Young Chinese billionaire in Sri Lanka exploring investment opportunities in the country
One of the youngest billionaires of China, Cai Xiaoru has reportedly arrived in Sri Lanka to explore investment opportunities in the island nation, which is deemed as a demonstration of renewed investor confidence in the country.
Widely-acclaimed for his extremely successful judgment on market certainty and large-scale acquisitions to trigger rapid business growth, Xiaoru’s visit is set to result in some large-scale private sector investments in Sri Lanka, especially in the high-tech/innovation sector, reports state.
Xiaoru is one of the youngest Chinese billionaires. He is 38 years old and is ranked by Forbes as the seventh youngest billionaire of China.
He is the owner and Chairman of Shenzhen listed public company Tatwah Smartech Co.Ltd. (www.twh.com.cn). Tatwah is the world’s largest manufacturer of RFID tags and owns a mega manufacturing facility employing thousands of people in Zhongshan, China.
Xiaoru is now actively investing overseas and has embarked on his maiden visit to Sri Lanka from January 9th till the 13th.
Xiaoru’s visit is very significant for China’s private sector as he is the first Chinese billionaire visiting Sri Lanka in recent times to explore investments.
Tatwah has a high market position in the domestic Internet of Things industry and is a leading enterprise in the domestic RFID field and a large-scale supplier in this field. Through its accumulated advantages in the field of RFID devices, the company has formed an Internet of Things business system that focuses on hardware manufacturing, system integration, middleware, overall solutions and IoT operations.
The company has acquired the underlying company Jinrui Xianxian in November 2015. Its main business is the production of digital TV, internet TV motherboards and internet set-top boxes. Through this acquisition, the company has quickly ventured into the OTT business area and further realised the layout in the field of smart life.
In order to respond positively to the strategy of ‘Going Global’ and ‘Belt and Road,’ the company has actively laid out its overseas markets and started implementing a strategic transformation to international satellite telecommunications operators.
In April 2017, the company has indirectly acquired Cyprus Star Rail through a subsidiary in Hong Kong, making it the first company in China possessing Kahigh-flux satellite orbit and frequency of the right to use the resources of private enterprises. The company has promptly deployed satellite communications operations in various countries along the ‘Silk Road along the Sea’ and rapidly popularised the innovative business model in China through existing local customer resources and satellite channels globally.
The visit by the young Chinese billionaire businessmen to Sri Lanka exploring investment opportunities is a clear vote of confidence on the country’s economy. Cai Xiaoru’s interest in Sri Lanka could push for other foreign investors to also explore investment opportunities in the country. On the other hand, Sri Lankan businesses could look at approaching Xiaoru with investment proposals in line with his business portfolio to explore the possibility of forming a business partnership.
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