Business
Blue Sapphire bought for Rs. 430 million is a nature’s masterpiece: Subash Gems
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“Experience in risk-taking played a big role in the valuation of this stone’
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It meets the 3Cs – Clarity, Colour and Carat
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‘It’s a perfect natural asset for the super-rich and celebrities to invest in’
by Sanath Nanayakkare
Subash Karunarathne, chairman at Subash Gems in Pelmadulla told The Island yesterday that he purchased the 99-carat Blue Sapphire for Rs. 430 million because it was a nature’s masterpiece, and it could take decades for another one of such unique characteristics to be found.
Subash bought this precious rare stone found in a gem-mine at kahawatte, at an auction held last week where officials of the National Gem and Jewellery Authority (NGJA) certified it as a 99-carat natural Blue Sapphire.
When The Island visited him at his residence in Pelmadulla, a lot of gem miners had gathered there to see how much Subash would be willing to pay for their gem stones, nevertheless, he gave us his time saying that he wanted to share his views with the mainstream media which wouldn’t sensationalise the deal and look at it objectively and realistically.
During the interview Subash said:
“Experience in risk-taking played a big role in the valuation of this stone. Also, the great confidence I have about the international growth markets including the United States, the European Union, India and the Middle East for rare precious stones encouraged me to bid a high price for it. You can’t avoid risks nor guarantee a successful return all the time, but knowing your trade is crucial to making it work.
Whichever gem stone you choose to invest in, you need to know that you are never 100% safe from losing money because risks and returns go hand in hand in the gem industry. However, it is commonly known that the more risks you are willing to take the higher the returns. Taking risks is a choice. Without taking risks, you’ll never know what you’re capable of achieving. I am confident that I can make a significant gain from this investment.”
“Global investors would look at the price tag on this stone in the context of supply and demand because natural resources such as this stone are hard to come by anywhere in the world. Furthermore, the discovery of this stone is a very positive thing for Sri Lanka gem industry and it will boost Ceylon Sapphires’ international fame.”
When asked whether he was sure he offered the right price for the stone, Subash said,” I see value in it that goes beyond the price because price is not always the value. This blue sapphire is sparkly and brilliant and rare. There is no doubt it has an aura making it unique and special. And it is a perfect natural asset for the super-rich and celebrities to invest in. They can use it to show off their wealth or as a tangible investment. Besides, on the financial side of things, rare gems provide a hedge against inflation and are crisis-resistant. It will never depreciate in value. This blue sapphire meets 3 vital Cs- Clarity, Colour and Carat. The fourth C is the Cut, and it is a delicate job for a clever craftsman of international standards to maximize its value.”
In response to a query posed by The Island, a spokesman at Subash Gems said that the deal at the auction was subject to the tax laws of the country. “The selling party got their amount after the deduction of withholding tax, and we made them the payment with the cash flow after taxes,” he said.
Company stresses ambition to surpass this milestone
Eyes markets across Africa and beyond
In a groundbreaking achievement for Sri Lanka’s IT and electronics manufacturing industry, EWIS Colombo Ltd, the country’s first and only local computer manufacturer, has successfully exported its first consignment of locally built laptops to Zimbabwe.
This landmark event not only positions Sri Lanka as an emerging force in global IT hardware manufacturing but also highlights EWIS’s commitment to innovation, quality, and excellence on the international stage.
This historic shipment, dispatched from EWIS’s state-of-the-art manufacturing facility in Samajasewapura, Sooriyawewa, underscores the company’s dedication to delivering world-class technology solutions. With over 11 years of expertise in manufacturing and assembly, EWIS Colombo Ltd has played a pivotal role in driving Sri Lanka’s ICT sector forward. As a Board of Investment (BOI) Section 17-approved company, EWIS has established the country’s first and only local computer manufacturing plant, paving the way for the nation’s growth in high-tech exports.
Speaking on this momentous achievement, Sanjeewa Wickramanayake, Chairman of EWIS Colombo Ltd, said: “This milestone is not just for EWIS but for Sri Lanka as a whole. It proves that our country has the talent, capability, and ambition to manufacture and export high-quality IT products, competing confidently on the global stage. As we continue expanding beyond local markets, we take immense pride in showcasing Sri Lanka’s excellence in technology and innovation to the world. EWIS’s commitment to world-class quality is reinforced by its ISO 9001:2015, ISO 14001:2015, CE, FCC, and RoHS certifications, ensuring compliance with international quality, safety, and environmental standards.”
Speaking further he said:
“For nearly four decades, EWIS has been a trailblazer in Sri Lanka’s ICT sector, delivering cutting-edge solutions for education, businesses, and government enterprises.
With over 11 years of local manufacturing and assembly expertise, EWIS has continuously refined its capabilities to produce high-quality, internationally competitive IT hardware. The successful export to Zimbabwe represents a bold step toward expanding EWIS’s global footprint, reinforcing Sri Lanka’s potential as a world-class technology and manufacturing hub.”
The International Institute of Health Sciences (IIHS), a pioneer in healthcare training for over 23 years, has partnered with the University of Surrey, UK, to revolutionise healthcare education in Sri Lanka and the broader South Asian region. This will create a world-class academic pathway for aspiring nursing and healthcare professionals, as well as young individuals seeking careers in the field. Under this agreement, IIHS and the University of Surrey will introduce a series of academic initiatives to enhance healthcare training and accessibility.
These include delivering internationally recognised nursing programmes that allow Sri Lankan and regional students to earn globally competitive qualifications in Sri Lanka.
Commenting on the move, Dr. Kithsiri Edirisinghe, CEO & Dean of Undergraduate Studies at IIHS, said: “This MOU marks a significant step in our mission to deliver world-class healthcare education to Sri Lanka and the region. IIHS remains dedicated to shaping the future of healthcare professionals and fostering global healthcare leadership.” Dr. Shelini Surendran, Associate Dean (International) at the University of Surrey, emphasised: “Sri Lanka is establishing itself as a regional education hub, and this partnership ensures students across Asia can access top-tier UK healthcare education at IIHS. By bridging academic excellence with accessibility, we provide students with a clear pathway to their professional goals.”
Dialog Television, Sri Lanka’s #1 Pay-TV service provider, has partnered with Emerging Media to enhance the convenience and effectiveness of advertising. This collaboration brings together Dialog Television’s world-class entertainment, featuring 18 advertisable channels across genres such as movies, edutainment, kids, music, sports, and local content, with Emerging Media’s expertise in digital advertising and targeted marketing. This synergy creates a seamless platform for businesses to maximize brand exposure across multiple channels.
With a reach of over 1.7 million households, Dialog Television provides advertisers with a powerful avenue to engage diverse audiences. Brands can place advertisements on leading international and local channels such as &flix, Star Movies, TLC, Animal Planet, AXN, Zee Café, Comedy Central, Star Plus, A+, Nickelodeon, Star Vijay, Zee Tamil, Star Sports, Ten Cricket, Sony SIX, ThePapare TV, Channel One, Citi Hitz and Channel C. Through this partnership, Emerging Media will facilitate advertising sales, allowing businesses to target specific viewer segments while simplifying the media buying process with a single point of contact.
Commenting on the partnership, Lim Li San, Group Chief Operating Officer at Dialog Axiata PLC, stated, “As Sri Lanka’s premier Pay-TV service provider, we serve more than 1.7 million households with over 6 million pairs of captive eyeballs across Sri Lanka. Today, we are excited to embark on this partnership with Emerging Media to avail our Dialog Television platform and brand strength to provide quality advertisement exposure and customer engagement to local businesses across Sri Lanka.”
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