Digital 8 Inc., the company that reportedly secured millions of pesos in government contracts while being “represented” by broadcast journalist Jay Ruiz, has a total paid-up capitalization of only P130,000, according to documents obtained by DAILY TRIBUNE from the Securities and Exchange Commission (SEC).
Digital 8 Inc.’s General Information Sheet (GIS) for 2024 showed that its initial paid-up capital of P125,000 — as of 8 January 2019, as reflected in its Amended Articles of Incorporation — increased by only P5,000 over the years.
The company, formed to “engage in the business of a full-service multimedia production company” — including producing audiovisual presentations, commercials, television films, and web-based documentaries and features — had an authorized capitalization of a mere P1 million.
Both the GIS and the Amended Articles of Incorporation confirmed Ruiz’s statement Monday that he was neither an official nor an investor in Digital 8 when it secured the government contracts revealed by online news site Politiko.
Ruiz admitted, however, that he represented Digital 8 as a media personality when the company secured a P178.5-million joint venture contract with Intercontinental Broadcasting Corp. (IBC-13) to produce and transmit PCSO lotto draws and other games.
The programs were previously aired on People’s Television Network (PTV) but have since moved to IBC-13 and D8TV, said to be operated by Digital 8 Inc. Both PTV-4 and IBC-13 are state-owned.
Digital 8 Inc. also reportedly won a separate P27.552-million contract with PCSO in December 2024 for the production and placement of digital promotional videos. Combined, these contracts totaled P206 million in government awards to Digital 8.
On Tuesday, a visibly upset Ruiz, who has yet to warm his seat as Presidential Communications Office (PCO) chief, addressed the Malacañang Press Corps, accusing his “friends,” Politiko owners Gil Cabacungan and Rey Marfil, of spreading fake news about him.
Ruiz denounced the Politiko articles, which identified him as a co-founder of Digital 8 Inc.
“First, the Digi8 contract is not mine. I’m not a stockholder or shareholder. I was just invited to represent the company as a media personality because I have the stature to do so as a spokesperson. I resigned in January,” Ruiz said.
He argued that, since the company was not his, the accusations against him were false.
“It’s fake news. If I respond to fake news, I would only give it credibility. What hurts is that I wasn’t even asked about it by those I considered friends — the owners of the news organization,” Ruiz said.
Ruiz was referring to Cabacungan, with whom he covered the Senate, and Marfil, whom he knew from his coverage of the House of Representatives.
Digital 8’s listed incorporators include two individuals with the surname Santos and three with the surname Miranda, including its present president Rommel Miranda. All of the incorporators shared the same listed residence.
The SEC document also showed that Digital 8 has a principal office on the 10th Floor of One Global Place in BGC, Taguig City. Office space at the 26-story building costs more than P250,000 per month, according to the fortbonifaciorent.com website.
The office address of Digital 8 raised questions how a company with a total capital of P130,000 was able to afford a pricey headquarters.
“The accusation is serious. They could have asked me first before publishing it online. The bigger the accusation, the bigger the fact-checking required. They could have asked me or done their research. So it’s fake news. Traditional media and social media were used to smear my reputation,” Ruiz told reporters.
“What do you want from my position? Do you have something against me? What is it? I’m trying to reform the office. I’m the fourth PCO secretary. It’s only been eight days, and already many are stabbing me in the back. My name just surfaced, barely mentioned, and they’ve already started spreading rumors and attacking me,” he said in Filipino.
On Monday, confusion arose at the PCO when Palace press officer Undersecretary Claire Castro, Ruiz’s subordinate, told reporters that Ruiz was in the process of divesting to resolve any conflict of interest, without clarifying which company she was referring to.
However, the press briefing was held in response to reports alleging Ruiz’s entanglement with Digital 8. A PCO statement later in the day denied Ruiz was an official of Digital 8.
“I have a political communication management firm. I’ve had that firm for a long time. So, there might be a possible conflict of interest, although I don’t own 25 percent (of the shares) yet. According to the law, it should be 25 percent. I need to check. My appointment was sudden — I didn’t expect or aspire to this. I have 60 days to divest, and I will do so within that period,” Ruiz said.
He was referring to the company D8TV, which sources said, is operated by Digital 8 Inc. D8TV is reportedly a free-to-air channel.
Ruiz said the accusations had affected his family, especially his 78-year-old mother, who had difficulty breathing when the controversy broke.
“And what about the security of my children and my family when they said I had amassed P200 million? They put their lives in danger. The mental stress on my wife and on me, what about that? I want to make this office open and transparent. But this time, it’s fake news. A lie told a thousand times drowns out the truth. The PCO should be the vanguard of truth,” Ruiz stressed.
The new PCO chief urged media practitioners to be responsible and fact-check information before publishing. He suggested the rumors stemmed from the reorganization he is implementing at the PCO, which has led to internal conflicts.
“Crab mentality is the worst trait in the Philippines. We should be united, helping each other, practicing bayanihan, and upholding the truth. I’m on the defensive because of fake news. I’m seriously considering filing charges because I want to clear my name and my family’s name — my mother, my sons,” he said.
“If something happens to my mom, I will never forgive them, and I will never forgive myself for accepting this job. At 50 years old, this is my last hurrah. I still believe we can change for the better. Huwag tayong talangka (Let’s not be crabs); that is wrong,” Ruiz said, emphasizing that he would not resign from his post.
However, at the end of the interview, Ruiz backpedaled and said he would not file charges against his two supposed friends.