Phinma new leadership to continue core business strategy
Diversified conglomerate Phinma Corp.’s new leaders pledged to continue the company’s long-tradition of “making lives better” while capturing new opportunities in the postpandemic period.
Phinma, whose businesses span education, property development, construction materials and hospitality, saw a major management revamp after Oscar J. Hilado stepped down as chair—a role he had held since 2003—and assumed the title of chair emeritus.
Ramon Del Rosario was named chair and CEO while the president and chief operating officer job was given to Meliton “Chito” Salazar Jr., who vowed continuity in their business strategy.
“Phinma banks on its 66 years of mission-driven businesses in treading new terrain and facing new challenges. We draw from experience as we answer the call to make business a force for doing good,” said Salazar.
The company underscored the expansion of its education arm, which completed the acquisition of Phinma Union College of Laguna in 2021.
Phinma Education had over 124,000 students across nine schools in the Philippines and Indonesia as of September this year.
Moreover, around 60 percent of the student population benefitted from its Hawak Kamay scholarship program, which reduces tuition fees by as much as 75 percent based on capacity to pay.
Del Rosario described their strategy as seeking “gaps” in society where the company could contribute while achieving their business goals.
“The current landscape has given us the opportunity to spot these gaps more quickly and has obliged us to respond more quickly as well. We pursue our mission of ‘making lives better’ with ever-growing fervor,” del Rosario said in the statement.
The company is present in the construction materials segment via Union Galvasteel Corp., Philcement Corp., and Phinma Solar Energy Corp.
These businesses benefit from the bright outlook for public infrastructure and residential construction activities, according to the conglomerate.
“As the Philippine economy slowly recovers from the pandemic disruptions, the construction arm of the group has capitalized on strategic partnerships, operational efficiencies, and margin optimization initiatives,” Phinma said.
Phinma is moving forward with the expansion of its flagship hotel, Microtel by Wyndham, which will involve building sites in more areas due to growing demand.
Phinma Properties will also launch horizontal projects in so-called emerging cities outside central business due to capitalise on workers’ demand for hybrid work arrangements.
The company further cited its expansion into mixed-use developments, such as townships in Western Visayas and other emerging regions.
It recently launched Metrotowne, a medium-rise condominium in Las Piñas, Uniplace, a residential and dormitory development located at the Southwestern University Village in Cebu City, and Phinma Maayo San Jose, a 9.5-hectare horizontal development in Batangas.
“I have full confidence in Ramon and Chito that they will lead Phinma towards the realization of our goal of making the essentials to a dignified life more accessible to more families. Phinma has weathered many crises in its 66 years of existence, and it has always come out stronger and wiser. I am sure this time will be no different,” Hilado said in the same statement.
