FEU to put up P100-M Alabang campus

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.

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.