Senator Panfilo Lacson failed to declare in his 2025 SALN his year-long stint as independent director of billionaire Enrique Razon Jr.’s Prime Infrastructure Capital Inc., even as his declared wealth soared from ₱58.7 million in 2022 to ₱244.9 million in 2025—a fourfold jump that unfolded while the Razon-owned conglomerate was securing government approvals for massive energy, water, and flood-control projects.
Prime Infra, incorporated in 2017, is Razon’s flagship infrastructure arm, owning and operating strategic assets in energy, water, and waste management. Its portfolio includes the Malampaya gas project (through Prime Energy), the Wawa bulk-water and dam system under MWSS, and the Wawa and Pakil pumped-storage hydropower plants, both certified as energy projects of national significance. The conglomerate also runs Prime Integrated Waste Solutions in Cebu City and maintains projects in water, waste, and environmental infrastructure. Positioned at the center of the Marcos administration’s public-works push, Prime Infra has branded its expanding portfolio as a “sustainable solution” to the country’s energy and water crises—anchoring itself as one of the most influential private players in state-approved infrastructure.
As an independent director, Lacson’s duties would have centered on governance, compliance, and risk oversight—roles that involve ensuring adherence to regulatory and ethical standards. In a company dealing directly with government approvals and public–private projects, that position would have given him visibility into how billion-peso ventures like Malampaya and Wawa were being pursued and managed.
While there are few public references to Lacson’s stint with the company, his profile on Inquirer VotePH 2025, released during the recent election coverage, lists him as independent director of Prime Infra from July 2022 to 2023. This entry aligns with a BusinessWorld report dated January 23, 2023, announcing Prime Infra’s updated board composition that included Lacson. Despite these records, the certified true copy of his 2025 SALN—filed under oath and obtained from the Senate Secretariat—makes no mention of Prime Infra or any of its affiliates, listing only minor agri-farming and aqua-venture corporations.
By the time Lacson joined its board in July 2022, Prime Infra was already riding momentum from earlier ventures like the MWSS-approved Wawa Bulk Water Project and its pending Malampaya acquisition. But since Lacson’s appointment, Prime Infra has secured a rapid succession of government green lights that transformed it from an emerging player into one of the country’s most entrenched infrastructure conglomerates.
Between 2022 and 2024, Prime Infra secured a series of major government approvals that cemented its position in key national infrastructure sectors. In October 2022, the Department of Energy (DOE) approved Prime Infra’s takeover of Shell’s 45% stake in Service Contract 38 (Malampaya), followed by President Marcos Jr.’s renewal of the Malampaya contract to 2039 in May 2023, ensuring Prime Infra’s continued control of the gas field through Prime Energy. During the same period, the Metropolitan Waterworks and Sewerage System (MWSS) validated the operation of the Upper Wawa Dam and its pumping stations, allowing commercial delivery to Manila Water. By April to May 2024, the Board of Investments (BOI) and the DOE had granted green-lane and national-significance status to Prime Infra’s Wawa (600 MW) and Pakil/Ahunan (1,400 MW) pumped-storage hydro projects. The company also expanded into solid waste management with its January 2023 acquisition of ARN Central Waste Management Inc. in Cebu, which it rebranded as Prime Integrated Waste Solutions, as reported by BusinessMirror on January 25, 2023.
Each of these projects required state consent or facilitation, marking the period of Prime Infra’s steepest expansion as Lacson quietly sat on its board.
The senator has attributed his sharp rise in assets to “legitimate and successful real-estate and trading ventures.” However, under Republic Act 6713, all public officials are required to declare their assets, liabilities, and business interests, including any positions held in private corporations, whether compensated or not. The law defines “business interests and financial connections” as any existing or pending ownership or participation in a private enterprise. An independent directorship in a corporation falls squarely within that definition.
Failure to disclose such a position in a Statement of Assets, Liabilities, and Net Worth (SALN) constitutes a violation of Section 8 of RA 6713, which mandates full and truthful disclosure. Both the Civil Service Commission and the Office of the Ombudsman recognize omission or misrepresentation in a SALN as an administrative and potentially criminal offense, punishable by suspension, dismissal, or criminal charges for falsification of public documents under the Revised Penal Code.
Lacson could argue that his role as an independent director at Prime Infra ended before the period covered by his 2025 SALN, so there was no obligation to declare it. He might also point out that the position was purely advisory, without ownership, decision-making authority, or managerial control, and therefore did not constitute a substantial financial interest. He could add that his association with Prime Infra had already ended when he chaired the Senate Blue Ribbon Committee, which means there was no active conflict of interest. The law, however, requires the disclosure of all directorships, even those without compensation, as part of transparency obligations for public officials. Under the Code of Conduct and Ethical Standards for Public Officials and Employees, conflict of interest is defined broadly to include potential influence, not just actual misconduct. A claim of good faith may also be raised, but full disclosure remains the standard expected of those in public service. While Prime Infra is not under investigation, its role as a major government contractor makes any undeclared past affiliation a matter of public interest and accountability.
Lacson’s non-disclosure of his role as independent director in a company that engages in government projects is ironic since the same conflict-of-interest angle surfaced in the Senate when questions were raised about the credibility of his Blue Ribbon Committee chairmanship rival Senator Rodante Marcoleta. The controversy stemmed from Marcoleta’s push to include Pacifico “Curlee” Discaya and his wife Sarah Discaya in the Witness Protection Program without the requirement of restitution. Then-Justice Secretary and now Ombudsman Crispin Remulla had earlier insisted that restitution be made before the Discayas could be admitted. Marcoleta was accused of trying to absolve the couple of restitution, even though his stand was consistent with the law.
The Witness Protection, Security and Benefit Act (Republic Act 6981) does not list restitution as a requirement for admission. Restitution can only be ordered by a court through a separate proceeding, and only a judge can determine the amount.
On September 23, during a Senate hearing, Lacson questioned Marcoleta’s stance and asked, “Why are you so protective of the Discayas?” Five days later, on September 28, Bilyonaryo.com published a report linking Edna Marcoleta, the senator’s wife, to insurance companies used by contractors associated with the Discayas. Representative Paolo Marcoleta, the senator’s son, said his mother’s position as an independent director in those companies did not create any conflict of interest, stating, “My mother, Edna Marcoleta, is not a co-owner, not a regular or inside director, but an independent director of Stronghold Insurance. My mother holds no material ties, no substantial shares, is not involved in sales or marketing, and maintains no significant professional relationships with the company or its stakeholders.”
On September 29, during a live phone interview on Abante Radyo, Senator Marcoleta went on air to address the issue with Marlo Dalisay, who previously served as Lacson’s media relations officer. The discussion turned tense after Dalisay pressed the senator to exercise delicadeza regarding his wife’s role. As the interview ended, Marcoleta was heard saying “tanga,” after which the call was terminated. Abante Radyo later released an official statement and apology for the incident.
Abante Radyo and Bilyonaryo.com are both operated under Prage Management Corporation, which also manages the Abante newspaper group.
