Sara Duterte remained company director even after assuming VP post — witness - GMA Network

Vice President Sara Duterte remained one of the Board of Directors of Metro City Chow Foods Corporation until 2025 or even after she was elected and assumed office as Vice President, a witness from the Securities and Exchange Commission (SEC) said Monday.

SEC Company Registration and Monitoring Department Director Gerardo Fernando del Rosario made the testimony during Day 27 of the impeachment trial of Duterte, saying the Vice President’s position in the said firm was reflected on Metro City Chow Foods Corporation submissions to the SEC.

“Ayon po sa GIS nila from 2022-2024, si VP Sara Duterte ay member pa rin po ng Board of Directors,” Del Rosario said, referring to General Information Sheet.

(Based on its GIS from 2022 to 2024, Vice President Duterte is a member of the Board of Directors [of Metro City Chow Foods Corp.)

Asked about the following year’s filing, the SEC official confirmed: “Member pa rin siya ng Board of Directors sa GIS ng 2025.”

(The GIS of the same firm showed the Vice President remained as one of the Board of Directors in year 2025.)

Asked by private prosecutor Erwin Matib to explain what a board does, Del Rosario described its authority over the corporation’s business and property, as well as its responsibilities to shareholders and government agencies.

On the board’s role in conducting the company’s business, Del Rosario replied, “Hindi po siya makakapag-conduct ng business kung wala po siyang Board of Directors.”

(A firm cannot conduct business without a Board of Directors.)

Also on Monday, Del Rosario said the Constitution prohibits the Vice President from participating in any business as provided under Article 7, Section 13 of the Constitution.

During the same hearing, Del Rosario said that GenCorp. Industries Inc. (GenCorp), a firm declared by Vice President Duterte as one of her business interests in her Statement of Assets, Liabilities and Net Worth (SALN), did not list her as an incorporator or director based on the firm’s General Information Sheet and Audited Financial Statement submitted to the SEC.

Del Rosario made the confirmation when he was asked by prosecutor Eric Matib and later on by Senator Joel Villanueva if SEC records showed any involvement of the Vice President with GenCorp given that the Vice President listed it as one of her business interests in her 2023, 2024 and 2025 SALNs or during her term as Vice President.

“Wala po siya sa [company records ng] GenCorp,” Del Rosario said.

Senator judge and Senate President Sherwin Gatchalian then quizzed Del Rosario as to possible scenarios which would explain the Vice President’s declaration of the firm as one of her business interest even if the company’s SEC submissions does not say so.

“Ano po ang posible na nangyari rito?,” Gatchalian said.

“If GenCorp has a corporate subscriber with a controlling interest…based on its GIS, it has corporate subscriber, JTC Group of Companies, which holds 55% of the company’s equity. If I am to give an example [scenario], maaring ang may-ari ng JTC ay si VP Sara, para magkaroon siya ng control dito sa GenCorp na kung saan hindi mag-aapear ‘yung pangalan niya [sa corporate records].

Del Rosario said that based on SEC records, JTC Group of Companies is represented by a certain Jaime T. Cruz.

“Yun po ang isang scenario; kung talagang siya ay may control ng JTC,” Del Rosario added.

(That is one possible scenario, if she is in control of JTC," Del Rosario added. — RSJ, GMA News