FILINVEST, JG SUMMIT COMMIT P839B FOR CLARK AIRPORT DEVELOPMENT

Filinvest Development Corp. and JG Summit Holdings Inc. Announced that they have submitted an unsolicited proposal to the Bases Conversion and Development Authority (BCDA) and the Department of Transportation (DOTr) for the long-term development of the Clark International Airport through a joint venture agreement. The consortium has appointed Changi Airports International (CAI) as their technical partner. The consortium has committed to invest P839 billion for the long-term development of the Clark International Airport.