Latest news with #CIMB
New Straits Times
3 days ago
- Business
- New Straits Times
CIMB, Pharmaniaga team up to boost financial flexibility for healthcare SMEs
KUALA LUMPUR: 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.
The Star
3 days ago
- Business
- The Star
CIMB Group appoints Syed Zaid as chairman following Nasir's retirement
Datuk Syed Zaid Albar - RAJA FAISAL HISHAN/The Star KUALA LUMPUR: CIMB Group Holdings Bhd has redesignated Datuk Syed Zaid Syed Jaffar Albar as its independent and non-executive chairman, effective July 20, 2025. Syed Zaid, 71, succeeds Tan Sri Mohd Nasir Ahmad, who retired from the board on July 19. The board of CIMB Group will comprise nine members effective July 20. Syed Zaid will serve as the independent and non-executive chairman, with Muhammad Novan Amirudin as group chief executive officer and executive director, and Didi Syafruddin Yahya as senior independent director. Other members include Datuk Lee Kok Kwan and Tengku Datuk Seri Azmil Zahruddin Raja Abdul Aziz as non-independent directors, along with Shulamite N K Khoo, Ho Yuet Mee, Datin Azlina Mahmad, and Lyn Therese McGrath as independent directors. Meanwhile, CIMB Bank Bhd has signed a collaboration agreement with Pharmaniaga Logistics Sdn Bhd, a wholly owned subsidiary of Pharmaniaga Bhd, to enhance supply chain financing and improve payment flexibility for SMEs in the healthcare sector. The bank said the partnership aims to provide greater financial flexibility to clinics, pharmacies and medical buyers across the sector. Under the collaboration, CIMB and Pharmaniaga will offer enhanced payment flexibility to private clinics and independent pharmacies via the CIMB SME BusinessCard. CIMB said businesses can enjoy up to 50 days of extended credit and earn a 0.5% unlimited cash rebate on all Pharmaniaga purchases, helping improve cash flow and optimise working capital. CIMB Group co-chief executive officer of group commercial and transaction banking, Lawrence Loh, said the partnership with Pharmaniaga aims to provide practical and value-added financing support for healthcare SMEs. He said these businesses are essential to Malaysia's healthcare ecosystem, and equipping them with the right financial tools is vital to enhancing their resilience and ability to deliver quality care. 'By offering extended credit terms and early settlement incentives, we help clinics, pharmacies, and medical buyers better manage cash flow, reduce operational strain, while enhancing the quality of care they provide,' he said. Meanwhile, Pharmaniaga managing director Zulkifli Jafar said: 'We encourage more clinics, pharmacies and healthcare SMEs leverage on this facility to ease daily operational and financial challenges.' '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 added.
Straits Times
3 days ago
- Business
- Straits Times
Look for income-paying assets amid uncertainties: CIMB Bank
Find out what's new on ST website and app. CIMB expects fixed income will outperform, at least in the second half of the year, while it is staying neutral on equities. SINGAPORE – Investors can navigate volatile markets by focusing on investments that generate income, such as fixed income securities and shares, noted CIMB Bank on June 18. Mr Jason Kuan, Singapore director of investment research and advisory at its Chief Investment Office, told a briefing that the US tariff announcements in April prompted customers to ask the bank if they should adjust their portfolios or even sell up. 'We've always advocated that you should build a globally diversified portfolio,' noted Mr Kuan. 'But probably more importantly, it is to stay invested. And the best way is to weather the volatility because these things come time and time again.' He also backed investments that pay dividends: 'This income can really help to cushion volatility in the portfolio. When things start to finally settle, you can shift your assets over to more growth-oriented and more exciting stuff.' Mr Kuan said CIMB expects that fixed income will outperform, at least in the second half of the year, while it is staying neutral on equities. He also referred to Singapore as 'a harbour in choppy waters', one that offers neutrality and a relatively stable currency, so investors could consider Singapore dollar assets as part of their diversified portfolios. Top stories Swipe. Select. Stay informed. Singapore 30% of aviation jobs could be redesigned due to AI, automation; $200m fund to support workers: CAAS Singapore HSA looking to get anti-vape cyber surveillance tool with AI capabilities Singapore Alleged Kpod peddler filmed trying to flee raid in Bishan charged with 6 offences Singapore NTU upholds zero grade for student who used AI in essay; panel found 14 false citations or data Singapore Character counts as much as grades: Desmond Lee tells students after a class