Del Rosario, Salazar named to top posts in Phinma Corp

MANILA, Philippines — Phinma Corp., the diversified conglomerate of the Del Rosario Group, has named long time executive Chito Salazar as its new president who will concurrently serve as COO and head of education.

Salazar succeeds Ramon del Rosario as president. Del Rosario is now chairman and CEO of the conglomerate.

Oscar Hilado, who has led Phinma as chairman of the board since 2003, stepped down earlier this year and will stay as the company’s chairman emeritus.

Phinma is in a wide array of businesses namely education, construction materials, property development, and hospitality.

It is leveraging its growth to fuel the company’s post-pandemic business plans.

“Phinma has always aimed to find the gaps in our society – here in the Philippines and elsewhere – where we can help. 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.

The conglomerate’s new leaders are eager to roll out its post-pandemic plans, which include expanding its business units as the country slowly returns to normalcy.

“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.

Last September, PHINMA Education welcomed over 124,000 students across nine schools in the Philippines and one in Indonesia for school year 2022 to 2023.

This year, PHINMA Properties will launch horizontal projects in emerging cities outside central business districts as a way to meet the new demand driven by the pandemic.

The company is also expanding into mixed-use developments, such as townships in Western Visayas and other emerging regions.

It 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.

PHINMA is supporting PHINMA Properties by approving an investment of up to P420 million for the development of a township division.

In the first half of the year, PHINMA. posted a net income of P8.6 billion, up by 10.1 percent .