Young Chinese billionaire in Colombo
One of the youngest billionaires of China, Cai Xiaoru, arrived in Sri Lanka on Monday demonstrating renewed investor confidence on the nation.
Widely acclaimed for his extremely successful judgement on market certainty and large scale acquisitions to trigger rapid business growth, Cai Xiaoru’s visit is set to result in some large scale private sector investments in Sri Lanka especially in the “Hi Tech- Innovation” sector.
Xiaoru is 38 years old and is ranked by Forbes as the 7th youngest billionaire of China. He is the owner and chairman of Shenzen Listed Public Company Tatwah Smartech Co.Ltd (www.twh.com.cn) the world’s largest manufacturer of RFID tags and owns a mega manufacturing facility employing thousands of people in Zhongshan, China.
Cai Xiaoru is now actively investing overseas and has embarked his maiden visit to Sri Lanka and will leave on January 13, 2018.
Xiaoru’s visit is very significant for China’s private sector as he is the first Chinese billionaire who is visiting Sri Lanka in the recent times, exploring 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 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 quickly ventured into the OTT business area and further realized 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 actively laid out its overseas markets and started implementing a Strategic Transformation to International Satellite Telecommunications Operators. In April 2017, the Company indirectly acquired Cyprus Star Rail through a subsidiary in Hong Kong, making it the first company in China possessing Ka High-flux satellite orbit and Frequency of the right to use the resources of private enterprises.
(Source: Daily News)
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