Sara Duterte impeachment trial Day 42: Loose investment, conflict of interest raised

Résumé détaillé

Vice President Sara Duterte’s loose investment in GenCorp Industries Inc., which earned her P2.14 million in income despite not being listed as the firm’s shareholder in corporate…

Vice President Sara Duterte’s loose investment in GenCorp Industries Inc., which earned her P2.14 million in income despite not being listed as the firm’s shareholder in corporate records, took center stage during Day 42 of her impeachment trial.

Lawyer Suzette Balucanag-Punay, in-house counsel of GenCorp and Metro City Chow Foods Corp., testified that this loose interest stemmed from the investment she made in Davao Bounty Times Corporation, an entity that was supposed to operate the Jollibee Times Square branch in Davao City.

Punay, however, said the subject Jollibee branch was not granted a franchise and that it opened under Great Jolly Times Food Corp., which eventually became GenCorp.

Punay’s testimony, however, did not explain why GenCorp was paying out the Vice President for her return of capital worth over P2 million from 2022 to 2025 when her investment was made to Davao Bounty Times Corporation.

Impeachment court presiding officer Senator Francis Escudero told Punay they will issue a subpoena for additional documents that would justify the legality of GenCorp’s payout to the Vice President.

Ahead of disclosing Duterte's loose interest in GenCorp, Punay said that the Vice President is not a stockholder of the company, one of her declared business interests in her Statement of Assets, Liabilities and Net Worth (SALN).

Punay said the Vice President’s name did not appear on the General Information Sheets (GIS) of GenCorp from 2022 to 2025.

Likewise, Punay said the Vice President did not receive dividends in those years since there were no dividends declared by the firm.

But upon further questioning of the senator-judges, she said that the P2.14 million was given to Duterte.

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