CIMB Group appoints Syed Zaid as chairman following Nasir’s retirement

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.