Press release
29th May, 2023
ofi secures JPY 46 billion medium-term samurai loan facility
Singapore
Olam Group Limited (“Olam Group”) announced today that its wholly-owned subsidiary, olam food ingredients (“ofi”), a global leader in naturally good food & beverage ingredients, has secured a multi-tranche medium-term samurai loan facility aggregating JPY 46 billion (the “Facility”). ofi was created in early 2020 following the announcement of the re-organisation within Olam International Limited (now Olam Group) to unlock and maximize its long-term value.
The Facility has Olam Treasury Pte Ltd as a Borrower and comprises (i) a 3-year tranche of JPY 40.5 billion, and (ii) a 5-year tranche of JPY 5.5 billion. The Facility is initially guaranteed by Olam Group which will transfer to ofi Group Limited post the planned IPO and demerger of ofi. Proceeds from the Facility will be applied towards refinancing of ofi’s existing loans and for general corporate purposes.
MUFG Bank Ltd., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and Development B
Press release
10th Apr, 2023
Olam Group publishes its 2022 Annual Report: “Forging a Bold Future”
Singapore
Olam Group Limited (“Olam Group”) has published its 2022 Annual Report, which highlights its financial and non-financial achievements across three comprehensive components: Strategic Report, Governance Report and Financial Report.
The report details key updates and progress for the Group in 2022, including:
A strong operating performance against a record prior year despite a highly challenging and volatile macroeconomic environment, which is testament that the Group’s strategy is sound and robust
Re-organisation progress, notably the completion of a US$1.24 billion sale of a substantial minority stake in Olam Agri to SALIC1
Plans to list Olam Agri as early as H1 2023, and continued commitment to an IPO for ofi, both subject to prevailing market conditions
Significant turnaround for the gestating/continuing assets and incubating businesses under the Remaining Olam Group
Progress and contribution of non-financial capitals – Manufactured, Intellectual, Intangibl
News
16th May, 2023
Providing Access to Clean Drinking Water in Satikran, Côte d'Ivoire
In the small village of Satikran, located about 30 km from Abengourou in the sub-prefecture of Aniassué, life is changing for the better. Olam Agri's rubber business in Côte d'Ivoire – Société Agro-Industrielle de la Comoé (SAIC) – has donated a solar water pump to the village, bringing access to clean drinking water to more than 12,000 inhabitants.
The donation is part of the Nassey program, which means "Thank You" in the local dialect and aims to show our appreciation and commitment to social development for rural communities. The solar-powered water pump will provide the community with safe and clean drinking water, something they have long struggled to access.
The donation, which was made in time for World Water Day, had Augustin Apetey, Deputy Managing Director of SAIC, expressing his joy at the pump’s impact on the community saying, "What a relief for our mothers, sisters, and daughters! So many lives to change!"