on race and culture Singapore Residents in South West District get help to improve employability, find career opportunities Life Kinokuniya opens third bookstore at Raffles City, weeks ahead of schedule Business DBS shares rally to a new record as STI clocks yet another high 'This can be in the form of shares listed on the Singapore Exchange, Singdollar-denominated bonds or hedged share classes for mutual funds.' Mr Kuan added that the Singdollar has been appreciating against the weakening US dollar and expects this to continue. The Singdollar is up more than 6 per cent against the greenback in 2025. He is also hopeful of an upswing in the fortunes of the Singapore stock market, in the light of the Monetary Authority of Singapore announcing measures in February to revive the bourse. Mr Jason Kuan, CIMB Singapore's director of investment research and advisory at its Chief Investment Office, told a briefing that the US tariff announcements in April prompted customers to ask the bank if they should adjust their portfolios. PHOTO: CIMB Mr Kuan noted that the stock market is largely capitalised by the three local banks – DBS, OCBC and UOB – and other blue-chip stocks. 'They are trying to find ways to re-energise the Singapore equity market and really to get more companies to list here. So we look forward to that.' National projects could also boost the economy amid a weaker global economic outlook and the impact of US tariffs, he said. The Singapore Government in April lowered its forecast for 2025 growth to 0 per cent to 2 per cent, from a range of 1 per cent to 3 per cent previously. The construction of Changi Airport's Terminal 5 and the expansion of Marina Bay Sands continue to provide support for the Singapore economy and jobs market, he added.
Barnama
3 days ago
- Business
- Barnama
CIMB Inks a Collaboration With Pharmaniaga To Enhance Financial Flexibility For Healthcare SMEs
KUALA LUMPUR, July 18 (Bernama) -- CIMB Bank Berhad ('CIMB' or 'the Bank') has signed a Collaboration Agreement ('Collaboration') with Pharmaniaga Logistics Sdn Bhd, a wholly owned subsidiary of Pharmaniaga Berhad ('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. 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 Card'). Businesses can enjoy 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, offering a valuable incentive to improve cash flow and optimise working capital.
Free Malaysia Today
5 days ago
- Business
- Free Malaysia Today
Bursa flat in early trade after downbeat Wall Street performance
KUALA LUMPUR : Bursa Malaysia made a flat start on Wednesday, following the downbeat performance on Wall Street overnight. At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched down 0.29 of a point, or 0.02%, to 1,525.11 from Tuesday's close of 1,525.40. The benchmark index opened 1.63 points lower at 1,523.77. The market breadth was weaker, with decliners outnumbering gainers 178 to 108, while 282 counters were unchanged, 1,877 untraded, and eight suspended. Turnover stood at 165.78 million shares worth RM85.02 million. Malacca Securities Sdn Bhd said Wall Street's initial rally faded as hotter-than-expected inflation data failed to ease tariff concerns and increased bets that the US Federal Reserve will hold interest rates. 'Following Wall Street's downbeat performance, the local bourse could start on a weaker tone. However, we believe the overall situation may favour the technology stocks with the resumption of chip sales in China, and the technology sector on the local front may see decent buying interest,' it said in a note today. The brokerage firm also favours the real estate investment trusts sector on the back of the recent Bank Negara Malaysia overnight policy rate cut, 'while the consumer sector may benefit from downtrading activities as inflationary pressures remain sticky.' Among the heavyweight counters, Maybank fell one sen to RM9.64, Tenaga Nasional lost six sen to RM13.84, and CIMB was three sen lower at RM6.60. Public Bank gained one sen to RM4.27 while IHH Healthcare was flat at RM6.58. In active trade, NexG added half a sen to 48 sen, Nationgate went up by two sen to RM1.51, Green Ocean Corporation inched up one sen to 13.5 sen, Zetrix AI was 1.5 sen higher at 94.5 sen, and TWL remained unchanged at 2.5 sen. On the broader index board, the FBM Emas Index dropped 7.99 points to 11,468.09, the FBMT 100 Index slipped 6.30 points to 11,231.31, and the FBM Emas Shariah Index eased 3.44 points to 11,479.74. The FBM 70 Index narrowed 27.40 points to 16,661.0, while the FBM ACE Index inched down four points to 4,583.62. By sector, the Financial Services Index declined 17.28 points to 17,485.37, the Energy Index edged down 0.93 of a point to 737.99, and the Plantation Index improved 13.63 points to 7,432.05. The Industrial Products and Services Index shaved 0.02 of a point to 153.37.
