KUALA LUMPUR – Bank Islam Malaysia Bhd has approved financing facilities of RM360 million to Pharmaniaga Bhd and Selgate Healthcare Sdn Bhd for the procurement, production and distribution of Covid-19 vaccines in support of the National Covid-19 Immunisation Programme.
Bank Islam Group chief executive officer Mohd Muazzam Mohamed said the approved financing facilities with flexible terms and conditions are meant to assist companies involved in 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.
“With the introduction of booster shots to better curb the spread of the virus, Bank Islam is glad to finance both Pharmaniaga and Selgate to supply the vaccine,” he said in a statement today.
In the same statement, Pharmaniaga managing director Datuk Zulkarnain Md Eusope said the company is ready to supply the Sinovac vaccine to state governments and the private sector upon the approval of the Drug Control Authority as a booster dose.
“The company expects demand from various sectors in securing the booster dose would help spur the economic growth as part of the National Recovery Plan,” he said.
Meanwhile, Selgate Corporation group chief executive officer Noor Hisham Mohd Ghouth said the financial aid from Bank Islam provides convenience to the company, especially during the current crisis where liquidity remains key to safeguard the lives and livelihoods 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 to the recipients of the Sinovac vaccine, given out earlier during the Selvax programme, as well as to any individual above the age of 18 who would like to get a booster shot,” he added. – Bernama, November 28, 2021
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