2013-02-11
Tanco-led STI Holdings is positioning itself for another banner year in 2013, banking on fresh capital that would roll out its ambitious expansion program.
STI Chairman Eusebio H. Tanco said the core of its investment strategy lies in the acquisition of new properties where it could expand existing schools by building new and bigger campuses.
Just recently, STI announced the construction of a new STI Academic Center in a sprawling four-hectare property in Ortigas-Cainta, housing a new campus for 5,000 students and a new head office for the STI Education Services Group (STI ESG).
The 39,880-square-meter property, located at the corner of ROTC Road and Ortigas Avenue Extension in Cainta, is valued at P291.1 million. It is the latest expansion being undertaken by STI ESG.
STI also acquired a 15,000 square meter property located at the corner of Samson and Caimito Roads which will be the site of the future STI Academic Center Caloocan.
STI College Cebu will also be put up in Ayala Center in Cebu City and will stand on a 2,000 square meter lot. The company also plans to put up new academic centers in Las Pinas, Cubao, Davao, Cagayan de Oro, Calamba, and Lucena in the next three years.
With expansion programs underway, the company expects to add 41,000 of student space and grow its student population to 100,000 students by 2015 from its current 68,000.
STI also reported impressive growth this year, as its consolidated net income rose to P283 million for the six months ending September 30, 2012, from P193 million.
The company said its consolidated net income climbed by nearly seven percent this year from 2011 due to the increase in the number of students of STI ESG and its subsidiaries from 66,740 to 68,363 this year.
Last December 5, STI Holdings also declared about P99 million in cash dividends which will be payable to all qualified stockholders by the yearend.
