GoldQuest to continue Lankan investments

Despite Central Bank investigations into the GoldQuest operation continuing this week, its main marketer Quest International (QI) was adamant that it will continue investing in the Sri Lankan economy.

“As a group we firmly believe in investing in Sri Lanka despite the current situation in the country as we see Sri Lanka as a nation with great potential,” said Richard E. Zinkiewicz, Group Director of Finance, QI Ltd, in a statement issued to The Sunday Times FT after the paper broke the story of the Central Bank resuming its investigation of the controversial multi-level marketing scheme.

The story came in the backdrop of GoldQuest architect Vijayeswaran S. Vijayaratnam and three of his associates being arrested in Jakarta on fraud.

The QI group of companies said the case against Vijayeswaran had nothing to do with QI, a statement that was greeted with disbelief and scepticism by investigating Central Bank officials.

Zinkiewicz said QI has been involved in business activities in Sri Lanka for the last six years and actively trading in the Colombo Stock Exchange.

He said it has nearly five percent shareholding in the John Keells, just under 10 percent shareholding in NDB and 54 percent controlling stake in Ferntea.