September 21, 2026

The sergeant at arms is directed to make a proclamation.

All persons are commanded to keep silent under pain of penalty while the Impeachment Court is in session for the trial of Vice President Sara Zimmerman Duterte.

The impeachment trial of Vice President Sara Zimmerman Duterte is hereby called to order. We shall be led in prayer by Senator-Judge Risa Hontiveros.

Sa ngalan ng Ama at ng Anak, ng Espiritu Santo, Amen. Dakilang Diyos na puno ng pagmamahal at habag. Lumanapit kami sa inyo ng may pagkilala sa aming kasaysayan at sa aming mga tungkulin sa bayan. Ituro mo sa amin na ang awa at katarungan ay magkatambal. Turuan mo kaming harapin ang katotohanan ng walang pait at poot at pairali ng katarungan ng walang paghihiganti. Ngayong araw, sa aming paggunita sa mga taon ng batas militar, turuan mo kaming alalahanin ang mga ito ng may katapatan at kababaang loob. Huwag dawa naming malimutan ang mga buhay na inialay para sa bayan, ang dangal at dignidad ng mga nagdusa, at ang mga aral na iniwan nito sa ating kasaysayan. Palaliminawan nito ang aming paninindigan para sa karapatan at katarungan, para sa pagtataguyod ng makataong batas, at para sa pagsusulong ng pagkakaisa. Sa aming pagganap sa mabigat na tungkulin ngayon bilang mga senator-judges sa impeachment trial na ito, pagkalooban mo kami ng bukas na isip at kaliwanagan ng puso. Pusong malaya sa takot at pansariling interes upang suriin ang buong katapatan, ang mga ebidensa at testimonya tungo sa katarungan at katwiran. Ipaalala mo sa amin. Ang pananagutan ay hindi paghihiganti. Ang awa ay hindi kawalan ng katarungan. At ang kapangyarihan ay may kaakibat na pananagutan sa bayan. San Mateo Apostol, patro ng mga maniningil ng buwis, mga taga-tuos, at mga bangkero, sa pagdiriwang ng iyong kapistahan ngayong araw, ipanalangin at gabayan mo kami sa aming tungkulin. Amen. Sa ngalan ng Ama at ng Anak ng Espiritu Santo. Amen.

The Clerk of Court will now call the roll.

Roll call of Members.

Senator-Judge, Marcoleta, Senator-Judge, Marcos, Senator-Judge, Padilla, Senator-Judge, Pangilinan, Senator-Judge, Soto III, Senator-Judge, Tulfo Irwin, Senator-Judge, Tulfo Raffi, Senator-Judge, Villanueva, Senator-Judge, Villar Camil, Senator-Judge, Villar Marc, Senator-Judge, Zubiri, the presiding officer, Senator-Judge Escudero, the Senate President, Senator-Judge, Gachalian.

With 15 center judges present, the chair declares the presence of a quorum. In accordance with the rules of procedure on impeachment trials, the chair now recognizes the newly elected presiding officer to preside over the proceedings of the impeachment court.

Thank you, Mr. Chairman and President. We shall defer with the approval of the journal of 16 September 2026 as we are still reviewing the same. We shall approve it before we adjourn trial today. The Clerk of Court will please call the case before the Impeachment Court.

Case number 004-2026 in the matter of Impeachment Trial of Vice President Sara Zimmerman Duterte.

Appearances.

Magandang araw po, Your Honors. Same

appearances. Good morning, Honorable Ridon. Appearances for the Respondent.

Good morning, Your Honors. Same appearance for the Respondent Accused.

We are in receipt of a motion filed late Not late, about 8 p.m. last night. Would you care to discuss, Honorable Ridon?

Tama po iyon, Your Honors. Meron pong manifestation ang prosecution na hindi na po isasalang si Atty. Ariel Ronquillo, Assistant Commissioner of the Civil Service Commission, bilang testigo ngayon pong araw na ito, partikular dahil nasapatan na po kami doon sa testimonya ni Justice Amparo Cabotaje-Tang at Atty. Karen Batu ng Office of the Ombudsman, doon po sa mga partikular na aspeto na tatalakayin po ni Atty. Ronquillo. So, in the interest of expediting the proceedings, at siyempre dahil gusto po namin na talagang mapabilis po ang kabuuang proseso po na ito, we have decided to dispense with

And instead, we will proceed with presenting Atty. Gerardo F. del Rosario of the Securities and Exchange Commission bilang amin pong unang testigo sa araw po na ito. Any comment, Atty. Sheila?

Not at this point, Your Honor, but we confirm receipt of... This is not a motion, Your Honor. It's a manifestation. We confirmed receipt of this manifestation from the prosecution last night at 8.36pm, Your Honor.

Roughly the same time we received it. So, Honorable Ridon, you are dispensing with Attorney Ronquillo and will proceed to present Attorney Gerardo Del Rosario of the SEC.

Tama po yan, Your Honor.

And who will be handling his presentation?

Attorney Matib, one

of the... You can call on him already. Attorney Sheila, who will handle the cross and the direct of the prosecutor?

It will be Attorney Justin Nicol B. Gular, Your Honor.

Yes, Your Honor. But before presenting the SEC witness, we thank the CSC witness and we ask that he be excused. Okay. Is Attorney

Ronquillo here?

I think he is in the premises.

Kindly inform, the Clerk of Court is instructed to kindly inform Attorney Ronquillo that he is excused, that he will no longer be called, and kindly convey the Court's thanks and appreciation for his attendance this morning, nevertheless.

Before proceeding to the SEC witness, another manifestation, Your Honor, relating to the PhilGEPS witness, Rendell Sopeña. He had just received his subpoena for the documents last Friday, September 18th, at hindi pa po niya nakokompleto ang pagkukuha po ng lahat ng mga dokumento na gagamitin para sa kanya pong testimonya. We are asking that he be excused today, but he will be presented tomorrow, September 22nd, Tuesday. Who is this again? What's the name? The PhilGEPS witness po, Rendell Sopeña. Okay.

Rendell Sopeña.

Rendell Sopeña. Okay.

So for today, we only have Attorney Del Rosario.

That is correct, Your Honor. Okay.

What's the name of, who will present the witness again, Counsel? Attorney

Erwin Matib,

Your Honor, member of the panel of prosecutors. Okay. Attorney Erwin, you

may proceed to call your next witness, Attorney Erwin, on behalf of the prosecutors. And on the part of the respondent, Attorney Justin. Thank you, Your Honor. I pronounced that correctly today, yeah?

Yes. Thank you, Your

Honor. Yes, appreciated.

Good

morning, Your Honors. For the record, I am Atty. Erwin Matib, counsel for the panel of prosecutors.

May I proceed to call our witness for today, Your Honor?

Kindly call your witness, Atty. Erwin.

We are calling to the witness stand the third witness for Article 2, Atty. Gerardo F. Del Rosario from the Securities and Exchange Commission.

The Clerk of Court, through the OSAA, is instructed to situate and assist Attorney Del Rosario to the witness stand.

And before he sits down, to administer the oath to the witness.

Right hand.

You, Gerardo F. del Rosario, do swear that the evidence you shall give in the case now pending between the Philippines and Vice President Sara Zimmerman Duterte shall be the truth, the whole truth, and nothing but the truth. So help me God.

Yes, sir.

Atty. del Rosario, naunawaan ninyo po ang pinanumpaan ninyo kaugnay ng inyong pagtestigo sa umagang ito?

Naunawaan ko po.

Salamat. Your witness, Atty. Erwin, you may proceed with your direct whenever you are ready.

Your Honor, considering the volume of the exhibits, numbering around more than 200, consisting of more than 3,000 pages, may we ask for a table near the witness so we can lay down our exhibits, Your Honor?

Magandang araw sa inyong lahat. Ang testimonya ni Atty. Gerardo F. Del Rosario ay magpapatunay ng mga sumusunod. Una, Ang vicepresidente at ang kanyang asawa na si Atty. Manassas R. Carpio ay may pag-aaring mga kumpanya o negosyo. Kabilang sa mga kumpanyang ito ay ang mga sumusunod. City Hall King Chow Foods Corporation Metro City Chow Foods Corporation GenCorp Industries Inc. CALE88 Foods Corporation Mati City Ice Plant and Cold Storage Geometry, Security and Investigation Agency, Inc., Great Jolly Times Food Corporation, Times Square Bee Foods Corporation,

Davao New Royal Taipan Foods Corporation, Davao Emerging Taipans Corporation, Free Kids Trucking Services, Inc., CYKNP Davao Corporation, SGT Fortune Horse Corporation, Davao Bounty Times Food Corporation, Madayaw Fisheries, Inc., Amianan Shores, Inc., Cable II, 88 Shipping and Marine Services, Inc., at Carpio Lawyers. Pangalawa, may mga shares of stock at interest si na Vice President Sara Z. Duterte at ang kanyang asawa na si Atty. Manassas Carpio sa mga kumpanya. Ang halaga ng mga shares of stock at iba pang interest sa mga kumpanya ay dapat i-declare sa SALN.

Pangatlo, base sa mga authentic records ng Securities and Exchange Commission at ng mga kumpanya, papatunayan kung magkano ang kinita ng mga kumpanyang ito at kung may dividends bang dineklara o ipinamahagi sa kanilang mga stockholders. Importante ito dahil gusto nating makita kung ang mga kumpanyang ito ay talagang may naibigay na lahitimong income kay VP Sara Duterte na maaaring makatulong magpaliwanag sa paglaki ng kanyang declared net worth. Ngunit batay sa records na ipapakita, wala o zero ang dividends para kay VP Sara at Atty. Manassas Carpio sa mga kumpanyang ito.

Pang-apat, ipapakita ng witness ang sariling filings ng mga korporasyon sa SEC? kabilang na ang articles of incorporation or partnership, general information sheets, at iba pang corporate records. Makikita rito kung sino ang incorporators, stockholders, directors, at officers ng bawat korporasyon. At mahalaga, makikita rin kung sa mga panahong Vice President na si Sara Duterte, nakalista pa rin ang kanyang pangalan at interest sa ilang korporasyon. Ito... ay malinaw na paglabag ng konstitusyon.

Panglima, ang ilan sa mga kumpanya ni Vice President ay nagreport ng malalaking sales sa mga panahong siya ay Vice President. Isa na sa nagtala ng malalaking sales ay ang GenCorp Industries, Inc. Itong GenCorp Industries ay may kaugnayan kay Vice President, hindi lang dahil ito ay kanyang dineklara sa kanyang SALN. Ang GenCorp Industries at iba pang mga kumpanya ni Vice President ay may mga interlocking shareholders, directors at officers. Isa na dito ay si Jaime T. Cruz. At ang pangalan ni Jaime T. Cruz ay paulit-ulit na lumalabas sa mga SEC documents.

That's it for

the offer of testimony, Your

Honor.

Comment, Atty. Justin?

Just a few comments, Your Honor, with respect to purpose number one. We would like to object to this as there is a conclusion of ownership, Your Honor. As to purpose number two, Your Honor, and purpose number four, Your Honor, there are conclusions of law again coming from the prosecution. And number five, the mention of this person, Jaime T. Cruz, and the fact that there is an interlocking positions, allegedly, is also irrelevant. Conclusions of Law, Your Honor. Nevertheless, Your Honor, everything is subject to cross-examination.

Duly noted. Atty. Erwin, you may proceed with your direct examination. Thank

you, Your Honor. Just a quick manifestation before I begin with my questions, Your Honor.

You may proceed, sir.

Thank you. Mr. Presiding Officer and dear Senator-judges, before I begin, I'd like to respectfully beg for the indulgence of the Honorable Impeachment Court. and the Senator-Judges to kindly be patient with my line of questioning for this witness today. As much as I believe that all of the Senator-Judges are well-versed in the technical terms that we will be using today, the viewing public may not be as well-versed. Marami po sa mga terminologies na itidiscussed today. Maaaring first time po marinig ng mga manonood na tulad ng mga dividends, retained earnings, shareholdings, board of directors. So konting pagpapasensya lang po. Kapag nalagpasan po natin yung pag-discuss ng mga terminologies na ito, sa tingin ko po, bibilis ang ating presentation at maaaring hindi ko na isa-isahin pang i-discuss o magtanong tungkol sa bawat kumpanya na na-enumerate kanina.

We will let you know when we're getting impatient, counsel. Please proceed. Thank you, Your Honor.

Good morning, Atty. Del Rosario.

Magandang umaga po sa lahat. Magandang umaga po.

Kumusta po kayo ngayong araw na ito?

Maayos naman po.

