Philippine Educational Stocks: CEU, FEU. STI, etc

[drbubb]

Philippines, School Stocks: CEU, FEU. STI, IPO etc

EDUCATION- fr. May'2019: 2021: Jul.22: 2yr: 1yr:

02/06:  sti-0.335, ipo-6.08, feu-549., ceu-7.94

May'2019:  xx

Stock Last : BkVal: P/BV : PER: Yield:  L-Range-H
CEU : 7.94 : 12.17 : 65.2%: 9.39: 7.56%: (6.01-8.00)
FEU : 549. : 347.3: 158.%: 8.52: 4.37%: (529.-597.)
IPO  : 6.08 : 10.41 : 58.4%: 7.87: 2.63%: (5.08-9.03)
STI  : .335 : P0.82: 40.9%: 6.77: 4.48%: (.310-.375)
=== reported 1/23

Centro Escolar University (PSE: CEU) : All: 10yr: 5yr: 2yr: 1yr: 6mo: 10d/ Last: P6.32

Far Eastern University, Incorporated (PSE: FEU) : All: 10yr: 5yr: 2yr: 1yr: 6mo: 10d/ Last: xx

xx

iPeople, Incorporated (PSE: IPO) : All: 10yr: 5yr: 2yr: 1yr: 6mo: 10d/ Last: xx

xx

STI Education Systems Holdings, Inc. (PSE: STI) : All: 10yr: 5yr: 2yr: 1yr: 6mo: 10d/ Last: xx

xx

Education and School Stocks in the Philippine Stock Exchange

Centro Escolar University (PSE: CEU) is a higher learning institution in the Philippines established in 1907 (incorporated on March 31, 1932) that offers comprehensive training through flagship courses such as Dentistry, Medical Technology, Nursing, Education, Nutrition, Pharmacy, and other sciences across its campuses in Mendiola (Manila), Malolos (Bulacan) and Makati.  Subsidiaries include Centro Escolar University Hospital, Inc. (CEUHI) and Centro Escolar Integrated School (Source: SEC Form 17-A -2016).

Far Eastern University, Incorporated (PSE: FEU) is a private non-sectarian educational institution founded in 1928 that offers a wide array of higher education programs including Arts and Sciences, Business and Finance, Architecture and Fine Arts and Education. Corporate affiliates and subsidiaries include FEU Institute of Technology, FEU Diliman, FEU Cavite, and FEU High School, Inc., and Roosevelt College, Inc. (Source: SEC Form 17-A-2016).

iPeople, Incorporated (PSE: IPO) serves a holding company within the Yuchengco Group of Companies with a portfolio involved in education and technology sector. Its operating subsidiaries include Malayan Colleges, Inc. (MCI), Malayan Colleges (Laguna), Malayan High School of Science, and Pan Pacific Computer Center, Inc. (Source: SEC Form 17-A-2016).

STI Education Systems Holdings, Inc. (PSE: STI) is a holding company within the Tanco Group that derives investment in its education business through STI Education Services Group, Inc. (STI ESG) with a total of 76 schools nationwide, and STI West Negros University. Other subsidiaries include Information and Communications Technology Academy, Inc., Attenborough Holdings Corporation, and Neschester Corporation (Source: SEC Form 17-A-2016).

> https://www.signedmarco.com/education-school-stocks-philippine-stock-exchange/

[drbubb]

Yap-led group takes over Centro Escolar (2002)

- Christina Mendez, Conrado Diaz Jr. () - July 12, 2002 - 12:00am

 

A new group of investors, led by newspaper publisher Emilio Yap, has taken control of publicly-listed Centro Escolar University (CEU).

Yap, who also owns listed firms Manila Bulletin and Euro-Med Laboratories, as well as the Manila Hotel, was elected chairman of the CEU board, replacing long-time chairperson Lourdes Echauz, who was subsequently elevated to chairman emeritus.

In the special meeting of the board of directors, three CEU directors (Victoria Tamayo, Jose Ledesma and Antonio Picazo) also resigned from their respective posts to pave the entry of Yap and two other noted academicians: former UP chancellor Emil Javier and former Education Secretary Bro. Andrew Gonzalez of the De La Salle University.

