Securities and Exchange Commission Sec Form 17-A, As Amended

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Securities and Exchange Commission Sec Form 17-A, As Amended CR05818-2018 SECURITIES AND EXCHANGE COMMISSION SEC FORM 17-A, AS AMENDED ANNUAL REPORT PURSUANT TO SECTION 17 OF THE SECURITIES REGULATION CODE AND SECTION 141 OF THE CORPORATION CODE OF THE PHILIPPINES 1. For the fiscal year ended May 31, 2018 2. SEC Identification Number PW538 3. BIR Tax Identification No. 000-225-442 4. Exact name of issuer as specified in its charter FAR EASTERN UNIVERSITY, INC. 5. Province, country or other jurisdiction of incorporation or organization Philippines 6. Industry Classification Code(SEC Use Only) 7. Address of principal office Nicanor Reyes Street, Sampaloc, Manila Postal Code 1015 8. Issuer's telephone number, including area code (632) 849-4000 9. Former name or former address, and former fiscal year, if changed since last report - 10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding COMMON 16,477,023 11. Are any or all of registrant's securities listed on a Stock Exchange? Yes No If yes, state the name of such stock exchange and the classes of securities listed therein: Philippine Stock Exchange, Inc. 12. Check whether the issuer: (a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17.1 thereunder or Section 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of The Corporation Code of the Philippines during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports) Yes No (b) has been subject to such filing requirements for the past ninety (90) days Yes No 13. State the aggregate market value of the voting stock held by non-affiliates of the registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of a specified date within sixty (60) days prior to the date of filing. If a determination as to whether a particular person or entity is an affiliate cannot be made without involving unreasonable effort and expense, the aggregate market value of the common stock held by non-affiliates may be calculated on the basis of assumptions reasonable under the circumstances, provided the assumptions are set forth in this Form None APPLICABLE ONLY TO ISSUERS INVOLVED IN INSOLVENCY SUSPENSION OF PAYMENTS PROCEEDINGS DURING THE PRECEDING FIVE YEARS 14. Check whether the issuer has filed all documents and reports required to be filed by Section 17 of the Code subsequent to the distribution of securities under a plan confirmed by a court or the Commission. Yes No DOCUMENTS INCORPORATED BY REFERENCE 15. If any of the following documents are incorporated by reference, briefly describe them and identify the part of SEC Form 17-A into which the document is incorporated: (a) Any annual report to security holders N/A (b) Any information statement filed pursuant to SRC Rule 20 N/A (c) Any prospectus filed pursuant to SRC Rule 8.1 N/A The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party. Far Eastern University, Incorporated FEU PSE Disclosure Form 17-1 - Annual Report References: SRC Rule 17 and Section 17.2 and 17.8 of the Revised Disclosure Rules For the fiscal year May 31, 2018 ended Currency Philippine Peso Balance Sheet Year Ending Previous Year Ending May 31, 2018 May 31, 2017 Current Assets 4,990,263,830 5,032,298,714 Total Assets 13,187,394,408 11,959,843,136 Current Liabilities 2,742,460,623 1,444,880,685 Total Liabilities 4,145,997,280 3,137,217,789 Retained 5,357,541,295 5,128,123,327 Earnings/(Deficit) Stockholders' Equity 9,041,397,128 8,822,625,347 Stockholders' Equity - Parent 6,862,186,284 6,712,118,277 Book Value Per Share 550 537 Income Statement Year Ending Previous Year Ending May 31, 2018 May 31, 2017 Gross Revenue 2,666,207,852 2,862,821,122 Gross Expense 2,182,296,116 2,095,567,965 Non-Operating Income 251,698,279 249,390,430 Non-Operating Expense 95,469,160 88,908,479 Income/(Loss) Before Tax 640,140,855 927,735,108 Income Tax Expense 92,509,844 121,282,797 Net Income/(Loss) After Tax 547,631,011 806,452,311 Net Income/(Loss) Attributable to Parent 492,229,280 749,519,197 Equity Holder Earnings/(Loss) Per Share (Basic) 29.96 45.61 Earnings/(Loss) Per Share (Diluted) 29.96 45.61 Financial Ratios Fiscal Year Ended Previous Fiscal Year Formula May 31, 2018 May 31, 2017 Liquidity Analysis Ratios: ; ; Current Ratio or Current Assets / Current 1.82 3.48 Working Capital Ratio Liabilities (Current Assets - Inventory - ; ; Quick Ratio Prepayments) / Current 1.62 3.01 Liabilities ; ; Solvency Ratio Total Assets / Total Liabilities 3.18 3.81 Financial Leverage Ratios ; ; Debt Ratio Total Debt/Total