Okay, so please make yourself comfortable. Meron pong tubig dyan. Kung kailangan nyo po minom, minom lang po kayo. Salamat po. So, okay. So, Atty. Del Rosario, pakilahad nga po ang inyong kumpletong pangalan, office address, at ang inyong kasalukuyang trabaho.

Ako po si Gerardo Fernando del Rosario, isang director, nakatalagang director ng Company Registration and Monitoring Department ng SEC, or the Securities and Exchange Commission, na may opisina sa 7907 Makati Avenue, Barangay Bel-Air, Makati City.

At ano naman po ang inyong educational background?

Nagtapos po ako sa kursong BS Commerce, Major in Finance sa Manuel L. Quezon University. Matapos po noon na nagpatuloy po ako mag-aral at nakapagtapos din po ako ng Bachelor of Laws sa nasabing universidad. At noong 1995 po, ako po ay ganap na naging abogado.

Nabanggit niyo po na director kayo ng Company Registration and Monitoring Department or CRMD. Gaano na po kayo katagal na director ng CRMD?

Nagsimula po ako naging director ng CRMD noong October 2018. Mahigit 7 taon na po.

Bago po ng 2018, ano po ang inyong trabaho kung mayroon man?

Nagsimula po ako sa SEC noong May 8, 1996 bilang Attorney III at nagpatuloy ako hanggang sa umabot ako sa posisyong Chief Counsel, naging Assistant Director, at noong 2016 po naging Director po ako ng Human Resources and Administrative Department; at noong 2018 na talaga po akong Director ng CRMD, or Company Registration and Monitoring Department.

At hanggang ngayon po ba abogado pa rin kayo? Opo, abogado pa rin po. Okay, salamat po. Nabanggit niyo po kanina itong Securities and Exchange Commission. Ano po itong Securities and Exchange Commission o SEC?

Ang SEC po o Securities and Exchange Commission ay ang isang ahensya ng gobyerno na ang layunin ay improve ang ating capital market. Magbigay ng proteksyon sa pamigitan ng mga patakaran, regulasyon upang bigyan ng proteksyon ang mga investing public sa capital market. At isa pang mahaligang mandato po nito ay yung pag-regulate ng mga corporations. Sa amin din po, inaaprobahan ang pagtatayo ng mga kumpanya, pagbibigyan ng lisensya sa mga dayuhang mamumuhunan.

Kanina po nabanggit ninyo na director kayo ng Company Registration and Monitoring Department, or CRMD. Ano po ba itong CRMD?

Ang Company Registration and Monitoring Department po ay isang sangay ng SEC na ang mga mandato po ay ginagampanan ng limang divisyon. Una meron po kami tinatawag na Corporation and Partnership Registration Division. Ito po ang nag-pro-proseso, nag-review ng mga application. Corp, Partnership, maging ang mga pagsususog ng mga bylaws nito ng mga domestic corporations. Meron din po kami ang tinatawag na Foreign Investment Registration Station. Siya naman po ang nag-a-handle ng registration o amendments ng mga foreign companies. Nagbibigay po ng lisensya para makapagtayo ng branch offices, representative offices, regional operating headquarters. Meron din po kaming tinatawag na compliance monitoring department na ang trabaho po nito ay suriin ang mga reportoral compliance ng bawat kumpanya. Sila po ang nagche-check ng pag-submit ng mga financial statement maging ng general information sheet. Meron din po kaming divisyon ang pangalan ay corporate and legal adjudication division na ang mandato

po nito ay

Pagdinig ng mga kasong administratibo laban sa mga kumpanya. At yung panghuli po ay yung tinatawag na corporate filings and records division. Siya po ang may kostriya at nag-iingat ng mga corporate records ng mga kumpanya.

At ano naman po ang inyong mga tungkulin bilang director nitong company registration and monitoring department?

Ako po ang nangunguna sa pag... Pag-manage ng mga araw-araw na gawain ng aming departamento, ipatupad ang anumang tungtuning pinalabas ng aming management ng aming Commission and Bank, gumawa ng estrategiya upang ang mga layuning pinag-utas ng Commission and Bank ay mangyari sa aking departamento.

Sa pagganap po ng inyong mga tungkulin bilang director nitong Company Registration and Monitoring Department. Anong mga batas at regulasyon ang inyong karaniwang pinapatupad?

Una po ang Revised Corporation Code.

Pangalawa ang SRC or the Securities Regulation Code. Kami rin po nagpapatabad ng Retail Trade Law maging ang Omnibus Investment Code. Well, portion po ng Civil Code tungkol po sa pagtatayo ng partnership. Kabe rin po ang nagpapatapad ng Investment Company Act, Financing Company Act, Lending Company Regulation Act po. Maging ang pagpapatapad

po ng Ease of

Doing Law, Ease of Doing Business Law, Anti-Dummy Law, Education Act.

2000. Yun po ay mga batas na pinapatupad namin.

Okay, salamat po. Napakaraming batas po. Yung nabanggit ninyo, balikan po natin yan mamaya. Sir, bakit po kayo andito ngayon? Araw na to sa impeachment court?

Nakatanggap po ako ng subpoena na ako dapat ay umatend at magbigay ng pahayag sa usaping ito.

Tungkol saan po itong usaping ito? Sa impeachment po ni Vice President Sara

Duterte. So nakatanggap po kayo ng sapina tungkol sa usapin ng impeachment ni Vice President Sara Z. Duterte. Bago po kayo makatanggap ng sapina... Anong mga requests po kung mayroon man ang natanggap ninyo na may kinalaman sa impeachment ni VP Sara Duterte?

Isa naman pong liham, galing din po sa—permado ni Honorable Jervel Beatrix Luistro—na inaatasan po kami magbigay ng certified copies ng mga dokumento ng kumpanya na nakasaad doon. Ito po ay June 16.

Dalawang sulat po. Parho pong inasign sa akin ng aming management na gampanan.

Okay, thank you. So nabanggit niyo po itong June 16 na letter.

na nagre-request ng mga certified true copies at in-assign po ito sa inyo. Ano po ang ginawa ninyo pagkatapos na ma-assign sa inyo itong request for certified true copies?

Your Honor, before the witness answers, the defense would just like to manifest for the record that the documents earlier identified by the witness are not marked, Your Honor. Just for the record.

Noted.

Can we proceed, Attorney Ern?

Matapos ko pong matanggap yung sulat na ito, Aking din po siyang in-assign sa aming CFRD na siyang may kustadya ng mga records ng aming tanggapan. Hinanap po nila yung mga subject na documents. Print nila at sinertify po nila. Matapos po nito ay sinabit po namin to sa aming license office, sa Office of General Counsel na siya na pong nag-transmit sa House of Representatives.

Ano pong mga klaseng dokumento itong mga sinertify ninyo at rinansmit?

Yung mga dokumento po na para sa Metro City Chow Food Corporations, kasama na po yung Articles of Incorporation, kung meron siyang amendments, general permission sheet mula nang ito ay matatag hanggang sa ano pong available pinakakaret, ganun din po ang financial statement. Yung City Hall King Chow Foods Corporation, ganun din po, Articles of Incorporation, amendments, GIS and financial statement. Gencorp Industries, Times Square B Foods Corporation, Great Jolly Times Food Corporation,

Carpe Lawyers,

Cali 88 Foods Corporation, Madayo Fisheries Inc., Mati Ice Plant and Cold Storage, Amayana Shores Geometry Security and Investigation Agency, Cabletow 88 Shipping and Marine Services Inc., Dabao New Royal Taipan Corporation, Dabao Emergent Taipan Corporation, Dabao Bounty Times Food Corporation, SGT Fortune Horse Corporation, CYKT Inc., Three Kids Trucking Services Inc., Pikimong Pikimong Philippines Corporation,

JTC Group of Companies, Celta Matiem Salon, Madayo Fisheries Corporation. Yung pong mga articles of incorporation nito, kung may amendments man, ang GIS at financial statement.

Okay, nabanggit niyo po napakaraming dokumento. Kung ipapakita po ba sa inyo itong mga certified through copies ng mga documents na klinansmit ninyo na nabanggit mo kanina, ma-identify mo ba itong mga documents na ito?

Opo, makikilala ko po.

Your Honor, assisting me today is attorney Tricia Sun. May she be allowed to hand documents to the witness for the witness to identify, Your Honor?

So authorized as well as counterpart assisting counsel from the respondent.

Your Honor, I will be having the identification by batches and for the first batch, Your Honor, these are certificates of corporate filing slash information, certificates of incorporation. Articles of incorporation and bylaws. Articles of partnership previously marked as exhibits P-R2-2-1-A to P-R2-2-1-U. So sir, pakitignan po itong mga documents na ito and isama niyo na rin po sa pagtingin iyong last leaf ng bawat document kasi sa likod po ng last leaf, meron pong malaking tatap. ng Securities and Exchange Commission at may lumalabas po na pangalan ni R.J. Bernal at may pirmapaki. Check po yung pages din na yun sa inyong pagtingin ng documents.

So

nakita niyo po yung mga documents sir. So ito po bang mga documents na ipinakita sa inyo ay kasama sa mga documents na sinertify ng inyong opisina at rinansmit sa public prosecutors?

Yung una pong pinakita sa akin ay kasama po sa mga dokumentong ipidala namin.

Okay. And nakita niyo po yung likod ng last leaf or yung last page ng bawat exhibit. May pangalan po dyan si R.J. Bernal at may pirma. Kanino pong pirma yung nasa taas ng pangalan ni R.J. Bernal?

Yan po ay lagda ni Atty. R.J. Bernal.

At paano po kayo naging pamilyar sa kanyang signature?

Una po si Atty. R.J. Bernal po ay isang nakatalaga sa aking departamento, sa CFRD po. Siya po ang binigay namin ng otorizasyon na pumirma ng mga dokumentong isa-certify ng aming tanggapan.

Okay, thank you. Your Honor, considering that we have more than 200 exhibits consisting of More than 3,000 pages perhaps to expedite the proceedings.

We'd like to make stipulations, Your Honor, and I hope the defense will agree that all the copies are certified through copies. And just to manifest, Your Honor, during the preliminary conference, the documents were shown to them and they stipulated that these are all certified through copies so that we can dispense with the authentication and identification of

May

I respond, Your Honor?

You may do so, Attorney Justin.

Yes, Your Honor. Before we stipulate, Your Honor, we would like first to object to the identification and authentication of the witness of corporate documents belonging to Pikimong-Pikimong Philippines and JTC Group of Companies, Your Honor. I believe, Your Honor, and the Presiding Officer can recall, these were in fact excluded. When the prosecution requested for subpoenas of bank records and AMLC records pertaining to these documents, Your Honor. And the ruling of the presiding officer is that they are irrelevant as there is no established connection between the respondent and these corporations, Your Honor. Now in today's trial, the prosecution is seeking the witness to identify and authenticate precisely corporate documents presiding. belonging from these two corporations, Your Honor. We therefore object to the testimonial evidence on the identification of these documents and of course at the proper time on the admission of these documentary exhibits, Your Honor. For the rest of the corporations, Your Honor, we do agree with the prosecution that to abbreviate the proceedings the defense is willing to stipulate that the witness can identify these and that these are records from the Securities and Exchange Commission. That would be all, Your Honor.

What's the second company, counsel?

JTC group of companies. JTC. So it's Pikimon,

Pikimon, and JTC. That would be correct.

Atty.

Erwin?

Thank you, Your Honor. Can I reply? Yes. Your Honor, although the bank records, AMLA records, and the BIR records of the two companies that were just named were disallowed,

In connection with our request for subpoena, Your Honor, we'd like to establish the connection between the Vice President and these two companies through the testimony of this witness. So the objection is actually premature. Ipapakita po namin sa pagtatanong mamaya na may kaugnayan po, may relationship po itong mga kumpanyang ito sa iba pang kumpanya.

Your Honor, if I may briefly respond. Yes,

Attorney Justin.

Number one, these companies were not indicated nor alleged in the articles of impeachment, which constitutes as the information in this impeachment trial. But secondly, Your Honor, we think for consistency's sake, this honorable court and the presiding officer has already ruled in the matter. And there is no distinction between bank records belonging to this corporation or corporate records. belonging to these corporations. Particularly, Your Honor, we would like to refer this court to its ruling that it already made in its July 20, 2026 ruling room.

Any rebuttal, Atty. Rin, before I make my ruling?

Your Honor, we should not be limited by the pieces of evidence that were mentioned in the articles. Ilang beses na po na pinayagan ng impeachment court na magpresinta kami ng mga ebidensyang. Hindi naman nabanggit sa articles, basta't may ito po ay may kinalaman sa mga charges. So again, Your Honor, through the testimony of this witness, ilalabas po namin yung connection ng JTC Group of Companies at Pikimong Pikimong, yung connection ng mga ito sa iba pang kumpanya na may kinalaman si VP Sara.

