Chinese billionaire invests US$ 30 mn in SupremeSat | Daily News

Chinese billionaire invests US$ 30 mn in SupremeSat

Forbes listed young billionaire of China Cai Xiaoru with Chairman of Supreme Global Holdings, R. M. Manivannan in SupremeSAT’s Pallakele satellite control center.
Forbes listed young billionaire of China Cai Xiaoru with Chairman of Supreme Global Holdings, R. M. Manivannan in SupremeSAT’s Pallakele satellite control center.

Cai Xiaoru, Forbes listed young billionaire of mainland China signed the partnership agreement and committed to invest US dollars 30 million into SupremeSAT - Sri Lankan Satellite Company through his Shenzen listed company Tatwah Smartech.

The agreement signing was concluded in Colombo paving way for Sri Lanka’s only satellite company to go global using the expertise and resources of the new found investment. The partnership with Tatwah Smartec and the visiting young billionaire it set to boost SupremeSAT’s capabilities and resources further in a big way making Sri Lanka proud in the global space arena. “Tatwah is evolving as a globally strong player in the satellite communications industry. I am very pleased to see the remarkable growth SupremeSAT has achieved within a very short span of time competing against many strong global brands. I am confident that this partnership will bring more value of Tatwah’s resources, and redefine the capabilities of SupremeSAT to further grow in all areas of its operations” said Xiaoru Cai, Chairman of Tatwah SmartechCo. Ltd. “As a private company hailing from a small island nation, SupremeSAT has proven to the world that the company has become a formidable player in the global space industry. Having established the long term strategies and infrastructure to expand the company’s business we expect to accelerate our growth by way of selected acquisitions worldwide”, Chairman of Supreme Global Holdings, R. M. Manivannan, said. “Five years ago we vowed to take Sri Lanka to the next level of technology and we have walked the talk. Our concentration was on making Sri Lanka a formidable player in the global space industry and today we are taking another giant step towards that”, he added. The new strategic partnership will focus on growing SupremeSAT’s existing activities in Sri Lanka whilst also concentrating on large scale expansion globally with the combination of synergies. The SupremeSAT-3 Capacity created by SupremeSAT in partnership with Intelsat SA has given the company a long term contract with Sri Lanka’s Dialog TV thus providing over 90% the local market share. The company is hence concentrating on growth globally for further expansion.


 

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