A businessman appointed by former president Rodrigo R. Duterte as special envoy to China surfaced Tuesday in the Senate impeachment court’s effort to determine who ultimately controls GenCorp Industries Inc., a company declared by Vice President Sara Z. Duterte in her Statements of Assets, Liabilities and Net Worth (SALNs).
Senator-judge Erwin Tulfo traced the name of Jaime Tan Cruz across several corporations whose records were presented by prosecution witness Gerardo del Rosario, director of the Securities and Exchange Commission’s (SEC) Company Registration and Monitoring Department.
Del Rosario confirmed that Cruz’s name appears in the records of City Hall King Chow Foods Corp., Metro City Chow Foods Corp., Great Jolly Times Food Corp., Davao New Royal Taipan Foods Corp., Davao Emerging Taipans Corp. and Davao Bounty Times Food Corp.
Tulfo then turned to JTC Group of Companies, which owns a controlling stake in GenCorp.
“Itong JTC Group of Companies, ito po ba ‘yung ibig sabihin po ng JTC is Jaime Tan Cruz (Does JTC in JTC Group of Companies stand for Jaime Tan Cruz?)” Tulfo asked.
Del Rosario said the SEC records before him do not establish that connection.
“Wala pong disclosure sa Articles of Incorporation under the corporate name na (There is no disclosure in the Articles of Incorporation that( JTC stands for Jaime T. Cruz,” he said.
Tulfo subsequently asked the House of Representatives prosecution panel whether the Jaime Tan Cruz appearing in its investigation was the same person appointed by former president Duterte as special envoy to China for trade and investment.
“Yes, Your Honor. The same name, Your Honor,” House private prosecutor Erwin Matib said.
When Tulfo later asked whether they were referring to “one and the same person,” Matib replied: “Yes, Your Honor.”
The inquiry took on greater significance when Senator-judge Francis Pangilinan established that JTC Group owns 54.99 percent of GenCorp based on the latter’s 2025 General Information Sheet.
Del Rosario confirmed that the stake makes JTC the majority shareholder and said such ownership could provide substantial influence over the company’s board and corporate decisions.
But the natural persons who ultimately own or control JTC remained unresolved during the testimony.
Del Rosario said corporations are required to submit Beneficial Ownership Declaration forms identifying their ultimate beneficial owners, but those records are not under the custody of his department.
“Sinusumite po yan sa SEC pero wala po sa aming pangangalaga sa aking departamento ang kopya na ‘yan (Those are submitted to the SEC, but copies are not under the custody of my department),” he said.
Pangilinan said following the ownership chain behind JTC could help clarify who exercises ultimate control over GenCorp.
“We must know who JTC is, who the stockholders are of JTC because they ultimately control, or at least through, I mean, GenCorp,” Pangilinan said.
He raised the possibility of subpoenaing JTC’s corporate documents, but presiding officer Francis Escudero said the court would wait for formal action from the prosecution.
“The Chair will take it under advisement and shall await action emanating from the panel of prosecutors,” Escudero said.
The ownership trail has become relevant because Duterte listed GenCorp as a business interest in her 2024 and 2025 SALNs, while SEC records reviewed by Del Rosario do not show her name as an incorporator, director or stockholder of the company.
The court has yet to see JTC’s beneficial ownership records, leaving unresolved whether the corporate trail identified during the proceedings establishes any further connection amonf Cruz, JTC and Duterte’s declared interest in GenCorp.
SALN, SEC Records Differ On 3 Firms
Meanwhile, a single word in Duterte’s 2024 SALN opened a new line of questioning after three companies grouped in her declaration were in separate corporations as per SEC records.
Escudero zeroed in on Duterte’s entry for GenCorp, which described it as “formerly” Times Square B Food Corp. and Great Jolly Times Food Corp.
Escudero asked Del Rosario how he would understand the entry as an SEC official.
“Kung makikita ko po ito, isipin ko na ito ‘yung dating pangalan ni GenCorp (If I saw this, I would think these were GenCorp’s former names),” Del Rosario said.
But the SEC records told a different corporate history.
“May kanya-kanya po siyang (They each have their own) juridical personality,” Del Rosario said when Escudero checked the three companies against the agency’s records.
Escudero then asked directly whether GenCorp, Times Square B Food and Great Jolly Times Food were three different corporations.
“Tama po. Tatlong kumpanya, may kanya-kanyang personalidad (Correct. They are three companies, each with its own personality),” Del Rosario replied.
The witness also confirmed that the SEC had no record showing Times Square B Food or Great Jolly Times Food was a former corporate name of GenCorp, or that GenCorp succeeded or replaced either company.
Del Rosario said Duterte’s 2024 SALN identified her as a stockholder of the companies, but her name did not appear as an incorporator or stockholder in the SEC records he reviewed for GenCorp and Times Square B Food.
The exchange prompted Escudero to ask how a person could declare a corporate interest in a SALN while not appearing as a shareholder in the corresponding SEC records.
Del Rosario said one possible explanation could be a trust arrangement in which another person holds the shares on behalf of the beneficial owner.
Another possibility, he said, is indirect ownership through a corporate shareholder controlled by the person making the declaration. (PNA)