While I may agree with you that you don't need to allege it in the Impeachment Complaint Council, share is constrained to sustain the objection of counsel for respondent given that it is not one of the documents subpoenaed by the court. Actually, you don't need this witness to establish a link. You can simply allege and attach any proof you have. pertaining to the Vice President's connection with these two corporations in your request for subpoena. And we will, if at all it is presented and shown, we will allow it. If I remember correctly, the Court's ruling was unless you show a connection of the Vice President with these two corporations given that the GIS does not contain her name nor her spouse's name in the GIS. However, you are also aware of a ruling of the Court That mere mention or absence of a mention in the JIS does not necessarily mean that she is or she is not a part of that corporation. So kindly show an attached proof in your request for subpoena and the court will allow the subpoena to be issued. And we can easily recall this witness at that time should the two corporations still be relevant. But in the meantime... The Court sustains the objection of Atty. Justin, kindly exclude the two corporations from the presentation and identification of the witness in regard to Picaymon, Picaymon, and JTC. However, the Court also notes the stipulation. Correct, Atty. Justin? That

is correct, Your Honor, for the rest of the other corporations.

With respect to the other corporations and the fact that the documents the witness will be testifying are indeed certified through copies of the submissions that their office has in the records. Ordered.

Maraming salamat, Your Honor.

Can we proceed, Attorney Erwin?

Yes, Your Honor. Just for the record, Your Honor, yung second batch po sana na ipapa-identify namin ay ang mga general information sheets marked as the prosecution's exhibit P-Roman numeral 2-2-4-1-B hanggang P-Roman numeral 2-2-4-15-A. And for the third batch, Your Honor, ito po ay ang mga financial statements marked as the prosecution's exhibit P-Roman numeral 2-2-6-1-A to P-Roman numeral 2-2-6-13-A.

Just for the record, Your Honor.

Your Honor, just an administrative matter. May we just request the counsel for the prosecution considering the ruling of this court? excluding documents in relation to Pikimong, Pikimong Philippines, and JTC Group to manifest for the record the particular markings of these documents so that the records are clear that these should not be included in the testimony of the witness for purposes of identification. Just for the clarity of RTSN, Ron.

I'm looking for it as well, counsel. Thank you, Ron.

Do you have it with you, Atty. Irwin? I have JTC but I do not have the Pikimong-Pikimong.

For the list, Your Honor, of documents pertaining to JTC

and Pikimong. So

for the Certificate of Incorporation, Articles of Incorporation and Bylaws of JTC Group of Companies, Philippines Incorporated, the marking is P-R2-2-1-S.

Certificate of amended Articles of Incorporation of JTC Group of Companies. It's Exhibit P-R2-2-1-S-1. For the Certificate of Incorporation, Articles of Incorporation and Bylaws of Pikimong-Pikimong Philippines Corporation, it's Exhibit P-R2-2-1-T.

For the certificate of incorporation, articles of incorporation, and bylaws of... Ah, sorry. Okay, that's for the articles of these two companies.

For

the general information sheets of JTC group of companies, these are Exhibit P-Roman numeral 2-2-4-14-A up to... up

to...

Up to 14P. Yes, Your Honor. Correct.

And the subsequent one.

Yes, Your Honor. For the general information sheets of Pikimong-Pikimong Philippines Corporation, these were marked as exhibits P-Roman numeral 2-2-4-15A. Oh,

that's it. Only one general information sheet for Pikimong. For the audited financial statements,

The beneficial ownership first.

Your Honor, we did not include the beneficial ownership forms, Your Honor. Ah,

you didn't include it? Yes, Your Honor. Although

it

is a pre

-marked exhibit.

Yes, of course.

I don't think, we did not have it identified, Your Honor, by the witness for the beneficial ownership form. Okay. So for the audited financial statements, for

JTC Group of Companies, audited financial statements, The exhibits are P-Roman numeral 2-2-6-12-A up

to... M. Ano? N. No. O. No. P. Up to P. P or Honor,

correct.

And there's only one audited financial statement for Pikimong-Pikimong Philippines Corporation and this is exhibit P-Roman numeral 2-2-6-13-A. Okay.

Duly noted. Thank you, Your Honor. And thank you as well to the counsel. Please proceed,

Atty. Ervin. Your witness.

Atty. Del Rosario, kumusta po kayo dyan? Okay pa po ba kayo?

Ayos pa po.

Okay. So tuloy po natin.

Kanina po nabanggit niyo na may natanggap kayo na sapina para umatin ngayong araw na ito.

Pagkatapos niyo po nabanggit niyo kanina na bago kayo... Sa PINA, may natanggap kayong dalawang request letter. Pagkatapos naman po, nung pagkatanggap nyo nung sa PINA, ano pa pong mga request letter ang natanggap ninyo kung mayroon man?

Mayroon po akong natanggap na sub-PINA sa pechang na ako po ay inaatasang dumalo sa usaping ito, sa impeachment case na ito, sa

pechang September

14, 19, and 16. Yun po yung una subpoena na natanggap ko.

Nung natanggap ko po ito, meron po akong natanggap nung... Natanggap ko po ito nung September 10, yung subpoena. Nung September 11 po, may natanggap din po akong panibagong sulat na

humihingi po, nag-request sa akin na sulat

na may pesyang September 10 na natanggap namin ng September 11.

Sulat po galing sa...

Permado po ni Honorable Jervel Beatrix Luistro na nire-request po na gumawa ako ng pagbubuod o summary ng mga kumpanyang nabanggit dito para po siguro mapadali ang pagsagot ko sa mga katanungan tungkol sa mga dokumento, at ginawa ko po yung kahilingan ito ni Congresswoman Beatrix.

Clarification lang, ano po yung ni-request dyan?

Nagawin ninyo? Ito, babasahin ko po.

Dear Attorney Lozario, we write as the panel of prosecutors of the House of Representatives for the impeachment trial of Honorable Vice President Sara Zimmerman Duterte. In anticipation of your appearance next week, we believe that the preparation of a summary will not only aid you in giving clear and concise testimony, but also guide the senator-judges as well as the viewing public As you give your testimony before the impeachment court, hence a summary of each corporation's entity which contains information which you may find relevant from all the articles of incorporation and GIS as well as audited financial statement you submitted to the House of Representatives as regards to this case is respectfully requested. Yun po yung nilalaman ng sulat.

So ano pong ginawa ninyo pagkatapos matanggap yung sulat na yan?

Well, nag-talaga po ako ng ilang empleyado ng aking opisina para gumawa nga po ng pagsasummarize o pagbabuod ng mga informasyon na makikita sa Articles of Incorporation, sa mga GIS na sinabit ng mga korporasyon at sa mga audited financial statement.

At nasaan po itong summary na ito?

Meron po akong summary na dala, paper copy po at naggawa na rin po ako ng electronic copy.

Kasama na rin po rito yung transmitted letter ko punta po kay Congresswoman Betips.

Your Honor, may we be allowed to see the copies of the summaries that were produced by the witness, Your Honor?

Were you the one that prepared that, Atty. Del Rosario?

Kasama po ako sa nag-prepare ng dokumentong ito.

Is that an identified exhibit, counsel? Not yet.

Not yet. We reserve the...

Meron po.

Keep one for yourself, Atty. Del Rosario. May kopya pa ba kayo? Meron

pa

po. Okay.

For the record, copies of the table and or summary prepared by the witness together with his other office staff are being furnished counsels for the parties.

Atty. Del Rosario, dito po sa summary na ginawa ninyo, may kasama pong transmittal letter na may pangalang Atty. Gerardo F. Del Rosario. Kanina po yung pirma sa taas ng pangalan na ito? Pirma ko po yan. Salamat po.

Your Honor, apologies for just interrupting. May we also request for the copy of the letter that was purportedly sent by the lead prosecutor to the SEC. I believe what I only received upon inspection is only the summary, Your Honor.

Do you have an extra copy, Atty. Del Rosario?

Nung pong liham na nanggaling po kay Congresswoman Beatrix, meron po ito po.

May extra copy po kayo? Oo.

Isa lang po itong letter niya. Pero pwede naman po itong copy.

We'll have it reproduced. The Clerk of Court is instructed to kindly obtain a copy and have it reproduced. In the meantime, Atty. Irwin, can you move?

Let's allow Atty. Irwin to proceed, Atty. Justin. Pardon for

the interruption, Your Honor. Just a slight administrative

matter. Yes. Kindly give it to the... What's that?

Kindly reproduce two copies.

Thank you, Your Honor. And pardon for the request.

Attorney Del Rosario, meron po ba kayong electronic copy nitong summary na ito?

Nagdala rin po ako.

Your Honor, may we request that the electronic copy be sent to the technical booth, Your Honor, so that we will be able to show the summaries on the screen for all the senator-judges to see, Your Honor.

You may do so, Counsel.

Thank you, Your Honor. And just to manifest, Your Honor,

summaries are allowed under the rules of court to expedite the presentation of the testimony of this witness and the court has consistently allowed the use of summaries. So I hope, Your Honor, we will be allowed to use this summary to shorten and expedite the presentation of the testimony of this witness, Your Honor.

Before the flashing of these electronic documents, Your Honor, The summaries that were purportedly prepared by the Securities and Exchange Commission were just received by the defense in today's proceeding, Your Honor. And a quick perusal of the documents already shows some misrepresentation, Your Honor. For example, the summary is labeled as Summary of Vice President Sara Duterte Shareholdings, but it then appears in the summary, Authorized Capital Stock, Amount Subscribed, Amount Paid Up by the Corporations. Not by the Vice President. And this is precisely why we need to object, Your Honor. Clearly, this is again an attempt, and apologies to use the term, to condition the mind of the public over these figures that will be flashed, Your Honor. But secondly, Your Honor, of course, the more important consideration here from the defense is the fact that we haven't even perused the accuracy of these summaries, Your Honor. While we agree that there is leeway for summaries, we haven't reviewed the accuracy. The point of the defense being is simple, Your Honor. The witness already identified general information sheets, audited financial statements, and incorporation documents. We could rely on the figures present in these documents and they could easily flash these documents and the contents thereof if they want to refer to them, Your Honor.

All these matters, Atty. Justin, will be subject to your cross. And if you need time, Atty. Justin, to prepare for your cross given that you just received a copy of this summary. We will afford you that time.

We can do that after lunch if you want or even the following day. So you can adequately prepare for your cross if at all. And Attorney Irwin, you are reminded to kindly so explain that the authorized capital stock does not automatically reflect the shareholding solely of the Vice President and or her spouse in that company. but is the authorized capital stock of the entire company. Will you be segregating her share in the company for each one?

Your Honor, that is precisely our concern with the summaries because there is no distinction being made and this will clearly mislead the public from even understanding or construing that the numbers appearing on these summaries belong to the Vice President when we surely understand they do not. That is precisely the core of our objection your honor. Now if they want to refer to the shareholders

Your Honor, I will have to cite, for example, a summary of the general information sheet. It merely states company's total subscribed amount, amount paid up, and these are Millions, Your Honor, and this can easily be ascribed to the Vice President when we understand these are not. This is unfair, Your Honor, and this shouldn't be done to the Vice President, particularly in this proceeding. The request coming from the defense is simple. If we want to identify portions relevant to the Vice President, we refer to the particular document where the name and the interest, whatever it may be, appears in relation to the Vice President. The certified copies as admitted by the prosecution is here, Your Honor.

Brief reply,

Attorney Erwin,

Before I make a ruling.

Yes, Your Honor. I'm looking at the summary now. Meron pong specific columns para kay Vice President Sara Duterte. Meron pong separate column para sa company total. Malinaw naman po dito na

If it so

shows, then the court will allow it. Take a look at it, Attorney Justin, first, because I don't have a copy. Let's take a look at the first slide of the prosecutor.

Understood, Your Honor. But at this point, we are constrained to record our continuing objection. The

continuing objection of the respondent is duly noted and entered into the records. Kindly proceed, counsel. Again, subject to that qualification, kindly begin with your slide, and I want to see it as well.

We are just waiting for the tech booth, Your Honor, to flash the... Summaries on the screen.

And by the way, I hope it's not too late, but I heard that there was an accusation na meron po kaming ginagawang misrepresentation, Your Honor. So we move to strike out that statement made by Attorney Gular earlier, Your Honor.

We will check the record, counsel. We'll look at it. Kindly check the PSN.

Attorney Del Rosario, ilang kopya po yung dinalan ninyo nitong summary na ito? Hard copies?

Your Honor,

may we ask that the copies be reproduced, Your Honor, so that these can be handed to the Senator-Judges, Your Honor.

