The time & date in Clark, Philippines is

Corruption in Clark Philippines may become less daring as all the top officials of Clark Development Corp., or CDC are replaced by President Aquino.

Stake-holders, potential investors as well as anyone who has a vested interest in the well being and future of Clark Freeport Zone, Pampanga, Philippines are happy to hear that Philippines President Aquino has finally taken actions to replace the top officers running Clark Development Corporation.

Here is a report published by Philippines Daily Inquirer on 17th April, 2011.

Aquino appoints ex-Comelec chief to Clark board

By TJ Burgonio
Philippine Daily Inquirer
First Posted 02:14:00 04/17/2011

Filed Under: Government offices & agencies, Government, Board of Directors (Appointments and Changes)

MANILA, Philippinesโ€”Three months after retiring from the Commission on Elections (Comelec), Jose Melo will be sitting on the board of Clark Development Corp. (CDC).

President Aquino has appointed Melo and several others to the board of CDC, which recently came under investigation over the excessive perks of its executives, deputy presidential spokesperson Abigail Valte said yesterday.

Melo retired from the Comelec in mid-January.

Also appointed by Aquino were Cesar Villanueva, dean of the Ateneo de Manila University Law School, as CDC chairman, and Felipe Antonio Remollo as CDC president and chief executive officer, Valte said over state-run Radyo ng Bayan.

Apart from Melo, also named to the CDC board were Francis Raphael Carpio Elum, Jose Danilo Honrado, Ricardo Baron, Manuel Feliciano and Rommel Bondoc, Valte said.

In a House inquiry last December, the Commission on Audit disclosed that CDC president Benigno Ricafortโ€™s office received P14.506 million in salaries and allowances in 2009 alone.

P10 million for intelligence fund

The amount was broken down into P10 million extraordinary expense, P2 million basic salary, and the rest in representation and transportation and clothing allowance, etc.

Ricafort asserted that the P10 million was used as an intelligence fund to ensure the safety of investors in the 30,000-hectare free port.

Valte also confirmed that Teresita Herbosa, a corporate lawyer from the Angara Abello Concepcion Regala and Cruz (Accra) law office, had been appointed chair of the Securities and Exchange Commission.

Valte said Aquino also appointed new administrators of the Subic Bay Metropolitan Authority (SBMA) which, like CDC, was investigated for its executive perks.

Named were Rafael Reyes as administrator and chief executive officer replacing Armand Arreza, and Roberto Garcia as chairman of the board vice Feliciano Salonga.

An EO to prevent corruption

The other SBMA appointees were Alfonso Siapno and Wilfredo Pineda.

President Aquino last year directed the Department of Budget and Management to craft an executive order putting a cap on the perks of officers of government-owned and -controlled corporations (GOCCs).

Former President Gloria Macapagal-Arroyo issued Memorandum Order No. 20 in June 2001 to control the compensation and benefits of GOCC executives and employees, but apparently this was not implemented.

The other appointees were to the Department of Tourism: Myra Marie Villarica as undersecretary; Maria Lourdes Jaleco, assistant secretary; and Mary June Bugante, acting regional director.

Many keen observers of Clark Freeport affairs still remember vividly the expose of extraordinary compensation received by President and CEO Benny Ricafort.

According to reporter Leila B. Salverria of Philippines Daily Inquirer’s expose titled “Subic, Clark execs highest paid gov’t men” (full story on http://newsinfo.inquirer.net/inquirerheadlines/nation/view/20100807-285364/Subic-Clark-execs-highest-paid-govt-men ) CDC President and CEO Ricafort got his millions through “extraordinary and miscellaneous” expenses, including but certainly not limited to these for example: Php 832,400 in per diem for sitting in the Board of Directors of Clark Development corporation and the Clark International Airport Corp CIAC, another p606,056 in Rata and php497,441 in “others” and then nearly p400,000 in bonus and incentives.

---

If this article about Clark is useful to you, please click here to contact us to tell us what more you wish to know about this article or Clark Philippines, which can be something about Clark investment, about Clark resorts, about Clark Swimming and Leisure or simply general news about Clark.

---

Please send questions to Editor@ClarkPhilippines.com. Leave your name, email address, contact numbers and we will get back to you as soon as possible. Information received will not be disclosed.

---