FAR EASTERN UNIVERSITY INC. has earmarked P1 billion for further expansion and entered into a joint venture deal with the Pancake House restaurant group to put up a culinary school in Makati. In a disclosure to the Philippine Stock Exchange, FEU said its board of trustees had passed a resolution to set aside P1 billion out of its retained earnings for property acquisition and investment. The board likewise approved the setting up with PHI Culinary Arts and Food Services Inc. of a 50-50 percent joint venture named ICF-CCE Inc. for the purpose of owning and operating a culinary arts school to be named ICF@FEU. In a recent interview, FEU vice chair Aurelio Montinola III said the culinary school would be set up on the ground floor of the universitys new campus in Makati, which would open in June in time for the beginning of the new school year. Montinola estimated that the new campus would accommodate 2000-3000 new enrollees in the coming school year. The Makati campus, built from the former Zuellig Pharma building on Buendia Avenue corner Malugay Street, will offer business and technology as its core courses, Montinola said. Based on public feedback, business and technology are always useful courses so these were chosen to form the core offering of FEU on its Makati campus, he added. He said the tie-up with Pancake House was part of FEUs strategy to enter into key partnerships, such as the one with De La Salle University for the joint offering of MBA-JD (Masters in Business ...
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