Can you go back first to the first slide? Showing the authorized, okay. The first slide, yes.

Senator-Judge Panglinan, forgive me, I was looking at the chart. Yes, what is your pleasure, sir?

Just a request perhaps moving forward. If there is an anticipation of such documents in the next trial dates that they prepare beforehand rather than have it distributed here or reproduced here before it's distributed. Just a request, Mr. President. They may or may not accede to the request, but it will really help facilitate things if These copies are prepared beforehand rather than while we're doing the trial. The

The parties are so ordered by the Court. If you have an advance copy of any tables or summaries to be presented, kindly furnish the other party as well as the Court ahead of time so that we can go over it, especially given the fact that it is not a pre-marked exhibit by any of the parties. Atty. del Rosario, when did you prepare this summary with your staff?

Ah, matapos ko pong matanggap 'yung, ah, 'yung request, ginawa na po namin agad.

Kailan po niyo natapos?

Natapos ko po siyang

i-review nung, ah, Lunes. Ah, nung ako po ay

pinayagang hindi na

itong nakaraang Lunes lang po. Opo. Nung ako po'y pinayagang umuwi na muna dahil po yata ako may mapapa-testify. Yun ko po natapos kong reviewhin lahat ito.

So

that would be September 14. Would that be correct?

Opo. Tama po.

the parties are so directed and ordered. If you have an advance copy to kindly furnish the other party as well as the court and the senator-judges. Your

Honor, I was just informed that the staff of Attorney Del Rosario brought extra copies. and which may be distributed, Your Honor. I

think the point of Senator-Judge Pangilinan is for us to be able to see the copies ahead of time before the witness is presented even for opposing counsel so that we can look at it already. Yes, Your Honor. Given what is being shown that it does specify the authorized capital stock of the company itself with a separate column for the Vice President's holdings and or the amount subscribed, paid up, and percentage of ownership, the court will allow the presentation through the screen.

Yes, Your Honor, but a manifestation. You

may proceed, Attorney Justin.

Thank you, Your Honor. If you look at the second page of the summary, which is just the page I am able to peruse now.

Okay, kindly proceed to the second page. I was only referring to the first page. Yes, Your Honor.

We understand, Your Honor. Thank you.

Are you there yet? Are you still on this page, Attorney Erwin?

I think they are in that direction your honor as this pertain to audited financial statements. Our only concern your honor for the record is the audited financial statement is made to appear as if these are the figures here belong to the vice president when these in fact belong to the corporation because at the top portion of the page it says summary of vice president Sara Duterte's shareholdings your honor. But these reports do not belong to the Vice President, Your Honor. These are financial statements of the corporation. Of

the corporation. With that clarification, yes, you can make that a subject matter of your cross, Attorney Justin. Thank you, Your Honor. We'd just like to put that

on the record, Your Honor, for the clarity and the listening public.

Duly noted. What is the pleasure of Senator-Judge Alan Peter Cayetano?

Good morning,

Mr. Presiding Officer, Senate, dear colleagues. Sir President, just taking note of the defense counsel's manifestation, what is essential in this trial is fairness. So if we're going to spend the whole morning, afternoon, looking at these documents, tapos mali yung label, it will prejudice, of course, the defense and the vice president. Diba? So if it is a summary of X or Y, The label should be

a summary of X and Y. If it's a summary of A and B, summary of A and B. This isn't a PDF or a printed document. They can edit it. So my point is, Mr. President, if it's just one page and just one mistake, then we can say, let's allow it with that note. But if throughout this trial or throughout this afternoon, May mali yung label or it's misleading. What's worse than a misleading question? It's a misleading document that will be flashed in all the teleradios and all the TV and during this time. So it's very important that kung ano ang ating magiging disisyon as an impeachment court, yun din ang disisyon ng taong bayan. At magiging iba disisyon nila kasi tayo nakatutok tayo dito at alam natin yung ruling ng court na Oh, it says there, Sara Duterte. But that's for the company. This is for Sara Duterte. So, Mr. President, maybe, you know, if it's just one page, and that's the pleasure of the court, but if all the documents are like that, then they should change it, Mr. President, in the spirit of fairness.

I think what should be changed only is the title.

Because these are facts about the corporation. What may be misleading, Attorney Erwin, is the title, Summary of Vice President Sara Duterte's Shareholdings. Let's say in this page.

Sir, Presiding Officer, I agree with you. No, and that's what I meant, that simple lang 'yan. Either tanggalin mo na lang yung nakalagay sa ibabaw then just be conscious and careful in the future. Or if you want to emphasize something that is the VP, then have a separate page and say it that way. Pero isang perusal pa lang namin, pag tinignan ko 'yan, eh, 'yan 'yung

title, eh. Akala ko lahat ng numbers na iyan kay Vice President. So I agree with the Presiding Officer that, you know, a simple change or simple sensitivity could spell the difference in appreciating this evidence.

Do all of these pages, Attorney Erwin, contain that title?

It appears so, Your Honor. Is

it easy to exclude that in the screen?

I believe the tech booth operator will be able to do that, Your Honor, if what you want is to redact the... To

clarify, for the record, for the information of Senator-Judges as well as the viewing public, yung pamagat po ng mga dokumentong ito, ang pamagat ay ito ang shareholding o pagmamayarin ng vice-presidente, pero yung mga dokumento naman po nilalaman sa ilalim, nakapaloob sa ilalim.

So, can the tech booth adjust that and remove the title at the top of every page?

Your Honor, if I may speak. Attorney Justin? Yes, Your Honor. Pardon, Your Honor, and I am constrained as well to raise another objection. Apologies to the impeachment court and the general public for these objections but I also note your honor that the summaries that I just I'm just able to peruse now also have summaries to companies that this court had already excluded your honor particularly JTC Group of Companies Philippines Inc as well as Pikimong Pikimong your honor so we will object to the flashing as well of these portions of the summary consistent with the ruling the prior ruling of this court

Definitely. I believe the corporations are in separate pages anyway, Counsel. Thank you, Your Honor, for the record. And that is why earlier I only asked that copies be furnished to the parties.

So can the tech adjust the title?

Yes, Your Honor, they can do that.

Okay. Can you proceed without the chart or you want to wait for the chart, Attorney Erwin?

We need a bit of time, Your Honor.

Can

you proceed to another point or in the meantime? Or you need the chart?

I

will be needing the chart, Your Honor, to begin with my questions, Your Honor.

While

we're in a lull, the lead prosecutor for this article is an attorney, as is the Honorable Diokno, correct?

Mayor, unless you can answer me, Attorney Ervin, let's make use of the time. Since you will not be presenting Mr. Sopena today, you'll be presenting him tomorrow, correct?

Yes, Your Honor.

The next witness would be Mayor Sebastian Duterte, and then Attorney Gary Samonte, would that be correct?

Yes, Your Honor, correct.

And then Police Major Jerickson Sangalan.

Correct, Your Honor.

In that order?

Not necessarily in that order.

Would you know the order already of presentation for the information of the counsel-respondent as well as the subpoenas that the court will issue in the next couple of days?

Not at this time, Your Honor, for the order.

When will you know, counsel?

Later.

We will be filing the necessary manifestation later, Your Honor.

Not as late as the Previous evening, I hope.

Yes, Your Honor. Before we adjourn, we'll be able to decide on the order.

Because on Wednesday, we might not be able to hear any witness given that that is the date we will conduct the oral arguments on the appeal and the reconsideration of the Honorable Senator-Judge Erwin Tulfo. So we're only talking of a

trial date tomorrow.

So, may we know this afternoon so that we can issue the necessary subpoenas either for tomorrow and or Monday next week?

Yes, Your Honor. We'll do that.

So, how are we doing with the tech?

Can the Clerk of Court kindly ask the tech how many minutes it would take if there's a need to declare a brief recess or if they can do it in a few minutes?

Your Honor, may we be allowed to distribute the additional copies of the summaries to the Senator-Judges?

Corrected summary, counsel? Not yet.

Well...

Give us one copy and we'll be the one to redact it and distribute it. If you have a soft copy, counsel.

Okay, Your Honor, we'll do that.

Kindly furnish us a soft copy if you have one.

If you do not have a soft copy, then give us a hard copy. We'll be the one to redact it before distributing it to the Senator-Judges.

While we're waiting, Chair earlier did not yet take up the approval of the journal given that we had to review it and make some corrections. If there are no objections, we can now dispense with the reading of the journal of September 16, 2026 of the Senate sitting as an impeachment court and consider the same as approved.

Okay. All the pages already do not contain the title. I see Assistant Counsel giving me the thumbs up sign, so I guess it's okay. Attorney Ervin, you may proceed.

Thank you, Your Honor.

Your Honor, being flashed on the screen is this chart pertaining to City Hall King Chow Foods Corporation. But I'd like to begin my questions with the next corporation, which is Metro City Chow Foods Corporation, which is page 3 of

the summary.

Maybe ask the tech booth to flash the summary for Metro City Chow Foods Corporation. Okay.

So, Atty. del Rosario, saang ano pong mga documents ulit ang pinagbasehan ninyo para sa paggawa ng mga summaries?

Ang mga dokumento po nung kumpanyang pinagbasihan nito ay yung kanilang articles of incorporation. Kung meron pong amended articles, ah,

magiging parte po siya ng summary na ito. Yung general information sheet po na sina-submit nila sa amin at ang audited financial statement po.

Okay. Thank you. So based po dito sa summary, merong nakalagay na data from, ah, sa unang row, unang, ah, table, data from the articles of incorporation

or AOI.

So based po dito, ano yung naging partisipasyon kung mayroon man ni Vice President sa kumpanyang ito kung ang pagbabasehan ay ang articles of incorporation?

Dito po, ah, nakasaad dito sa summary ito yung pangalan ng kompanya, anong SEC registration number, kung kailan po siya na-rehistro sa SEC, at maging kanyang primary purpose na nakalahad dito. Ah, dito naman po nakapakita rin po rito kung si VP Sara Duterte ay incorporator, director, ang kapital po ng kumpanya, ah, authorized capital stock, amount subscribed at amount paid-up po. Ito pong mga impormasyon po ito ay nanggagaling po sa initial submission po nila, 'yung pong sa articles of incorporation.

Okay. Nabanggit ninyo po na itong salitang incorporator. Ano po ba ang incorporator?

Ang incorporator po ay yung mga taong

nag, ah, tatag ng korporasyon. Sila yung umisip na kung ano ang pangalan, ano ang magiging purpose niya, ah, magkano ang kapitalisasyon, at sila rin po yung mga pumirma ng foundational documents katulad po ng articles of incorporation at yung bylaws.

Okay. So based po sa articles of incorporation, ah, ano po ulit yung mga naging partisipasyon kung mayroon man ni Vice President para sa kumpanyang Metro City Chow Foods Corporation?

Ah, si VP Sara Duterte po ay, ah, lumalabas pong isa sa mga incorporator. Siya rin po ay direktor ng nasabing korporasyon nung ito ay itatag at meron din po siyang subscription at nagbayad po siya sa kanyang subscription.

Ah, ano po yung sinubscribe niya? Yun pong parte ng authorized capital na sinubscribe ni Vice President po. Meron po siyang statement doon. Meron pong impormasyon na nakasaad sa articles of incorporation.

Okay. So sinabi ninyo po na

incorporator siya at, ah, director din based sa articles of incorporation.

Yan po yung ayon sa articles of incorporation ng Metro City Chow Food Corporation.

Okay. So lumalabas po dito sa summary na merong, ah, may isang may column dito na tungkol sa company's total at may lumalabas na authorized capital stock. Ang amount na ito ay 1 million. Pakipaliwanag nga po ano ho ba itong authorized capital stock na 1 million under the column company's total.

Ah, yung authorized capital po, ah, matatagpuan ito kadalasan

sa Article 7 ng articles of incorporation. Yan po yung total amount ng kapital na gagamitin ng korporasyon.

Yung

PHP 1 million po. Okay.

Yung susunod po na column, still under company's total, ay itong amount subscribed na may halagang PHP250,000. Ano po ito?

Yun pong subscription po ay yun pong amount na mula sa capital na kinuha o binili ng isang subscriber.

So ito pong amount subscribed ay, ah, para sa mga lahat ng shareholders ng

para po sa mga shareholder po na kumuha ng parte ng authorized capital stock.

At ito naman pong susunod na amount under the amount paid-up, still under yung gray column na company's total, ang halaga po dito na lumalabas ay 62,500. Ano naman po itong amount paid-up na ito?

Ito po yung kabuuang halaga na binayaran ng mga shareholders na kumuha ng capital na lumalabas po na hindi po nila nabayaran nang buo yung kanilang subscription.

