SLCM Ltd. ties up with Myanma Apex Bank in Myanmar

SLCM Group (Sohan Lal Commodity Management), the only Agri Logistics Group which has presence in Myanmar to provide Warehouse Management and Collateral Management Services through its wholly owned subsidiary, SLCM Ltd has signed MoU with Myanma Apex Bank for collateral financing in Myanmar. The step is aimed at strengthening the network for providing collateral management solutions to processors, traders, exporters, farmers & importers across Myanmar.

Mr. Anubhav Sengar, Country Head, SLCM Ltd and Mr. Kyaw Soe Min, Deputy Managing Director, Myanma Apex Bank signed the MoU today. The signing commitment states that rate of interest for loan disbursement remains fixed at 13%.

With this, SLCM Ltd. becomes the only warehousing & collateral management services provider in Myanmar & has tie-ups with four leading nationalized banks including Yoma Bank, C B Bank, United Amara Bank and now with Myanma Apex Bank.

On this development, Mr. Sandeep Sabharwal, SLCM Group CEO, said, "The Group intends to play a significant role in boosting the economy of Myanmar by reducing post harvest losses through its indigenously developed process AGRI REACH (patent pending) and by advoacting best collateral management practices which allows financial institutions to aid the SME sector. There was a strong need of a system oriented logistics support provider & SLCM was best placed to address this gap. We have pioneered in introducing Collateral Financing & Professional Warehouse Management with best-in-class international standards in Myanmar & will continue to expand with this pace."

Through the initial tie-ups with banks, SLCM Ltd. has enabled disbursement of loans amounting to about USD 5.9 Mn and has managed 155,800 sq ft of area & handled 55 commodities with a network of 8 warehouses in the industrial zones since commencement. The company has assets under management of about USD 20.95 Mn through several marquee clients.

Myanma Apex Bank will offer financial solutions to both individual and corporate customers, in accordance to their needs, while maintaining excellence in customer service at all times. Commodities financed will be stored at SLCM managed warehouses. SLCM Ltd. would undertake Sampling, Testing, Grading, Assaying, Fumigation, Aeration and Quality Certification of the commodities to ensure the quantity & quality of the pledged commodities.

Source : Equity Bulls

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