Benise Balaoing

Pacifico and Cezarah Discaya, owners of St. Gerrard Construction Company, attend a Senate Blue Ribbon Committee hearing on the alleged ghost flood control projects at the Philippine Senate on September 8, 2025.
Mark Demayo, ABS-CBN News

Article (news)

Discaya

ABS-CBN News

<p>MANILA -- The Securities and Exchange Commission (SEC) has revoked the corporate registration of St. Timothy Construction Corporation and St. Gerrard Construction General Contractor and Development Corporation--companies owned by flood control contractors Curlee and Sarah Discaya. </p><p>In a statement, the SEC said the two companies submitted false beneficial ownership information.</p><p>The SEC noted that on September 1, Sarah Discaya told a Senate Blue Ribbon Committee hearing that she was the owner and an officer of St. Timothy and St. Gerrard.</p><p>But the SEC said that based on its records, Mrs. Discaya was not disclosed in the beneficial ownership declarations of St. Timothy from 2022 to September 2025, and of St. Gerrard from 2022 to 2024.</p><p>The agency said it has been issuing notices to the two companies as early as September, ordering them to pay a P2 million fine each.</p><p>In addition to this penalty, the SEC is also imposing an administrative fine of P1,000 per day of continuing violation. </p><p>The Discaya couple&#x27;s firms are among the top 15 awarded flood-control projects since 2022. </p><p>They are alleged to have benefited from the ghost projects that have prompted protests across the Philippines.</p><div><a href="https://www.abs-cbn.com/news/nation/2025/11/14/discayas-name-8-former-and-current-lawmakers-undersecretaries-in-flood-control-ledger-2233" rel="noopener noreferrer" target="_blank">Discayas name 8 former and current lawmakers, undersecretaries in flood control ledger</a></div><div><a href="https://www.abs-cbn.com/news/nation/2025/11/20/ombudsman-says-sandiganbayan-cases-vs-discayas-could-be-filed-on-friday-0001" rel="noopener noreferrer" target="_blank">Ombudsman says Sandiganbayan cases vs Discayas could be filed on Friday</a></div>

<p>The SEC has revoked the corporate registration of the Discaya-owned St. Timothy Construction Corporation and St. Gerrard Construction General Contractor and Development Corporation.</p>

The SEC has revoked the corporate registration of the Discaya-owned St. Timothy Construction Corporation and St. Gerrard Construction General Contractor and Development Corporation.

SEC revokes corporate registration of Discayas' St. Timothy, St. Gerrard

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SEC revokes corporate registration of Discayas' St. Timothy, St. Gerrard

Benise Balaoing,

ABS-CBN News

Published Dec 04, 2025 05:02 PM PHT

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Sarah Discaya

Curlee Discaya

Discaya

St. Timothy

St. Gerrard

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