By Zinnia B.
Dela Peña (The Philippine Star) | Updated December 2, 2012 - 12:00am
MANILA, Philippines - Far Eastern University Inc. is setting up a new company, FEU Alabang Inc., with an initial authorized capital of P100 million.
MANILA, Philippines - Far Eastern University Inc. is setting up a new company, FEU Alabang Inc., with an initial authorized capital of P100 million.
In a
disclosure to the Philippine Stock Exchange, FEU said its board of trustees has
approved the establishment of a new educational institution which will rise on
a 2.2-hectare lot within the Woods District of Filinvest Corporate City.
FEU acquired
the property from Filinvest Alabang Inc., a subsidiary of Filinvest Development
Corp.
Listed
incorporators of FEU Alabang include Michael Alba, Juan Miguel Montinola,
Paulino Tan, Angelina Jose and Herminia Maliwat.
FEU will subscribe to 249.995 shares in FEU Alabang
with a par value of P100 per share, of which P6.249 million was paid.
Incorporated
on Oct. 27, 1933, FEU is a private,
non-sectarian institution of learning comprising the following different
institutes that offer specific courses, namely, Institute of Arts and Sciences;
Institute of Accounts, Business and Finance; Institute of Education; Institute
of Architecture and Fine Arts; Institute of Nursing; Institute of Engineering;
Institute of Tourism and Hotel Management; Institute of Law; and Institute of
Graduate Studies.
Business (
Article MRec ),
FEU,
which became a listed corporation on
July 11, 1986, posted a net income of P382.78 million in the six months ending
September this year, up 23.8 percent from the same period in 2011. Revenues rose 10.29 percent to P984.86
million as educational income climbed 10 percent to P911.81 million.
For the
school year 2012-2013, the first semester enrollment increased 10.11
percent compared to the previous year’s
27,001. The increase was attributed to FEU’s improved facilities and new course
offerings as well as tuition increase of 4.8 percent.
Its
newly-opened branch in Makati brought in 1,771 students compared to last year’s
931. Branch enrollment is expected to
increase in the succeeding years.
Moving
forward, the FEU management is committed to the continuous improvement of
academic standards by improving curricula, strengthening faculty, improving
services to students and providing the best educational facilities. The
university is confident of being a university of choice for its target market.
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