Last July 3, the Philippine Stock Exchange (PSE) grossed around P560 million worth of CEU shares to effect the buy-in of the new investor group.

CEU, one of two listed academic institutions (the other is Far Eastern University), has a market capital of P2.123 billion, with total outstanding shares of over 372 million priced at P5.70 each.

The Mendiola-based school was put up in 1932 and has expanded its campus in Malolos, Bulacan. Strong in field of medical sciences, the university relies mainly on cash generated by operations, through tuition fees and other income, using these to pay dividends and provide for capital expenditures.

In early 2000, another academic institution, the Mapua Institute of Technology, was taken over by the Yuchengco group through listed firm iPeople Inc. (formerly Petrofields).

> https://www.philstar.com/business/2002/07/12/168009/yap-led-group-takes-over-centro-escolar

[drbubb]

CEU Buildings, mostly owned

CEU has 372.4 Million share OS

Today, the university has three campuses, the main campus is the Mendiola Campus in Manila, the Malolos Campus established in 1978 is in the northern suburb of Malolos City in Bulacan province, and the newly established Makati Campus in 2005, is in the Makati Central Business District. Originally, its Parañaque Campus was part of the university's system until it was phased out in the early 1990s.

Malolos campus

 

CEU Malolos Campus.

Build on 1978, the campus is located in a 7-hectare property along MacArthur Highway in Malolos, Bulacan. The campus consists of air-conditioned classrooms, laboratories, the university library, cafeterias, an open-air basketball court, a mini-hotel called Ada's (named after the founder, Librada Avelino, who was nicknamed "Ada") for its Hotel and Restaurant Management students, and a 5,000-seater gymnasium called The Centrodome. The administration building is called the Pilar Hidalgo Lim Hall. The campus will have a dormitory and swimming pool soon.

Makati campuses

 

CEU Makati-Gil Puyat Campus

Sen. Gil J. Puyat Avenue Unit

CEU's first Makati campus is housed in the Philtrust Bank Building in 259 Sen. Gil Puyat Avenue, in the Makati Central Business District. The science and the law courses are here. The campus consists of air-conditioned classrooms, laboratories, a library and lecture halls equipped with audio-visual facilities, and a car park.

In June 2009, Centro Escolar University opened its law school under the School of Law and Jurisprudence, offering the Juris Doctor program. The CEU School of Law and Jurisprudence is headed by Honorable Senior Associate Justice Josue N. Bellosillo as its dean and Atty. Rita Linda Jimeno as its associate dean (the position was formerly held by former Court Administrator Zenaida Elipano). They invited some of the most famous law professors to be members of their faculty: Court Administrator Jose Midas Marquez, Associate Court of Appeals Justice Manuel Barrios, Atty. Salvador Panello, etc.^{[citation needed]}

Legaspi Village Unit (Makati)

 

Makati-Legaspi Village Campus.103 Esteban St.

The Centro Escolar University Legaspi Village Unit, the extension of the Sen. Gil Puyat Avenue unit, is located along Esteban-Bolanos Streets, in Legaspi Village, Makati City. The unit opened on June 2007...

The non-science and the Dentistry (DMD) programs are here. This building has centralized air-conditioned classrooms, computer laboratories, a helipad, and a library with audio-visual facilities. The new addition is the Dental facility inside the building.

Las Piñas campus

The Las Piñas campus is the now acquired Las Piñas College and it is named as Centro Escolar Las Piñas. The campus underwent significant renovations in the school year 2015–present. Total consideration is P196,000,000. more or less. (196M / 372.4 M shs = xx ) That the property is clean and free from any lien and encumbrance.  Acquisition approved by CEU board:Sep 2, 2015 / Full payment until March 31, 2016. Source of funds: Internally generated cash fund.