Assets 0.31 0.26 Total Debt/Total ; ; Debt-to-Equity Ratio 0.46 0.36 Stockholders' Equity Earnings Before Interest and ; ; Interest Coverage Taxes (EBIT) / Interest 8.64 20.84 Charges Total Assets / Total ; ; Asset to Equity Ratio 1.46 1.36 Stockholders' Equity Profitability Ratios Sales - Cost of Goods Sold or ; ; Gross Profit Margin - - Cost of Service / Sales ; ; Net Profit Margin Net Profit / Sales 0.21 0.28 ; ; Return on Assets Net Income / Total Assets 0.04 0.07 Net Income / Total ; ; Return on Equity 0.06 0.09 Stockholders' Equity Price Per Share / Earnings Price/Earnings Ratio 30.38 21.27 Per Common Share Other Relevant Information - Filed on behalf by: Name Santiago Jr. Garcia Designation Corporate Secretary/Compliance Officer 11. All securities (common shares) are listed with the Philippine Stock Exchange, Inc. 12. Check whether the registrant: (a) has filed reports required to be filed by Section I7 of the SRC and SRC Rule 17 thereunder and Sections 26 and 141 of the Corporation Code of the Philippines during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); Yes [ x ] No [ ] 13. The aggregate market value of the voting stock held by non-affiliates: None TABLE OF CONTENTS PART I - BUSINESS AND GENERAL INFORMATION NO. OF PAGES Item 1 - Business 21 Item 2 - Properties 7 Item 3 - Legal Proceedings 1 Item 4 - Submission of Matters To A Vote of Security Holders 1 PART II - OPERATIONAL AND FINANCIAL INFORMATION Item 5 - Market for Issuer’s Common Equity and Related Stockholders Matters 3 Item 6 - Management’s Discussion and Analysis or Plan Operation 26 Item 7 - Financial Statements 1 Item 8 - Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 1 PART III - CONTROL AND COMPENSATION INFORMATION Item 9 - Directors and Executive Officers of the Issuer 10 Item 10- Executive Compensation 3 Item 11- Security Ownership of Certain Beneficial Owners and Management 2 Item 12- Certain Relationship and Related Transactions 6 PART IV EXHIBITS AND SCHEDULES Item 13- Exhibits and Reports on SEC Form 17-C a. Exhibits 1 b. Reports on SEC FORM I7 - C 4 c. Quarterly Reports 1 - 1 - PART I – BUSINESS AND GENERAL INFORMATION Item 1. Business Far Eastern University, Inc., was incorporated in 1933. It operates Far Eastern University in Manila, and is the majority shareholder of East Asia Computer Center, Inc. (EACCI); FEU Alabang, Inc.; Far Eastern College Silang, Inc.; FEU High School, Inc.; and Roosevelt College, Inc. In turn, EACCI is doing business under the names and styles FEU Institute of Technology and FEU Diliman, while Far Eastern College Silang, Inc., uses FEU Cavite. Brief Discussion of Business I. FAR EASTERN UNIVERSITY Far Eastern University (FEU) was founded in 1928 as a private, non-sectarian institution of learning. Guided by the core values of Fortitude, Excellence, and Uprightness, it aims to be a university of choice in Asia. Committed to the highest intellectual, moral, and cultural standards, the university strives to produce principled and professionally competent graduates; and it nurtures a service-oriented and environment-conscious community that seeks to contribute to the advancement of the global society. Tuition and other fees, which are the main sources of its financial stability, are moderate and subject to government regulation. Full and partial scholarship grants are also awarded to deserving students. FEU maintains excellent facilities to best serve the schooling experience of its students. These include, among others, a library with an expanding electronic footprint; laboratories of various types; audio-visual and multi-media rooms including smart classrooms; conference, meeting, and multi-function rooms; auditoriums, gyms, and other sports facilities; a clinic; an information- technology enabled gate security system; and an integrated cloud-based, enterprise-software (NetSuite) enrollment and financial system. All classrooms are spacious and air-conditioned – the ambient temperature powered campus-wide by an environmentally friendly and, apparently thus far, the only district-cooling system in the Philippines. It also uses a state-of-the-art learning management system, Canvas of Instructure. The university’s high standard of quality is substantiated by numerous recognitions from the Commission on Higher Education (CHED) as well as accrediting bodies such as the Philippine Association of Colleges and Universities Commission on Accreditation (PACUCOA) and the Philippine Accrediting Association of Schools, Colleges, and Universities (PAASCU).
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