Department of Public Works and Highways (DPWH) Secretary Vince Dizon on Wednesday revealed that Ako Bicol Party-list Rep. Zaldy Co, one relative, and another contractor own aircraft assets valued at nearly ₱4.7 billion.

During a press conference at the DPWH head office in Manila, Dizon said the Civil Aviation Authority of the Philippines (CAAP) reported 11 registered aircraft linked to Co through several corporations, including Misibis Aviation & Development Corp., BCBS Aviation, Hi Tone Construction Development Corp., and QM Builder.

Among the reported assets are a Bell 206B3 helicopter worth $650,000, a Bell 407 priced at $3 million, an AgustaWestland AW139 at $16 million, and a Gulfstream G350 jet valued at $30 million.

“So total of 4.7 billion pesos value of air assets ni Congressman Zaldy Co registered to various companies outlined here,” Dizon said.

“Para tulungan natin ang imbestigasyon ng ICI at ng DOJ, susulat na po kami ngayon dahil nagpadala na po ng sulat ang CAAP sa amin, si General Rodolfo Rosario, sa 11 registered air assets ni Congressman Zaldy Co,” he stressed.

Dizon disclosed that he formally requested the AMLC to freeze the assets, citing an earlier request from Department of Justice (DOJ) Secretary Jesus Crispin “Boying” Remulla and the National Bureau of Investigation (NBI) for a freeze order.

The DPWH chief also said that he had informed the Department of Justice (DOJ) and the Independent Commission for Infrastructure (ICI) about Co's aircraft assets.

“So, we have also written [to] the AMLC, the DOJ, and also the ICI informing them about this. And we will leave it up to them to what to do with these assets,” Dizon said.

This development comes as part of an ongoing investigation into flood control projects, where government contractor Sarah and Curlee Discaya alleged that Co, along with former House Speaker and Leyte Rep. Martin Romualdez, received 30% kickbacks from infrastructure contracts, particularly in flood control initiatives