Okay. So itong, ah, 62,500, ito pa lang po yung binayaran ng mga shareholders sa kanilang subscription? Opo. Lahat po ng shareholder.

Okay,

malinaw po. So para po lahat 'yon sa mga shareholders.

Um, itong shareholder po, no, pakipaliwanag nga po sa madaling salita. Ano po ba ang shareholder?

Ang shareholder po yung mga namuhunan sa kumpanya na mayroong shares of stock.

At ano naman po kung anong ibig sabihin kung ang isang tao ay merong shares of stock sa isang kumpanya?

Meron po siyang interest o equity sa kumpanya. Okay.

So punta po tayo

sa susunod na mga column, no, based sa summary. Itong color blue na may heading VP Sara Duterte. At meron ding column dito na amount subscribed na ang lumalabas ay PHP50,000. Ano po itong amount na ito?

Opo, yung halaga na sinubscribe ni VP

Sara Duterte sa kumpanya.

PHP50,000.

Okay. Ah, so PHP50,000. Yung sumunod naman po na amount ay amount paid-up na PHP12,500. Ano naman po itong amount na ito?

Ito po yung kanyang initial na binayaran sa kanyang subscription

para po sa mga shares of stock

ng shares of stock po niya. So meron pong, ah, difference, no, yung, ah, subscription, yung amount subscribed na 50,000 at yung amount paid-up na PHP12,500. Ano po 'yung difference na 'yon?

'Yun po 'yung unpaid subscription. Ah, 'yan po 'yung hindi pa po niya

nababayaran na amount of subscription niya.

So, ibig sabihin may utang pa po based dito sa information na ito may utang pa si VP Sara sa kumpanya. Opo, ayon po sa Articles of Incorporation. So, so far ang naipasok niya palang na pera ay 12,500 nung na-incorporate itong company. Tama po. Sige, so punta tayo sa last column. Meron ditong nakalagay na percentage of ownership at lumalabas na 20%. Paano po na-compute yung 20% na yan, sir?

Well, sa total amount subscribed po, iyan po yung outstanding shares. Dini-divide po diyan yung magkano naman po yung sinubscribe ni VP Sara, which is 50,000. Kaya 50,000 divided by 250,000. Parang ganoon po. 20%.

Yung 50,000 divided by 250,000? Para magiging 20%? Tama po. Okay. So... So ito po yung lumalabas na percentage ng ownership niya. Tama po. Thank you.

So

baba po tayo sa data naman na galing sa general information sheets.

Meron pong yung

una column po ay year, no?

Pero bago tayo magtungo sa details about sa summary na ito, ano po ba itong general information sheet?

Ang general information sheet po ay, ah, isang

updating mechanism namin o mga dokumento na kung saan ang layunin po nito ay i-update ang SEC kung meron man pong pagbabago sa estruktura, sa komposisyon, sa mga opisyal ng isang korporasyon. Ah, ito po'y sinusumite sa amin mga tatlumpung araw matapos ang kanilang annual meeting.

Okay. Thank you. Ngayon puntahan natin yung, ah, table na data from general information sheet o GIS. So napansin ko po yung unang row, yung year, from 2018 to 2021.

Bakit po parang naka-lump

Ang lahilan po kung bakit po naka-lump ito from 2018 to 2021 kasi halos ang mga informasyon po ay pare-parehas tungkol sa kung siya ba ay member of board of directors, kung siya ba ay member ng executive committee. Bagayin po sa kanyang subscription ay pare-parehas kaya Ipresentan lang po namin ng isang dinya ito.

Okay, so wala akong pagbabago kasi pati po yung amount subscribed at amount paid up pareho pa rin po. So ang ibig sabihin po from 2018 to 2021 ay halimbawa member ng Board of Directors po si Vice President, tama po ba yan?

Yan po ang nakasaad sa JS ng mga panahon na yan.

So nakalagay po dito ng member of the Board of Directors si Vice President para sa mga taong 2018 to 2021. So paki-explain nga po ano po ba itong Board of Directors? Well

ang Board of Directors po siya po ang inataasan ng batas na mag-exercise ng corporate power, mag-conduct ng mga negosyo ng kumpanya. At mag-control sa mga properties ng kumpanya. Sila po yung umiisip ng pang mahabang panahon na estrategia para ma-improve yung kanilang kumpanya. Sila rin po ang mananagot upang mag-submite sa SEC at sa iba pang kagawanan ng gobyerno para sa kanilang mga legal compliances. At sila rin po yung talagang magbibigay ng proteksyon para sa kanilang shareholders.

Okay. Ano pong mangyayari kung ang isang kumpanya ay walang Board of Directors?

Hindi po siya makakapag-contact ng business kung wala po siyang Board of Directors.

So mukhang mahalaga po itong mga Board of Directors, naman po ba? Mahalaga po.

Okay,

thank you. Ngayon, punta tayo sa susunod na column after ng Board of Directors. Ito ay ang Executive Committee. So ano po ang ibig sabihin na lumalabas dito sa table na may nakasulat na member-compensation committee? Sino po ang member ng compensation committee based dito?

Ayon nga po sa 2018 to 2021 GS, si BP Sara Duterte po ay parte ng executive committee. Actually po, member po siya ng compensation committee.

Ano po ba ang ibig sabihin ng executive committee?

Ang Executive Committee po ay usually composed po siya ng mga tatlong director na ang layunin po ay magbigay ng maagarang solusyon o desisyon sa mga usapin ng organisasyon o ng kumpanya. As Compensation Committee po, sila rin po ang nag-aaral tungkol sa compensation package ng mga empleyado. Yun po ang aking nalalaman dito.

Okay, so bukod ko sa pagiging director ni VP Sara, siya po ay member ng compensation committee doon sa executive committee. Tama po ba? Yan po yung nakalagay sa kanilang GIS. So apart from yung duties ng director, may dagdag duty pa po dahil kasama siya sa executive committee? Yan po yung nakatala sa GIS nila. Okay, thank you.

So nabanggit niyo po na wala namang nagbago sa amount subscribed ni VP Sara or sa amount paid up ni VP Sara para sa mga taong 2018 to 2021. Ngayon, punta tayo sa susunod na row para sa mga taong 2022 naman hanggang 2024. So sabi niyo po kanina, nagsasubmit ng GIS ang kumpanya kung may mga pagbabago. So based po sa row na ito, Meron po bang nagbago sa shareholdings o sa interest ni VP Sara para sa kumpanyang Metro City Chow Foods Corporation?

Ayon po sa 2022 hanggang 2024 na JS, ang napansin po namin pagbabago rito ay nabayaran na po niya ng buo yung kanyang subscription. Lumilito po rito na... Yung kanyang among subscribed na 50,000 pesos ay nabayaran rin po niya ng buo ng 50,000 pesos din po.

Okay, so fully paid na po siya. From 12,500, nabayaran niya na ng buo yung 50,000. So wala na po siyang utang sa Metro City Chow Foods. Ayon po sa GIS na sinabmit nila. So ito pong total na 50,000 pesos na amount paid up. So ito pong total na pinasok na pera ni VP Sara sa kumpanyang ito.

Opo.

At ganoon din po nung hindi rin nagbago ang kanyang percentage of ownership, 20% pa rin po. Tama po, 20

% pa rin po.

Pero ano pong sinasabi dito tungkol sa participation ni VP Sara sa Board of Directors para sa 2022 hanggang 2024?

Ayon po sa GS nila, from 2022 hanggang 2024, Si BP Sara Duterte po ay member pa rin po ng board of directors.

Isang tanong nga po ulit. Sino po ba ang namimili ng mga magiging members ng board of directors?

Well, ang director po ay ine-elect po ng mga shareholders. Ah, so may election po?

Dapat po may eleksyon. So mukhang taon-taon ho may eleksyon at laging nananalo si VP Sara sa pagiging director sa kumpanyang ito.

Objection, Your Honor. There's already been a prior ruling from the presiding officer. We move to strike these additional conclusions of facts and law being made by the council. These are speeches that are not coming from the witness. Again, Your Honor, from the defense, it's our position. Evidence should come from the witness, not the counsel you own.

Allow me, counsel, with your indulgence to abbreviate the proceedings as well. Atty. Del Rosario, marami siguro nagtataka kung bakit ganito yung mga figure, mga bitin-bitin yung mga amount. Normal po ito, di ba? Kahit sinong abogadong initusan, bagong graduate na naging abogadong initusan, magtayo ng korporasyon, gamitin ang express lay ng SEC, ito po yung makikita natin halos araw-araw, di ba?

Tama po.

Kasi sangayon sa batas, kung may 1 million kang authorized capital stock, ang minimum na pwede mong i-subscribe at bayaran ay 25% at ang babayaran mo ay 25%. Kaya yung figure na 62,500, kabisado po yan ng halos lahat ng abogado dahil yan po yung minimum na paid up na dapat bayaran para sa isang milyong korporasyon.

Tama po? Yan po yung batas noon. Pero nagbago na rin po siya

ngayon. Alam ko

po, isa po ako sa mga may akda na naglikha ng OPC. Pero pagpapatuloy ko po. So yan po yung ginagawa noon. At nung panahong ginawa ito, wala po po yung batas na yun, di ba?

Tama po.

Ngayon, ilan po usually ang minimum bago mag-OPC? OPC po ibig sabihin, one person corporation. Ilan po ang minimum na dapat na nagbubuo ng isang kumpanya?

OPC po siya, kaya

isa lamang po. Dati po, ilan po ang minimum na bilang ng tao para magtayo ng isang kumpanya bago po yung amendment sa OPC?

Lima po ang minimum number of incorporators.

Lima. So usually sa gantong uri ng kumpanya na hindi naman listed sa stock exchange, malamang lima lang po ang stockholder nito.

Kadalasan po lima po.

Ito po? Lima to no? Lima

po.

Lima po ito. Mukha namang lima eh.

So lumalabas po na yung lima, malamang din, nang hindi ko nakikita yung JS, bawat isang stockholder ay meron tigla 20%. Tama

po, equal po.

Dito po sa kumpanyang to, hindi po ba? Tama po. Opo. At ang bubuo ng board of directors ay yung mga stockholder, hindi po ba?

Opo, sila po yung initial directors po, jury incorporation.

Opo. At lima po yun, lima lamang po yun.

Tama po.

So it may be a misnomer na palagi nananalo yung statement ni Atty. Ervin dahil yung Board of Directors na lima lang naman talaga ang bubuo nung Board of Directors. Hindi ba ba?

Tama po, Sir.

Dahil kulang na yung tao mo para sa Board of Directors eh. Sila lang namang lima eh. Tama po, Sir?

Tama

po.

Okay. You may proceed, Atty. Ervin.

Okay, so from 2022 to 2024, member po ng Board of Directors si VP Sara. Ngayon, punta po tayo sa 2025. Pakitignan po, based po dito sa summary, member pa rin po ba siya ng

Board of

Directors?

Member pa rin po siya ng Board of Directors sa GIS ng 2025.

How about sa Executive Committee po?

Ganon pa rin po, nakatala pa rin po siya as member ng Executive Compensation Committee.

Dito po sa column na officer, mayroong nakalagay na associated person. Ano ang ibig sabihin ng pag may nakalagay na associated person kung alam po ninyo? Ang associated

person po sa pagkakaalam po, ito po yung nagsasubmit ng compliance para sa mga capital market transactions.

Okay.

So, sir, abogado po kayo, no?

Lumalabas po dito na member po ng Board of Directors si VP Sara mula 2022 hanggang 2025. Kailan po na-elect na Vice President si Respondent Sara Duterte?

Sumumpa po siya bilang Vice President noong June 30, 2022.

Okay. And bilang abogado, pwede po ba ng isang vice-presidente kapag nalumpa na siya ay maaari po ba siyang maging member of the board? Directors ng Kumpanya.

Objection, Your Honor. Calls for an opinion from a witness that is clearly incompetent, Your Honor. If the prosecution was if so minded, they should have been asked for the civil service.

Actually, I'll allow it, counsel, because I'm also interested to find out if they flagged it or not. Because if it's indeed illegal, they should have flagged it. If that's the opinion of the SEC. You may answer, Attorney Del

Rosario.

Your

Honor, we ask the Impeachment Court to take judicial notice of Article 7. 13 of the 1987 Constitution which says, The President, Vice President, the members of the Cabinet and their deputies or assistants shall not unless otherwise provided in this Constitution hold any other office or employment during their tenure. They shall not during said tenure directly or indirectly practice any other profession Participate in any business or be financially interested in any contract with or in any franchise or special privilege granted by the government or any subdivision, agency, or instrumentality thereof, including government-owned or controlled corporations or their subsidiaries. They shall strictly avoid conflict of interest in the conduct of their office.