> Wiki: https://en.wikipedia.org/wiki/Centro_Escolar_University

Item 2. Properties

CEU’s main campus site, which houses 13 buildings, is located on a two-hectare prime real estate in Mendiola, Manila. Its campus in Malolos, Bulacan is located on a seven-hectare property along McArthur Highway. The properties in Manila campus are covered by TCT Nos. 11919, 69761, 76251, 76252, 76253, 92437, 99602 and 171233. The Malolos property is covered by TCT No. T87162. The University has no property that is subject to any mortgage, lien or encumbrance. In connection with the establishment of CEU-Makati Campus, the University has been leasing the Philtrust Bank Building since 2004 for ₱2M fixed rental per month for 25 years plus a percentage of the annual income for its CEU-Makati, Gil Puyat Campus. Pursuant to the authority granted by the Board of Directors and as part of the University’s expansion program for CEU-Makati Campus, the University purchased on July 5, 2006 Seaboard Centre Condominium on Esteban Street, Legaspi Village, Makati City on installment basis through internally generated funds. The CEU-Makati, Legaspi Village Campus is covered by CCT Nos. 99424, 99167, 99410, 99425, 99426, 99427, 99411, 99428, 99429, 99430, 99431, 99432, 99168, 99408, 99169, 99170, 99433, 99434, 99435, 99436, 99437, and 99438.

> http://corporate.ceu.edu.ph/static/media/CEU17A-07152019.pdf

 

[drbubb]

CEU Enrollment DROP School Year 2016-2017 Student Enrolment

The University had an enrolment of 17,532 for the first semester and 16,632 for the second semester of school year 2016-2017. The total enrolment for the three campuses for both the first and second semester decreased by 20.51% and 20.77%, respectively compared to that of SY 2015-2016. The total first year (freshmen, transferees) enrolment decreased by 91.18% as compared to the enrolment of the previous school year due to the K-12 transition. Foreign Student EnrolmentForeign student enrolment for SY 2016-2017 stood at 500 and 461 for the first and second semesters, respectively. A decrease of 23.08% for the first and 19.97% for the second semester was noted compared to the enrolment of the previous school year. The programs where most of the foreign students enrolled are in Dentistry and Graduate School.

School Year 2018-2019 Student Enrolment The University had an enrolment of 12,270 for the first semester and 11,344 for the second semester of school year 2018-2019. The total enrolment for the three campuses for both the first and second semesters decreased by 5.10% and 5.83%, respectively compared to that of SY 2017-2018. The school year 2018-2019 was the start of the regular offering of first year after the K-12 transition. Foreign Student Enrolment Foreign student enrolment for SY 2018-2019 was 239 and 214 for the first and second semesters, respectively. A decrease of 35.41% and 32.06% for the first and second semesters, respectively, was noted compared to that of the previous school year. Dentistry and Graduate School are the programs where most of the foreign students enrolled.

Tuition Fee Increase There was a 5% increase in tuition fees and other fees for SY 2016-2017, 2017-2018 and 4.17% in SY 2018-2019. Effect of Government Regulation with Respect.    Commission on Higher Education (CHED) promulgates guidelines to be followed by Higher Educational Institutions (HEIs) intending to increase their tuition and other fees. The guidelines provide, among others: “A Certificate of Intended Compliance (COIC) stating that (70%) of the proceeds to be derived from the tuition fee increase shall be used for the payment of the salaries, wages, allowances and other benefits of its teaching and non-teaching personnel and other staff x x x. “The 20% shall go to the improvement of the following: 1. Modernization of buildings 2. Equipment 3. Libraries 4. Laboratories 5. Gymnasium and similar facilities and 6. Payment of other cost of operations. “Only 10% is left for return on investment.” The University has consistently distributed 70% of the increase in tuition fees to its employees on a semestral basis. The 70% increase in tuition fees is distri...

[drbubb]

I looked at STI. Because it was cheap versus book. and the chart looked like it was bottoming...

STI / STI Education Systems ... YTD: 5yr: 2yr: 1yr: 10d / Last: P 0.310  / Book Value /sh. P 0.83

STI Education clarification of news reports - 1

Source: Manila Standard (Online Edition) Subject of News Report:

"Low enrollment forces STI to close 12 schools" Date of Publication: Sep 28, 2020

“STI Education Services Group Inc., which owns one of the largest networks of private schools in the Philippines, closed down seven schools and suspended the operations of five others on low enrollment turnout caused by the pandemic. STI-ESG said in a disclosure to the Philippine Dealing & Exchange Corp. it suspended the operations of four company-owned schools for school year 2020-2021, including STI Cebu, STI Iloilo, STI Quezon Ave. and STI Tuguegarao. It also ceased the operations of STI Pagadian, another company- owned school effective SY 2020-2021. ‘STI ESG determined that continuing the operations of these schools was no longer viable due to low enrollment turnout and the high cost of facility rental,’

