Monday, December 29, 2008
PETPlans shifted to PETLINKS para manloko in new name.
PETPLANS Inc., one of the country’s leading Pre-Need Companies, will be moving forward from the pre-need industry to the marketing of various financial products. To do this, the Company will get proper approval to convert its planholders’ certificates into shares of a professionally and independently managed Mutual Fund. Lorenzo T. Ocampo, PETPLANS President & CEO, said this move forward “is the best alternative we can take to protect the interests of our planholders. We are leaving the pre-need industry, while the trust fund is liquid and intact, because the pre-need framework is no longer conducive to selling or owning pre-need plans. "The changes of SEC rules, done without consultation in the middle of the game, and the continuing rapid decline of the market no longer allow us to assure peace of mind to our planholders, which is the whole point of the pre-need business," he said. PETPLANS will be shifting its business into what it calls business hubs—the Network Hub which will sell life, non-life, HMO, and memorial park lots; the OFW Hub will provide remittances or money transfer, and document and parcel delivery services; and the Financial Hub will provide loans and credit card facilities. To satisfy legal requirements that will pave the way for this conversion plan, PETPLANS filed a petition for rehabilitation with the Makati Regional Trial Court. The Company is seeking the court’s permission to convert all outstanding pre-need plans and contracts into a professionally managed mutual fund. PETPLANS will continue in operation but will have a new name, PETLink Financial Corporation. Since it will no longer be subject to the uncertainties and restrictions of the pre-need industry, the Company is optimistic that the converted plans will generate reasonable returns for the planholders. While the approval of the conversion petition is pending, PETPLANS willl continue to pay the scheduled education, pension and memorial benefits due to planholders.
PETLINK: ANG BAGONG RAKET!
Sales Leaders Remain Committed to Serve. The 12th National Sales Convention-Manila held on May 25-26, 2006 at Hotel Dusit Nikko honored the Sales Leaders whose commitment to PETPLANS and the planholders bore fruit for all. From top left, clockwise: President Larry T. Ocampo with Florence Cruz, Caloocan; Aniana Briones, Cagayan de Oro; Angeles Jawod, Gen. Santos; Board Director Enrique Herbosa; Adelfa Banal, Angeles City; Chairman of the Board Fr. Ed Martinez; Cecilia Daguman, Catbalogan; and First Vice President Dong de Guzman.
PETPlans is reliable?
LIE NO. 1:
PETPlans is a reliable, customer-oriented and responsible company. We are financially strong and have a track record of honesty and integrity.
LIE # 2:
Consistently doing the right thing
PETPLANS was the first to stop selling traditional, open-ended educational plans in 1992 – at great financial sacrifice – because it was the right thing to do. This decision proved to be correct, with tuition fees increasing by 12 times over the last five-year period from 2000 to 2005. The SEC banned the sale of such open-ended plans only in 2002. PETPLANS has also offered a Buy-Back program to its open-ended planholders that paid off their original investments plus returns that are higher-than-bank interest rates. To date, less than 2,000 of some 4,000 open-ended plans have not been bought back. The program resulted in some P82 million savings for the company. PETPLANS recently decided to voluntarily impose a moratorium on the sale of new plans as it has become clear that current regulations will not provide peace of mind for planholders.
LIE # 3:
The Mechanics of Conversion
Upon the conversion’s approval by the court, planholders will exchange their pre-need plans, contracts and insurance certificates for a Fund Certificate indicating a certain number of shares with a corresponding value pro-portionate to their share in the Fund. For planholders who are not yet fully paid, all the subsequent payments will be deposited directly to the Mutual Fund, for which additional certificates will be issued to the planholders. Once the conversion is completed, holders of fully paid Fund certificates may decide to hold on to or withdraw their investment.