Thank you for reading that, Atty. Irwin. Atty. Del Rosario? Wala po akong napakinggan sa binasa ni Atty. Erwin na business interest.

Participate in business. Yes, it's there. But to have a business interest, do you see it?

Okay.

Okay lang po. Please proceed, Atty. Erwin.

Thank you, Your Honor.

May we ask the, well, we will now proceed to the next part of the summary still for Gen. Corp. Hold on, Atty. Harwin.

Can you flash the previous slide? The Constitutional Provision? No, the Constitution. The previous slide.

The summary? The

summary. Because this might recur so it will abbreviate the proceedings as well. Can you, the summary on

the company?

Yes. Attorney Del Rosario, ano po ibig sabihin ng associated person sa authorized capital stock?

Well, nasa under po siya ng officer. Yung sa may authorized po is yung po yung linya na matatagpuan sa articles of incorporation. Yung sumusunod pong information ay mga information na galing sa GIS. Ang tanong

ko po, ano pong ibig sabihin ng associated person? Well,

ang associated person po ay... Isa pong tao na ito ang nagsasabit ng compliance para sa mga capital market companies, sa mga mutual funds.

So pagkatapos po nung unang pagkakalikha ng kumpanya, hindi nyo na nilalagay yung authorized capital stock? Ba't naging officer, NA, NA, associated person? Ano pong ibig sabihin ng column na yan?

Iyan po yung mga informasyon na nakalagay sa GIS, sa General Information Sheet.

Sa ilalim ng column ng authorized capital stock?

Hindi po sir. May nag-separate po dyan. Data from the general information sheet, then yung taon, board of directors.

Kung titignan niyo po yung column kasi, nasa ilalim po yan ang authorized capital stock. Hindi po ba?

Parehong column po yan eh.

Parehong column po.

So isang million pa rin yung authorized capital stock. Hindi nagbago?

Hindi pa rin po nagbago.

Okay. Pangalawa. Bakit mula 50,000 bumaba ng 12,500 uli sa amended noong 2025?

Yun po ang pagkakareport nila sa GIS. Muli sa kanilang amended GIS.

So base lang po yan sa nireport sa inyo?

Opo. Kung ano pong data ang nakalagay sa GIS, yun lamang po ang nakalagay dito.

Okay. I'm kindly proceed, Atty. Erwin.

Thank you, Your

Honor. So kanina po na-define ninyo ang shareholder.

At nasabi niyo ho, ito ay pamumuhunan sa kumpanya. So ano po ba ang financial benefit kung mayroon man ang pagiging isang shareholder ng kumpanya?

Well, bilang shareholder po, ang alam ko pong pakinabang niya sa kanyang puhunan ay yung dibidendong ididiktaran ng kumpanya. Ngayon kung shareholder na ito ay director, maaari po siya makatanggap ng adisyal, let's say yung kanilang Reasonable per diem. O kung ang shareholder na ito ay empleyado pa ng kumpanya, maaaring meron po siyang sweldo.

Nabanggit niyo po yung dividend. Ano po ba itong dividends?

Ang dividend po ay parte po ng kita ng isang korporasyon na nanggaling sa retained earnings. At yung retained earnings na ito ay nakatagrip po as

Unrestricted retained earnings o wala ng paggagamitan na maaaring i-deklara at i-bayad bilang dividendo para sa shareholder ayon po sa kanilang interest sa kumpanya.

Proportionate interest po sa kumpanya. Okay. So ito pong dividends ay kita ng shareholder? Opo. Yan po yung binibigay na kita ng shareholder.

Sige, so puntahan natin yung susunod na table para sa Metro City Chow Foods Corporation, itong page 4.

Before you proceed, counsel, can you clarify, Attorney Del Rosario, yung dibidendo po, yun po ay kikitain lamang ng shareholder pag dineklara na?

Tama po.

Hanggat hindi dinedeklara yung dibidendo, kasama pa rin yun sa pag-aari ng kumpanya? At hindi bahagi sa pag-aari ng shareholder.

Tama po hanggat hindi pa po siya na ibabayad sa mga shareholders. Sa

katunayan, magbabayad ka lamang ng buis kapag dineklara na yung dividend.

Tama po.

Sa kabilang banda, ang shareholder pwedeng umutang laban sa undeclared dividend o gamit na collateral yung undeclared dividend.

Maari po.

Nakadeklara po ba yun sa SEC o hindi po?

Maaari pong makadeklara yun kung meron man sa financial statement as part ng notes. Pero sa GIS po wala po kaming ganong entry on...

Loan po yun ng shareholder ah, hindi ng kumpanya.

Apo, maaaring ideklara po yun through the notes. Kasi po yung mga creditors ng kumpanya baka rin nakalagay ang pangalan nung... Shareholder doon.

Loan lamang po ang tawag ko, pero sa katunayan, advanced on undeclared dividend po yun. Loan po ang turing doon, pero advanced yun sa undeclared dividend. Kailangan po ba i-declare yun?

Siguro po, hindi ko po kayang sagutin yan. Una-una, hindi naman po ako CPA yan para...

Pero ang SEC po ba, nire-require bang i-declare ang advanced against undeclared dividends? Hindi po.

Ang alam ko po, dapat mong ilagay yung mga advances from stockholders. Pero coming from the undeclared dividends, wala po akong idea.

Kung wala po kayo idea, ibig sabihin hindi po nire-require ng SEC na i-report po yan?

Maaari pong merong accounting standards na nire-require po yan. Tulad nga po na sabi ko, hindi ko po alam ang mga accounting standards. Kung ano-ano po pong mga entries na dapat for purposes po ng... Maging transparent kung dapat siyang i-declare sa financial statement.

Pero hindi po yan kasama sa compliance na hinihiling ng opisina ninyo?

Hindi po siya yung mga binabantayan naming information na dapat namin makita sa mga GIS.

Okay, salamat po. You may proceed, counsel. Thank you for your indulgence.

Okay, so itong page 3 ng inyong summary tungkol sa Metro City Chow Foods Corporation. So tignan nga po natin ano po ba ang negosyo o purpose nitong corporation na ito.

Ayon po sa Articles of Incorporation ng Metro City Chow Foods Corporation, ang primary purpose po niya ay to establish, operate, and maintain restaurants, coffee shops, refreshment parlors, cocktail lounges, and catered foods.

Okay, so sa baba po na table na meron nakalagay na data from audited financial statements. Ano po itong audited financial statements?

Well, ang audited financial statement po ay structured information tungkol po sa financial position ng isang kumpanya. Ito pong dokumentong ito ay isinusubite sa aming tanggapan.

within 120 days of the end of fiscal year po. Dito po nakasaad ng financial condition ng bawat kumpanya.

Thank you. Sige, so puntahan natin, isa-isahin natin itong informasyon dito sa table na ito. Sa unang column, nakalagay ang year. Ano ho, yung mga ibig sabihin ng mga taon na nakalista dyan sa column na iyan.

Ito po yung taon kung saan nag-submit po sila ng audited financial statement para sa Metro City Chow Food Corporation.

Okay, thank you. Ngayon, yung susunod na column naman ay sales. At mag-focus tayo sa 2017 na taon. Nakalagay dito ang sales ay 25,733,411. Ano po ba itong 25 million na ito sa column na ito?

Ayon po sa financial statement nila sa column po ng sales, meron po itong 25,733,411. Ito po yung pinagbilan ng produkto nila o servisyo sa publiko. Yun po yung alam ko sa sales. So ito po yung benta? Benta ng kumpanya? Okay.

Para sa buong taon ng 2017? Tama po. And then, sa susunod na column, still for 2017, merong net income na lumalabas ng amount ay 321,223. Ano man po itong amount na ito?

Your Honor, at this point, we will object on the ground of relevance, Your Honor. May we inquire what the relevance of confronting the witness with these particular numbers is in relation to the charge against the Vice President specific to Article 2?

Counsel, you want to respond?

Your Honor, the relevance will be again as stated in our purpose. Kumita po yung kumpanya, yung iba hindi po kumita. Pero at the end of the day, wala pong nakuhang dividendo. So papunta po tayo sa puntong iyon pero bago po tayo makarating doon, Your Honor, kailangan po namin ipaliwanag ano po ba yung mga... Amounts, ano po ba yung dapat tignan para malaman kung may dividendo o walang dividendo, Your Honor.

But I don't think you need to go through the year-by-year account, Counsel, because as we can already see, it will end in a loss.

Yes, Your Honor. I'm just trying to explain, Your Honor. Anyway, Your Honor, hindi ko na po kailangan gawin taon-taon. This is just the first row to illustrate, Your Honor, itong mga konseptong ito.

Yes, Counsel. I'll give you... I'll give you some leeway just to explain the concepts but kindly go directly to your point.

Yes, Your Honor. I'll do that.

Objection is overruled. For the meantime, Atty. Justin?

Understood, Your Honor.

So, Sir, ano po itong lumalabas na 321,223 under column na net income or net loss?

Ito pong amount na ito ay ang kinita matapos tanggalin ang cost of sales. Ibinawas po roon yung sales, ibinawas po yung halaga ng puhunan nito. Ito po yung lumalabas na kinita niya, 321,223.

Okay, thank you po. Ngayon, sa susunod na column, ang column na ito ay retained earnings slash deficit. Ang amount ay 321,223. Ano naman po ito?

Ito po yung earnings po ng kumpanya sa loob ng isang taon na ito.

Bakit po pareho yung amount ng net income na 321 dito sa retained earnings para sa taong 2017?

Kasi po ang retained earnings ay cumulative kung ano po yung unang net income siya na rin po muna. Ito po kasi nagbabago depende po sa takbo ng negosyo kung meron siyang income or meron siyang loss. Sige, salamat po.

Ngayon, punta tayo sa susunod na column. Itong appropriated retained earnings ang nakalagay dito sa column na ito for 2017. Zero. Ano naman po ito?

Ibig sabihin po niya na wala pong itinalagang pera na gagamitin sa mga proyekto, anumang pangangailangan ng kumpanya. Na ang perang ito ay dapat manggaling sa retained earnings po.

Okay, so dahil zero, wala pong itinalagang ganun ang kumpanya para

sa mga

proyekto.

Tama po ba? Tama po.

Okay, yung susunod na column, ang title nito ay Unappropriated or Unrestricted Retained Earnings at may halaga na lumalabas 321,223. Ano po itong amount na ito?

Lumalabas po yung kailan total retained earnings po ay nilagay na po nila bilang unappropriated. Itong halagang po ito ay ang

Sige.

Ngayon punta tayo sa huling column. Nakalagay dito dividend appropriation slash declaration slash payment. For 2017 lumalabas po nakalagay dito no dividends declared. Bakit po no dividends declared ang nakalagay dito?

Lumalabas po kasi nung tinignan ng 2017 financial statement wala pong information na nagkaroon siya ng deklarasyon o pagbabayad ng dividendo. Maging po sa GIS noong 2017, meron pong entry doon kung meron kang diniklarang dividendo o binayad.

Wala pong informasyon na

nakalagay. Okay, so kaya po no dividends declared ang nakalagay dito. So, 2018 no? Malino naman po sa summary na... Naging 50 million ang sales. Ang net income ay 462,277 for 2018. Ngayon, yung retained earnings po ay naging 783,500. Bakit po ganun yung lumalabas na amount doon sa retained earnings for 2018?

Idadagdag mo na po yung income mula sa dating retained earnings po. Kaya naging 783,500 pesos.

Ang sinasabi niyo pong income, yung net income para sa taong 2017 hanggang 2018, tama po ba?

Yung income po ng 2018 at yung retained earnings po ng 2017.

Ayun, so yung retained earnings noong 2017 na 321,223 plus yung 462,277 kaya po naging 783,500. Tama po. Ngayon, diretso na tayo sa unrestricted retained earnings. Pareho po yung amount sa retained earnings. So ano pong ibig sabihin ito?

Ang total amount po ng retained earnings ay nilagay po nila sa account ng unappropriated unrestricted retained earnings. Ito po yung maaari din pong indeklara bilang dividendo.

Pero para sa taong 2018, meron po bang dineklara na dividends?

Wala pong impormasyon na nagsasabing nagkaroon ng deklarasyon ng 2018 from financial statement as well as sa GIS.

So dalawa po yung tinignan niyong document, Audited Financial Statements at GIS. Tama po ba? Tama

po.

Gumamit nga po tayo ng example. Nabanggit niyo kasi na isa sa pinagagalingan ng impormasyon ay ang General Information Sheet. So puntahan po natin yung 2018

na General Information Sheet ng Metro City Chow Foods Corporation. And for the record, Your Honor, we'd like to show to the witness exhibit.

P-Roman numeral 2-2-4-2-A.

