Kuala lumpur: CIMB Bank Bhd has announced a collaboration with Pharmaniaga Logistics Sdn Bhd, a fully owned subsidiary of Pharmaniaga Bhd, to improve supply chain financing and payment flexibility for small and medium enterprises (SMEs) in the healthcare sector. The partnership is set to benefit clinics, pharmacies, and medical buyers by providing them with greater financial flexibility.

According to BERNAMA News Agency, the collaboration will see CIMB and Pharmaniaga offering enhanced payment flexibility to downstream buyers, which include private clinics and independent pharmacies, through the CIMB SME BusinessCard. This initiative allows businesses to enjoy up to 50 days of extended credit when purchasing medical supplies, along with an unlimited 0.5 percent cash rebate on all Pharmaniaga purchases. This move aims to provide a valuable incentive for improving cash flow and optimizing working capital for these enterprises.

Lawrence Loh, the co-chief executive officer of CIMB Group, highlighted that by providing extended credit terms and early settlement incentives, the bank aims to assist clinics, pharmacies, and medical buyers in better managing their cash flow and reducing operational strain, thereby enhancing the quality of care they offer. He emphasized the bank’s intention to expand its healthcare SME portfolio through strategic collaborations and improved access to digital, sector-focused financing solutions.

Zulkifli Jafar, managing director of Pharmaniaga, stated that the collaboration demonstrates the company’s commitment to supporting its business partners with practical financial solutions to manage their supply chains more effectively. By offering greater payment flexibility and tailored financing options, Pharmaniaga aims to empower its partners to grow sustainably while ensuring continuous access to a wide range of pharmaceutical products, enabling them to serve their clients with confidence.