Fuel Supply Maldives Private Limited (FSM) has announced its rebranding for its 21st anniversary. Minister of National Planning, Housing, and Infrastructure Mohamed Aslam inaugurated the new brand at a special ceremony.
FSM is a subsidiary of the State Trading Organisation (STO) and was formed in 2000 to streamline fuel distribution in the country and to offer easy and convenient access to fuel throughout the country.
Speaking at the ceremony, Managing Director Mohamed Gasam highlighted the accomplishments of FSM, including spending over USD 4.5 million in capital investments in the past three years. He noted that FSM had sold a record amount of fuel in 2019 and said the company continued to reliably supply fuel throughout the country despite the challenges it faced during the COVID-19 pandemic. He added that FSM ended 2020 without having to resort to dismissing employees, and the company will end this year after reaching all its targets.
Furthermore, Managing Director Gasam said FSM will begin implementing the minimum wage in December. He said FSM has made the necessary changes to its policies to abide by the minimum wage set by the government. As such, he said employees will receive their salary in December in accordance with the minimum wage, and that he expects the changes to benefit 185 employees.
The company also introduced its new logo designed by advertising agency Publicity Bureau Private Limited. The new logo represents the hydrocarbon compound in orange and blue.