Phinma Group mulls cement, hospitality businesses in Cebu

CEBU, Philippines — Aside from education, publicly-listed Phinma Corporation have expressed interest to make significant footprint in hospitality and cement businesses in Cebu, its top executive said.

Phinma Group president and chief executive officer (CEO) Ramon R. Del Rosario Jr., announced that Cebu is not just a fertile ground for the company's expansion in education, but also other industries such as cement and hotel investments.

"We will re-enter the cement market in Cebu in a modest way," said Del Rosario who was in Cebu recently to grace the new Southwestern University (SWU Phinma) new main building.

Del Rosario, a former secretary of the Department of Finance said that the government's serious implementation of build-build-build fueled Phinma's interest to invest more in the cement market, and Cebu he said is one of the promising markets for cement.

Although acquiring or establishing a cement plant could be possible, Del Rosario said Phinma will enter Cebu in the cement distribution initially through importation.

Aside from the sustained real estate growth in this side of the country, the government's build-build-build program also triples the demand forecast for cement all corners of the country.

Phinma Group successfully acquired major stake of the Aznar family-owned educational institution the Southwesten University in 2015. Now, the university is known as SWU Phinma.

In an interview with The Freeman, Del Rosario bared that the group is also serious in looking at partners or acquire properties for its interest in the hospitality sector in Cebu.

The Group owns the Microtel by Wyndham master franchise in the Philippines, through Phinma Microtel Hotels Inc.,

According to Del Rosario Microtel will make its re-entry in Cebu.

The listed company is also involved in manufacturing and distribution of steel products through Union Galvasteel Corp., education through Phinma Education Holdings, Inc., business research through Fuld & Company., and real estate through P&S Holdings Corp.