CDC’s 2022 performance hits 91.26%, exceeds targets

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

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.

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