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STI Holdings moves FY, classes for SY2020-21 under way

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 Holdings’ disclosure to the Philippine Stock Exchange for the three-month period ending June 30, 2020, the company’s 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 company’s 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 students’ 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 company’s network of schools were suspended for the students’ 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 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. 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.

 

 

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