Ito po yung 2018 GIS ng Metro City Chow Foods Corporation. So pakitignan nga po itong GIS at saang page po makikita dyan yung impormasyon tungkol sa dividends.

page po makikita dyan yung impormasyon tungkol sa dividends.

Ito pong GIS pertaining to Metro City Chow Foods Corporation sa taong 2018.

Sa page 9,

meron po rito ng hinihingi informasyon tungkol sa number 5, dividends declared during the immediately preceding year. Nakalagay po rito kung ang different types of dividend, whether cash, stock, or property.

Anong item po sa page na yan lumalabas yung information tungkol sa dividends? Sa item number 5 po. Item number 5.

So sa item number 5, ano po ang nakalagay tungkol sa dividends? Dividends declared during the immediately preceding year?

Type of dividends, cash, stock, property, sa amount, NA po ang lahat ng deklarasyon. NA sa cash. NA sa stock at NA sa property. So ano pong ibig sabihin nun sir? Wala pong informasyon tungkol sa dividendo.

Thank you. And tinignan nyo rin po yung financial statements para sa 2018? Sinuray din po. At ano pong informasyon tungkol sa dividends kung mayroon man?

Wala pong informasyon doon tungkol sa pagbibigay o pagdideklara ng dividendo.

Okay. Thank you. Ngayon tignan natin yung 2019 na information. Tungkol pa rin sa financial statements ng Metro City Chow Foods Corporation.

Ang kakaiba dito sa 2019 ay may lumalabas na po na amount doon sa column ng Appropriated Retained Earnings. Ang amount ay 1,350,000 pesos. Ano po itong lumalabas na amount na ito, Sir?

Yung sa 2019 po, yung amount na 1,350,000 pesos po under Appropriated Retained Earnings. Ito po yung amount, ito po yung pera is set aside po nila para gamitin sa proyekto ng kumpanya.

Maaring proyekto po para expand o magbayad ng utang. Yun po ang amount na itinalaga nila.

Ito po ba ay pwedeng i-declare na dividends?

Hindi po. Ah,

hindi po.

Punta tayo sa next na column na merong lumalabas na 3,767 under the column Unappropriated or Unrestricted Retained Earnings. Paano po na-compute itong amount na ito, Sir?

Yan po yung balance mula from the retained earnings na tinagal po rin yung minark nila as appropriated. Ito po yung natira pera coming from the retained earnings ng kumpanya.

Okay, so yung retained earnings po for 2019 ay 1,383,767 minus itong 1,350,000 na appropriated retained earnings, lumalabas po na 33,767. Tama po ba yan?

Opo, yun po yung nasa account po ng unappropriated or unrestricted retained earnings. So

ito po bang 33,767 ay pwedeng i-declare na dividends? Pwede pong i-declare itong as dividend. Pero bakit po no dividends declared pa rin sa taong 2019?

Objection, Your Honor. The witness would be incompetent to testify and answer for the corporation involved, Your Honor.

Sustained. I'll

reform, Your Honor.

Can you reform, Counsel?

Bakit po nakalagay na no dividends declared itong last column para sa taong 2019, Sir?

The same objection, Your Honor. The reformed question does not make it different.

No, no. The first question was he was asking why. The witness would not be competent because declaring dividends is subject to the discretion and decision of the company and the company's board of directors. I would assume walang nakalagay na dividendo dahil wala pong dineclare na dividendo, dineklarang dineclare na dividendo. Tama po ba?

Tama po.

Nakabase po yung no dividends declared sa report ng kumpanya na wala silang dineclare na dividendo.

Wala pong information po sa GIS as well as sa financial statement.

Na nag-declare sila ng dividendo para sa mga taong yan.

Tama po.

Okay. Kindly try to wind up, Attorney Oren, before we break for lunch, with respect to your educational direct on the terms in the summary.

Yes, Your Honor.

So that we can proceed to the more exciting matters after lunch.

Yes, Your Honor. Anyway, I see that there are negative amounts here. I think this will be quicker now, Your Honor.

Okay. Kindly proceed and wind up with that I guess before we pause for lunch.

Yes, Your Honor. So tingnan po natin itong summary ulit. Ang nakikita ko po ay 2020 hanggang 2024, nakapula po yung funds ng figures para sa net income or net loss. Ano po ang ibig sabihin nito na nakapula siya at may negative value?

Ibig sabihin lang po nito na Negative po yung kanyang income from 2017. Kung susumahin mo ang lahat ng income nila, negative po ng 3,154,676.

So pag tinotal po yung net income or net loss mula 2017 hanggang 2025, yun po yung amount na sinabi nyo na negative 3 million. At pati po yung retained earnings, pula po. Bakit po pula din yung retained earnings?

Well, deficit po siya. Ibig sabihin talagang wala po siyang accumulate na retained earnings. Okay.

At bakit naman po sa columns ng 2020 at isama na rin natin yung 2025, bakit po no dividends declared ang nakalagay doon sa column na iyon?

Dahil wala po kaming natikitang informasyon mula sa financial statement at sa GIS na meron silang dineklarang dibidendo. Okay,

so tinignan nyo pa rin yung GIS at FS kung merong information tungkol sa dividends. Tama po. Pero ito pong tingnan natin, kanina sinasabi nyo kasi, yung unrestricted retained earnings, nung positive yung amount, sinasabi nyo po na maaaring i-declare itong... Dividends na ito. Pero ngayon, kung titignan natin itong unrestricted retained earnings for 2020 hanggang 2025, puro negative, sir. So ano pong ibig sabihin nun kung negative itong unrestricted retained earnings?

Ang dividendo po ay dapat manggaling sa unrestricted retained earnings. Since negative po ito, wala pong madidik lang, dilikt lang ang dividendo na manggagaling sa unrestricted retained earnings.

Bakit? Bakit po?

Dahil deficit po siya. Negative po ang figure na uma-appear sa retained earnings po. Unrestricted retained earnings.

So pag deficit po, pag nakita natin na deficit yung retained earnings, wala pong dividendo ang panggagalingan?

Opo. Dahil ang dividendo po ay manggaling dapat sa unrestricted retained earnings na dapat sana positive.

Liwanagin po natin ito. Sorry. Ang dibidendo dapat manggaling sa kita ng kumpanya?

Yung kita po ng kumpanya ay... Na hindi

nire-reinvest sa kumpanya?

Dapat mailagay po siya sa unrestricted retained earnings na kung saan siya po yung maaring gamitin pang dibidendo sa mga shareholder ayon po sa kanilang... Magmumula

nga po sa kinita ng kumpanya na hindi nire-invest sa kumpanya. Yun po ang panggagalingan ng dibidendo. Yun po yung unrestricted retained earning na binabanggit niyo.

At base po sa table ninyo, ang kabuoang kinita ng kumpanya, gross sales. Hindi po kasi nakalagay na gross sales lang nakalagay eh. Ang total gross sales from 2017 to 2025 is 309

million plus plus. At ang kabuoang kinita o nalugi mula 2017 hanggang 2025 ay 3.1 million plus plus.

Tama po.

Okay.

Counsel, you want to pause for lunch?

Just one last question before we pause for

lunch.

Meron po bang sinasabi ang batas tungkol sa dividends kung ang retained earnings ay deficit o negative?

Objection, leading your honor. and is asking for a conclusion.

Reform counsel, I know where you're getting at.

Ano po ang sinasabi ng batas kung mayroon man tungkol sa dividends kapag ang isang kumpanya ay nasa deficit?

Well, ang alam ko po rito ay the board ay maaaring mag-declare ng dividendo in the form of cash, property or shares from the unrestricted retained earnings na ayon po sa equity interest ng bawat shareholders.

Pero kung negative po yung pag-deficit po in relation sa batas ho.

Ibig sabihin po wala pong may i-distribute na dividendo. Bawal po ba?

Alam ko po bawal yun.

Bakit po bawal na mag

-declare ng dividends pag-deficit? Kasi wala nga pong available amount na nakapaloob sa unrestricted retained earnings.

That would be all before we break for lunch, Your Honor. I will continue later. Will

it be as exciting, counsel, after we resume, after we take a recess for lunch?

Yes, Your Honor.

As exciting or more exciting,

counsel?

We're done with the boring part, Your Honor.

Okay. We shall break for lunch until 12.45 so that everyone, including Attorney Del Rosario, may also have partake of lunch. You are excused for the meantime, Attorney Del Rosario. Salamat po. We are on recess until 12.45.

Kindly situate Attorney Del Rosario to the witness stand once again. The Clerk of Court through the OSHA is so directed.

Your Honor,

please. Yes, Honorable

Ridon.

Bago po ibalik kay Atty. Matib yung pong hapag, we wanted to make manifestations and to ask for the striking out from the record of two statements.

This particular statement, number one, open quote, a quick perusal of the document already shows some misrepresentation, close quote. That is the first statement. Second, open quote, clearly, this is again an attempt and apologies to use the term to condition the minds of the public over these figures, close quote. Tingin po namin na, Your Honors, hindi ho ito dapat ginagamit. Particular dahil ito po naman ay aktual na dokumento na isinumite sa atin pong korte ng opisina po na nakaharap po sa atin ngayon. At pangalawa, tumaliman na rin naman po kami doon sa panawagan na tanggalin yung pong meron pong so to speak misleading heading.

sa dokumento pong ito.

Truly, the intention of the prosecution is just to present the documents and the data and information containing those documents, then the simple solution to their problem would have been to just simply refer to the certified through copies of the documents brought today by the witness, Your Honor.

TSN, counsel, with your indulgence, we will make a ruling later on before we adjourn today's trial. And again, may the chair reiterate from the clerk of court for a copy of the TSN, relevant TSN. Thank you, Atty. Ridon. Atty. Del Rosario, naunawaan niyo po na magpapatuloy po kayong magbigay ng inyong testimonya sa ilalim po ng naunan niyong pinanumpaan ngayong kaninang umaga.

Opo.

Salamat po. Atty. Erwin, your witness.

Thank you, Your Honor.

And you promised this to be, right, if I remember correctly, faster and more exciting?

Yes, Your Honor. Papunta na tayo sa exciting part ngayong hapon na to. I

hope your definition of exciting is the same as ours. Please continue, Atty. Erwin.

Thank you, Your Honor.

Okay, so tapos na tayo sa summary ng Metro City Chow Foods Corporation.

Ang next na kumpanya po na pag-uusapan natin ngayon ay itong GenCorp Industries Inc., and I believe the summary for this company is on page 5. And may we request the tech booth to flash the summary on the screen for everyone to see.

Okay, so naka-flash na po itong summary for GenCorp Industries Inc.

Sir, based po sa documents at sa summary na ito, ano po ba ang negosyo ng GenCorp Industries, Inc.?

Ang GenCorp Industries, Inc., na nairehistro po sa amin noong September 23, 2020, ay mayroong primary purpose na to operate a restaurant.

Okay. At lumalabas po, may data from Articles of Incorporation or AOI. Based po sa Articles of Incorporation, ano po ang lumalabas na interest ni VP Sara dito kung mayroon man?

Well, ayon po sa kanyang Articles of Incorporation, hindi po nag-a-appear ang pangalan ni VP Sara Duterte sa kumpanya na ito.

Thank you. And sa general information sheet naman po, ano pong nakalagay kung mayroon man tungkol sa interest or shareholding ni Vice President tungkol sa kumpanyang ito?

Wala rin pong impormasyon na nakalagay sa kanilang General Information Sheet na nagsasabi na si VP Sara Duterte ay director o stockholder ng GenCorp Industries Inc.

From Audited Financial Statements or AFS.

Based po sa data na nandito, magkano po yung naging sales nitong GenCorp Industries Inc. para sa taong 2021?

Para po sa taong 2021, ayon sa financial statement, ang kanilang sales po ay merong total na PHP 28,087,703.

At ano naman po ang mapapansin ninyo sa sales ng kumpanyang ito pagdating ng year 2022?

Well, noong 2022 po, lumaki po ang kanilang sales from 28 million naging 300 million 23,052 po.

Okay, so lumaki almost times 10. Tama po ba yung paglaki ng sales ng kumpanyang ito for 2022?

Tama po.

Sir, kailan po ulit na-elect si Respondent Sara Duterte as Vice President?

Nanumpa po siya noong June 30, 2022.

Okay, the same year na nagtala ng sales itong kumpanyang to na 300 million pesos, 23,052. Ngayon, punta tayo sa...

Objection, Your Honor. Pardon, we move to strike the additional statements of the counsel, Your Honor. These are conclusions of facts.

Kindly reform, Atty. Erwin.

Anyway, I'll go to the next... Or move on. Yes, Your Honor, I'll move on. For the year 2023, magkano po ang naging sales ng GenCorp Industries, Inc.?

