Sara Duterte trial: She declared businesses over the years, but not value of stocks

VEEP. Vice President Sara Duterte.

Inday Sara Duterte Facebook page

Senator-judge Win Gatchalian asks the prosecution if Duterte's non-declaration of her stocks means her net worth is undervalued. The prosecution says it is possible.

AT A GLANCE

• The prosecution in Vice President Sara Duterte's impeachment trial is arguing that she failed to declare the value of her business stocks in her Statements of Assets, Liabilities, and Net Worth (SALNs) since 2007.
• Records show at least 20 businesses linked to Duterte, with questions raised about the absence of a section for acquisition costs in the SALN form, despite legal requirements to disclose such information.
• Duterte's net worth has significantly increased since she entered public office, starting at P7 million in 2007 and peaking at P98 million in 2026.

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MANILA, Philippines – The prosecution team in Vice President Sara Duterte’s impeachment trial sought to establish on Tuesday, September 15, that while new businesses kept emerging in her Statements of Assets, Liabilities, and Net Worth (SALNs) through the years, she did not declare the value of those stocks.

Office of the Ombudsman records officer Karen Batu said that as per Duterte’s SALN, she did not provide the acquisition cost of her businesses starting in 2007, when she entered public office as vice mayor of Davao City.

The impeachment court obtained the financial records of at least 20 businesses tied to the Vice President in the past two decades, including two of which she remains a stockholder as of 2025, namely Metrochow and Gencorp.

Presiding officer Chiz Escudero, however, pointed out that the SALN form does not have a specific section to specify business cost acquisitions.

“Why does this pro forma form not include a line or column for acquisition cost of businesses if that’s the requirement of the law?” Escudero asked prosecutor James Bryan Ibrahim Alih.

“Stocks are considered personal property, so it should be in the ‘personal property’ portion,” Alih answered.

Private prosecutor James Bryan Ibrahim Alih referred to Section 8 of Republic Act 6713 which states that a public official’s SALN must include every personal property and their acquisition cost, as well as all other assets such as stocks.

Senator Kiko Pangilinan appeared to echo this view by the prosecution.

“Yes, there’s no acquisition cost (column) in the business interests (table), but if personal property is considered shares, then there is an acquisition cost (column) in the personal properties (table),” Pangilinan said.

“That’s what I do too in my SALN for my law firm,” Escudero said. “I put it there in the ‘personal property’ (table),” Escudero later disclosed.

Senator-judge Win Gatchalian asked the prosecution if Duterte’s non-declaration of her stocks indicated that her declared net worth was undervalued, to which the prosecution said it was “possible.”

When Duterte entered elective office in 2007, she declared a net worth of P7 million. The following year, it more than doubled to P18 million.

Her net worth peaked at P98 million in 2026, and averaged P46 million in the 16 years she has been in government. – Rappler.com