2020-10-07
MANILA - STI Holdings, owner of one of the largest networks of private schools in the Philippines, has released its first-ever sustainability report alongside its annual report for its fiscal year ending March 31, 2020.
In the sustainability report, the company’s subsidiary schools detailed their respective initiatives towards the attainment of the United Nations’ Sustainable Development Goals.
Among the initiatives are the strengthening of school policies that will safeguard the health and well-being of students and employees, and ensuring access to quality education through continuous program reviews as well as financial assistance programs and scholarships.
A key to achieving these goals is STI Holdings’ response to the challenges posed by the COVID-19 pandemic.
“The group has been quick to beef up its already outstanding learning management systems and forge partnerships with key telecommunications players to provide the students with Internet connectivity assistance,” STI Holdings Chairman Eusebio H. Tanco and President and CEO Monico V. Jacob jointly said in the sustainability report.
“The group also worked with government institutions to be able to extend financial assistance options such as zero-interest student loans and 20% scholarship grants,” they added.
Mr. Tanco and Mr. Jacob likewise assured students and parents that STI Holdings is doing its best to ensure the quality of education amid the “new normal.” “Our faculty, through continuous and rigorous trainings, are well-equipped to deliver lessons and conduct consultations online.”
By demonstrating its commitment to continuing education amid the new normal, STI Holdings looks forward to bouncing back from the economic effects of the pandemic.
STI Holdings reported that its total assets were valued at ₱15.2 billion for fiscal year 2019-20. Based on the company’s annual report submitted to the Philippine Stock Exchange, the assets’ value increased by ₱384.3 million from the ₱14.8 billion it posted at the end of its previous fiscal year.
The appreciation in asset values was largely due to the increase in cash and cash equivalents, receivables, and property and equipment.
Property and equipment, net of accumulated depreciation, went up by ₱262.2 million to ₱10.23 billion from ₱9.96 billion. The increase includes costs of the recently completed STI Academic Center in Legazpi City. The four-storey building, which stands on a 4,149-square meter property, can accommodate around 2,500 students.
Prior to the completion of the STI Academic Center Legazpi, four other academic centers were built in Lipa City, Batangas; San Jose Del Monte City, Bulacan; Sta. Mesa, Manila; and along EDSA in Pasay City.Â
Bolstered by a total enrollment of 83,967 students across 78 campuses, which includes STI WNU and iACADEMY, STI Holdings posted total revenues of ₱2.7 billion for the year. EBITDA remains strong at ₱1 billion and EBITDA margin improved from 36% last year to 38% this year.
STI ESG offers associate and baccalaureate degrees and technical-vocational programs in the fields of Information and Communications Technology, Business and Management, Hospitality Management, Tourism Management, Arts and Sciences, Engineering and Education. STI ESG also offers senior high school.Â
STI ESG remains committed to educating the Filipino youth by enhancing its programs and making relevant investments including the acquisition of a simulator and other maritime equipment, specifically for the courses of NAMEI, which it acquired in 2019.
Founded on February 14, 1948, STI WNU was granted its university status by the Commission on Higher Education on February 11, 2008. STI WNU’s campus sits on a 3.1-hectare property in the heart of Bacolod City.
iACADEMY is the premier school in the group that has senior high school and college programs centered on computing, business, and design. It offers specialized courses such as software engineering, game development, animation, multimedia arts and design, fashion design and technology, film and visual effects and real estate management.Â
