by Myrna Velasco – January 29, 2016
from Manila Bulletin
The Del Rosario-led Trans-Asia Oil and Energy Development Corporation is rebranding into PHINMA Energy Corporation, a name that will be stamped with the hallmark of its parent firm.
In a statement to the media, the company said the agenda on renaming its energy unit was approved by its board of directors during their January 25 meeting.
This will be firmed up on the shareholders meeting of the publicly listed company on April 12 this year.
“This has been the subject of discussion over the past years and we would like to share with you the rationale and spirit behind this change,” PHINMA president and chief executive officer Ramon R. Del Rosario Jr. noted.
Crediting current Trans-Asia president and CEO Francisco L. Viray on the development successes of their energy arm, the company indicated that it is still poised for growth in this business segment.
“Moving forward, renaming Trans-Asia Oil and Energy Development Corporation to PHINMA Energy Corporation is a key step in enhancing the integration of our strategic business units by combining the commercial success of Trans-Asia with the strong brand and management expertise of PHINMA,” the company has expounded.
In its 46 years of existence, Trans-Asia’s portfolio of power facilities registered organic expansion, in a good combination of fossil fuel-based and renewable energy sources.
Its current project completions include the 54-megawatt wind farm project in San Lorenzo, Guimaras; and the two blocks of 135-MW coal-fired generating facilities in Batangas.