MANILA, Philippines – Far Eastern University (FEU) of the Montinola family is expanding into secondary education.
In a disclosure, the listed educational institution said its board of trustees authorized the formation and incorporation of subsidiary FEU High School Inc.
FEU High School “will offer and conduct enhanced basic education programs and authorizes the said subsidiary to use the term FEU in its corporate and brand names,” the company said.
The new subsidiary will have an authorized capital stock of P40 million, divided into 400,000 shares with a par value of P100 apiece.
Its incorporators were Michael M. Alba, Juan Miguel R. Montinola, Paulino Y. Tan, Aurelio R. Montinola III and Glenn Z. Nagal.
“The board approved the subscription of the corporation of 99,995 shares in FEU High School with the par value of P100 per share, and of which P2.49 million will be paid,” FEU said.
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The government is already implementing the K to 12 program, which is composed of kindergarten and 12 years of elementary and secondary education.
The additional two years in high school will serve as specialization period for high school students whether in vocational skills, music, arts or sports.
FEU, founded in 1928, is a private non-sectarian institution composed of different institutes that offer specific courses.
These institutes are the Institute of Arts and Sciences; the Institute of Accounts, Business and Finance; the Institute of Tourism and Hotel Management; Institute of Education; the Institute of Architecture and Fine Arts; the Institute of Law; and the Institute of Nursing. Several programs of FEU such as Liberal Arts, Commerce, and Education, are accredited by the Philippine Association of Colleges and Universities Commission on Accreditation.
In the nine-month period that ended in December, FEU’s profits inched up 3.5 percent to P674.16 million from P651.32 million in the same period a year ago despite lower enrolment.
Enrollment for the first and second semesters of school year 2013-2014 dropped 2.13 percent and 1.94 percent, respectively, compared with the previous year.
“The slight decrease in enrollment is due to this year’s re-configuration of facilities resulting in a slightly lower maximum capacity and the intended improvement in faculty-student ratio,” FEU said.
