Witness admits VP Sara got P2-M ‘income’ from GenCorp

Vice President Sara Duterte got P2.14 million as income from GenCorp Industries Incorporated between a period of 2022 to 2025 as a means of return of capital for her prior investment in Davao Bounty Times Food Corporation, a witness said.

During the interjection of senator-judge Risa Hontiveros, GenCorp corporate counsel Atty. Suzette Balucanag-Punay answered in the affirmative when asked whether the amounts that were received by the Vice President could be described with such distinction.

“So she did get income?” Hontiveros asked in Filipino regarding the P2.14 million amount.

Balucanag-Punay responded with a prompt, “Yes."

With the admission at hand, Hontiveros proceeded to point out that she had observed a lack of dividend declaration on the part of GenCorp since it was incorporated in 2020.

The senator pointed out that it appeared that Duterte had become a “preferred shareholder” of GenCorp given the fact that she got funds in previous years, a shareholder of a company that potentially had informal and undocumented transactions.

Hontiveros likewise stressed that given the amounts that were received, it could be stated that the Vice President had financial interest in a “business”—a query that the witness also answered in the affirmative.

Referring to the prohibitions prescribed in the Constitution, she stated that it could then be interpreted that a public official having a business interest or a “loose investment”—a term used by the witness—it was a violation of the law.

“Yes, that’s from the Constitution, your Honor,” Balucanag-Punay said.

Concluding her interjection, Hontiveros maintained that regardless of the attempts of the defense to dispute the fact that Duterte had any business interest there was already an admission from the Vice President.

It is worth noting that Balucanag-Punay had earlier testified that Duterte’s name did not appear in the General Information Sheet (GIS) of GenCorp, despite the official including the company’s name in her Statement of Assets, Liabilities, and Net Worth (SALN).

Answering questions during the direct examination of the defense, the witness said that Duterte had no stockholdings in the company despite receiving the said amount.

The information regarding the return of capital was only later disclosed, with Balucanag-Punay labeling the same as “loose investment.”

GenCorp participation

Recalling the said testimonies, senator-judge Francis “Kiko” Pangilinan challenged the statement of the witness that Duterte had no participation again pointing out the fact that she received and benefited from public funds.

Confronted with the matter, Balucanag-Punay explained that as far she knew the Vice President “has no participation in the management and in the operations of the business.”

Pangilinan, however, would insist that the witness could not claim that Duterte had no role in the company given the fact that she was being given funds.

The senator, who is also a registered lawyer under the Philippine Bar, maintained that someone who receives cash from a company could become a participant through the manner of being a recipient.

“One who benefits from money is a recipient, yes” Balucanag-Punay stated.