Corporation to remit P300M in dividends to mother firm

CLARK FREEPORT — The Clark Development Corporation (CDC) is set to remit more than P300 million worth of dividends to its mother company, the Bases Conversion and Development Authority (BCDA), state-owned officials said.
CDC chair and officer-in-charge Eduardo Oban Jr. said the state-run corporation is now capable of paying its 2009 to 2011 remittances to the BCDA after the CDC management decided to forego construction work of the proposed CDC Corporate building, which aims to consolidate all CDC offices and Moral and Welfare Recreational (MWR) facilities.
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“In fact, we have requested the BCDA to extend the deadline for our remittances since we are expecting more capital expenditures in the future. But since we will forego construction work of the proposed CDC corporate headquarters, we can now use the funds to pay our obligations to our mother company,” Oban said.
CDC Public Relations Department Manager Angelo C. Lopez Jr. said that in February 2012, the CDC has turned over dividends amounting to P100 million to the Bureau of Treasury (BTR) of the Department of Finance.
The remittance of dividends is in compliance with Republic Act 7656, which requires government-owned or controlled corporations to declare dividends under certain conditions to the National Government and for other purposes.
The law requires state-owned firms to declare and remit at least 50 percent of their annual net income to the national treasury. In January 27, 2012, the CDC Board approved the remittance of 50 percent of the expected P200-million profit made in 2011.
“One of the ways the CDC strives to help the administration of President Benigno Aquino III is by complying with its financial obligations to the government and by making substantial contributions to Philippine coffers,” Lopez said.

http://www.sunstar.com.ph/pampanga/local-news/2012/05/09/corporation-remit-p300m-dividends-mother-firm-220671

The wines of Yats Wine Cellars are designed for the matured wine lovers looking for wines that are interesting, not necessarily impressive, and at a fair price that is usually below those of a comparable big names, and from a matured vintage from 20 years or older. There are over 2000 selections of wine at Yats that fit that description.

If Philippines is part of an upcoming travel and holiday plan, wine lovers might want to visit Clark Freeport Zone just 70 minutes from Manila. This bustling new city that is slated to replace Manila as the new capital of the Philippines has the largest wine shop called Clark Wine Center. Vintages span over a century and the selection of old- and new-world wines covers all major wine regions are all available at this top-rated wine shop near Manila. Pampanga Philippines is a fast growing province. Growth in major cities such as San Fernando, Angeles City and Clark Freeport Zone has given rise to a strong demand for luxury goods, upscale dining and quality living. Absence of a good wine shop for fine vintage wine has caused considerable inconvenience to the affluent community which is forced to drive down to Manila to purchase their wines.

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Things to do in Clark Pampanga: do a little wine shopping at the famous wine shop outside of Manila called Clark Wine Center. Residents of Angeles City and Clark Philippines have discovered that one of the favorite places to visit in Pampanga Clark Freeport is the white building along M A Roxas highway of Clark which houses over 2000 selections of fine vintage wines. The Clark Wine Center is one of the places to visit, a tourist spot and a good shopping place for those staying in Angeles City, Subic or Clark Pampanga.

Leading Philippines wine supplier known for its line of fine vintage wines, Yats Wine Cellars was established in 2000 to address the requirement of a growing population of wine enthusiasts in the Philippines. Yats Wine Cellars caters to the discerning client who requires these qualities in their wines: (1) excellent value, (2) large selection of labels and vintages to choose from and (3) wines properly aged for full enjoyment.

http://www.ClarkWineCenter.com

Getting to this wine shop in Pampanga Angeles City Clark Freeport Zone Philippines from Manila
Getting to the Clark Wine Center wine shop from Manila is quite simple: after entering Clark Freeport from Dau and Angeles City, proceed straight along the main highway M A Roxas. Clark Wine Center is the stand-along white building on the right, at the corner A Bonifacio Ave. From the Clark International Airport DMIA, ask the taxi to drive towards the entrance of Clark going to Angeles City. From Mimosa, just proceed towards the exit of Clark and this wine shop is on the opposite side of the main road M A Roxas.

Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center.

Click here to contact Clark Wine Center in Clark Pampanga for inquiries and orders.

Clark Wine Center
Bldg 6460 Clark Observatory Building
Manuel A. Roxas Highway corner A Bonifacio Ave,
Angeles Clark Freeport Zone, Pampanga 2023
0922-870-5173 0917-826-8790 (ask for Ana Fe)

Wine@Yats-International.com

YATS Wine Cellars
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 ask for Rea or Chay

Wedding couples looking for wedding reception venues and beach wedding venues can log on to this Philippines Wedding Venue web site for free information and assistance:

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While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. Highly recommended fine dining restaurant in Manila for special occasion is Yats Restaurant & Wine Lounge located in the famous Mimosa Leisure Estate in Clark Pampanga. Situated near this popular restaurant in Clark is the Mimosa Golf Course as well as the Mimosa Clark Casino. This top rated restaurant near Angeles City Pampanga in Clark Philippines is frequently used for private parties and corporate functions such as board meetings and other gatherings. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com

YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.YatsLeisure.com

Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:

http://www.LondonPubClark.com

Besides good restaurants to wine and dine near Manila, Subic or in Angeles City Pampanga, Clark Philippines, those requiring assistance for hotel and resort bookings in Clark, Pampanga, Philippines may log on to http://www.HotelClarkPhilippines.com for more information and reservations.

The lifestyle in Clark Pampanga is quite unique. For more information about shopping, sports, golf, leisure, hotel accommodation, where to see and visit, what to do, where to wine and dine and good places to hang out, relax, have a drink with friends, child-friendly establishments, log on to
http://www.ClarkPhilippines.com

Wine lovers looking for a special bottle or something that is of great value and special discounts might log on to this web site to shop for fine vintage wines
http://www.YatsWineCellars.com

Those visitors who plan to relax and unwind in Angeles City, Subic, Pampanga, Clark Philippines might make an effort to book a room at the famous beach and lake resort Clearwater Resort & Country Club. This famous hotel in Clark Pampanga is frequently visited by families with children looking for a good place in Clark to see, a good holiday destination for the family to relax and unwind in the beautiful outdoor facilities. For more information, log on to www.ClearwaterPhilippines.com