Sohan Lal Commodity Management Pvt. Ltd. (SLCM), a Delhi-based agri-logistics company, has signed an official agreement with Yoma Bank, one of the leading private banks in Myanmar, for Collateral Financing. Through this initiative, SLCM would provide comprehensive agri-commodity Warehouse Management, Procurement, Logistics and financial solutions support to farmers, processors, traders, agriculture exchanges, exporters and importers across Myanmar.
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 ASEAN countries.
Commenting on the agreement, Sandeep Sabharwal, Group CEO, SLCM said, “We have replicated our best practices & expertise in the agriculture warehousing domain in Myanmar.”
Other dignitaries present in the ceremony were Sunil Seth, Country Head, Tata International, Moe Myint Kyaw Secretary General of UMFCCI, Myanmar, Industry Leaders, Grain Traders & various Bankers.
Speaking on the occasion, 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.”
SCLM is the only company in India which has patented commodity management processes, which ensure almost negligible storage losses and works with a motive to provide innovative and affordable range of services to the agri-sector. The company is present in India in over 70 locations across 20 states with 600+ warehouses.
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