Press Release

Chellarams Bags ISO Certification – The Guardian

Written by Balendran MidhushaanDecember 19, 2012
Chellarams Bags ISO Certification – The Guardian   
Date: December 19, 2012

The standards organization of Nigeria (SON) has awarded Chellarams Plc the NISD ISO 9001:2008 Management System certification.

With the new development the food and chemical divisions of the group have now been internationally certified. Presenting the certificate to the company’s Chairman, Asiwaju Solomon Onafowokan, in Lagos at the weekend, Son’s Director General, Dr. Joseph Odumodu, who lauded the firm for the feat of bagging the award at the first attempt, tasked it on sustaining the quality which the brand had been identified, nothing that quality which the brand had been identified noting that quality is a moving target. Represented by the organization’s Executive Director, Laboratory Services, Mr. Louis Njoku, Odumodu reminded  the company that the award  was not a fait accomplish as it is subjected to six-month audits to ensure compliance with provisions of the certification, warnings that it could be withdrawn in the face of  intractable infractions and non-conformities.

He said: The relevance of quality management in the current competitive market environment cannot be overemphasized. The NIS ISO9001: 2008 Quality Management System approach provides a globally recognized and acceptable solution to the challenges associated with quality management.

The system has been placed on six monthly surveillance audit to ensure continuing suitability and effectiveness of the implementation of the quality management system. In the cause f the audit exercises, where non-conformities are observed and effectively corrected within specified time frame, the system will retain the certificate. However, the certificate. However, the certificate will be withdrawn if the structures in the place for certifications break down and necessary actions are not taken on observed non-conformances, Odomodu cautioned.

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Chellarams Supports Seeing Is Believing Project – Business Day

Written by Balendran MidhushaanDecember 16, 2012
Chellarams Supports Seeing Is Believing Project – Business Day            

 Date: December 16, 2011

Chellarams recently reached out to the blind in the society by making a N1.5 million donation to support the seeing is Believing project. This they did at a fund raising programme organized by Standard Chartered, dedicated to raise fund raising fund for the blind in the society for the purpose of fighting against the scourge of blindness in Nigeria, as well as to help ameliorate the plight of the visually impaired in the society.

Peaking at the 2011 version of walk for standard; tagged Seeing is Believing, the group chief information Chellarams Plc, Harbanjan Batth, reiterated the commitment of Chellarams towards supporting any course that is geared towards alleviation the plight of the less privileged n the society.

According to Barth, we are a responsible corporate organisation, ready and willing to alleviate the sufferings of the less. privileged In the society. In a bid to actualizing this purpose  are ready to partner any individual, group or company, to help the disadvantaged People in the society.

Chellarams is a regular Contributor to the walk for sight project and has al ways been supporting the Standard Chattered bank.

This years walk for sight involved one thousand (1,000) participant engaged in a 4- kilometre walk within Victoria islan

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Chellarams Supports Standard Chartered Fund Raising For The Blind – Business Day

Written by Balendran MidhushaanOctober 17, 2012
Chellarams Supports Standard Chartered Fund Raising For The Blind – Business Day  
Date: October 17, 2012

Chellarams in its usual responsive and collaborative approach towards ameliorating the problems and challenges faced by the less privileged in the society recently supported the seeing is believing fund raising walk organized by the Standard Chartered Bank Nigeria Limited with a seven hundred and fifty thousand Naira donation to the course of the visually impaired in Nigeria.

Speaking at this years event that took place in Lagos, on Saturday the 13th of October 2012, the group chief information officer of Chellarams Plc, Harbbahjan bath, emphasized the commitment of Chellarams to the annual walk for the blind fund raising project. Furthermore, he promised that Chellarams Plc, as a regular contributor would not renege on its resolve to always support any course that would support any course that would alleviate the plight of the blind and other less privileged in the society. He described Chellarams as a responsible corporate citizen that is ready to partner with any corporate body in any effort geared at making the society a better place; even in this era of economic downturn and quagmire.

The seeing is believes project, is a Standard Chartered Bank initiative to help tackle avoidable blindness in communities around the world; including Nigeria.

