THE House impeachment prosecution has raised serious questions over how a company with barely ₱60,000 in total assets could acquire a controlling 95‑percent stake in Cale88 Foods Corp., a firm linked to Vice President Sara Duterte’s husband, lawyer Manases “Mans” Carpio.
Prosecution spokesperson Ace Barbers revealed Wednesday that the reported buyer, Pikimong Pikimong Philippines Corp., declared just ₱59,836 in assets and ₱62,500 in capital in its 2024 financial statements — yet was listed in Cale88’s 2025 General Information Sheet as the new owner of the shares previously held by Carpio and another stakeholder.
Barbers pointed out that Pikimong Pikimong’s own books contain no record of such a major acquisition, despite the Anti‑Money Laundering Council reporting that ₱776.64 million flowed into Cale88 over a four‑year period.
“How could it purchase a company that received nearly ₱800 million?” Barbers asked, describing the transaction as akin to “a small fish swallowing a shark.” He also noted that Vice President Duterte herself continued to declare an interest in Cale88 in her 2025 Statement of Assets, Liabilities and Net Worth, suggesting the reported sale may not have reflected a genuine change in ownership.
Carpio previously held 47.5 percent of Cale88 and served as its president and board chairman. The transaction forms a key part of the prosecution’s inquiry under Article II, the sole remaining impeachment article, which alleges unexplained wealth, failure to accurately disclose assets, and prohibited business interests while in office. The prosecution will present further details when the trial resumes on November 9.
metrosundaily
