CIMB Bank Berhad signed a collaboration agreement with Pharmaniaga Logistics Sdn Bhd, seeking enhanced supply chain financing and improved payment flexibility for small and medium enterprises in the healthcare sector.
According to a press release, the partnership brings in better payment flexibility to downstream buyers including private clinics and independent pharmacies through CIMB SME BusinessCard.
Under the deal, businesses can have up to 50 days of extended credit when purchasing medical supplies using the Card and get unlimited 0.5% cash rebate on all Pharmaniaga purchases, with a valuable incentive to improve cash flow and optimise working capital.
CIMB says the partnership "exemplifies their commitment" to embedding needs-based financial innovation within supply chains across high-impact sectors.
