As of the end of 2008, Pryce Plans trustee banks reported a total trust fund equity of P846.99 million, of which P590.73 million is for educational plans while P256.26 million is for Pension plans.However, the cash portion of these trust funds amounted to only P106,839.00 or a mere 0.01 percent of total trust fund. remains solvent and liquid though it is barely able to pay planholders in cash owing to trust fund illiquidity, data from the Securities and Exchange Commission showed. 16, 2009 MANILA, Philippines– Preneed firm Pryce Plans Inc.As of end last year, Pryce Plans had assets of P1.28 billion as against total liabilities of P974.56 million.From P1.87 billion in 2004, its assets have been depleted by 31.7 percent.
The company has stopped selling new plans since 2006 and has since continued to service planholders only. TV MANILA, Philippines – Cash-strapped pre-need firm Pryce Plans Inc. Reports submitted by Pryce Plans’ trustee banks to the SEC showed that the ailing pre-need company had reserves of only P113.23 million, short of the required 20 percent reserve of P168.4 million.
Pryce Plans has assets of P1.28 billion as of the end of 2008 as against total liabilities of P974.56 million.
The firms assets have dwindled by 31.7 percent from 2004 when its total assets amounted to P1.87 billion.
The dacion includes liquefied petroleum gas (LPG) from sister company Pryce Gases Inc., medicine from another sister company Pryce Pharmaceuticals Inc., and memorial lots provided other Pryce companies.
For those availing the swapping option, their maturity benefits are in effect converted into capital for dealership of LPG or medicines which are given immediately to them upon their assent.