2020-10-08
MANILA - STI Holdings, owner of one of the largest networks of private
schools in the Philippines, is moving its fiscal year (FY) beginning school
year (SY) 2020-21.
Based on STI Holdingsâ disclosure to the Philippine Stock Exchange for
the three-month period ending June 30, 2020, the companyâs new FY now begins on
July 1 of each year and ends on June 30 the following year.
The operations of STI Holdings and its subsidiaries is linked to the
academic cycle or the school year in the country.
In recent years, the subsidiaries have started moving the school
calendar to eventually align their respective academic cycles with that of
public and other private higher learning institutions. Traditionally, the
academic year begins in June and ends in March the following year. Previous FYs
began on April 1 and ended on March 31 the following year.
As part of its transition to the new fiscal year, STI Holdings has submitted
to the Bureau of Internal Revenue its short-period income tax returns and
audited financial statements from April 1 to June 30, 2020. The company also
submitted a report on its performance to the Securities and Exchange Commission
for same period.
Following the change in fiscal and academic years and the imposition of
the enhanced community quarantine in various parts of the country, classes in
the companyâs subsidiary schools have already gone under way.
iACADEMY commenced classes for SY 2020-21 on August 24 for
senior high school (SHS) and on August 28 for college students, while STI
Education Services Group (STI ESG) and STI WNU began classes in SHS and
tertiary levels on September 7.
All subsidiary schools would be conducting mostly online classes for the
safety and welfare of students, faculty, and other personnel amid the COVID-19
pandemic, while still meeting the studentsâ academic objectives through a
responsive learning experience.
Onsite classes would also be allowed, as long as they are compliant with
the guidelines of the Inter-Agency Task Force on Emerging Infectious Diseases,
the Commission on Higher Education (for college), and the Department of
Education (for SHS).
With the pandemic setting in towards the end of
SY 2019-20, classes throughout the companyâs network of schools were suspended
for the studentsâ safety. Students were given online and offline options, as
well as a mix of both, to complete their requirements. The school year was
completed by the end of July 2020.
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. It also offers senior
high school. STI ESG was given
government permits to offer Bachelor of Science in Retail Technology and
Consumer Science Program and government recognition to offer Associate in
Retail Technology Program starting SY 2020-2021.
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 WNUâs 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. It is offering
two new programs beginning SY 2020-2021, namely: Bachelor of Science in Computer Science major
in Data Science and Bachelor of Science in Computer Science major in Cloud
Computing. iACADEMY has also been given the government permit to offer Bachelor
of Science in Accountancy this school year.
