CDC accounts for missing racing cars

CLARK FIELD, Pampanga — Nine Formula 3 racing cars imported by an investor at the Clark Special Economic Zone have not vanished, the state-run Clark Development Corp. (CDC) clarified yesterday amid reports that the cars could not be accounted for after they were used in a racing event in Batangas last November.

Oliver Cagungun, manager of the CDC’s enterprise operations and management department, said the cars were imported last year by Kinetic Global Concepts Inc. (KGCI) and were issued permits to be brought out outside Clark for a limited period. Under the law, the cars cannot be brought out of the zone unless covered by a special temporary permit or until the usual taxes for such imports are paid to the Bureau of Customs.

Cagungun said the original temporary permit for the racing cars covered the period from Nov. 19 to Dec. 20 last year and was issued for their participation in the last leg of the Asian F3 racing circuit in Sto. Rosario, Batangas last Nov. 30.

Cagungun noted that his office approved the request of KGCI executive vice president Manuel Borja to extend the original permit up to April 30 this year so that they can be used in another leg of the Asian F3 competition to be held also in the same venue on April 25. — Ding Cervantes