Heat oil in large skillet over medium heat. Add potatoes and onions; cook, stirring occasionally, until vegetables soften, about 10-15 minutes. Add garlic to pan, cook, stirring occasionally, until fragrant, about 30 seconds more.
Add cooking wine to pan; bring to boil. Stir tomato sauce and water; return to boil. Stir in pimientos, capers, raisins, Sazon and bay leaf; return mixture to boil. Gently add cod to pan; reduce heat to low. Simmer until sauce thickens to stew-like consistency, and fish is warmed through, about 20 minutes more.