STI Education Systems Holdings traces its roots to the Philippine branch office of Theo H.Davies & Co., a Hawaiian corporation, which was established in 1928. The company wasre-incorporated as a domestic corporation in 1946. In 1973, the Hawaiian parent was acquired by James Matheson & Co. of Hong Kong,.....JDI once again experienced a change in control and management in 2010 after CapitalManagers and Advisors, Inc. , led by businessman Eusebio H. Tanco, acquired the stakeof PRCI in the company. In 2011, the company became the holding company within theTanco Group that drives investment in its education interests. Its corporate name waschanged to its present form in 2012.

[drbubb]

UPDATE - adding IPO, Yuchengko/Ayala's educational affiliate, that owns MPUA, etc

IPO versus- FEU, CEU ... from 2016: 2020: 1yr: 10d/ IPO: 6.08 -0.62,-9.0%, FEU: xx, CEU: yy

from 2016: 2020:

===

Stock Last : BkVal: P/BV : PER: Yield:  L-Range-H
CEU : 7.94 : 12.17 : 65.2%: 9.39: 7.56%: (6.01-8.00)
FEU : 549. : 347.3: 158.%: 8.52: 4.37%: (529.-597.)
IPO  : 6.08 : 10.41 : 58.4%: 7.87: 2.63%: (5.08-9.03)
STI  : .335 : P0.82: 40.9%: 6.77: 4.48%: (.310-.375)
=== reported 1/23

STI Education Systems
Book : YrEnd
Value: Share:
/ sh.  : Price : CashPS EarnPS : Date
0.84E 0.330 : 0.100E  0.050E: 2.06.23
0.83E 0.340 : 0.100E. 0.049E: Ye’22
 0.82: 0.340 : 0.1485:  0.0104: Ye’21
 0.83: 0.470 : 0.0895:-0.0137: Ye’20
 0.87: 0.600 : 0.0785: 0.0284: Ye’19
 0.88: 0.790 : 0.0903: 0.0501: Ye’18
 0.83: 1.630 : 0.0935: 0.0555: Yr’17
====
Estimates based on: 0.330
P/E Ratio:6.67: 0.0495, Yield: 4.55%: 0.015

STI / STI Education Systems ... 2022: mid-2019: 0.335 = P/E Ratio:6.67: 0.0495, Yield: 4.55%: 0.015

mid-2019:

[drbubb]

STI gets a BID!  Traded at 0.39, new year's High
 

STI / STI Education Systems ... from mid-2020: 2022: 10d:

STI Education press release - 1

"STI Holdings posts P579 million in 9-month period net income as face- to-face classes drive enrollments"

The steady transition back to face-to-face classes continues to bode well for the owner of one of the country's largest networks of schools, STI Holdings, as it reported another increase in profits brought about by the rise in enrollments. In a quarterly disclosure with the Philippine Stock Exchange filed Monday, STI Holdings said it posted a net income of P579.3 million for the nine-month period ended March 31, 2023, which is 95% higher than the net income of P297.2 million recorded for the same period last year.

STI Holdings' Fiscal Year (FY) starts on July of every year and ends on June 30 of the following year. STI Holdings also generated gross revenues of P2.4 billion, which was 27% higher than the P1.9 billion revenues recorded for the same period last year due to the increase in the number of enrollees and improvement in the enrollment mix of the Group for School Year (SY) 2022-2023. Tuition and other school fees, which were recorded at P2.1 billion for the said nine-month period, increased by P422.2 million or 25% from the same period last year. The number of new students enrolled in Commission on Higher Education (CHED) programs improved by 17% or 3,707 from 22,142 to 25,849 for SY 2021-2022 and SY 2022-2023, respectively. STI Holdings said its schools now have a total of 94,312 enrollees for SY 2022-2023, which is 14% or 11,683 higher than the 82,629 students it took in during SY 2021-2022. "STI Education Services Group's wholly-owned and franchised schools registered an enrollment of 81,697 students, 8,947 or 12% more than the enrollment in SY 2021-2022. Percentage-wise, STI WNU registered the highest increase at 35% for this SY compared to last SY," it said.