This annual fund raising for the blind has been held in Nigeria in the last seven years. This years event saw close to about one thousand (1,000) participants engaged in a 4 kilometer walk from Bishop Oluwole through Adeola Odeku and Back to the starting point.

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Chellarams Unveils New Diary Product – The Guardian

Written by Balendran MidhushaanAugust 1, 2012
Chellarams Unveils New Diary Product – The Guardian        

Date: August 1, 2012

Chellarams Plc, has introduced into the market a diary product known as real Butter Oil.

With the unveiling of its latest product the group, which is fast becoming a one-stop shop for diary products, has equally avowed commitment for quality and real value for any products coming under its stable.

Speaking at the product’s launch in Lagos recently, the group’s Chief Information Officer, Dr. Harbhajan Batth said the move was aimed at satisfying the needs of consumers in Nigeria, as well as fulfilling the company’s vision of making available its products and services in every home in Nigeria and beyond.

He expressed the determination of the group to make the new diary product a household name and encouraged Nigerian to consume butter oil is a good source of milk, specially for lactose intolerant people and pregnant women. Butter oil stimulates the secretion of stomach acids to help with digestion and in the maintenance and repairs of the mucus lining of the stomach. In addition to its nutritional value, it is rich in antioxidants and helps in absorption of vitamins and minerals from other foods.

Furthermore, butter oil is known to promote all three aspects of mental function learning, memory and recall.

He continued, butter oil has a longer shelf life and does not need to be stored under refrigerated condition.

Butter oil or Ghee as it is known in India, is not common in Nigeria, although a form of it known as Mai Shanu could be found in the northern part of the country, However butter oil is a class of clarified butter that originated from South Asia.

The launched product is packed in plain transparent 500 grammes vacuum bags. Other dairy products marketed by Chellarams include Oldburger milk powder, Oldburger UHT milk and Oldburger cheese. The rest are Real milk powder. Real butter, Real cheese and the newly introduced Regal filled milk powder.

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Chellarams Supports Ymedia Do Green Initiative – Business Day

Written by Balendran MidhushaanMay 3, 2012
Chellarams Supports Ymedia Do Green Initiative – Business Day           

 Date: May 3, 2012

The campaign for a greener and cleaner environment in Nigeria and the world over, is gradually receiving the attention of both the public and private sectors of the Nigerian economy. This was evident at the recently held Lagos energy seminar, organized by Ymedia, in partnership with its public and private partners, including Chellarams Plc.

The event which took place of Friday, April 13,2012 in Lagos, witnessed the presentation of interesting and educative papers by speakers from both government and private sector, namely P. Okonji, director of power, Lagos Ministry of minerals of Transportation, Lagos, Onimisi Adaba, Head of station, Staem Broadcasting Communication, Taiwo Adewole, environmental consultant anger, Tetra pack west Africa and Abbisola Aworinde medical director, May Clinics.

One poof the speqkers, Harbhanjan Batth, the group chief information officer of Chellarams Plc, who spoke on partnering with a green initiative.

In his presentation, Batth traced the history of  bicycle to the early  days when it was a major means of transportation before the advent of automobile, due to technological advancement. This he said affected he Nigerian bicycle industry, reducing the numbers of bicycles riders in Nigeria from 2million to 0.2million.

However he believes that the trend is gradually changing, with many people all over cycling because of its numerous benefits, which include the reduction in the amount of carbon monoxide emitted into the environment. He also stated the health benefits of riding bicycles to include: cardiovascular fitness, balance and flexibility of the body, endurance and stamina, stress relive and burning of excess calories.

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Chellarams, Ekiti State Bons list on NSE – Business Day

Written by Balendran MidhushaanMarch 22, 2012
Chellarams, Ekiti State Bons list on NSE – Business Day 

Date: March 22, 2012

The Chellarams Plc’s N540 million unsecured floating rate bond 2019 of N1,000 each at par series 2 under the N5 billion medium term note programme was admitted on the daily official list of the Nigerian Stock Exchange (NSE) on Friday, March 16, 2012.

