KUALA LUMPUR, July 18 (Bernama) -- CIMB Bank Bhd has signed a collaboration agreement with Pharmaniaga Logistics Sdn Bhd, a wholly owned unit of Pharmaniaga Bhd (Pharmaniaga), to enhance supply chain financing and ease payment flexibility for small and medium enterprises (SMEs) in the healthcare sector.
The partnership aims to provide greater financial flexibility to clinics, pharmacies and medical buyers across the sector, CIMB said.
“Under the collaboration, CIMB and Pharmaniaga will offer enhanced payment flexibility to downstream buyers including private clinics and independent pharmacies through CIMB SME BusinessCard,” the bank said in a statement today.
Businesses can enjoy up to 50 days of extended credit when purchasing medical supplies using the card and get unlimited 0.5 per cent cash rebate on all Pharmaniaga purchases, offering a valuable incentive to improve cash flow and optimise working capital.
Lawrence Loh, CIMB Group co-chief executive officer (group commercial and transaction banking), said that by offering extended credit terms and early settlement incentives, the bank is helping clinics, pharmacies, and medical buyers better manage cash flow and reduce operational strain while enhancing the quality of care they provide.
“We aim to further expand our healthcare SME portfolio, driven by strategic collaborations with ecosystem partners and enhanced access to digital, sector-focused financing solutions,” he said in the statement.
Meanwhile, Pharmaniaga managing director Zulkifli Jafar said this collaboration reflects the pharmaceutical company’s strong commitment to supporting its valued business partners with practical financial solutions to manage their supply chains more effectively.
“By offering greater payment flexibility and tailored financing options, we aim to empower our partners to grow sustainably while ensuring continuous access to a broad range of pharmaceutical products to serve their clients with confidence,” he said.
-- BERNAMA
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