KUALA LUMPUR (Nov 28): Pharmaniaga Bhd and Selgate Corp Sdn Bhd's healthcare arm Selgate Healthcare Sdn Bhd have secured financing totalling RM360 million from Bank Islam Malaysia Bhd (BIMB) for the procurement, production and distribution of Covid-19 vaccines in support of the Nation Covid-19 Immunisation Programme (PICK).

In a joint statement Sunday (Nov 28), BIMB group chief executive officer (CEO) Mohd Muazzam Mohamed said the bank remains supportive in providing the necessary support required by its 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,” he said.

Mohd Muazzam added that even though Malaysia’s economy is expected to pick up as more economic activities are allowed — particularly with the resumption of interstate and overseas travel — the threat of Covid-19 infection is still imminent as positive cases in the country still number in the thousands.

“With the introduction of booster shots to better curb the spread of the virus, BIMB is glad to finance both Pharmaniaga and Selgate to supply the vaccine. As a bank that emphasises ‘advancing prosperity for all’,  BIMB is committed to addressing their various financial needs and contributing to the health and safety of the nation,” he said.

Pharmaniaga group managing director Datuk Zulkarnain Md Eusope said the group is prepared to supply the Sinovac Covid-19 vaccine as a booster dose to the state government and private sector, upon receiving the Drug Control Authority’s approval.

“The company expects demand from various sectors in securing the booster dose to help spur the economic growth, as part of the National Recovery Plan,” he added.

Meanwhile, Selgate Corp group CEO Noor Hisham Mohd Ghouth said the financial aid from BIMB is convenient, especially during the current crisis where liquidity remains the key to safeguarding the lives of the people.

“Following the success of inoculating over 90% of the adult population in Oct 2021, we are gearing up to provide the booster dose for the recipients of the Sinovac vaccines given out earlier during the Selangor Vaccination programme (SELVAX), 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,” he said.