Witness: Sara Duterte had no GenCorp stake, post from 2022 to 2025

MANILA, Philippines — The corporate counsel of GenCorp Industries Inc. on Wednesday testified that Vice President Sara Duterte had no shares or position in the corporation from 2022 to 2025.

GenCorp counsel Atty. Suzette Balucanag-Punay was called to the witness stand to testify on Duterte’s involvement in GenCorp and Metro City Chow Foods Corp.

Asked by defense counsel Justin Gular whether Duterte had shares or a position in GenCorp from 2022 to 2025, Balucanag-Punay repeatedly testified that the vice president held neither.

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“She has no stockholdings with GenCorp… She has no position,” she answered.

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READ: Analyst stands by VP Duterte’s 20% GenCorp interest

According to Duterte’s statements of assets, liabilities, and net worth for 2024 and 2025, she declared herself a stockholder of GenCorp. She also stated that the date of acquisition of her interest or connection began in 2013.

The defense also referred to the financial forensic report of the prosecution’s expert witness, Atty. Alexander Cabrera, who attributed a 20-percent interest in GenCorp to Duterte.

But Balucanag-Punay reiterated that Duterte was not a stockholder of GenCorp.

“I think it is incorrect… because you cannot attribute 20 percent to the vice president because she has no shareholdings in GenCorp,” Balucanag-Punay said. /mcm