THE state-owned Bases Conversion and Development Authority (BCDA) and its subsidiaries, collectively known as the BCDA Group, are among the top government-owned and -controlled corporations (GOCCs) in enforcing corporate governance standards.
A news statement released on Tuesday said the BCDA and its subsidiaries were all ranked in the top 25, out of 90 state-owned firms in the country, evaluated by the Governance Commission for GOCCs (GCG).
Poro Point Management Corp., which manages the Poro Point Freeport and Special Economic Zone in La Union, notched the highest ranking among the BCDA subsidiaries, capturing the third top spot among the 90 GOCCs. Its assessment score is 86 percent.
BCDA comes next, garnering the sixth spot with a score of 79.5 percent; followed by Clark Development Corp. at 12th spot (71 percent); and John Hay Management Corp. at 23rd (59.5 percent).
The GCG measured factors such as the state firms’ stakeholder relations, disclosure and transparency, and board responsibilities.
“This collective milestone is brought about by the consolidation of the BCDA Group’s businesses and resources. We now work as one unit in synergy and in complementarity, in a more aggressive effort to promote development and inclusive growth within the properties under BCDA’s domain,” outgoing BCDA President and CEO Arnel Paciano D. Casanova said in the statement.
In 2016 BCDA remitted P4 billion to the National Treasury for the full-year 2015, or a 25-percent increase, from the P3.2 billion it remitted for the same period in 2014.