The coupon rate is Monetary Policy rate (MPR) + 5 (minimum 13 percent, maximum 19 percent). Since MPR is currently 12 percent, then the coupon  rate is 17 percent, which is paid semiannually – February 17 and August 17 each year – commencing August 17, 2012. The maturity date is February 17, 2019.

By this action, the number of listed corporate bonds and securities stand at 17 and 258, respectively.

In the same vein, the N20 billion Ekiti State government Fixed Rate infrastructure Development Bond (December 8) 2018 of NI 000 each at par under the N25 billion debt issuance programme, was admitted on the daily official list of the NSE on Tuesday, March 13, 2012.

The coupon rate is 14.5 percent. By this action, the number of listed state government bonds now stands at 12.

Nigerian quoted companies and corporate organizations raised N87 billion worth of bonds in 2011, according to data from the NSE. The Nigerian bond market closed 2011, according to data from the NSE. The Nigerian bond market closed 2011 generally trading at a deep discount to par value.

According to analysts at Meristem Scurities, current bond yields offer attractive real returns on a risk adjusted basis, with overall modified duration estimated at 3.1.

They note that if interest rates fall from current levels, 2012 presents an opportunity to lengthen portfolio duration using longer dated bonds with duration in excess of 3,11, in place of shorter duration instruments.

In our opinion, there is significant potential for capital gains on bonds in 2012, but since a substantial portion of the market’s holdings are in held-to-maturity’ portfolios, rates ill need to drop precipitously before profits are taken, they added.

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Chellarams Plc Issues 540M Series-2 Bond Under N5bn Medium Term Note Programme – Business Day

Written by Balendran MidhushaanFebruary 20, 2012
Chellarams Plc Issues 540M Series-2 Bond Under N5bn Medium Term Note Programme – Business Day      

Date: February 20, 2012

Chellarams plc last Thursday February 16, 2012 issued a N540 million bond. The bond which was approved by the Securities and Exchange Commission (SEC), is the series 2 senior unsecured floating Rate bonds under the N5billion Chellarams Plc Medium Term Note Progamme.

The issuer (Chellarams plc) was incorporated as a private limited company on 13thAugust 1947. The conglomerate was listed on the Nigerian Stock Exchange as a public company on November 29, 1990.

Documents made available to Business Ay at the available to Business day at the completion board meeting held in Lagos n Thursday February 12, 2012 in respect of the offer for subscription show that the issue is the Series-2 N540million (MPR + 5percent) Senior Unsecured floating rate Bond due February 17, 2019 with an issue price of N1,000 per unit. The Series 2 bond, was assigned a BBB- and BBB rating from Global Credit Rating and DataPro Limited respectively. This is the second bond issued under the N5billion Chellarams Plc Medium Term Note Programme.

the principal activities of Chellarams Plc and its subsidiaries comprise of distribution, trading, assembling of motorcycles and bicycles; manufacturing of bakery product packaging materials, chemical supplies, retail clothing, electronics, packaging of milk products and other dairy products. Sonnie Ayere, managing director/ chief executive officer, Dunn Loren Merrifield, the Issuing House/Book Runner said: “This Bond issuance is a reflection of the appeal of the corporate Bonds market. Furthermore, the rich history of the Chellarams Plc spanning over 60 years in Nigeria 1 issue contributed I no small measure to the Series 2 bond issuance.”

Speaking further, Ayere said that the proceeds of the bond will be applied towards replacing infrastructure investment in associated companies (Dynamic industries and Woolworths Retails Stores).

Woolworths Retails Store is 50:50 joint venture with Woolworth South Africa, while 55:56 percent of the issue will be to refinance maturing debt obligations to reduce the company’s interest burden.

Besides helping the nation’s capital market become more balanced corporate bonds help companies diversify their option for sourcing much needed funds, Ayere added.

