No record of Sara Duterte divesting business interests – SEC witness

MANILA, Philippines — The Securities and Exchange Commission (SEC) has not received any document showing that Vice President Sara Duterte transferred ownership of businesses linked to her to other people, an official told the Senate impeachment court on Monday.

On the 27th day of Duterte’s impeachment trial, the prosecution team presented SEC Company Registration and Monitoring Department Director Gerardo del Rosario to testify on the alleged interests of Duterte and her husband, lawyer Manases Carpio, in 18 companies.

Del Rosario confirmed that the vice president was listed as one of the incorporators of Metro City Chow Foods Corp. in 2016 and served on its board of directors from 2018 to 2025.

Article continues after this advertisement

READ: SEC records: Sara Duterte stayed company director after becoming VP

When Senator-judge Risa Hontiveros asked whether Duterte had filed any document with the SEC to divest from or withdraw from any of the companies linked to her, the witness recalled at least two firms where the vice president’s name no longer appeared in the business documents.

According to the SEC official, Duterte was listed as a stockholder of City Hall King Chow Foods Corporation in 2019 until the company filed an amended General Information Sheet (GIS) covering 2019 to 2021.

“In 2019, Vice President Sara was still listed as a stockholder, but when the company submitted amended GIS filings from 2019 to 2021, she was no longer listed as a stockholder or director,” del Rosario said.

Duterte was also listed as an incorporator of SGT Fortune Horse Corporation in 2013, but its latest reports indicated that she was no longer part of the company, the witness said.

Article continues after this advertisement

“But we do not have any specific document stating that she transferred her ownership to another person,” he added.

The witness answered in the negative when Hontiveros pressed whether there was also a transfer of Duterte’s shares in the case of City Hall King Chow.

Article continues after this advertisement

“So, for these two companies, it can only be deduced from the GIS filings that she had divested from these two corporations. But as for any additional process or document that would have to be submitted to the SEC, you have not received any such document?” the senator asked again.

“That is correct. We only have the information provided in the GIS filings,” del Rosario answered.

Hontiveros went on to inquire whether there was any indication that the vice president had divested from her other alleged business interests.

“Well, if her name is no longer listed, then that would be the presumption that she is no longer involved in the company,” the witness said.

Hontiveros noted that this was only a presumption as she pressed for a document showing that Duterte had divested from her businesses.

“There is no deed or any other document stating that she transferred her ownership to another person,” del Rosario stressed.

Your subscription could not be saved. Please try again.

Your subscription has been successful.

Duterte’s alleged unexplained wealth, failure to disclose all of her and her husband’s net worth, and failure to divest from her business interests are among the allegations contained in the impeachment case against her. /mcm