CLARK FREEPORT — The Clark Development Corp. (CDC) reported a net income of ₱2.79 billion in 2023, up by 28% from ₱2.19 billion at the close of 2022. Total assets of the state-owned firm stood at ₱13.81 billion, posting a 12% growth from the 2022 figure of ₱12.31 billion.
The Commission on Audit substantiated the figures and recently issued an unmodified opinion on the CDC financial statements for the said year.
CDC president and CEO Atty. Agnes VST Devanadera credited the financial gains to prudent fiscal management, incremental revenue shares arising from tourists’ spending, and locators’ confidence in teamwork between the management and the CDC board of directors.
Devanadera emphasized that the CDC would continuously aim to improve the ease of doing business in the freeport to retain existing investors and attract more branded businesses.
With its record-breaking performance, the CDC remitted ₱1.80 billion in cash dividends to the Bureau of the Treasury only last March 25. This is in support of Finance Secretary Ralph Recto’s request for a higher dividend rate and early remittance. CDC-PR
