MANILA, NOVEMBER 12, 2010 (STAR) By Michael Punongbayan - The public is expected to
monitor the wealth of President Aquino (photo left) considering that his predecessor, former president and now Pampanga Rep. Gloria Macapagal-Arroyo, had earned as much as P76 million during her nine years at Malacañang.

Mr. Aquino had submitted his Statement of Assets and Liabilities and Net Worth (SALN) to the Office of the Ombudsman after he assumed office and the documents showed that he is worth P50.194 million. His real estate property valued at P33.755 million includes a house in Quezon City, which he declared to be worth P13.8 million.

Mr. Aquino inherited the house and lot.

He also owns a residential lot in Antipolo, Rizal, which he also inherited and is now worth P12.2 million; another residential lot in San Juan (inherited) valued at P7 million; another residential lot in Tarlac (purchased) worth P604,680; and an agricultural land also in Tarlac (purchased) worth P116,588.

Under Personal and Other Properties, he listed motor vehicles as his most valuable assets valued at a little over P9 million, followed by investment in stocks in seven companies worth P4.774 million, and cash on hand and cash in bank declared in the amount of more than P3.635 million.

Mr. Aquino, who is a bachelor, has two relatives working in government – his aunt former senator Teresa Aquino-Oreta who now heads the office for Early Childhood Care and Development, and his aunt-in-law Margarita Cojuangco, president of the Philippine Public Safety College.

Mr. Aquino listed only one liability in the form of mortgage payables, amounting to P2.430 million.

Former president Arroyo had declared assets worth P66.7 million when she became president in 2001 after then President Joseph Estrada was ousted by a people’s revolt following allegations that he took kickbacks from illegal gambling operators.

Then president Arroyo listed only one liability in the form of a P3.5-million car loan from the Export and Industry Bank for the purchase of a Toyota Lexus.

Her value had increased while she was president and her assets included stocks worth P71.311 million and notes receivables worth P13.853 million.

Arroyo’s wealth based on her SALNs had increased from P66.7 million when she assumed the presidency in 2001 to P142.360 million as of June 30, 2010 when she stepped down from office.

The President of the Philippines receives an annual salary of P693,000 while the Vice President gets P554, 400 a year.

Binay worth P58.7 million

Vice President Jejomar Binay had declared his net worth at P58.762 million about a month after assuming office.

Based on his SALN submitted also to the Office of the Ombudsman, Binay reported real estate property worth P16.873 million, which includes a house and lot in San Antonio Village in Makati City worth P3.574 million, and seven other residential lots located in Makati, Muntinlupa, Batangas, Laguna, and Cavite.

Binay also owns three agricultural lots in Batangas, Bataan, and Isabela.

He declared his personal and other property at P41.884 million with cash at over P17.5 million. The vice president reported that he owns motor vehicles worth P1.567 million.

Binay said he has receivables worth P11 million; furniture, antiques, and clothing valued at P6.9 million; jewelry worth P1.1 million; and investments in the amount of P3.943 million with zero liabilities.

Binay’s predecessor, former vice president Noli de Castro who recently returned to ABS-CBN as news anchor, had declared assets worth P61.902 million when he stepped down from office.

De Castro’s SALN showed that since he was elected in May 2004 his value only increased by around P3 million each year until 2010.

Chief News Editor: Sol Jose Vanzi

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