STANDARD CHARTERED PARTNERS CHEMOPHARM IN FIGHT AGAINST COVID-19

KUALA LUMPUR, July 9 -- Standard Chartered Bank Malaysia Bhd has partnered with Chemopharm Sdn Bhd as part of its commitment to financially back manufacturers and distributors who are contributing to the battle against the COVID-19 pandemic.

Chemopharm is one of Malaysia’s leading distributors of diagnostic and scientific equipment, including medical devices and diagnostic kits that could be used in the diagnosis, treatment and monitoring of COVID-19 patients.

In a statement, Standard Chartered said the funding will help the company ramp up its supply of products to meet the increased healthcare demand resulting from the COVID-19 crisis.

In April, the bank announced that it has committed to provide US$1 billion (US$1 = RM4.26) of financing on a non-profit basis for businesses associated with the fight against the COVID-19 pandemic. 

The financing is provided in the form of loans, import and export finance as well as working capital facilities used for daily operations and to get the products to the market.

“COVID-19 created an urgent need for medical services throughout the country and Standard Chartered’s funding will enable us to work with key stakeholders to ensure that the tools critical to fighting COVID-19 are available in the market as soon as possible,” said Chemopharm group chief executive officer Mok Hueh Min.

Chemopharm is part of Everlife Holdings Pte Ltd, a group of companies in Southeast Asia and India that represents more than 200 international principals in the healthcare, analytical and life sciences industries.

In Malaysia, Chemopharm has been providing healthcare solutions for clinical diagnostics and hospital equipment for over 40 years.

-- BERNAMA