Belle Corporation (BEL) was originally incorporated in 1973 as Belle Mining and Oil Exploration, Inc. (Belle Resources) and was listed on the Philippine Stock Exchange on February 2, 1977. In 1989, Belle Resources developed a golf club named Tagaytay Highlands International Golf Club, Inc., which became its initial foray into the property development sector. Thereafter, Belle Resources changed its name to Belle Corporation in 1994 to underscore the shift in its principal activity. In early 2001, Belle decided to spin-off some of its property development assets. The spin-off involved the transfer of approximately 534 hectares of undeveloped land, 70 developed subdivision lots and 25 finished residential units into a newly formed subsidiary, Highlands Prime, Inc. BEL's property development projects are located in Tagaytay City and Batangas, which consist of Alta Mira, Lakeside Fairways, Lakeview Heights, Pinecrest Village, Plantation Hills, Tagaytay Highlands Golf Club, Tagaytay Midlands Golf Club, The Belleview, The Country Club at Tagaytay Highlands, The Parks at Saratoga Hills, The Spa and Lodge at Tagaytay Highlands, The Verandas at Saratoga Hills, The Villas, and The Woodlands. The company's affiliates consist of Belle Bay City Corporation, Metro Manila Turf Club, Inc, and Pacific Online Systems Corporation. Source: SEC Form 17-A (2008)