FAR EASTERN University (FEU) is looking to enter a joint venture to create and manage a private nursing school in Brunei Darussalam.
In a disclosure to the exchange on Monday, the listed educational institution said it is joining Brunei’s Ministry of Health and private firm Jerudong Park Medical Centre Sendirian Berhad “to cooperate in a proposed joint venture for the establishment, management, and operation” of the private nursing school.
“The parties entered into a memorandum of agreement to that effect. No definitive agreements were signed yet pending further discussions on details on how to achieve the goals of the project,” FEU said.
“We will make the necessary disclosures regarding the Project as soon as further definite information becomes available,” it added.
The company currently operates FEU in Manila and is the majority shareholder of East Asia Computer Center, Inc., FEU Alabang, Far Eastern College Silang, Inc., FEU High School, Inc., and Roosevelt College, Inc.
It also has a 51% ownership in Edustria, Inc., a new senior high school in Batangas, which is 49% owned by the Technological Institute of the Philippines, Inc.
FEU shares were last traded on Jan. 20 for P551 apiece. — Keren Concepcion G. Valmonte
