NNA Asia top stories Tuesday, Nov. 20
TOKYO, NNA – The following are the top stories from NNA Asia for Tuesday, Nov. 20.
Japan's Denso uses Abeja's AI technology to streamline Thai auto parts plant
BANGKOK, NNA – Amid soaring labor costs in Southeast Asia, Japanese auto parts giant Denso Corp. will employ artificial intelligence to boost efficiency at its plant in Thailand, with the help of a Japanese tech venture.
Abeja Inc. said in a statement on Monday that it will work with Denso, a Toyota Motor group firm, using experience in deep learning to measure the speed and order of the human manufacturing process to optimize factory operations.
The two firms conducted a five-month test at the Thai plant through August and will apply the deep learning model there by yearend, eventually extending it to Denso’s other factories in Asia.
Aeon Credit issues new 1-billion-peso ADB-backed bond to fund consumer loans
MANILA, NNA – Aeon Credit Service (Philippines) Inc. has issued a new 1-billion-peso ($19 million) corporate bond backed by the Asian Development Bank to fund consumer loans for people without bank accounts.
The bond will be offered in two tranches, maturing in 2021 and 2023, to fund loans for the purchases of goods like auto-tricycles and home appliances.
The bond is the first in the Philippines guaranteed by the Credit Guarantee and Investment Facility, issued under the Multi-Currency Bond Issuance Framework, an initiative by the Association of South-East Asian Nations plus China, Japan and South Korea to develop markets for local currency-denominated corporate bonds issued in the region.
Taiwan Cement teams with Oyak in Turkey targeting Middle East, Europe
TAIPEI, NNA – Taiwan Cement Corp. will form a joint venture with Turkish conglomerate Oyak group to tap into the Middle Eastern and European markets.
Taiwan Cement’s wholly owned subsidiary in the Netherlands, Dutch TCC Holdings, will establish the Turkish unit taking a 40 percent stake. Oyak will hold the remaining 60 percent.
This is the first foray into Turkey for cement makers in Taiwan. Taiwan Cement is eyeing growing demand from the public and private construction sectors in these regions and will invest no more than $1.1 billion, Chairman An-ping Chang said in Taipei on Monday.