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March 01, 2024

Free and fair trade and investments important in post-pandemic ASEAN-Japan relations

Japan on Thursday committed to build a strong supply chain and pursue a free and fair trade and investment environment that it considers as essential for post-pandemic economic growth in the region.

Japanese Ambassador to the Philippines Kazuhiko Koshikawa delivered this remark at Thursday’s 47th ASEAN-Japan Business Meeting held online and hosted by the Philippines-Japan Economic Cooperation Committees or PhilJEC.

The PhilJEC is a private sector-led forum held each year as venue for dialogue between Japan and the ASEAN.

Ambassador Koshikawa acknowledged that Russias war on Unkraine exposed vulnerabilities on the global supply chain of critical and emerging technologies such as semiconductors as well as risks on regional interdependence.

It is important the supply chain remains strong and that free and fair trade and investment activities are kept to ensure continued growth down the line, he said.


Security Bank posts net income of PHP9.1 billion in 2023

Security Bank Corporation (PSE: SECB) posted net income of PHP9.1 billion in 2023. Total revenues grew 8% year-on-year to PHP43.0 billion. Net interest income increased 19% to PHP34.7 billion. Net interest margin for the full year was 4.49%, higher compared to 4.23% in 2022. Total non-interest income was at PHP8.2 billion. Service charges, fees and commissions grew 15% to PHP6.1 billion, led by increase in fees from credit cards, remittances (which include Instapay fees) and bancassurance.

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