KUALA LUMPUR, 28 November 2021: Bank Islam Malaysia Berhad (“Bank Islam or the Bank”) recently approved financing facilities of RM360 million to Pharmaniaga Berhad (“Pharmaniaga”) and Selgate Healthcare Sdn Bhd (“Selgate”) for the procurement, production and distribution of COVID-19 vaccines in support of the National COVID-19 Immunisation Programme.
Bank Islam Chief Executive Officer, Mohd Muazzam Mohamed, said, “The Bank has been supportive in providing the necessary support required by our customers. It includes approving financing facilities with flexible terms and conditions to assist companies involved with the COVID-related supply chain to procure the needed items. At present, the Bank’s exposure to the Healthcare industry is over RM250 million, and we stand ready to assist companies with urgent financial needs to combat the pandemic effectively.”
“Malaysia’s economy is expected to pick up as more economic activities are allowed, particularly with the resumption of interstate and overseas travel as well as the re-entry of foreign workers back into the country after more than 16-month hiatus due to the COVID-19 pandemic. This follows the success of achieving a 90% vaccination rate among adults in the country, and as more states are upgraded to the following stage under the National Recovery Plan (“NRP”). However, the threat of COVID-19 infection is still imminent as the number of positive cases around the country is still in the thousands. As a Bank that emphasises Advancing Prosperity for All, Bank Islam is committed to addressing their various financial needs and contributing to the health safety of the nation,” Muazzam adds.
Pharmaniaga Group Managing Director, Datuk Zulkarnain Md Eusope said: “We are prepared to supply the Sinovac COVID-19 vaccine to the state governments and private sector upon the approval from the Drug Control Authority, as a booster dose. The company expects demand from various sectors in securing the booster dose to help spur the economic growth as we move to the next phase of NRP.”
SELGATE Corporation Group Chief Executive Officer, Noor Hisham Mohd Ghouth said: “The financial aid from Bank Islam is convenient, especially during the current crisis where liquidity remains the key to safeguard the lives of the people. Following the success of inoculating over 90% of the adult population in October 2021, we are gearing up to provide the booster dose for the recipients of the Sinovac vaccines given out earlier during the SELVAX programme and also any individual above the age of 18 who would like to get a booster. We are also open to bulk purchases of the vaccines from private clinics and hospitals.”
