Second of two parts
Part 1: Multi-million-euro Spain property links to Romualdez

The story involving a multi-million-euro mansion in Spain linked to former House speaker Martin Romualdez doesn’t end with lawyers, but now stretches across countries and high-profile figures.

The trail now leads to Malaysia.

CECIL PROPERTY PTE LTD,  the Singapore-based company that bought Villa Kabila, valued at around €6.5 million to €6.9 million (roughly P445 million to P472 million), lists two Malaysian shareholders in its corporate records. 

OWNER? Registration papers of the firm that bought the Sotogrande property shows the name of a Malaysian businessman.

Initially, someone named Yap Zi Jing held a stake in the company. On June 10, 2024, Yap transferred his share to businessman Johnathan Jaya Sudhir, who within days, or on June 19, acquired majority control of CECIL PROPERTY PTE LTD.

Johnathan Jaya Sudhir is listed in LinkedIn as the executive director of CXS Analytics and has professional ties to the Philippines. He also has had speaking engagements at the American Chamber of Commerce in the country. 

Rappler reached out to Johnathan Jaya Sudhir via email and LinkedIn but has not received a response. Questions were first sent to his company emails on December 19, with follow-ups on December 20 and 29, and January 9. Rappler has confirmed that the first and follow-up emails were opened by the recipient.

Beyond his corporate credentials, Johnathan is named in various media reports as the son of Jaya Sudhir Jayaram, a Malaysian businessman who has been repeatedly accused of being involved in alleged financial irregularities. 

REPORTS. Media reports mention the name of Jaya Sudhir Jayaram.

A 2023 court ruling in Singapore also identified the two as father and son. Additionally, separate Malaysian business records reviewed by Rappler indicate that they share the same registered address in Taman Pelangi, a neighborhood in Johor Bahru near the Singapore-Malaysia border.

A 2022 report by Malaysia’s The Edge mentioned Jaya Sudhir Jayaram in connection with alleged anomalous transactions. According to former Malaysian economic minister Rafizi Ramli, Jayaram had links to a company that received payments for purported “technical services” that were never rendered. 

Sri Lankan media reported that in November 2018, Jaya Sudhir Jayaram and his son were intercepted at the Bandaranaike International Airport while carrying $50,000 (P3 million). They claimed the cash was casino winnings but were unable to provide supporting evidence. The case reportedly did not proceed further due to what local reports described as substantial political pressure.

Jaya Sudhir Jayaram in the PH?

The name Jaya Sudhir has become familiar not only abroad but also in the Philippines. 

He was identified as the person who invited President Ferdinand Marcos Jr. and his family, including House Speaker Martin Romualdez, to the 2022 Singapore Grand Prix. Photos shared online showed the President, his son Ilocos Norte 1st District Representative Sandro Marcos, Romualdez, and Romualdez’s wife, Tingog Party-list Representative Yedda Romualdez, seated at a table with a name plate bearing the name “Jaya Sudhir.”

SINGAPORE. Screenshot of a journalist’s tweet shows the nameplate of Jaya Sudhir.

Sources familiar with the Malaysian business network confirmed to Rappler that the controversial Jaya Sudhir is the same individual referenced in Philippine media.

The Malaysian businessman was also reportedly involved in the company that purchased Davao businessman Dennis Uy’s stake in the restaurant chain Conti’s and Wendy’s Philippines, business people told Rappler.

According to a Philippine Daily Inquirer report, Uy’s shares in Eight-8-Ate Holdings Inc. were sold to Crystal Jacinto, owner of several businesses, including Villa Medica.

A Daily Tribune report in November 2023 described Jacinto as the wife of Jaya Sudhir. The article highlighted Jacinto’s birthday celebration, which was attended by several high-profile guests, including then-House speaker Romualdez.

SAME ADDRESS. Papers show that Crystal Jacinto’s Maxwell Invest PTE has the same address as CECIL PROPERTY, the firm that bought the Sotogrande property.

SEC documents list Jacinto as the deputy chairperson of Eight-8-Ate Holdings. The same records show that MAXWELL INVEST PTE, a Singapore-based company, owns 31.72% of the Eight-8-Ate Holdings. 

