The University of Iloilo (UI) is already under new management. After the long negotiations it has already been acquired by the Philippine Investment Management, Inc. (PHINMA). PHINMA is a Manila based holding firm that engages in various industries such as business process outsourcing, education, energy, financial services, property & shelter and roofing. PHINMA owns the Philippine franchise of U.S. chain Microtel Inns & Suites.
Recently PHINMA plunged into Education venture with its acquisition of the three schools in the county namely; the Araullo University in Cabanatuan City, the Cagayan De Oro College and the University of Pangasinan. The fourth education investment of the company is the University of Iloilo. PHINMA said that they will be investing at least 1.5 billion in the UI (http://www.phinma.com/). “It disclosed to the stock exchange that its board had approved the purchase of 34,997 shares of the university from Inaec Agro-Industrial Corp. for P315 million.”
PHINMA is headed by Mr. Ramon R. Del Rosario, Jr. as its President and Chief Executive Officer that co-founded the company with his father. Mr Del Rosario served as Secretary of Finance of the Republic of the Philippines from 1992 to 1993, Executive Vice President and Chief Financial Officer of San Miguel Corporation from 1986 to 1989 and director in Petron Corporation, Meralco, Ayala Land, Holcim Philippines, Roxas Holdings, PSi Technologies, chairman of Board of Trustees of De La Salle University Manila and a lot more affiliations in big and rich companies in the country.
University of Iloilo formerly called the Iloilo City Colleges(ICC) was established by Don Fernando Lopez then mayor of Iloilo City in 1947. It gained its University status on December 17, 1968 and became the 32nd University in the Philippines. In 1972, the University Administration purchased the Philippine Women’s College in Jaro and was later converted into the Don Benito Lopez Hospital.
The take over of the new administration of UI from the Lopezes is expected to boost its performance and commitment in giving quality education to the Ilonggos. UI is always doing well under the Lopez’s administration and it is far from bankruptcy as it enlisted more and more students each semester. And UI College of Law is considered one of the best law schools in the city. The transition period is part of a change. UI students and employees cannot escape the effect of this transition and they are in good hands with PHINMA as its tagline says “Life Can Be Better”. Recently i’ve seen streamers around the city containing announcements of UI and its new tagline notably speaks of its change, it says: “UI & U: Walang Imposible”…
Website: http://www.ui.edu.ph
Update: Phinma acquired UI from the Lopez Group last April 2009 for P365 million.
Facebook
Twitter
