*on buyback* Phinma Corporation
...binili na St. Jude

Acquisition of St. Jude College, Inc. by PHINMA Education Holdings, Inc.

PHINMA Education Holdings, Inc., a wholly-owned subsidiary of PHINMA Corporation, signed a Share Purchase Agreement today for the purchase of 57,347 shares in St. Jude College, Inc. constituting 95.6% of the issued and outstanding shares of said school, for Php 370.2 million. The transaction also closed today. 

St Jude College, which is located in Manila, started as a School of Nursing in 1968 and is today a full service educational institution serving 3,050 students in basic education, college, and graduate school programs.

Known mainly for tertiary allied health science courses, it also offers programs in business, education, information technology, and hospitality.

Pls don't follow me....I'm lost too! hehe
...more details

Phinma buys St. Jude College for P370 million

PHINMA Corporation on Wednesday said its subsidiary acquired a majority stake in the company behind St. Jude College in Manila.

In a disclosure to the stock exchange, the listed company said Phinma Education Holdings, Inc. inked a share purchase agreement to buy 57,347 shares, representing 95.6%, in St. Jude College, Inc. Phinma said the transaction was valued at P370.2 million.

“The corresponding deeds of absolute sale were executed today and the transfer will be recorded in the books of St. Jude College upon issuance of the appropriate tax clearances,” the company said.

St. Jude College was established in 1968 as a School of Nursing, but is now a full service educational institution. It has 3,050 students enrolled in basic education, college, and graduate school programs. It offers courses in allied health sciences, business, education, information technology, and hospitality.

For the first nine months of 2017, Phinma Education reported its consolidated revenues were flat at P1.5 billion. Systemwide student enrollment went up by 8% to 58,837 for School Year 2017-2018.

“However, the government’s K to 12 education reform program, which adds two more senior high school years, continued to adversely affect college freshman enrollment in favor of senior high school enrollment, reducing the network average tuition per student. Operating expenses of the holding company also increased due to one-off business development expenses for local expansion and for setting up of operations abroad,” Phinma said in its third quarter report.

Pls don't follow me....I'm lost too! hehe

Phinma back in cement business

After a 14-year hiatus, the Phinma group has returned to the cement business to ride on the country’s projected infrastructure boom, reviving its old flagship brand “Union Cement” in a bid to rebuild a formidable market position.

By the first quarter of next year, a new cement factory with an initial capacity of two million tons a year in Bataan is expected to be operational, Eduardo Sahagun, president and chief executive officer of Phinma’s cement production arm Philcement Corp., said in a chance interview with the Inquirer last week.

But ahead of the completion of the brand-new plant, Sahagun said Philcement had started selling cement to the market, for now sourcing supply through toll manufacturing arrangement. This is to prepare the distribution network once the new plant becomes operational.

Union Cement will add about two million bags to the cement industry’s supply this year, he said.

“You have to build the channel. When the plant comes, how can you sell if you don’t have the channel?” said Sahagun.

“We reclaimed our old dominant brand,” said Phinma Corp. president and chief executive officer Ramon del Rosario Jr., referring to Union Cement.

Sahagun explained that Union Cement trademark was already registered with the Phinma group, having been abandoned by Holcim Philippines Inc.

The Phinma group sold its majority interest in Union Cement Holdings Corp. in 2004 and the business eventually became part of Holcim, currently the leading cement producer in the country.

Sahagun, a veteran in the cement industry, headed Holcim Philippines from 2013 until his retirement on April 2017.

Aside from heading Phinma’s new cement business, Sahagun is president and CEO of Phinma’s other subsidiary, Union Galvasteel, a market leader in the manufacturing and distribution of pre-painted and other galvanized roofing, and of galvanized steel building products such as building system components like steel deckings, c-purlins, door jambs, steel trusses, pre-engineered building structures and insulated panels for commercial, industrial and residential applications.

Sahagun said Union Cement had entered the cement market at a very competitive price of about P180 per bag for dealer pricing. But rather than the pricing, he said the group would compete “on the basis of quality and service.”

He is confident that Philcement could revive Union Cement as a very competitive brand and eventually build more capacity in the years ahead. He declined to say how much would be invested to build the first plant in Bataan.

Over the years he had spent in the cement industry, Sahagun said one key lesson would be to become a reliable supplier. “You look after the customer. In the end, if they need you and you are not there, it will cost them a lot of money,” he said.

Sahagun is unfazed by the bad earnings reports of many listed cement companies (except for Eagle Cement Corp.).

“It’s not that they can not sell. Their cost is higher and their price is down. But they can sell everything they have, they even imported a lot,” Sahagun said, noting that the cement industry imported about four million tons of clinker and 2.8 million tons of cement last year.

“So who will supply that? The new plants can’t catch up,” he said.

Sahagun is also confident that infrastructure spending in the country—in line with the government’s “Build, Build, Build” program—would pick up pace this year.


Phinma to spend up to P700 million for cement terminal in Bataan

The Phinma group is planning to shell out as much as P700 million for a cement plant in Bataan, in line with the company's recent revival of its Union Cement brand.

According to Phinma Corporation president and CEO Ramon del Rosario, Jr., the company will purchase a cement plant in Mariveles, Bataan that is set to be operational by May 2019.

"It's a cement terminal, because we will be importing the cement. It will be in Mariveles, and it will be able to accommodate two million tons," he told GMA News Online on the sidelines of the ASEAN Forum on Enterprise for Society.

"Initially, that's what we will use and then we will distribute all over the Philippines. For now, we do not intend to go beyond that because there's a surplus of cement in Southeast Asia anyway and in Asia in general," he added.

According to del Rosario, the terminal will cost between P500 to P700 million funded internally, and will be the hub for large vessels coming from Vietnam.

"Mariveles is a deep sea port and we want to bring in very large vessels from Vietnam—it's called a Panamax vessel—which improves the efficiency and the cost per bag," he said.

"If we can accommodate these types of vessels, then our cost per bag will go down and therefore we will be able to benefit the consumer at the end of the day," he added.

In 2004, the Phinma group sold its majority interest in Union Cement Holdings Corporation, which became part of Holcim Philippines Inc.

Holcim, one of the leading cement producers in the country, has since dropped the Union Cement brand.

"In the meantime, we're already beginning to import. I think we already brought in the first four shipments two million bags," del Rosario said.


Forum Jump:

Users browsing this thread: 1 Guest(s)