CLARK FREEPORT — The Governance Commission for Government Owned or Controlled Corporations (GCG) has officially confirmed that Clark Development Corporation (CDC) achieved a remarkable 91.26% performance rating for the year 2022.
This achievement was communicated to CDC President and CEO Atty. Agnes VST Devanadera in a letter dated July 25, 2023, issued by former GCG Chairperson and retired Justice Alex Quiroz.
Atty. Devanadera attributed CDC’s accomplishments to the collective efforts of all officers and employees, highlighting the corporation’s resilience in the face of challenges.
The comprehensive evaluation conducted by GCG underscores CDC’s accomplishments in various areas, including increased investments by CDC-registered businesses, higher Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA), increased customer satisfaction levels, and the successful implementation of livelihood assistance projects.
In addition, the state-run firm also achieved a customer satisfaction rate of 91%, exceeding the targeted 90% mark. The evaluation also underscored CDC’s achievements in environmental safety, ecological stability, priority Corporate Social Responsibility (CSR) projects, as well as the successful implementation of Information Communication Technology (ICT) tools and the recertification under Quality Management Systems (ISO 9001:2015).
CDC’s actual committed investments reached P 2,314,666,311, surpassing the target of P 1.729 billion. The corporation also achieved substantial operating profitability and cash levels, with actual EBITDA reaching P 2,619,680,000, well beyond the targeted P 1.247 billion.
The GCG’s Performance Evaluation System serves as the foundation for setting organizational goals and offering performance-based incentives for employees.
