The team was owned by Jean Henri Lhuillier and played its home games at the Cebu Coliseum.
He was replaced by former PBA player Tonichi Yturri during the inaugural season of the Metropolitan Basketball Association in 1998.
Among the players in their first season were Michael Manigo, a 5'7 guard out of Cebu Doctors College, Dondon Hontiveros who won the MBA Discovery of the year award, Rob Wainwright, Rob Duat, Chris Tan, Chris Mendoza, Jan Montalbo, Stephen Padilla and Rudy Enterina.
[1] With the acquisition of Matt Mitchell and Kenny Evans, the Gems made it to the national finals against the Manila Metrostars.
In the first phase of the 2001 MBA season, the Gems finished the eliminations with 10 wins and four losses, tied with Andok's-San Juan Knights and Negros Slashers.