Records show Duterte kept 20% stake




Records of the Securities and Exchange Commission (SEC) showed that Vice President Sara Duterte allegedly did not divest as a stakeholder in Davao City-based private firm Metro City Chow Foods Corp., despite assuming the second highest office in 2022, in violation of the Constitution.
The records were presented to the Senate impeachment court on Monday, the 27th day of Duterte’s trial.
They were attested to by SEC Company Registration and Monitoring Department director Gerardo del Rosario, one of the witnesses for Article II of the Articles of Impeachment which accuses the Vice President of acquiring unexplained wealth.
Based on the articles of incorporation filed with the SEC, Duterte was identified as an incorporator and director of the company in 2016, with an initial subscription of P50,000 for shares. Since then, she retained a 20-percent stake in the company until 2025.
SEC records showed the company had authorized capital stock of P1 million in 2016.
From 2018 to 2025, Duterte was consistently listed as a board member and served on the executive and compensation committees, according to the General Information Sheet. The period overlapped with her tenure as Vice President, which began in 2022.
According to Del Rosario, a board of directors is generally elected annually by the shareholders.
“Sir, you are a lawyer, right? It appears here that VP Sara served on the board of directors from 2022 to 2025. As a lawyer, is it permissible for the Vice President, once sworn into office, to continue serving as a member of a company’s board of directors?” private prosecutor Erwin Matib asked Del Rosario.
Defense counsel Justin Gular swiftly objected, arguing that Del Rosario was “clearly incompetent” to give such a legal interpretation.
Presiding officer Sen. Francis “Chiz” Escudero, however, overruled the objectionl.
“We have a provision in our Constitution that states that the President, Vice President, Cabinet members, and even their deputies cannot hold another office, have another employment, engage in another profession, or maintain business interests, in order to avoid a conflict of interest,” Del Rosario responded in Filipino.
The witness was referring to Article 7, Section 13 of the Constitution. The provision prohibits the officials mentioned from directly or indirectly participating in business, practicing any other profession, or holding a financial interest in any government contract, franchise, or special privilege during their tenure.
Escudero, however, pointed out the provision did not explicitly state that the said officials were barred from engaging in “business interests.”
Several senator-judges questioned Del Rosario about the SEC’s supposed failure to flag public officials who were doing business while in office. The witness replied that the SEC is not mandated to actively monitor or report government officials who register businesses while in office, noting that the process is automated.
The prosecution has accused Duterte of amassing unexplained wealth, filing inconsistent SALNs, and failing to divest her business interests as required.
It argued that these acts constitute a betrayal of public trust and are grounds for her impeachment and conviction.
A conviction carries the penalty of immediate removal from office and permanent disqualification from holding future office, which could derail Duterte’s presidential bid in 2028.