Crown Equities, Inc. (CEI) was first incorporated as Leyte Base Metal Corporation, Inc. on October 24, 1969 to engage in, among others, the exploration, development and mining of mineral claims. When a new set of shareholders assumed control in 1993, the corporate name was changed to Pacific Rim Oil and Resources Corporation. In 1995, the company shifted its primary business activity from oil exploration to investment holding, and changed its name a year after to the present one. CEI eventually divested its remaining interests in oil exploration, and focused its resources on other fields of investment. CEI, through its subsidiaries, acquired various real estate properties to be developed into commercial, industrial, residential, or mixed-use areas. The company has investments in a healthcare business, particularly in two medical ambulatory care clinics. Except for Healthcare Systems of Asia Philippines, Inc. and Crown Central Properties Corp., the subsidiaries of CEI are still in the pre-operating stage. Source: SEC Form 17-A (2008)