LIE # 5
Advantages of Mutual Fund Cited
A mutual fund is a fund operated by an investment company or placed under investment management of a bank or financial entity which raises money from shareholders and invests it in stocks, bonds, options, commodities, or money market securities. While the law does not allow mutual funds to guarantee a return, they may provide reasonable returns on planholders’ investments. These funds offer investors the advantages of diversification and professional management. The management of the fund by a very large, experienced and reputable institution, which can easily be accessed by planholders will help reassure them that their investments are intact and being taken care of. "Once outside the pre-need industry’s restricted investment guidelines,” Ocampo said, “the trust fund can take advantage of broader investment parameters that allow for better risk management, more realistic asset-liability matches, and higher returns."
LIE # 6
A Track Record of Excellence
PETPLANS has proven its Financial Strength, Commitment to Customer Interests, and Management Excellence.
Total Trust Fund Assets of P2.7 billion, of which P1.2 billion or 44% is in cash or cash-equivalent investments. With this alone, the Company has enough liquidity to cover plan availments over the next 5 years.
Over P150 million in cash or cash equivalent investments and over P60 million in real property assets in its corporate coffers.
At its peak, was growing at a clip of 25% per annum, with more than 130 branches nationwide, 500 employees and 12,000 sales agents serving some 140,000 planholders.
Rose to become the 4th largest company in just one year after its organization; thereafter maintaining its position as one among the 10 leading industry players.
Most comprehensively ISO-certified pre-need company, proving its world-class customer-first services and processes.
Cited as the “Most Outstanding Pre-Need Company” by 4 independent groups last year.
Total Assets of over P3 billion.
PETPlans is a reliable, customer-oriented and responsible company. We are financially strong and have a track record of honesty and integrity.
LIE # 2:
Consistently doing the right thing
PETPLANS was the first to stop selling traditional, open-ended educational plans in 1992 – at great financial sacrifice – because it was the right thing to do. This decision proved to be correct, with tuition fees increasing by 12 times over the last five-year period from 2000 to 2005. The SEC banned the sale of such open-ended plans only in 2002. PETPLANS has also offered a Buy-Back program to its open-ended planholders that paid off their original investments plus returns that are higher-than-bank interest rates. To date, less than 2,000 of some 4,000 open-ended plans have not been bought back. The program resulted in some P82 million savings for the company. PETPLANS recently decided to voluntarily impose a moratorium on the sale of new plans as it has become clear that current regulations will not provide peace of mind for planholders.
LIE # 3:
The Mechanics of Conversion
Upon the conversion’s approval by the court, planholders will exchange their pre-need plans, contracts and insurance certificates for a Fund Certificate indicating a certain number of shares with a corresponding value pro-portionate to their share in the Fund. For planholders who are not yet fully paid, all the subsequent payments will be deposited directly to the Mutual Fund, for which additional certificates will be issued to the planholders. Once the conversion is completed, holders of fully paid Fund certificates may decide to hold on to or withdraw their investment.
LIE # 5
Advantages of Mutual Fund Cited
A mutual fund is a fund operated by an investment company or placed under investment management of a bank or financial entity which raises money from shareholders and invests it in stocks, bonds, options, commodities, or money market securities. While the law does not allow mutual funds to guarantee a return, they may provide reasonable returns on planholders’ investments. These funds offer investors the advantages of diversification and professional management. The management of the fund by a very large, experienced and reputable institution, which can easily be accessed by planholders will help reassure them that their investments are intact and being taken care of. "Once outside the pre-need industry’s restricted investment guidelines,” Ocampo said, “the trust fund can take advantage of broader investment parameters that allow for better risk management, more realistic asset-liability matches, and higher returns."
LIE # 6
A Track Record of Excellence
PETPLANS has proven its Financial Strength, Commitment to Customer Interests, and Management Excellence.
Total Trust Fund Assets of P2.7 billion, of which P1.2 billion or 44% is in cash or cash-equivalent investments. With this alone, the Company has enough liquidity to cover plan availments over the next 5 years.
Over P150 million in cash or cash equivalent investments and over P60 million in real property assets in its corporate coffers.
At its peak, was growing at a clip of 25% per annum, with more than 130 branches nationwide, 500 employees and 12,000 sales agents serving some 140,000 planholders.