2023 po, tumaas pa rin po, naging 320,560,702 ang

sales.

Pero nagkaroon po ba ng net income para sa taong yan?

Sa 2023 po meron po siyang net income na 2,700,451.

Okay. So from yung sales nila na 320,560,702 ang natira lamang na net income ay 2,700,451. Tama po ba?

Ayon po sa financial statement ng kumpanya.

Okay, sige po. Ngayon, punta tayo sa 2024. Magkano po ang naging total sales ng kumpanyang ito para sa taong ito?

For 2024 po, ang total sales ay 394,075,361 pesos.

300,094,070... Sorry, 394 million.

75,361 ang naging sales. So kung may 365 days po tayo sa isang araw, so average in a day, nakaka more than 1 million po sila na sales para lamang sa taong 2024.

Objection, Your Honor. Calls for speculation. Move on,

counsel.

Magkano po ang natirang net income ng kumpanyang ito para sa 2024?

Nung 2024 po merong natirang net income sa halagang 3,324,863 pesos.

Okay, so 3 million lamang po ang kanilang net income or less para sa taong ito. Pero kung titignan niyo po yung last column, puro no dividends declared. Pero based po sa data dito, maaari po bang, meron po bang... Halaga na maaaring i-declare sana ng kumpanyang ito bilang dividends?

Mayroon po sa 2024 mayroon pong figure na nakalagay

sa unappropriated or unrestricted retained earnings na pinagkukunan po ng dividendo.

Pero lahatin na po natin yung tanong na for 2021 hanggang 2024, magkano po ang dineclare na dividends para sa kumpanyang ito kung mayroon man?

Wala po kaming nakitang informasyon mula sa financial statement maging sa GIS na nagkaroon po siya ng deklarasyon sa mga panahong ito from 2021 hanggang 2024.

Okay. Pero tignan po natin yung total sales. Meron pong total sales dito para sa 2021 hanggang 2024. Magkano po yung overall total sales nila para sa kumpanyang ito?

Kung susumahin po yung sales mula 2021 hanggang 2024, Ang total po nito ay 1,042,746,818.

So more than 1 billion ang total sales ng kumpanya mula 2021 hanggang 2024.

At magkano naman po yung overall net income para sa mga taong ito?

Ang net income po niya from 2021 hanggang 2024 po. ay may halagang 8,039,201 pesos.

Okay, so despite having a net income po, no, no, more than 8 million, ang sinasabi niyo po, wala pong dividend declaration para sa kumpanyang ito sa mga nasabing taon.

Again, Your Honor, apologies, we are constrained to move to strike the repetition or additional statements from counsel, Your Honor.

To conclude, your honor, the...

Same ruling, same ruling, counsel. You know it already?

Yes, Your Honor. I'll move on to my next point. So, sir, lumalabas po dito sa summary na hindi lumalabas bilang incorporator or director or even as a stockholder si VP Sara sa kumpanyang ito although dineclare niya po sa kanyang SALN itong business interest na ito.

Objection, Your Honor. The witness would be incompetent. It's not even aware of the SALN of the Vice President.

Sustained counsel.

So, I'll reform, Your Honor. I'll just remove that part. So, sir, based po sa summary, lumalabas na wala po si VP Sara bilang incorporator or director at stockholder sa kumpanyang ito. Ngayon, nabanggit niyo po kasi na nag-start kayo magtrabaho sa SEC bilang abogado, 1996 pa. Tama po. So, sa tagal po ng inyong pagtatrabaho sa SEC, may mga sitwasyon na po ba kayong nakita na kung saan ang isang tao, kahit na hindi lumalabas bilang incorporator or shareholder or director ng kumpanya, ay may interest or may control sa kumpanya?

Calls for speculation, Your Honor.

Speculative, Your Honor.

Your Honor, we are asking on the basis of experience.

If he knows, counsel.

Thank you, Your Honor.

I have to rule the objection. If he knows, Attorney Del Rosario.

knows, Attorney Del Rosario.

Meron pong pagkakataon na nominee ang isang tao, nominee siya ng isang kumpanya na kung saan nire-represent niya yung kumpanya na stockholder sa isang kumpanya. Posible rin po na meron silang trust agreement.

na siya ang muna ang mag-represent ng kanyang interest sa kumpanya. Nangyayari po yan.

When you say siya, may nabanggit po kasi kayo na nominee. At siya, sino po yung siya in relation to the nominee?

Well, yung pong trustee, maaaring siya ang nag-represent ng trustor through a trust agreement.

So

yung trustor po, kahit na hindi lumalabas sa... Listahan yung pangalan niya sa kumpanya, maaaring meron siyang in-appoint na nominee o trustee.

Pag meron pong ganong dokumento. So

yung trust po, from the root word, trust agreement, trust or trustee, ano po ibig sabihin ng trust na ito?

Trust po, ibig sabihin, nagtitiwala.

Pinagkatiwalaan at nagtiwala.

So dapat may pagtitiwala po sa dalawang tao na nag-a-agree dito sa trust agreement.

Dapat po meron siguro silang dokumento.

So itong mga ganitong arrangement, ito po ba ay legal?

Hindi naman po siya masasabing illegal. Huwag lamang pong gagamitin sa katiwalian tulad po ng itatago niya ang kanyang personality para maitago yung responsibilidad sa batas.

Magbigay nga po kayo ng halimbawa na kung saan may mga ganyang bagay na ginagamit yung trustor or trustee relationship para sa mga iligal na bagay. Base po sa inyong experience o nalalaman?

Your Honor, objection. Yes, Attorney Justin. Two levels. The witness is being presented merely to identify documents from the SEC and he is not being presented by expert. But now the prosecution is asking the witness of hypothetical scenarios, your honor. Surely this cannot be allowed, your honor.

With your indulgence, counsel.

Attorney Del Rosario, hindi po bawal magkaroon ng trust agreement, di po ba?

Hindi po siya bawal.

Ang trustor po sa isang trust agreement sa yung tunay na may-ari o beneficial owner. Tama po.

Tama po.

Yung trustee o nominee, siya po yung pinagkatiwalaan ng trustor o tunay na may-ari o beneficial owner. Tama po?

Siya po yung pinagkatiwalaan ng trustor.

May alam po ba kayong batas na nagsasabi kung kailan ito legal o iligal o parati po siyang legal, maliban na lang kung mapatunayan ang iligal?

Well, wala pong masama sa agreement. May

batas po ba na nagsasabi? Na ito ay legal maliba na lamang kung ang intention para gawin ito ay iligal. May alam po ba kayong batas na ganun?

Well, unang-una po, kung gagamitin po natin yung Anti-Dummy Law, kung ang purpose nito ay itago yung personalidad o nationality ng isang tao, so as to evade po yung kanyang opportunity to form a corporation sa Pilipinas, isa pong violation.

In a nationalized industry or business. Opo. So kapag ka labag po sa batas, yung pagkakaroon ng trust agreement o nominee?

Bawal po yun kung meron pong paglabag sa batas.

Yung intention nga po?

Kung intention po ay wala na pong masama sa intention. Kung intention niya is just represent me para sa negosyong ito, obviously hindi naman po bawal yun. Pero kung ang intention niya ay para ma-evade niya yung batas na nagbabawal sa kanyang Magkaroon ng anong klaseng negosyo, yun po yung binabawal ng batas.

Pero base sa mga submission sa inyo, may paraan po ba kayo para malaman yung intensyon? Wala

po.

Okay. Attorney Irvin, your witness.

So, maaari po ba kayo magbigay ng mga halimbawa ng mga sitwasyon na na-encounter ninyo na kung saan na... Yung trust agreement ay ginagamit sa mga iligal na bagay o yung pag-a-appoint ng nominee. Let

me be the one, Atty. Justin, already answered in the case of the anti-dummy law according to the Witness Council.

Your Honor, I'm asking for specific examples for illustrative purposes,

Your Honor. If

Your Honor. If he knows. If you're aware of a specific example, Atty. Del Rosario?

Well, kung meron trust agreement, hindi ko po alam kung meron ganong agreement. Pero meron naman po talagang nababalita kahit na naging naimbestigahan nga rin po ng Senado about yung Napoles na ginamit yung pangalan ng mga driver to form a company. Pero siguro wala naman trust agreement on that.

At the same time, non-stock po yun. Kaya hindi ko may handula dito.

Ano po yung iligal na nangyari doon sa Napoles?

Objection, Your Honor. This is now irrelevant, Your Honor.

Move on, counsel. Move on, counsel.

We

get your point.

Thank you, Your Honor. Okay, so, sige, busisihin nga po natin yung documents nitong GenCorp Industries Incorporated. Puntahan po natin yung articles of incorporation ng GenCorp Industries Inc. And, Your Honor, we'd like to show to the witness the articles of this company. which was marked as the prosecution's exhibit P-R2-2-1-H.

Sir, I direct your attention to pages 4 and 5 of these articles of incorporation.

Pakisabi nga po, sino po yung lumalabas dyan sa listahan na pinakamalaking subscriber ng authorized capital stock ng kumpanyang Gencorp Industries Incorporated?

Ayon po sa Article 8 ng Articles of Incorporation and Bylaws ng Gencorp Industries, yung JTC Group of Companies Philippines Incorporated ang siyang may pinakamalaking subscription sa halagang 625,000 pesos po.

Iilan po yung kanyang sinubscribe na shares?

6,250 shares amounting to 625,000 pesos. Okay,

so that's for JTC Group of Companies Philippines Incorporated. Ngayon... Puntahan po natin naman yung general information sheet para sa taong 2025 para sa kumpanyang STILT, GenCorp Industries, Inc. And Your Honor, we would like to show to the witness exhibit P-R2-2-4-3-E.

Punta po kayo sa page 5 ng document na iyan.

Iyan po ay listahan ng mga directors slash officers. Tama po ba? Andiyan po kayo sa page na iyan.

Tama po.

Pakitignan nga po yung nakalista na number 2 dyan sa listahan ng directors slash officers. Ano po yung nakalagay dyan, sir?

Babasahin ko po yung nakasal sa number 2. JTC Group of Companies, PBL Building, Bolton Street, Davao City, represented by Jaime T. Cruz.

Kanina po nung dinedefine niyo po yung board of directors, akala ko po tao yung inyong dinedescribe. Pero bakit po dito mukhang kumpanya po yung nakalagay sa listahan ng directors? At anong ibig sabihin nito, sir?

Well, unang-una po hindi po nga kami ang nagbigay ng information dito kung bakit nag-appear ang pangalan ni JTC Group of Companies sa column ng mga director.

Pero ano po ang ibig sabihin na may nakalagay dyan na represented by Jaime T. Cruz?

Maaari siya po ang nagrepresenta sa kumpanya, sa JTC Group of Companies, sa GenCorp.

Okay, thank you. At ano po yung initials nitong si Mr. Jaime T. Cruz?

JTC po. JTC. Sige, thank you. Ngayon... Puntahan naman po natin yung audited financial statements.

Nabanggit niyo po kanina na ito ay required na i-file sa SEC annually. Tama po ba? Tama po. At ano pong mga requirements ng SEC sa pag-file ng audited financial statements para masabi na compliant ito?

Matapos po ang authorized filer na makakuha ng tamang account sa aming EFAST, yung authorized filer po na siyang magsasubmit ngayon ng report ng financial statement, ang SEC po ay merong dalawang titignan para tangkapin yung audited financial statement. Una rito yung pagtangkap, anong prueba o proof. that the financial statement ay natanggap na po ng BIR. At pangalawa po yung tinatawag na statement of management responsibility na nakapaloob sa loob na financial statement.

So may dalawa po kayo na hinahanap na documents, yung proof na nakapag-file sa BIR at yung statement of management responsibility. Tama po. Ano po yung hinahanap nyo na proof na nakapag-file na sa BIR? Nang audited financial statements ang kumpanya. Anong klaseng proof po yan?

Maari pong stamp naman galing sa BIR o ngayon po meron pong transmittal letter coming from BIR na sinasabing natanggap na nila yung financial statement.

Sige, tignan po natin yung audited financial statements ng GenCorp Industries Incorporated. And Your Honor, we would like to show to the witness. The 2024 Audited Financial Statements of GenCorp Industries Inc.

And this is Exhibit P-Roman numeral 2-2-6-3-D.

Pakitignan nga po yung Audited Financial Statements na yan. And meron po ba dyan proof na nakapag-file sila nung AFS or Audited Financial Statements sa BIR?

Meron po rin itong CP ng isang papel na nagsasabi na your BIR AFS e-submission uploaded were received.

Anong page po yung tinitignan natin sir? Nasa page 2 po. Nasa page 2.