KUALA LUMPUR: Pharmaniaga Bhd (Pharmaniaga) has taken up a financing facility from Standard Chartered Malaysia Bhd for the import and distribution of Sinovac Covid-19 vaccines to the public and private sectors.
This makes the pharmaceutical company the latest recipient of the bank's not-for-profit US$1 billion financing commitment to battle the pandemic.
The additional supply is expected to contribute positively to the country-wide vaccine rollout.
Pharmaniaga group managing director Datuk Zulkarnain Md Eusope said the company is supporting the government's fight against the pandemic by completing the contractual supplies of 12 million doses of Sinovac Covid-19 vaccines four months ahead of its delivery schedule, from November to July 2021.
"We appreciate the financing facilities provided by Standard Chartered Malaysia as it would help us to import and distribute the vaccines faster to the people," he said in a statement today.
Announced during the height of the pandemic in early 2020, Standard Chartered's financing initiative avails funds on a non-profit basis to companies who are associated with tackling Covid-19.
It also covers manufacturers and distributors who are planning to make the switch to produce goods and services that are essential to fighting the pandemic.
Standard Chartered Malaysia managing director and chief executive officer Abrar A Anwar said access to funds is crucial to Malaysia's economic recovery following a crisis of this magnitude.
"It's a humbling experience for us, to be given the opportunity to be part of a collective effort tirelessly fighting an uphill battle to end the pandemic.
"With deep commitment to Malaysia for more than a century, it's our responsibility to contribute towards supporting the country's vaccination drive by rising above commercial interest and deploying our Covid-19 funds through our esteemed clients such as Pharmaniaga," he said.
The bank will continue to serve all clients during what is a challenging period for all companies, from small businesses to large multinationals.