Golden Haven Memorial Parks Inc., a company controlled by the Villar family, said Thursday it plans to venture into pre-need industry.
Golden Haven chief operating officer Maribeth Tolentino said during the investors briefing the company planned to form a new subsidiary offering pre-need plans to customers.
“We hope to do this before the end of 2016 or early 2017,” Tolentino said.
The move to venture into the pre-need sector will not only expand Golden Haven’s services but will also allow the company to play in all five segments of death care services.
Golden Haven is now into development of memorial parks and columbaria and will soon start operating memorial chapels and a crematorium in Las Piñas City.
Golden Haven has developed 55.2 hectares of land and currently operates six memorial parks and four columbaria in the cities of Las Piñas and Cagayan de Oro and the provinces of Bulacan, Cebu, Zamboanga and Iloilo.
The company has recently acquired two properties in Nueva Vizcaya and Bulacan that would add over 19,000 memorial lots to its inventory.
Tolentino said the company also planned to start selling products and services to overseas Filipino workers through sister company Vista Land & Lifespaces Inc., which is the integrated real estate firm of former Senate president Manuel Villar.
“Our vision is to provide premier private memorial parks and services to all Filipinos. We also aim to improve the quality of death care services available in the country,” Golden Haven president Jerry Navarete said.
“The company has mapped out a strategy to having a park in every hometown that targets to achieve its vision of becoming the nationally-recognized brand in the deathcare products and services industry,” he said.
Golden Haven in the first company in the death care industry to be listed with the Philippine Stock Exchange.
It plans to raise up to P778 million in proceeds, representing 15 percent of the total issued and outstanding capital stock of the company after the initial public offering.
Proceeds are intended for land acquisitions, land development and completion of Las Piñas memorial chapel and crematorium. Listing date was set on June 29.
Golden Haven will be the first company to list with the PSE this year.