The congressman and the billions: Tracing the power of Zaldy Co
ELIZALDY “ZALDY” CO composite image from Inquirer file/stock photos
(This report was updated on Sept. 24, 2025 to reflect DPWH data as of Aug. 30, 2025. Figures in the “Total Contract Value” section have been revised, replacing numbers previously based on July 2025 data.)
(Part 1 of 2)
MANILA, Philippines — In the aftermath of a typhoon, when floodwaters swallowed barangays and roads turned into rivers, one name kept surfacing — not just in congressional hearings, but in construction sites, budget files, and social media fury: party list Rep. Elizaldy “Zaldy” Co (Ako Bicol).
For many in Bicol, he’s known as the businessman-turned-lawmaker who built roads and bridges across the region. But in Manila’s power circles, he is now more infamously recognized as the man whose companies — past and present — have raked in billions from the government’s flood control program, even as floodwaters continue to rise.
The Inquirer follows the story of how Zaldy Co rose from local contractor to one of the most politically and financially influential lawmakers in the country — and why his empire of influence is now under scrutiny.
From contractor to congressman
Elizaldy “Zaldy” Co, born on December 8, 1970, entered public office relatively late — but with formidable backing.
Before stepping into the political spotlight, Co made his mark in the business world. In 1997, he co-founded Sunwest Construction and Development Corp. (SCDC) in Albay with his brother Christopher “Kito” Co. The company started small, but steadily grew into a regional heavyweight, eventually rebranding as Sunwest Inc. and expanding into real estate, energy, and tourism.
READ: Marcos bares 15 contractors bag P100-B flood control deals: ‘Disturbing’
ELIZALDY “ZALDY” CO composite image from Inquirer file/stock photos
It was Christopher who first entered Congress as a representative of the Ako Bicol party-list. By 2019, Zaldy had taken over the role, assuming office in the House of Representatives and quickly rising in influence. On July 25, 2022, he was appointed chairperson of the powerful House Committee on Appropriations — a position he held until January 13, 2025, when mounting controversies forced his departure.
READ: Co steps down as House appropriations chair due to health reasons
His rise in politics ran parallel to the exponential growth of Sunwest’s government deals.
The Bicol flood control boom
DPWH data as of Aug. 30, 2025—analyzed by INQUIRER.net’s INQFocus team—show Sunwest Inc. and its joint ventures were awarded ₱86.1 billion in government infrastructure contracts from 2016 to 2025.
Nearly half of these — ₱40.2 billion — were awarded in Region V (Bicol), where Co’s family maintains deep political and business roots. Region IV-B (Mimaropa) followed closely with ₱32.9 billion.
READ: Solon says no P9 billion flood control budget for Bicol
Graphics by Ed Lustan/Inquirer.net.
In 2022, the first full year under President Ferdinand Marcos Jr., Sunwest saw its biggest spike yet, with ₱16.9 billion in project contracts. The momentum continued into 2023 and 2024, cementing the Co family’s stronghold in Bicol’s infrastructure rollout.
READ: Villanueva to DPWH: Where did P61.42-B flood control budget for Bicol go
This unprecedented inflow of public funds earned Sunwest the title of top flood control contractor from July 2022 to May 2025, according to the Malacañang-backed Sumbong sa Pangulo report. In that period alone, Sunwest bagged ₱10.15 billion in contracts across 79 flood-related projects.
Sunwest: From roads to riches
Sunwest’s rise wasn’t overnight. A report by the Philippine Center for Investigative Journalism (PCIJ) found that in the early 2000s — under the Arroyo administration — the company ranked 8th among top DPWH contractors, securing ₱2.7 billion in contracts.
Graphics by Ed Lustan/Inquirer.net
Under Marcos Jr., however, Sunwest’s flood-control contracts ballooned by 272 percent — from ₱2.7 billion to over ₱10.1 billion. Another Co family firm, Hi-Tone Construction and Development Corp., founded by Zaldy’s brother Christopher, also saw a 74 percent boost in flood-control allocations compared to its contracts under the Arroyo administration.
READ: PCIJ: Discayas got whopping P31B in gov’t deals in last 3 years, Cos got P15B
An INQUIRER analysis — based on an earlier version of the DPWH data — showed Sunwest’s primary business has remained consistent over the years:
- Roads: ₱37.8B (44%)
- Flood Control: ₱33B (38%)
- Road + Bridge: ₱11.1B (13%)
- Other works (bridges, ports, buildings): <5%
The questionable divestment
Co has long maintained that he has severed all ties with Sunwest. In 2022, he declared that he and his family had “no longer [been] affiliated or shareholders in Sunwest Construction and Dev’t Corp. since 2019.”
But corporate records tell a different story.
The Right to Know, Right Now Coalition found that Co’s wife, Mylene Co, remains an incorporator of Sunwest Care Foundation Inc. as of April 2024. The foundation is explicitly supported and funded by Sunwest Group Holdings Inc. — the same conglomerate Co claims to have exited.
“[Sunwest Care Foundation Inc.] is an organization engaged in various social development activities whose main objective, among others, is to provide support and assistance to needy families and communities within the business operation and development of Sunwest Group Holding Company, Inc.,” the foundation’s website states.
Investigative reports from PCIJ and other media outfits further indicate that Co maintains beneficial ownership in Sunwest-linked entities — including those in tourism and real estate. Despite the public disavowal, these reports stressed that he appears to still be tied to the company he built.
Billionaire bloodlines
The Co family’s entanglement with infrastructure money extends far beyond Zaldy.
His brother, Christopher Co, is listed as the founder of Hi-Tone Construction — another top DPWH contractor. Their sister, Albay Vice Gov. Farida Co, is reportedly connected to FS Co Builders and Supply.
Graphics by Ed Lustan/Inquirer.net
According to PCIJ, from 2022 to 2025 alone, Sunwest, Hi-Tone, and FS Co Builders collectively secured ₱15.7 billion in government contracts across 149 projects.
READ: Flood of plunder: Billions paid for projects existing only on paper
Meanwhile, the next generation of Cos has drawn public ire online. Former BHW Party-list Rep. Natasha Co and content creator Claudine Co, daughters of Christopher, became symbols of elite impunity, dubbed by netizens as part of the country’s new class of “nepo babies.”
Viral videos of luxury vacations, expensive bags, and opulent gatherings ignited backlash, particularly after President Marcos publicly condemned officials and contractors profiting from flood control while ordinary Filipinos remained drenched in murky water.
READ: Narcissistic disorder: The psychology behind nepo babies
INQUIRER has made multiple efforts to contact Rep. Elizaldy Co and his office for comment. As of writing, no response has been received.
(Next: Zaldy Co in the eye of the flood control super typhoon — from budget insertions to Senate hearings, ghost projects, and growing calls for accountability.)
