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.