Let B1 = 1/B. Then what you are describing is a "direct product" that involves A and B1.
SAS/IML has two direct products: the "full" direct product is P=A@B. Your example is the first and last column of that direct product.
The second direct product is computed by using the HDIR function. What you want is the transpose of HDIR(A`, B1`).
If this is something you intend to use often, you might want to use the following helper function:
start VDIR(A,B);
return( T(hdir(A`,1/B`)) );
finish;
C = VDIR(A,B);