^

Phinma raises 2016 capex

(The Philippine Star) - November 29, 2015 - 9:00am

MANILA, Philippines - Seeing huge potential for the country’s education and energy sectors, investment holding firm Phinma Corp. is jacking up big time its capital spending next year to beef up its presence in these two sectors, its top official told The STAR.

In a chance interview, Phinma president and chief executive officer Ramon del Rosario Jr. said the group’s capital expenditures would be significantly bigger for 2016 compared to its spending this year without disclosing specific figures.
He said next year’s spending program would be financed by a combination of capital raising and debt.

“Looking forward we got plans for energy and education in which we’re very enthusiastic in particular. All of our businesses are on growth mode still but the flagships have really evolved in the education business and the energy business. Those are the two principals and in both of those we have very aggressive plans to continue our growth,” he said.

For its growing education business, Del Rosario said the company is looking to continue its acquisition spree next year, particularly in areas where it does not have presence yet.

“We think there will be opportunities because of the K-to-12 transition. Not everybody will be able to navigate to the K-to-12 very successfully and therefore we’re hoping – not that schools go through difficulty – but we’re hoping that there will be opportunities that we can look at. We’re interested in a Metro Manila school and maybe in centers like Davao and Cavite or Laguna,” Del Rosario said.

Phinma’s education arm in August this year has acquired an additional 10.62 percent stake in Southwestern University for P367.8 million, bringing its total shareholdings to 67.45 percent.

Southwestern University is Phinma’s fifth school in its portfolio along with the University of Iloilo, Araullo University, Cagayan de Oro College and University of Pangasinan.
Del Rosario said Phinma’s energy unit Trans-Asia Oil and Energy Corp. would also pursue bolstering its presence in the local power sector.

“Second line of our Calaca plant in Batangas is nearing completion. The first 135 megawatts (MW) has been on stream for some months already. We’re in the process of commissioning the second 135 MW,” he said.

“When you add together our total portfolio for power now is about 500 MW. It’s significantly enough at this day but we want to build it some more. We want to double it by 2020,” Del Rosario added.

Aside from energy and education, the Phinma Group is also into hotels, real estate, consultancy and steel products.

ACIRC ARAULLO UNIVERSITY DAVAO AND CAVITE DEL ROSARIO METRO MANILA ORO COLLEGE AND UNIVERSITY OF PANGASINAN PHINMA PHINMA CORP PHINMA GROUP ROSARIO JR. SOUTHWESTERN UNIVERSITY
Philstar
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with