New CDC head defers plan to privatize Mimosa

CLARK FIELD, Pampanga – Newly installed Clark Development Corp. (CDC) president and chief executive officer Liberato Laus has impressed investors with his "fresh and modern" approach in managing the Clark special economic zone.

Laus announced the other day plans to defer privatize the privatization of the 215-hectare Mimosa leisure estate "to prove that government corporations can run things profitably as private corporations can."

The plan, he said, is to upgrade Mimosa, particularly the 36-hole Mimosa golf course. A study is also being made to find out whether Mimosa should be eventually turned over to more than just one private investor.

The CDC took over the Mimosa estate from the Mondragon Leisure and Resorts Corp. (MLRC) during the Estrada administration after the MLRC allegedly  failed to fully comply with its contract with the government-owned firm.

In his first press conference here the other day, Laus said he already placed orders for 50 new golf carts to replace old ones. The new golf carts would cost P15 million.

"There’s a lot of business sense that we put here. Remember the Subic Clark Tarlac Expressway is opening next year, so it’s just a matter of waiting for one year and you have another 20 or 30 percent added value on that property. So why rush privatization?" Laus said.

Frankie Villanueva, president of the Clark Investors and Locators Association (CILA) expressed support for Laus’ plans.

Laus said they are planning to hire a professional golf consultant to make the Mimosa golf course at par with the best in the world.

He also said that a study is being made on whether to divide Mimosa into three parts- the golf course, the hotels and villas, and casino — for separate biddings, noting that an investor in golf courses may not be interested in running a casino.