FAR EASTERN UNIVERSITY, Inc. (FEU) said in a report on Wednesday that its student population for the school year 2022-2023 exceeded pre-pandemic levels on eased mobility restrictions.
“The easing of quarantine restrictions and normalized economic activities, including the return to in-campus learning under a face-to-face class set-up, together with in-person onsite reporting by administrative staff, is expected to lessen the uncertainties in the group’s business environment,” the company said in its annual report.
It added that it remains positive with the relaxation of business activity and people mobility restrictions amid global logistic challenges.
“Nonetheless, the group believes that it is an opportune time to engage in expansion opportunities,” it said.
Recently, the company announced its acquisition of Good Samaritan Colleges in Nueva Ecija and JPMC College of Health Sciences (JPMC-CHS) in Brunei.
Last month, the company disclosed that it signed an investment agreement with Good Samaritan Colleges for the acquisition of 77,273 shares or 34% of the outstanding capital stock of the institution.
Back in July, FEU entered its first private nursing school venture in Brunei after it signed an agreement with Jerudong Park Medical Centre and Darussalam Assets on the establishment of JPMC-CHS.
“Overall, the Group’s management is optimistic that it can maintain excellent results of operations in the next fiscal year but remains conservative with its outlook on the financial market and the overall economy,” it said.
FEU is a majority shareholder of East Asia Computer Center, Inc., FEU Alabang, Inc., Far Eastern College Silang, Inc., FEU High School, Inc., and Roosevelt College, Inc.
It is a major shareholder of Fern Realty Corp., which helps FEU schools in their real estate requirements.
FEU also owns 51% of Edustria, Inc., a joint venture with the Technological Institute of the Philippines. The joint venture operates a high school under the same name in Lipa City and Malvar, Batangas. — Justine Irish D. Tabile