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Chellarams, Woolworths Float N700m Firm

Written by Balendran MidhushaanOctober 19, 2011
Chellarams, Woolworths Float N700m Firm             

Date: October 19, 2011

One of Nigeria’s long standing conglomerated listed on the Nigerian Stock Exchange (NSE), Chellararns Plc, has signed a joint ‘ business partnership with Woolworths of South Africa to establish Woolworths Retail Stores Nigeria Limited.

Both firms would be injecting N 700 million into the Nigerian economy through the Nigerian economy through the new company that will begin with three stores in December. The three stores would be located in Palms Shopping ‘Mall, Victoria, Ikeja City Mall, Lagos and Polo Park Shopping Mall. Enugu respectively.

Woolworth is a South Africa with large chains of retail stores and has 350 stores and turnover of $4. billion.

On the other hand, Chellarams, which was established in Nigeria in 1923. is a diversified organization with operations in wholesales  & distribution, manufacturing. engineering, tourism, quick-service restaurants and power generation.

The joint venture was consummated last week with the signing of the memorandum of understanding in Lagos.

Speaking about the deal. the Woolworths Divisional Executive, International, Mr. John Fraser and Group Managing Director of Chellarams Mr. Suresh Chellarams, expressed confidence in-the joint venture.

“Our joint venture means we can deliver to customers the best retail offering 1 tailored to local market needs. Our partners bring knowledge of local trading conditions and we bring the quality, value, innovation and fashion our South Africa customer know and appreciate. It is the best of both worlds, Fraser said.

He added that the company was confident of its investment in Nigeria and were very pleased with the growth prospects of the Nigerian market.

The country  has a large population with significant and growing middle-and-upper income groups. We have found the right partner in Chellarams to grow the Woolworth brand in Nigeria.” he stated.

According to him. joint ventures with local partners, such as Chellarams were the new business model for Woolworths expansion  plans in other African countries “We have moved away from the franchise model we had in some African countries. It is not only a better profit model for Woolworths, but it is also better for customers,” Fraser said.

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Chellarams, Woolworths Seal Joint Partnership Deal In Nigeria – The Punch

Written by Balendran MidhushaanOctober 14, 2011
Chellarams, Woolworthsm Seal Joint Partnership Deal In Nigeria – The Punch     

 Date: October 14, 2011

Chellarams Plc and the South African firm, Woolworkths, have entered into a joint venture partnership.

A statement by Chellarams on Thursday said the partnership, which resulted in the establishment of Woolworths Retails Stores Nigeria Limited was consummated  Lagos recently with the signing of the Memorandum of Understanding and other necessary documents.

Following the partnership seven additional stores would be established under the auspices of Woolworths Retails Store.

The statement said. Woolworths Retail Stores Nigeria Limited is set to commence business in Nigeria with the planned opening of three stores in Nigeria n December 2011. in addition, and as a futurism agenda, seven more stores would be added to its chin of stores would be added to its chain of  stores in the next three years; making a total of 10. the first three stores will be located in the Victoria Island. Ikeja and Enugu.

It quoted Woolworths divisional Executive (International), Mr John Fraser, and the Group Managing Director of Chellarams Mr Suresh Chellarams as expressing confidence in the joint venture investment between the two firms in Nigeria.

The statement added, this confidence stems from the fact that Nigeria has a large population with growing middle class and upper income groups, as well as the development of retail shopping centers.

Fraser, on his part, was quote as saying. Our joint venture means we can deliver to customers the best retail offering possible tailored to local market needs. Our partners bring knowledge of local trading conditions and we bring the quality, value innovation and fashion our South African customer know and appreciate. It’s the best of both worlds

Fraser added tat Woolworths has refined and improved its merchandise offing for customers in selected African countries. The statement lo described Woolworths as one of the largest chains of retail stores in South Africa with over 350 stores and a turnover $4bn.

Woolworths South Africa. Which opened for business in 19312 is affiliated with marks and Spencer of united kingdom.

The statement further aid. I aims to open a further 16 stores in African countries this year taking the total number of stores to 60 in the current financial year. It currently operates stores in the following 10 African countries: Botswana Namibia Lesotho. Swaziland. Ghana. Kenya. Tanzania, Uganda, Zambia and Mozambique.

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