STI to open 2 more schools this year

MANILA, Philippines - The STI group, which operates a nationwide chain of educational institutions, is rolling out two more schools this year, expanding its presence across the country.

STI president Monico Jacob said a new facility will be built in Novaliches and Caloocan which would require investments of P150 million and P300 million, respectively. Under construction is a four-story campus in Naga City which could take in about 5,000 students.

Jacob said the group is also expanding its campus in Fairview, Quezon City, its top school with about 3,000 enrollees.  About P100 million has been earmarked for this.

The group’s campus in Dagupan is also undergoing renovation, Jacob said.

He said the expansion is in line with its goal to have a student base of 100,000 in the next four years. The company had around 64,000 enrollees last year.

Jacob noted that enrollment was up four percent in the first semester this year compared with the previous level.

The group has set a P1-billion capital expenditure program over a two-year period beginning last year with the building of a P300-million new facility in Fort Bonifacio Global City.

Jacob said the group continues to be on the lookout for opportunities to further boost its cashflow. “We’re looking at several schools. We’re in talks with one group now.  Hopefully, we get to close a deal,” he said.

At present, the company operates a network of 95 tertiary schools which offer information technology, engineering, healthcare, business administration, and hotel management courses.

STI chairman Eusebio Tanco earlier said he might take STI public to fund the expansion of its facilities. The company was originally looking to raise P1 billion to P2 billion from the maiden offering of its shares.

STI was established in 1983 and has since grown through acquisitions. In 2002, STI acquired a majority share in De los Santos College to create the DLS-STI College of Health Professions.

Also, in 2006, the firm purchased a stake in the De Los Santos Medical Center, now known as De Los Santos-STI Medical Center.

Aside from STI and healthcare, Tanco also has interests in life insurance, textiles and chemicals, cargo handling, power distribution, property, stock brokering and investment banking.