CDC posts record income in 25 years

February 02, 2020

CLARK FREEPORT – This Freeport remains to be one of the premier investment hubs in the country as Clark Development Corporation (CDC) cites an all-time high economic performance for the past three consecutive years (2016 to 2018) under the Duterte Administration.

CDC President and CEO Noel F. Manankil recently reported that in a span of three years, economic indicators at the Freeport registered record-breaking levels since CDC’S inception in 1993.  

Generated total revenues of CDC peaked at P6.08 billion, representing 29-percent of its total revenue in its 25 years of existence.

Significant growth was also posted in the net income of CDC at P3.17 billion or 51-percent of the entire net profit of the state-owned firm from 1993 to 2018. This exceeded the combined earnings of CDC in the past 22 years (1993 to 2015) of 3.01 billion. With the continuous upturn of investments here, CDC is projected to have a 58-percent growth of its net income in the next five years (2020-2024).

Some of the top revenue contributors include Widus International Leisure, Inc., Filinvest Mimosa, Inc., Eight Integrated Development Corp., Eaglesky Technology and Amusement Corp., Yokohama Tire Phils. Inc., L&T International, Inc., Premier Central, Inc., and Puregold Duty-Free Inc., among others.