Rose to become the 4th largest company in just one year after its organization; thereafter maintaining its position as one among the 10 leading industry players.
Most comprehensively ISO-certified pre-need company, proving its world-class customer-first services and processes.
Cited as the “Most Outstanding Pre-Need Company” by 4 independent groups last year.
Total Assets of over P3 billion.
PETPlans is reliable?
LIE NO. 1:
PETPlans is a reliable, customer-oriented and responsible company. We are financially strong and have a track record of honesty and integrity.
LIE # 2:
Consistently doing the right thing
PETPLANS was the first to stop selling traditional, open-ended educational plans in 1992 – at great financial sacrifice – because it was the right thing to do. This decision proved to be correct, with tuition fees increasing by 12 times over the last five-year period from 2000 to 2005. The SEC banned the sale of such open-ended plans only in 2002. PETPLANS has also offered a Buy-Back program to its open-ended planholders that paid off their original investments plus returns that are higher-than-bank interest rates. To date, less than 2,000 of some 4,000 open-ended plans have not been bought back. The program resulted in some P82 million savings for the company. PETPLANS recently decided to voluntarily impose a moratorium on the sale of new plans as it has become clear that current regulations will not provide peace of mind for planholders.
LIE # 3:
The Mechanics of Conversion
Upon the conversion’s approval by the court, planholders will exchange their pre-need plans, contracts and insurance certificates for a Fund Certificate indicating a certain number of shares with a corresponding value pro-portionate to their share in the Fund. For planholders who are not yet fully paid, all the subsequent payments will be deposited directly to the Mutual Fund, for which additional certificates will be issued to the planholders. Once the conversion is completed, holders of fully paid Fund certificates may decide to hold on to or withdraw their investment.
LIE # 5
Advantages of Mutual Fund Cited
A mutual fund is a fund operated by an investment company or placed under investment management of a bank or financial entity which raises money from shareholders and invests it in stocks, bonds, options, commodities, or money market securities. While the law does not allow mutual funds to guarantee a return, they may provide reasonable returns on planholders’ investments. These funds offer investors the advantages of diversification and professional management. The management of the fund by a very large, experienced and reputable institution, which can easily be accessed by planholders will help reassure them that their investments are intact and being taken care of. "Once outside the pre-need industry’s restricted investment guidelines,” Ocampo said, “the trust fund can take advantage of broader investment parameters that allow for better risk management, more realistic asset-liability matches, and higher returns."
LIE # 6
A Track Record of Excellence
PETPLANS has proven its Financial Strength, Commitment to Customer Interests, and Management Excellence.
Total Trust Fund Assets of P2.7 billion, of which P1.2 billion or 44% is in cash or cash-equivalent investments. With this alone, the Company has enough liquidity to cover plan availments over the next 5 years.
Over P150 million in cash or cash equivalent investments and over P60 million in real property assets in its corporate coffers.
At its peak, was growing at a clip of 25% per annum, with more than 130 branches nationwide, 500 employees and 12,000 sales agents serving some 140,000 planholders.
Rose to become the 4th largest company in just one year after its organization; thereafter maintaining its position as one among the 10 leading industry players.
Most comprehensively ISO-certified pre-need company, proving its world-class customer-first services and processes.
Cited as the “Most Outstanding Pre-Need Company” by 4 independent groups last year.
Total Assets of over P3 billion.
PETPlans is a reliable, customer-oriented and responsible company. We are financially strong and have a track record of honesty and integrity.
LIE # 2:
Consistently doing the right thing
PETPLANS was the first to stop selling traditional, open-ended educational plans in 1992 – at great financial sacrifice – because it was the right thing to do. This decision proved to be correct, with tuition fees increasing by 12 times over the last five-year period from 2000 to 2005. The SEC banned the sale of such open-ended plans only in 2002. PETPLANS has also offered a Buy-Back program to its open-ended planholders that paid off their original investments plus returns that are higher-than-bank interest rates. To date, less than 2,000 of some 4,000 open-ended plans have not been bought back. The program resulted in some P82 million savings for the company. PETPLANS recently decided to voluntarily impose a moratorium on the sale of new plans as it has become clear that current regulations will not provide peace of mind for planholders.
