KUALA LUMPUR: Bank Islam Malaysia Bhd has approved financing worth RM360 million to Pharmaniaga Bhd and Selgate Healthcare Sdn Bhd for the procurement, production and distribution of Covid-19 vaccines.
Prior to this, Bank Islam's exposure to the healthcare industry is over RM250 million.
Bank Islam group chief executive officer Mohd Muazzam Mohamed said the bank had been 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-19-related supply chain to procure the needed items," he said in a joint statement today.
"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."
Muazzam added that as a bank that emphasised "Advancing Prosperity for All", Bank Islam was committed to addressing their various financial needs and contributing to the health safety of the nation,
Pharmaniaga group managing director Datuk Zulkarnain Md Eusope said the company was ready 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 part of the National Recovery Plan," he said.
Selgate group chief executive officer Noor Hisham Mohd Ghouth said the financial aid from Bank Islam was 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 per cent 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," he added.