Flagship project signed by CDC and Singapore Firm

CLARK FREEPORT- Some Php 7 billion was committed by the Singapore based Capilion Corporation Pte .Ltd. after a long -term lease agreement was signed with the Clark Development Corporation (CDC) recently.

Capilion of Singapore agreed to develop as mixed-used facility ideal for business process outsourcing (BPO), residential, commercial, or even retail enterprises in a 3 ha. property inside the Clark Freeport Zone.

After the agreement was signed by CDC president Arthur Tugade and Peter YB Tay, president and CEO of Capilion, the Singapore firm presented to CDC demand drafts totaling almost $ US 4.9 million or approximately Php 215 million to represent the firm’s advance lease, security deposit and performance security plus a reservation for another 8,639 square meters adjacent to its property.

The agreement also required to sign an anti-graft undertaking and exert every effort to hire indigenous people (IP) and persons with disabilities (PWD’s). These provisions bear the unmistakable stamp of Tugade’s advocacy for a graft-free corporation and his genuine concern for the welfare of the IP’s and PWD’s.

The president and CEO of Capilion also presented a bank certification issued by the Union Bank of the Philippines confirming the firm’s fund of Php 2 billion for the property development in Clark.

“This will be the biggest contract to be signed by the new administration in terms of employment generation with a projection of 75,000 that can be accommodated within 7 years”, according to Tugade.

‘’Our target of breaking the 100,000 employee barrier by the year 2016 is projected to be broken by 2015 because of the entry of Capilion to Clark”, Tugade said.

Capilion’s development timelines will be in three (3) phases and is expected to be completed by the end of year 2018.

Capilion Corporation Pte. Ltd. was established by Mr. Peter YB Tay in 2006 in Singapore to act as an International Private Equity and Corporate Finance Advisory firm. It is part of the Capilion Group of Companies, Capilion Financial Limited and Capilion RE Engineering Limited.

The Capilion Group of companies has businesses involved in private equity, corporate services, real estate, financial securities, ship ownership, shipping and shipbuilding, infrastructure development and clean and renewable energy projects. The group has various stakes in different countries such as securities industry in Indonesia, ferry project in China, biofuel in Indonesia, infrastructure in Kyrgyzstan, mono rail project in India, and various other real estate projects in South East Asia.