LIE # 3:
The Mechanics of Conversion
Upon the conversion’s approval by the court, planholders will exchange their pre-need plans, contracts and insurance certificates for a Fund Certificate indicating a certain number of shares with a corresponding value pro-portionate to their share in the Fund. For planholders who are not yet fully paid, all the subsequent payments will be deposited directly to the Mutual Fund, for which additional certificates will be issued to the planholders. Once the conversion is completed, holders of fully paid Fund certificates may decide to hold on to or withdraw their investment.
LIE # 5
Advantages of Mutual Fund Cited
A mutual fund is a fund operated by an investment company or placed under investment management of a bank or financial entity which raises money from shareholders and invests it in stocks, bonds, options, commodities, or money market securities. While the law does not allow mutual funds to guarantee a return, they may provide reasonable returns on planholders’ investments. These funds offer investors the advantages of diversification and professional management. The management of the fund by a very large, experienced and reputable institution, which can easily be accessed by planholders will help reassure them that their investments are intact and being taken care of. "Once outside the pre-need industry’s restricted investment guidelines,” Ocampo said, “the trust fund can take advantage of broader investment parameters that allow for better risk management, more realistic asset-liability matches, and higher returns."
LIE # 6
A Track Record of Excellence
PETPLANS has proven its Financial Strength, Commitment to Customer Interests, and Management Excellence.
Total Trust Fund Assets of P2.7 billion, of which P1.2 billion or 44% is in cash or cash-equivalent investments. With this alone, the Company has enough liquidity to cover plan availments over the next 5 years.
Over P150 million in cash or cash equivalent investments and over P60 million in real property assets in its corporate coffers.
At its peak, was growing at a clip of 25% per annum, with more than 130 branches nationwide, 500 employees and 12,000 sales agents serving some 140,000 planholders.
Rose to become the 4th largest company in just one year after its organization; thereafter maintaining its position as one among the 10 leading industry players.
Most comprehensively ISO-certified pre-need company, proving its world-class customer-first services and processes.
Cited as the “Most Outstanding Pre-Need Company” by 4 independent groups last year.
Total Assets of over P3 billion.
PET PLANS INC.- MANLOLOKO!
This blog is created for all clients of Pet Plans Inc. who were fooled by the said pre need company.
Saturday, November 17, 2007
PET PLANS: HINDI PROBLEMADO!
Ang PetPlans ay talagang hindi problemado sapagkat kasalukuyang nagpapakasasa ang pamunuan nito sa mga pera ng pinangakuang kliyente. Kawa awa ang sinapit ng mga kliyente na umaasa na may makukuha silang pension balang araw subalit sadyang nagdeklara ang Pet Plans ng pagkalugi upang mapasa kanila ang mga ibinayad ng mga tao. Sinadya nilang magpalit ng pangalan sapagkat malapit ng makatanggap ng pension ang mga naunang miyembro nito. Kaya dali dali itong nagsara at humingi ng permiso sa SEC upang makapagpalit ng pangalan, kapalit ng pagbabayad ng humigit kumulang sampong porsyento ng naibayad ng miyembro nito.Ang masaklap pa dito, nakipagsabwatan pa sila sa BPI upang doon perahin ang statement of acount ng mga miyembro. Sa halip na gawin na lamang tseke at ibigay sa mga miyembro na agad maipapalit ay pinadaan pa sa BPI upang muli silang tumubo sa kikitain ng halagang nakadeposito sa bangko. Ang mas masaklap pa nito, para bang pina pa ikot ikot pa ng bangko ang isang miyembro sa paghanap ng pera niya. maraming alibi.Kung saan saan ka ituturo hanggang sa maligaw na ang kliyente at hindi na hanapin pa ang pera niya. Kaawa awa nag mga biktima. Nakapagtago ang PETPlans sa teknikalidad ng batas...
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