Financial Times

Zam Gems expands operations in Malaysia
With three franchise outlets in Kuala Lumpur, Zam Gems – one of Sri Lanka’s top gem dealers -- has consolidated operations in Malaysia to cater to the growing demand for their unique creations, the company said last week.
“We first ventured into Malaysia in 1996, opening a franchise outlet at the New World Renaissance Hotel in Kuala Lumpur,” said Ahsan Refai, Managing Director of Zam Gems.

The success of this outlet prompted the company to open a second outlet at the Airport Duty Free in Kuala Lumpur in 2002 when the new airport was opened, and a third at Berjaya Times Square in Kuala Lumpur. Refai says they first decided to venture overseas when the ethnic conflict in Sri Lanka’s north proved to be a deterrent to business development in Sri Lanka.

“Malaysia is the hub of the Far East and we thought it was the best country to invest in because gems are duty free and the tax structure is reasonable,” he explained adding: “Malaysia offers a lot of potential with the Chinese, Malay, and Indian communities living there, among whom both white gold and yellow gold jewellery are very popular.”

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