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VETERAN BANKER IS NEW PHILEXIM CEO |
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 Finance Secretary and Philippine Export-Import Credit Agency (PhilEXIM) Board Chairman Margarito B. Teves swears into office Francisco S. Magsajo Jr., a 30-year banking veteran, as the new president and chief executive officer of PhilEXIM, also known as the Trade and Investment Development Corporation of the Philippines. At the leadership turnover rites held recently, President Magsajo committed to broaden the agency’s revenue generation initiatives, strengthen the institutional finances, and critically align PhilEXIM towards industry best practices for better strategic marketability and business positioning. His predecessor, Virgilio R. Angelo, went on to become Chairman and CEO of the Small Business Guarantee and Finance Corporation, an attached agency under the Department of Trade and Industry.
January 10, 2008 |
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PhilEXIM’s developmental contributions strongest in 3 years |
State-owned sovereign guarantor Philippine Export-Import Credit Agency (PhilEXIM) has reported that its contributions to the country’s socio-economic development is at its strongest in three years since 2004. PhilEXIM President and CEO Virgilio R. Angelo said that from 2005 to September 2007, total guarantee issuances reached P8.41 Billion, significantly higher by 21 per cent than the previous level of P6.94 Billion registered during the previous three-year period of 2002-2004. In terms of financing for small and medium-scale exporter-entrepreneurs (SMEs), President Angelo said that PhilEXIM’s role was highlighted by its launch of the wholesale lending program, with program funding of P450.0 Million. In terms of volume of loan releases, SME-related industries benefiting from the lending mandate of PhilEXIM reached higher by 52 per cent in 2006.
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PhilEXIM revitalizes Gov’t Nautical Highway in P135-M ferry financing |
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The government has demonstrated its efforts to realize public transport efficiency with the inauguration of the P135-million ferry project that will benefit commuters of the Cavite City-SM Mall of Asia route, state-guarantor Philippine Export-Import Credit Agency (PhilEXIM) announced yesterday. PhilEXIM President Virgilio R. Angelo said the agency guaranteed the loan of Metrostar Ferry, Inc. (Metrostar) to realize the government’s Manila Bay Transport Project, one of the priority programs of President Arroyo. He said the project is envisioned as a nautical mode of public transport throughout the metropolis. “We hope the ferry service will bring about the use of water transport system as a major alternative to land-based services,” said Angelo. |
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