It all started from a mere rumor.
And it turns out that the rumor is true: The Lopezes no longer own the University of Iloilo.
No, it's not Lucio Tan this time.
Instead, it's the Philippine Investment Management (PHINMA), Inc--a Makati-based company whose core businesses include construction, financial management, real estate, and oil exploration and processing--that now owns UI.
PHINMA--which also owns Araullo University in Nueva Ecija and Cagayan De Oro College in Misamis Oriental--is being headed by Makati Business Club's incumbent chairman and former
finance secretary during the time of president Fidel V Ramos, Ramon R Del Rosario Jr.
Besides being the top honcho of PHINMA, he also serves on the boards of directors of Ayala Land, Inc; Holcim Philippines, Inc; Trans-Asia Oil and Energy Development Corporation; Asian Institute of Management; De La Salle Philippines; and a host of other big companies and institutions with rich-sounding names.
With Mr Del Rosario's impressive track record, the students of UI hope that they'll be in better hands with PHINMA, which has reportedly made unprecedented improvements in the two said schools it now owns.
Hopefully, this change in management should also mean better facilities, better instruction, better policies, better graduates, even better board exams ratings, and a better stature altogether for UI.
After all, PHINMA's corporate tag line (according to its website) is "Life Can Be Better."
Sources say negotiations regarding UI's buyout may have begun as early as 2005. The agreed amount of sale is unknown...yet. Rumors have it though that UI's old owners raked in nearly a billion.
In 2003, PHINMA set to build a network of three to five universities and colleges all over the country with a combined student population of 50,000 to 75,000.
Among its investment options were Araullo University in Cabanatuan City, the University of Pangasinan, Computronics College in Dagupan City, the University of Iloilo, and West Negros College in Bacolod City.
In April 2004, PHINMA acquired Araullo University, and Cagayan De Oro College in June 2005.
UI will be officially taken over by its new owners between March and June 2009.
Meanwhile, as of this writing, all UI employees--from members of the board of trustees down to the janitors--are preparing their service records, personal files and things, updated curriculum vitae for most, and retirement applications for some.
Photo Source: Philippine Business Magazine Website
And it turns out that the rumor is true: The Lopezes no longer own the University of Iloilo.
No, it's not Lucio Tan this time.
Instead, it's the Philippine Investment Management (PHINMA), Inc--a Makati-based company whose core businesses include construction, financial management, real estate, and oil exploration and processing--that now owns UI.
PHINMA--which also owns Araullo University in Nueva Ecija and Cagayan De Oro College in Misamis Oriental--is being headed by Makati Business Club's incumbent chairman and former
finance secretary during the time of president Fidel V Ramos, Ramon R Del Rosario Jr.
Besides being the top honcho of PHINMA, he also serves on the boards of directors of Ayala Land, Inc; Holcim Philippines, Inc; Trans-Asia Oil and Energy Development Corporation; Asian Institute of Management; De La Salle Philippines; and a host of other big companies and institutions with rich-sounding names.
With Mr Del Rosario's impressive track record, the students of UI hope that they'll be in better hands with PHINMA, which has reportedly made unprecedented improvements in the two said schools it now owns.
Hopefully, this change in management should also mean better facilities, better instruction, better policies, better graduates, even better board exams ratings, and a better stature altogether for UI.
After all, PHINMA's corporate tag line (according to its website) is "Life Can Be Better."
Sources say negotiations regarding UI's buyout may have begun as early as 2005. The agreed amount of sale is unknown...yet. Rumors have it though that UI's old owners raked in nearly a billion.
In 2003, PHINMA set to build a network of three to five universities and colleges all over the country with a combined student population of 50,000 to 75,000.
Among its investment options were Araullo University in Cabanatuan City, the University of Pangasinan, Computronics College in Dagupan City, the University of Iloilo, and West Negros College in Bacolod City.
In April 2004, PHINMA acquired Araullo University, and Cagayan De Oro College in June 2005.
UI will be officially taken over by its new owners between March and June 2009.
Meanwhile, as of this writing, all UI employees--from members of the board of trustees down to the janitors--are preparing their service records, personal files and things, updated curriculum vitae for most, and retirement applications for some.
Photo Source: Philippine Business Magazine Website
3 comments:
According to our dean, Atty. Antonio Lagon of the College of Law, the same Del Rosario who bought part of rockwell(also lopez owned. Del Rosario now owns 60% of the shares of UI, while Lopez owns a 40% shares of stocks of UI. Our dean (who also once th Exec. Vice-President of UI)told us that he believes that the new management will bring back UI to where it was before - one of the best universities in the Philippines. (And ideed the new management is now making great moves for UI to regain its former status)
when we heard that the University was sold, we were half happy and half sad. happy because, we know that the new management will make a lot of improvements in our school but we are also sad because a lot of employees will not be hired anymore. .to the new management, please hire only those who are qualified and please do consider some officers of the union (Faculty union) who are qualified. Wag nyo nman silang pagkaitan ng pagkakataon na maipakita ang husay nla sa pagtuturo. hindi nman nila kasalanan na maging oficers nang union na yan, thay are just being voted to be in that position. please do consider them.
ako rin po ang sumulat ng anonymous na comment lately..im an incoming 4th year student, as of now, we are experiencing a lot of changes..sa mga offices naninibago kmi dahil yong ibang clerks namin wla nah,medyo nalilito din po kmi sa sitema ngayon ksi maraming offices na kinombine..pero nakikita ko po na talagang ginagawa ng bagong management ang lahat para pgandahin ang university..umaasa po kmi ngayon ng intensive na pagtuturo sa lahat ng subjects namin at mga makbagong facilities na magagamit namin sa pag aaral.
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