Schools also reported revenues from other sources as a result of increased enrollments and more frequent face-to-face classes. On the other hand, STI Holdings said the resumption of face-to-face classes has likewise led to increased support for more student activities and programs. Its schools have also continued to invest in technology that will help with the education of students, notably increased subscription costs for Microsoft, eLMS, and Amadeus software for SY 2022-2023.

[drbubb]

STI versus... STI: 0.405 +0.01,  MEG: 2.00,  SHNG: 3.60, 55.6%, Disc. -1.60

TWO of my current winners : SHNG and STI are outperforming PSEI. 

May shift a few more profits into MEG.  haven't seen the MEG div news yet, but EPS were up +31%, and that is decent

[webmaster]

EDUCATIONAL PLAY? In IPO. owner of MAPAU University

Edu-stocks: STI-0.78, 1.13% IPO-7.10, 10.3 / Psei-68.94: 10.3%. HI-3.49, 5.06%

IPO / iPeople-7.10, V-0.79

RATIOS --

Sym. 03.22: PER : Yield :  Bk.Vl. : %bv  :  1yr. Range 
Psei: 6,894: === :  ===  :  ==== : ====: 5920-7021 
IPO :  P7.19 : 13.3: 20.6%?  11.91: 60.4%: 5.80 - 9.00 > if 0.19, then 2.64% yield
HI   : P3.49:  N/A : 1.43%: 23.65: 14.8%: 3.21 - 5.39 
STI  : P0.77: 6.26: 3.90%: P0.92: 83.7%: 0.34- 0.86 
FEU :  560. : 7.26: 5.71% : 439.0: 128.%: P532- 650 
CEU: P8.99: 7.51: 6.67% : 14.32: 62.8%: 6.53 - 9.05 
V     : P0.79: 4.27:  N / A : P2.47: 32.0%: 0.70 - 0.82 
RCB : 22.80: 4.12: 4.74%:  57.11 : 40.0% 20.60-25.5

House of Investments, Inc.

iPeople, inc. (IPO) is the holding company under House of Investments, Inc. (HI) and the Yuchengco Group of Companies that drives investments in the education sector.  A merger of Yuchengco Group and Ayala's educational assets occurred. Themerger was completed on May 2, 2019, with the Yuchengco Group of Companies owning 51.3% of iPeople and Ayala Corporation with 33.5% share of the said company

 

 iPeople press release - 1

"Yuchengco-Ayala Education Partnership Introduces Breakthrough Experiential Global Education with Top US University",  02/21/2023

Mapua Schools Collaborate with America's Most Innovative University.   iPeople, the publicly listed Yuchengco-Ayala education partnership, introduced today a first of its kind offering that enables Filipino students to immerse themselves in global educational experiences with top international universities and a top Philippine university, in a highly cost-effective manner. Last year, iPeople school Mapúa University and its daughter schools Mapúa Malayan Colleges Laguna and Mapúa Malayan Colleges Mindanao, entered into a collaboration with Arizona State University (ASU), which has been ranked America's most innovative university, ahead of Stanford and MIT, over the past 8 years.

The collaboration is focused on Business and Health Sciences programs. In the latest US News & World Report online program rankings, ASU's W. P. Carey School of Business ranked Top 10 in the US across 8 programs and disciplines, including the #1 spot for online bachelor's in business programs, and ASU's online bachelor's program in psychology was ranked #4. Through this collaboration, the Mapúa schools also became members of the ASU-Cintana Alliance, a global network of 15 of the most innovative higher education institutions in the Americas, Europe and Asia. Chris Hill, Chief Strategy Officer, and Head of Asia Pacific at Cintana, said, "We are delighted to be collaborating with the Mapúa schools, whom we selected as our Philippine champions, because of their long- standing reputation for innovation and academic excellence. The recent ranking of Mapúa as one of the top 4 Philippine universities, together with UP, Ateneo and LaSalle, in the Times Higher Education World University Rankings, is clear evidence of the quality of a Mapúan education."

