In a recent impeachment trial for Vice President Sara Duterte, Senator-Judge Joel Villanueva raised concerns regarding the financial performance of Caleb88 Foods Corporation. According to the company's 2024 Audited Financial Statements (AFS), the business reported over PHP 150 million in sales while only employing two staff members. This information prompted skepticism about how such significant sales could be generated with such a limited workforce.
The report indicated that while Caleb88 Foods had impressive sales of PHP 150.76 million for the year 2024, it also recorded a loss of PHP 6.13 million. Senator Villanueva emphasized the paradox of a thriving business operation with a mere two employees, questioning the feasibility of the company's operations under these circumstances.
"This is alarming, Your Honor. You’re looking at a company with PHP 150 million in sales and PHP 6.13 million in losses, yet only two employees?" Villanueva commented during the proceedings. His remarks highlighted the difficulties in understanding the operational structure of Caleb88 Foods given the reported figures.
Anne Loraine Garcia-Marquez, Chief of Staff for the Bureau of Internal Revenue (BIR), supported Villanueva's skepticism, stating that such a business model seemed nearly impossible unless the company operated in a highly automated or machine-driven manner.
Additionally, Senator-Judge Francis “Kiko” Pangilinan noted that Caleb88 Foods declared salaries and wages of only PHP 1.227 million for 2024, which averages roughly PHP 97,000 per month for the two employees. This further raised questions about the corporation's financial practices and how it managed to achieve those sales with such minimal staffing.