GMA  NET  WORTH  NOW  IS  P88.58 MILLION,  NOLI  IS  WORTH  P52,305,801.25

MANILA
, JUNE 15, 2007 (STAR) By Sandy Araneta - President Arroyo’s net worth grew by P9.3 million from P79.28 million in 2005 to P88.58 million last year, based on her statement of assets, liabilities and net worth (SALN).

The President filed her SALN on April 30 with the Office of the Ombudsman, a copy of which was obtained by The STAR.

Vice President Noli de Castro, meanwhile, has a net worth of more than P52 million, as shown in his SALN filed last March 30.

The President’s current net worth was listed at P88,588,172.93. In 2005, it was declared at P79,284,608.64.

The President’s net worth has increased by 30 percent or about P20 million since she assumed office in 2001 when her reported net worth was P66,747,103.36. Her annual salary is P693,000.

Accounting for the bulk of the President’s net worth as of Dec. 31 are “personal and other properties” acquired in various years valued at P85,868,138.58.

She declared her real properties at P6,367,837.

On the other hand, Mrs. Arroyo declared liabilities in the form of “notes payable” of P3,647,802.65.

The net worth is calculated by adding the amount of real properties, personal and other properties, and subtracting the amount of liabilities.

Of the personal and other properties she declared in her SALN, stocks amounting to P55,705,510.06 had the highest value.

Her “cash on hand” and “cash in bank” amounted to P11,228,872.52. Jewelry worth P3,400,000 were listed, as were appliances and furniture in the amount of P2,050,000; “law books and other books” (P1,700,000); motor vehicles (P6,875,476); office equipment (P995,800); “inherited properties in process of transfer” (P1,412,480); and “notes receivable” (P2,500,000).

Mrs. Arroyo declared as one of her real properties a house and lot in Baguio, which was acquired in 1977 for P350,000. The house and lot had a cost improvement of P645,287, her SALN showed, and this property now has a current fair market value of P67,913,200.

Other properties listed in her SALN were: a residential lot in Antipolo acquired in 1986 for P94,000 with a current fair market value of P1,750,000; a commercial lot in Tayabas, Quezon acquired in 1995 for P1.5 million now valued at P2,400,000; an agricultural lot in San Rafael, Bulacan acquired in 1995 (P1,178,550) now worth P4.7 million; another agricultural lot in Nasugbu, Batangas acquired in 1997 for P550,000 with a current fair market value of P1.5 million.

The latest acquired property in her SALN was a parcel of “raw land” in Coron, Palawan purchased in 2005 at P2,050,000. No current fair market value was indicated.

The President declared she has “no business interest nor other financial connections, including those of her spouse and unmarried children below 18 years old living within her household.”

She also declared that five of her family members or relatives are working for the government. They are: son Pampanga Rep. Juan Miguel Arroyo; brother-in-law Negros Occidental Rep. Ignacio Arroyo Jr.; sister-in-law Ma. Lourdes Arroyo, listed as personal secretary III in the House of Representatives; cousin Erlinda M. B. de Leon, a confidential secretary in the Office of the President (OP); and cousin-in-law Carlos de Leon, a special assistant in the OP.

In 2002, the President posted a net worth of P72,048,559.88, which increased to P75,697,687.45 the following year.

Noli’s worth

For his part, Vice President Noli de Castro, whose real name is Manuel de Castro Jr., has a net worth of P52,305,801.25.

De Castro, former vice president for current affairs at ABS-CBN Broadcasting Corp., is married to Arlene de Castro. He has a monthly salary of P46,200.

De Castro’s real properties are worth P35,945,801.25, while “personal and other properties” amounted to P20,860,000.

He declared liabilities of P4,500,000.

Among the properties listed in his SALN are houses and lots in Lagro, Novaliches (P40,000) which underwent improvements worth P200,000, and in Tierra Pura Homes, Tandang Sora (P3.5 million) with improvements costing P6 million.

Lots in San Jose del Monte, Bulacan (P2,731,440), Mindoro (P300,000), and Forest Hills, Antipolo (P3,832,500) were listed, plus a house in San Jose del Monte built in 2003 with improvements of P3,000,000.

He also declared a house and lot in Barangay Pasong Tamo, Quezon City (P1,400,000), and in San Antonio Heights, Batangas (P695,000).

In 2004, De Castro purchased a house and lot in Barangay Pasong Tamo, Quezon City for P7,743,371.25. The following year, he acquired another house and lot there for P6,503,490.

For his personal and other properties, the Vice President declared the following: Jewelry (P1,220,000), appliances and furniture (P2,060,000), “paintings and artworks acquired in 2006” (P180,000), motor vehicles namely a Suburvan (P2.9 million) and a Ford Expedition (P2.5 million), both acquired in 2004.

Shares of stocks in ABS-CBN acquired in 1986 were worth P1 million.

His “cash in bank” acquired in various years amounted to P11 million.

De Castro’s liabilities come from “outstanding loans from non-financial institutions” worth P4.5 million.

De Castro also declared two business interests and financial connections: ABS-CBN, where he bought shares of stocks (preferred) in 1986; and Bayan Productions Company, Inc., where he has been on the board of directors since 1988.

De Castro declared five relatives working for the government. They are: brother-in-law Zacarias Catapang, a Sangguniang Bayan member in Socorro, Oriental Mindoro; nephew Dr. Grimaldo Catapang, provincial veterinarian based in Calapan, Oriental Mindoro; niece Veronidia Catapang, who works for the Department of the Interior and Local Government–NCR in Quezon City; niece Dr. Florecita Catapang, revenue collection officer based in Socorro, Oriental Mindoro; and, niece Janice Anne Pasco, who works in the Office of the Vice President.

All government employees and officials are required to file their SALN annually. These statements are intended to track the accumulation of wealth by public officials, and have recently been used in the lifestyle checks on customs, public works and highways, and internal revenue employees.


Chief News Editor: Sol Jose Vanzi

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