 2019 Maldives Business Awards.

STO signed the agreement with organizers Blazon Inc. on Tuesday, at a ceremony held at its head office.

Executive secretary, Maryam Parveen, signed the agreement on behalf of the state-importer, while Blazon was represented by its chief executive officer Hassan Abdulla Hilmy.

With a total of 29 awards to be given this year, including business of the year and lifetime achievement awards, the Maldives Business Awards was introduced as a platform to recognize and acclaim businesses who have shown exceptional performances in their respective fields.

The awards ceremony is to be held this December, and additional details are to be shared within the coming days.

STO was the title sponsors at last year’s ceremony as well, where its subsidiary company -Allied Insurance- won the business of the year title.

The 2018 Maldives Business Awards was the first of its kind, where a total of 23 awards were given out.