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Sunday, November 10, 2024

FEU joint venture plans Brunei nursing school

Far Eastern University Inc. (FEU) said Thursday it finalized its joint venture agreement with Jerudong Park Medical Centre Sendirian Berhad over a plan to establish a nursing school in Brunei Darussalam.

FEU said in a disclosure to the stock exchange Thursday JPMC College of Health Sciences SDH BHD (JCHS), the joint venture company of JPMC and FEU, would establish, manage and operate a private nursing school in Brunei Darussalam.

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JMPC will invest BND 3,300,000 (P131.3 million) for a 60-percent stake in JCHS, while FEU will contribute BND 2,200,000 (P87.53 million) for a 40-percent equity.

“The closing date will be 21 calendar days after the satisfaction of all conditions to closing; namely the execution of the technical management services agreement, and the issuance of all necessary third-party consents, approvals, waivers, and government permits,” said FEU.

FEU under the agreement will provide academic and technical management and other services to JCHS under a technical management services deal to be executed between JCHS and FEU.

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