CLARK FREEPORT— The state-owned Clark Development Corp. (CDC) which runs this freeport has boasted of unprecedented P2.27 billion cash position, an addition of P1 billion from last year’s figure.
CDC President-CEO Arthur Tugade, reporting to his employees during the flag ceremony here, also noted that CDC has remitted P200 million cash dividends to the national government. Minus taxes it paid government, the net CDC income totalled about P500 million, still an all-time high for the government corporation.
“We have done well in 2014, but we have to do more in 2015,” said Tugade who expressed gratitude for the support of CDC employees. The cash position of CDC went positive and reached P1 billion a year after Tugade assumed post in December 2013.
Tugade also reported that the target for new investments in this freeport has been raised to P2 billion for 2015. “The cooperation and support of all employees in the target investments will be needed to achieve the target for 2015,” Tugade said.
