Clark Telecommunication Company Inc. was incorporated on June 28, 1997 with Philippine Exchange Commission to engage primarily in the provision of integrated telecommunications services and in the establishment, operation and maintenance of telecommunication facilities, network and systems within ClarkSpecialEconomic Zone (CSEZ). The company was partly owned by PLDT (60%) and Clark Development Corporation(40%). Clark Development Corporation (CDC) is the government agency that was tasked to managed development programs within the ecozone. With the termination of the exclusive franchise on August 31, 1999 to invite the entry of other telecom providers, CDC gave up its stake at ClarkTel in favor of PLDT. Thus, Clarktel Becomes 100% PLDT-Owned.