Senior officers of SB Capital Investment Corp., Asialink Finance Corp. and Security Bank at the ceremonial signing event for Asialink’s P2-billion corporate notes issuance
SB Capital president and chief executive Virgilio Chua noted the pivotal role that banks and financing institutions such as Asialink play in promoting financial inclusivity in a fast-developing economy like the Philippines. Citing a 2020 MSME Value Chain Rapid Response Survey, Chua said the United Nations Development Program determined that 99.5 percent of business establishments domestically are MSMEs with such businesses providing 63 percent of the Philippines’ workforce while contributing 40 percent of the nation’s GDP.
Asialink plans to use the proceeds from the notes issuance to support and finance expansion of the company’s loan portfolio, refinance existing short-term debt obligations and for general working capital requirements.