C06758: iPeople SEC approval of the merger of NTC and APEC Schools, 09/05/2023

In compliance with the disclosure requirements of the Securities and Exchange Commission, iPeople, inc. ("the Company") hereby informs the SEC and PSE that on September 5, 2023, the Company received a copy of the Certificate of Filing of the Articles and Plan of Merger of iPeople subsidiaries' National Teachers College (NTC) and Affordable Private Education Center, Inc. (APEC Schools), issued by the SEC on August 30, 2023. The plan of merger shall take effect five (5) business days after the SEC approval and issuance of the Certificate of Filing of the Articles and Plan of Merger, with NTC as the surviving corporation.

MERGER with Ayala Education

On January 8, 2018, YGC and Ayala Corporation, through a joint press statement, announced the merger of Ayala Education and iPeople (IPO), Mapúa's parent company, with IPO being the surviving entity. The merger was completed on May 2, 2019, with the Yuchengco Group of Companies owning 51.3% of iPeople and Ayala Corporation with 33.5% share of the said company.^[1]

On August 1, 2021, the old Makati campus at Gil Puyat Avenue was closed. It relocated its site at a former Bormaheco property along Pablo Ocampo Street, which was acquired and converted by the Yuchengco Group in 2018.^[16]

[webmaster]

IPO / Mapua is part of Yuchenko Group, RCBC etc. (thru HI. House of Investment)

IPO-etc: (P6.90)  / RCB (22.95) = 30.1%, HI: P3.50, 15.3%, PER: xx, EPS: xx, Div: xx, Yield: xx%

From 2000:

HI / House of Investment.. >2006:  Last: 3.32  (R: 3.21 to 5.39 )

RCB / Rizal Comm'l Bank: P22.95, BV: P56.86, PER:4.15x e-Y: 24.1%, d-Y: 4.42%

===

IPO is owned by:, since May 2019: : 
+ HI / Yuchengco Group : 48.15%. 490.9M sh. : 
+ AC / Ayala Group         : 33.50%, 341.6M sh. : 
+ Public (1,996 owners) : 18.35%.  187.1M sh. : 
=======  Total: 1,998   : 100.0%. 1,019.6 M shs.

Equity. 9/2023:   P12.62 Bn / 1,020M = P 12.38/ sh.

Sym:  Last:  BkVal %BV:  PER :    EPS :   Div.,   D-Y% :  MktVal. :  BkV.:
RCB: 22.95, 56.86, 40%:  4.15x  1.795:  1.014, 4.42%:  55.7 Bn: 139.B
IPO : P6.90, 12.38, 56%:  12.8x  0.540: 0.190,  2.75%:  7.04 Bn: 
HI   : P3.50, 34.58, 10%:  0.00x 0.000: 0.050,  1.43%:  5.15 Bn: 51.5B

IPO, together with HI, wholly owns and operates its main subsidiary, Malayan Education System, Inc., which operates under the name of Mapúa University. Mapúa University has its main campus in Intramuros, Manila and an extension campus in Buendia, Makati. Mapúa University also has three wholly-owned operating schools, the Malayan Colleges Laguna (A Mapúa School), Inc., Malayan Colleges Mindanao, Inc. and the Malayan High School of Science, Inc.
Malayan Colleges Laguna is located in Cabuyao, Laguna and was established to extend the Mapúa brand to the south by offering programs in engineering, computer science, information technology, business, accountancy, and hotel and restaurant management. Malayan Colleges Mindanao is located in Davao and started school operations on July 2, 2018. Malayan High School of Sciences is a Science- and Math-oriented high school located in Pandacan, Manila and is modeled after similar but publicly funded-science high schools.

On May 2, 2019, the Company merged with AC Education, Inc., the wholly-owned education arm of Ayala Corporation, with IPO as the surviving entity. As a result, the Company acquired three additional operating subsidiaries: National Teachers College, University of Nueva Caceres, and Affordable Private Education Center, Inc., which is doing business under the name of APEC Schools.

• Mapúa University aims to double enrollment  :  c.10k > c.20k+ in 10 years (by 2033?)
• Mapúa University names new president : ( Dodjie Maestrecampo )