Zaldy Co’s rise from a local builder to a prominent political figure demonstrates how wealth and politics can become corrupting influences. Once celebrated as a Bicolano tycoon known for his construction company that improved highways and bridges, he later became the House appropriations committee chairman, overseeing the country’s budget. However, behind this success is a history marred by conflict and profiteering, illustrating how public office can be exploited for personal gain and revealing the lucrative nature of such pursuits.
His sudden removal as appropriations chair in January 2025 was attributed to “health reasons.” Still, right after passing the most contentious budget in recent memory, the timing feels hollow. Weeks earlier, Co played a key role in drafting an allocation package that caused uproar over its lack of transparency and questionable priorities. Far from a retreat, his exit appears to be a strategic move by a tactician under pressure.
Sunwest Construction and Development Corporation (SCDC), the foundation of his business empire, has been the leading contractor for multi-billion-peso government projects. Sunwest’s name has been linked to scandals, from river dredging monopolies that suppressed competition to the notorious supply of overpriced, outdated Department of Education laptops. These are not isolated mistakes but a pattern of public contracts turning into private windfalls.
SCDC’s shift to medical supplies significantly boosted its revenues when the pandemic hit. In 2022 alone, personal protective equipment sales, with a 40 percent gross profit margin, comprised nearly 18 percent of its ₱11.694 billion total. (How can a construction company be involved in bidding for medical supplies?) What started as a public health necessity turned into another way for Co to increase profits, highlighting how crises often widen the gap between those who serve and those who profit.
Long before PPE deliveries, Sunwest’s construction division was a major player. By 2009, it ranked as the fifth-largest contractor for the Department of Public Works and Highways, and from 2016 to 2024, it secured at least ₱38 billion in DPWH projects nationwide. In Bicol alone, the firm earned over ₱5.7 billion worth of work in 2024, with extensions into Calabarzon, Western Visayas, MIMAROPA, and Eastern Visayas. These regions are often linked to Co’s political alliances.
However, the main issue fueling outrage is the apparent conflict of interest. In 2019, Co publicly announced that he divested from Sunwest before taking his party-list seat, claiming he fully complied with ethics laws. However, the hidden issues still lingered. Media reports show that he secretly maintained stakes in affiliate companies under the Sunwest umbrella, which continue to secure government contracts. Any semblance of separation quickly fades when weighed against these ongoing ties.
His political ascent is mainly linked to Speaker Martin Romualdez and FPRRD, whose publicly known connections with Co reveal a wider network of patronage. The three have attended major ceremonies together, demonstrating unity even as concerns about corporate interests’ influence on policy grow. Accountability is often overlooked when financial power and politics intersect.
The clash with Senator Joel Villanueva in early 2024 hurt Co’s credibility. During a heated debate over charter change, Villanueva reminded the nation that Co’s Sunwest empire was tied to the Pharmally probe and the DepEd laptop scandal. “You appointed Dracula as the guardian of the country’s blood bank,” Villanueva quipped, yet the grim joke highlights a deep betrayal of public trust. (But look who’s talking?)
In a democracy that values transparency, Co’s selective engagement with the media only worsens the damage to his legacy, if you can even call it that. The public deserves more than scripted denials; they want honest answers.
If representative democracy is to have real meaning, it must stop mixing private profit with public service. Zaldy Co’s story isn’t just about one man’s downfall but also warns about corruption when ethics are ignored. Let the Senate hearings’ exposé serve as a strong call for the necessary reforms: laws should be enforced, conflicts managed, and the public treasury should benefit the many, not the few.
Only then can the promise of good governance genuinely be realized beyond just a headline.