SLCM LTD., Myanmar Partners with YOMA BANK for Collateral Management
The collaboration to offer better lending opportunities to Agri and Commodity sectors. The association is said to be a game changer for the developing economy of Myanmar. With a motive to provide innovative and affordable range of services to the agri-sector.
- (1888PressRelease) January 23, 2015 - New Delhi - SLCM Ltd., a 100% subsidiary of Sohan Lal Commodity Management Pvt. Ltd. (SLCM), India's leading agri logistics and warehousing company, has tied up with one of the leading banks, YOMA BANK in Myanmar for Collateral Financing. This revolutionary step would prove to be a landmark in the developing economy of Myanmar. Through this initiative, SLCM would extend financial solutions support to farmers, processors, traders, Agriculture Exchanges, Exporters & Importers across Myanmar. This association would change the dynamics of finance & lending sector for Agriculture & other commodities in the country.
YOMA BANK will offer farmers to pledge 60% of their commodities, stored at SLCM's warehouses, for a certain period at an interest rate of 13% p.a. SLCM is the first warehousing company from India to provide the same scientific and financial support to agri economies of developing nations in ASEAN.
On the occasion, Mr. Sandeep Sabharwal - Group CEO, SLCM said, "We have replicated our best practices & expertise in agriculture warehousing domain in this Golden Land of Myanmar. I am gratified by the support of YOMA BANK for the collateral management services, as it will facilitate the entire business fraternity. This association will certainly redefine the Agri-Financing & Logistics space in the country."
YOMA BANK is one the largest private banks in Myanmar, with 2000 employees and more than 50 branches nationwide. At the signing ceremony Ms. Daw Aye Aye Soe, Executive Director - YOMA BANK said, "We are arranging to provide pledge loan against commodities such as Machines, Commercial Goods & Agri Commodities to our SME's to get competitive price. The move will dissolve the legacy practice of mortgaging assets to generate funds and will provide financial stability to farmers and all others related to agri and commodity sectors in Myanmar."
The official signing ceremony was held at UMFCCI in 16th January, 2015. Several Dignitaries such as Mr. Sunil Seth, Country Head, Tata International, Mr. Moe Myint Kyaw Secretary General of UMFCCI, Myanmar, Industry Leaders, Grain Traders & various Bankers witnessed the ceremony.
On the occasion, Mr. Sunil Seth Country Head Tata International commented, "This is the right step taken by SLCM Ltd. for further development of infrastructure and economy of Myanmar."
Sohan Lal Commodity Management Pvt Ltd. is a one stop comprehensive agri-logistics company, having its Corporate Office in Delhi. We provide comprehensive agri-commodity Warehouse Management, Procurement, Logistics and Financial solutions to farmers, processors, traders, agri exchanges and government across India and now in Myanmar.
About SLCM Group:
SLCM is a Delhi-based ISO certified, technology driven Agri-Logistic Company, which commands presence in India in over 70 locations across 20 states with 600+ warehouses. With over 3 decades of presence in warehouse management, SLCM offers holistic services in post harvest agri logistics ecosystem - from agri-commodity warehouse management to procurement and financing solutions to farmers, processors, traders, agri exchanges and government. SLCM handles about 50 plus agri commodities across India including cotton, pulses, maize, spices, Mentha Oil, etc. It is only company in India which has patented commodity management processes which ensure almost negligent storage losses.
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. We provide warehouse management and financing solutions to farmers, processors, traders, agriculture exchanges, exporters and importers in Myanmar. SLCM in Myanmar meets the "International Standards" to store Agricultural products & commodities / Distribution centres in Myanmar.
For media queries:
Ms. Vaishali Sharma - GM, Corporate Communications - SLCM
Ph: +91- 8588863274
Ms. Pritika Khera - Fortuna PR
Ph: +91-8800900547.
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