Coronavirus threat - Induces UAE based billionaire postpone SL visit

Lulu Group International Chairman and Managing Director, UAE based Indian billionaire, Yusuff Ali has postponed this month's visit to Sri Lanka to discuss millions of dollars worth of investments with the government amid fears of the global coronavirus threat, the Daily Mirror learns.

Mr. Ali, who was to arrive in Sri Lanka on March 16, on a private jet was scheduled to hold discussions with Prime Minister Mahinda Rajapaksa and other senior government members. He was expected to discuss investments valued at more than US$1 billion.

The Daily Mirror learns that he has sought to postpone his visit as the UAE Health Ministry has issued directives to its residents to avoid travelling during the next few days in the wake of the recent global coronavirus outbreak. However Ali has sought a fresh date to visit Sri Lanka to discuss investments once the global situation improves.

Ali's LuLu Group International owns the LuLu Hypermarket chain worldwide and LuLu International Shopping Malls.

According to Forbes, Ali was last year ranked the 21st wealthiest Indian with a personal wealth of US$5.2 billion. According to Forbes Middle East, Yusuff Ali was ranked No.1 among the Top 100 Indian business owners in the Arab World in 2018. (JAMILA HUSAIN)