STI expanding Academic Centers nationwide

(Updated 3:13 p.m.) STI Holdings Inc. is upgrading its facility in Cubao, Quezon City into an eight-story Academic Center as part of efforts to further expand its student base.

 

In a statement to the Philippine Stock Exchange, STI Holdings said STI Academic Center Cubao

has a floor area of around 8,000 square meters and will feature state-of-the-art facilities.

 

STI Cubao is slated to open in May 2014. 

 

“For 30 years, STI has become the partner of the Filipino community in molding socially responsible youth through real life education,” said Monico Jacob, president and chief executive officer.

 

“This groundbreaking is a symbol of a more strengthened partnership with all our stakeholders— message of our commitment to be here for the long-term.” In a separate statement to the PSE on Friday, STI Education Systems Holdings reported a 164 percent jump in net income for the fiscal first nine months ending in December largely on higher revenues from tuition and other school fees.

 

The company is set to convert other campuses in strategic locations across the country into Academic Centers.

 

The group is embarking on an aggressive expansion program aimed at increasing its student population to 100,000 by 2015 from the current 68,000, with new campuses in  Davao, Cagayan de Oro, Calamba and Lucena, Caloocan, Alabang, Naga and Bulacan.

 

Funding for the expansion will come from proceeds of a recent follow-on share offering worth P2.7 billion.

 

STI the holding company owns all wholly-owned and franchised STI schools, Philippine Women’s University (40 percent), Jose Abad Santos Memorial School and iAcademy. — VS, GMA News