SLCM Group expands network in Myanmar with second tie-up - Partners with C B Bank to provide Collateral Financing

First warehousing company to enter ASEAN country for agri-financing & storage solutions

NEW DELHI , NEW DELHI , INDIA , May 13, 2015 /EINPresswire.com/ -- Highlights:

• Tie-up with C B Bank aimed to provide Collateral Financing to farmers at an annual interest rate of 13%; Plans to double the presence from four locations to eight locations by second quarter of FY15
• SLCM Ltd., the wholly owned subsidiary of Sohan Lal Commodity Management Pvt. Ltd - India's leading post harvest Agri-Logistics Group, has disbursed loans worth 680 Mn kyatts to several clients on agriculture commodities in Myanmar through Yoma Bank tie-up. SLCM Myanmar has managed 100,000 sq feet of space, 15 different commodities handling a throughput of around 4 million MT in 11 months of operations
• First warehousing company to enter ASEAN country for agri-financing & storage solutions

13 May, 2015, New Delhi: SLCM Ltd., the wholly owned subsidiary of Sohan Lal Commodity Management Pvt. Ltd, India's leading agri logistics and warehousing Group, has tied up with one of the largest and oldest banks, C B BANK in Myanmar for Collateral Financing. The step is aimed to provide agri-financing solutions to Farmers, Processors, Traders, Exporters & Importers across Myanmar. The company would undertake Sampling, Testing, Grading, Assaying, Fumigation, Aeration and Quality Certification of the commodities to ensure the quantity & quality of the pledged commodity.
C B Bank will offer farmers to pledge 60% of their commodities which will be stored at SLCM warehouses for a stipulated period at an annual interest rate of 13%. SLCM has announced this association in line with their expansion plans in Myanmar and is expected to double its presence from current 4 locations to 8 locations in the country.

On the occasion, Mr. Sandeep Sabharwal – Group CEO, SLCM said, “This is the 2nd tie-up that we have formalized in 2015 in Myanmar after the MoU with Yoma Bank earlier this year. Our output has been very encouraging from the earlier association and the way in which we are seeing a paradigm shift in Myanmar’s economy and policies, especially relating to agriculture and collateral financing, we are determined to further explore the region and fourfold our presence there. We have replicated our best practices & expertise in agriculture warehousing domain which have been evolved in several years of operations in India in this Golden Land of Myanmar.”

Sohan Lal Commodity Management Pvt. Ltd., through their wholly owned subsidiary SLCM Ltd., had tied up with Yoma Bank earlier this year and till date has disbursed loans worth 680 Mn kyatts to several clients on agriculture commodities. In a short span of about 11 months, SLCM Ltd. has managed 100,000 sq feet of space, 15 different commodities with a throughput of approx. 4 million MT. Myanmar, where collateral based lending is limited to mostly land holdings, the recent shift of authorities to include key agriculture goods as collaterals is a landmark achievement.
C B Bank is one of the leading banks of Myanmar and operates through a network of 127 branches across the country. They were awarded the Best Corporate Bank in 2014.

The official signing ceremony was held at CB Bank, Yangon on 8th May, 2015. Several high officials witnessed the ceremony.

About SLCM Group:

Sohan Lal Commodity Management Pvt Ltd (SLCM) is an ISO 9001: 2008 & ISO 22000: 2005 Certified, post harvest Agri-Logistics Group. SLCM warehouse management is equipped with technology to offer storage and protection services for the entire range of agri-commodities. SLCM has been handling more than 157 agriculture commodities including Cotton, Barley, Bajra, Castor Seeds, Wheat, Pulses, Maize, Spices, Aloe Vera, etc. across India. As on today, SLCM manages a technology enabled network of more than 720 warehouses and 15 cold storages across 17 states with a total capacity of over 1.61 Million Metric Tonnes spread over 9.22 Million square feet area and a throughput of more than 240 Million Metric Tonnes. The company has also applied for patenting this scientific technology of storage under the name of “AGRI REACH” for which the patent is pending.

The Group also has a wholly owned NBFC in India christened as "Kissandhan" which has changed the paradigm of collateral financing by financing across diversified agri products whilst being agnostic to balance sheet of the borrower yet complying with the prudential norms of RBI. In a short tenure of a year, Kissandhan has already financed close to 130 plus crores across 7 states and multiple commodities in India.

About SLCM Ltd., Yangon - Myanmar

SLCM started its operations in 2014 in Myanmar with a rich pedigree in the agricultural sector. The company abides by the values & vision of SLCM Group to provide quality service to various stakeholders. A team of experienced & qualified professionals handle and manages operations at each warehouse, which is controlled through continuous audits and inspections like in India. The company provides warehouse management and financing solutions to farmers, processors, traders, exporters and importers in Myanmar. SLCM in Myanmar meets the “International Standards” to store Agricultural products & commodities in Myanmar.

For media queries:
Ms. Vaishali Sharma - GM, Corporate Communications – SLCM Group
Ph: +91- 8588863274

Vaishali Sharma
SLCM Group
8588863274
email us here

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