During her impeachment proceedings, Vice President Sara Duterte's ties to Jollibee surfaced, revealing that Gencorp Industries Inc., in which she holds a stake, operates at least five Jollibee branches in Davao City.
Jollibee Branches Linked to Sara Duterte
Receipts presented during the trial on October 9 confirmed Gencorp's ownership of these outlets, prompting questions about potential conflicts of interest, especially in light of Gencorp's lucrative contracts with the Davao City government.
The reason why I think VP Sara included Gencorp in her SALN is because its value is huge.
Alexander Cabrera, Financial Forensic Analyst
In 2022, Gencorp secured millions in contracts coinciding with Sara Duterte's ascent to the vice presidency and her brother Sebastian's election as Davao City mayor, raising eyebrows regarding the influence of political connections on business dealings.
While Duterte disclosed her ownership in Gencorp in her Statement of Assets, Liabilities, and Net Worth (SALN), her name is absent from the company's Securities and Exchange Commission documents, sparking further intrigue.
Cabrera noted that establishing a Jollibee franchise requires a substantial investment, estimating costs between P35 million to P50 million. He suggested that Gencorp's financial activities indicated a staggering P1.1 billion in undeclared wealth.