GSIS, DBP, PBB lend P8.3B to complete
SteelAsia’s P18B world-class mill
The Government Service Insurance System (GSIS), the Development Bank of the Philippines (DBP) and Philippine Business Bank (PBB) granted SteelAsia Manufacturing Corp.late April an P8.3-billion loan to complete its P18-biliion steel section mill in Lemery, Batangas. The plant will be the Philippines’ first such mill and will be fully commissioned in 2025. It will substitute the importation of steel sections products like H beams, I beams, and angle bars that are used for infrastructure like bridges, railways, high-rises, industrial buildings, telco towers and transmission towers.
Signing the loan agreement are, from left: Representing Secretary Frederick Go of the Office of the Special Assistant to the President for Investment and Economic Affairs Assistant Secretary Marvin Jason Bayang; president and CEO, PBB Rolando . Avante; chairman and CEO, SteelAsia Benjamin Yao; GSIS president and GM Jose Arnulfo Veloso; DBP president and CEO Michael De Jesus; and SteelAsia director Rene Buenaventura.
Loan channel partnership
Tala Philippines and Maya Bank formalized their pioneering loan channeling partnership worth an unprecedented P2.75 billion, making it the largest partnership between a digital bank and fintech in the country.
This partnership was officially launched during a signing ceremony at Seda BGC in Taguig City with (from left) Moritz Gastl, general manager of Tala Philippines; Angelo Madrid, president of Maya Bank, and Charisse Alvarez, president and head of Finance of Tala Philippines.
Accelerating generative AI capabilities
Cloudera, the data company for trusted enterprise AI, today announced a strategic partnership with Aboitiz Data Innovation (ADI), a forward-thinking data science and AI specialist.
Cloudera’s true hybrid data platform for data, analytics, and AI and machine learning solutions, combined with ADI’s rich experience in Apache Spark and successful deployment of AI-powered solutions, will empower financial services and industrial customers in Asia Pacific to more effectively operationalize data science and AI across diverse business verticals.
ADI will provide consultancy and implementation services on Cloudera software in the areas of enterprise AI/ML/AI Lab, data governance and ethics.
The collaboration with ADI will explore powerful generative AI (GenAI) applications within Cloudera solutions using Accelerators for Machine Learning Projects (AMPs) and offering end-to-end examples, jumpstarting any enterprise’s machine learning (ML)/GenAI development journey. These customizable solutions enable organizations to more quickly and intuitively build, adapt and deploy GenAI applications for specific use cases, spanning data ingestion, engineering, data lake design, data quality, ML model and app development and operational efficiency.
“ADI will build GenAI solutions on Cloudera’s platform, helping customers turn AI hype into business reality,” said Remus Lim, SVP for Asia Pacific and Japan at Cloudera. “In addition to delivering powerful GenAI capabilities and performance to customers, the results of this partnership will empower enterprises to make more accurate and timely decisions, making data and advanced AI processes easier and faster across the enterprise, increasing revenue generation and optimizing cost. We look forward to supporting our customers in deploying AI at scale across the enterprise.”
Security Bank partners with AIM
Security Bank joined forces with the Asian Institute of Management (AIM) on the Bank Leadership Advancement and Skills Training (BLAST) program for members of the executive and senior management teams.
The BLAST program, ran by AIM’s School of Executive Education and Lifelong Learning and SBC Academy, the Bank’s internal development arm, saw twenty-six senior leaders complete the course.
The program, spanning from October 2023 to February 2024, aimed to enhance the competencies and capabilities of the Bank’s leaders. The program’s graduates celebrated their achievement at the Aboitiz Tech Space at AIM’s Main Campus in Makati City, confirming their membership in the Institute’s expanding network of leaders.
