Chichi’s Rocket Earned Money for SL: Full Breakdown by PM Harini

Prime Minister Harini Amarasuriya told Parliament today (6) that the Sri Lankan government did not invest any funds in the SupremeSAT satellite project launched by Rohitha Rajapaksa, the youngest son of former President Mahinda Rajapaksa.

Responding to a question raised by MP D.V. Chanaka, the Prime Minister clarified that despite the lack of government investment, the project has generated financial benefits for Sri Lanka.

She explained that her response was based on available data submitted by the Board of Investment (BOI).

According to the Prime Minister, SupremeSAT (Pvt) Ltd., a company affiliated with Supreme Global Holdings, entered into an agreement with the BOI on 23 May 2012 to launch a communications satellite. Between 2013 and 2014, the company reportedly invested over Rs. 1.24 billion in the project.

She further stated that based on the investment proposal submitted by the company, no government funds were involved in the project. It was registered under Section 17 of the BOI Act as a project focused on the domestic market.

The company planned to establish and operate a satellite communications system in the Kandy Industrial Zone, with a total investment of Rs. 1.828 billion. The project officially began commercial operations on 27 August 2015, with the aim of providing telecommunication and broadcasting services to customers.

Citing BOI records, the Prime Minister also outlined the company’s income generated in Sri Lanka over the years:

2015–2016: Rs. 16.7 billion
2016–2017: Rs. 28.13 billion
2017–2018: Rs. 31.16 billion
2018–2019: Rs. 34.16 billion
2019–2020: Rs. 42.96 billion
2020–2021: Rs. 62.54 billion
2021–2022: Rs. 87.86 billion
First half of 2023: Rs. 39.5 billion

The shareholding structure of the company as of 2019 was as follows:

Supreme Asset Investments (Pvt) Ltd. held 47.82 million shares (20% shareholding)
Supreme Global Holdings (Pvt) Ltd. held 188.37 million shares (80% shareholding)

The Prime Minister concluded by noting that her statement was prepared using verified information currently available from relevant institutions.