Singapore filings identify Crystal Jacinto as the director and majority shareholder of that company, which shares the same registered address as CECIL PROPERTY, the listed owner of the multi-million-dollar Spanish property.

The overlap does not end there. Jose Raulito E. Paras, the lawyer connected to the firm that shares an address with CECIL PROPERTY, is also listed as an officer of Eight-8-Ate Holdings.

Romualdez has also appeared at multiple events of Jacinto. Facebook posts show him attending and leading the ribbon-cutting ceremonies in at least two Villa Medica branches: one in Resorts World Manila in 2022 and another in Taguig City in 2023.

GUEST: Martin Romualdez and Crystal Jacinto attend each other’s events.

Jacinto, meanwhile, was a guest of Romualdez during his 60th birthday celebration. The then-House speaker, meanwhile, attended Jacinto’s birthday, as shown in a video of the event.

Jacinto was likewise present at the 2023 Singapore F1 event attended by Marcos and Romualdez, as shown in an Instagram post by actor John Estrada. She also attended the 2022 F1 event, with a TikTok video she posted showing the nameplate of her husband Jaya Sudhir.

In addition, Jacinto attended all annual State of the Nation Addresses from 2022 to the last one in 2025, as well as Marcos’ inauguration on June 30, 2022, according to her TikTok posts. 

F1. Instagram and TikTok posts show President Marcos, Martin Romualdez, and Crystal Jacinto at the 2023 Singapore F1 race, with Jacinto also attending the 2022 event MARCOS-JACINTO. Tiktok posts show that Crystal Jacinto attended President Ferdinand Marcos’ inauguration in 2022 and has been present at every State of the Nation Address since.

Rappler reached out to Crystal Jacinto through multiple channels, including two company email addresses, her Facebook pages, TikTok, and Viber. Questions were emailed to her two companies from December 16-22 and again on December 29, and a message was sent to her TikTok account on December 17. Emails to one of her companies have been opened.

On December 19, Rappler inquired through the Viber account of Jell Life by Crystal — a company she owns — for her contact details. A person who introduced herself as part of the staff responded, directing Rappler to send the inquiry to the company email. 

We asked if the letter could also be forwarded via Viber, and the staff member agreed. The letter was sent, and the staff acknowledged receipt, stating that they would forward it to Jacinto. 

Rappler also sent questions for Jaya Sudhir through Jacinto’s channels. 

We followed up on January 9 but still no response.

Rich Romualdez

The Romualdez family has long been associated with high-value assets in the Philippines and abroad, as well as with cases linked to ill-gotten wealth of the Marcos family. Martin Romualdez’s paternal aunt is the Marcos matriarch, Imelda.

Like his cousins, Romualdez maintained privilege and wealth even after the Martial Law era. In 1988, at age 25, he purchased a property in Massachusetts for $650,000, later transferring it for just $1 in July 2025 to a corporation led by a registered president with personal ties to him.

Romualdez’s net worth was reported at P475.6 million in 2016, according to the last public summary of House members’ finances. A 2023 Rappler report noted renewed activity in some of his little-known and previously dormant businesses, coinciding with the rise of his cousin Ferdinand Marcos Jr. to the presidency.

These, along with his wealth, have come under scrutiny following revelations of flood control anomalies and irregularities in the national budget.

HOUSE LEADER. Speaker Martin Romualdez graces the first meeting of the Visayas Caucus of the 20th Congress in the House of Representatives on August 7, 2025.

Romualdez resigned as House speaker in September, mentioning “deep reflection and prayer” and a “full heart and clear conscience.” This came after allegations from Orly Guteza, resigned lawmaker Elizaldy Co’s former security consultant, that he personally delivered luggage filled with cash to several Romualdez residences. 

One reported delivery to his Forbes Park home in Makati City included approximately 35 pieces of luggage, each allegedly containing between P48 million and P50 million.

Civil society group August Twenty-One Movement criticized the Marcos administration, saying that accountability will be meaningless unless action is taken against Romualdez.

“For sincere accountability, it’s Speaker Romualdez at a minimum or nothing!” the group said in a statement.

Will action be taken? – Rappler.com