Pryce Corporation (PPC), formerly Pryce Properties Corporation, is a property holding and real estate development company incorporated on September 7, 1989. The company concentrates its operations in Mindanao and is involved in the development of memorial parks; in the past, it had developed residential and commercial properties. It is also engaged in hotel operations. PC owns and operates memorial parks in Mindanao's major cities such as, Cagayan de Oro, Iligan, Ozamiz, Dipolog, Zamboanga and Davao. It also has smaller sized memorial parks appropriate for Mindanao's secondary cities or major municipalities, namely, Manolo Fortich and Malaybalay in Bukidnon, Malita in Davao del Sur, Bislig in Surigao del Sur and Alabel, Saranggani. PPC's lone subsidiary is Pryce Gases, Inc., which produces and sells industrial gases, and engages in the importation and distribution of liquefied petroleum gas under the PryceGas brand name. On July 9, 2004, PPC filed a petition for rehabilitation with the Regional Trial Court (RTC) of Makati after experiencing in previous years, a series of downturns in its real estate revenues resulting in its inability to service maturing bank debts. On December 1, 2004, an appointed receiver submitted to the court its recommended rehabilitation plan, which was approved by the RTC of Makati on January 17, 2005. Source: SEC Form 17-A (2008)