Pryce Corporation (“PC” or the “Company”), formerly Pryce Properties Corporation, was incorporated on September 7, 1989. It was established basically as a property holding and real estate development company. The Company concentrates its operations in Mindanao and is principally involved in the development of memorial parks and sale of memorial lots; in the past, it had developed residential and commercial properties; it was previously engaged in the hotel business (Pryce Plaza). PC, as of this writing, owns and operates a total of thirteen (13) memorial parks in Mindanao’s major cities and areas: Cagayan de Oro City, Iligan City, Ozamiz, Polanco (near Dipolog City), Zamboanga City, Davao City, including the smaller memorial parks in Manolo Fortich (at the boundaries of Cagayan de Oro City and Bukidnon), Malaybalay City in Bukidnon, Malita in Davao Occidental, Bislig in Surigao del Sur, Alabel in Saranggani, Pagadian City, and the most recent in Butuan City, which was launched on January 25, 2019.
Pryce Gases, Inc. (“PGI”) is the Company’s subsidiary, which is principally engaged in the importation and distribution of liquefied petroleum gas (LPG) under the brand name PryceGas; it also produces and sells industrial gases. PC’s ownership in PGI slightly lowered to 91.4% (lower from the previous of 98% in 2014) as a result of the latter’s increase in authorized capital stock from P2.5 billion to P3.7 billion. PGI’s increase in capital stock was approved by the Securities and Exchange Commission (“SEC”) on May 22, 2015.
PGI has a wholly-owned subsidiary Oro Oxygen Corporation (“OOC”) which operates in Luzon and the National Capital Region (“NCR”). It sells/distributes PGI’s LPG product (PryceGas) and sells industrial gases that are sourced independently from PGI.
Another subsidiary of the Company is Pryce Pharmaceuticals, Inc. (PPhI), a wholesaler and distributor of private branded multi-vitamins and some ‘over-the-counter’ generic drugs. It was organized to primarily take advantage of the ‘Generic Medicines Law’. PPhI is a relatively small player in the pharmaceutical business as it was organized in September 2005.