Gwen is worth P102M; Mike Rama has P1.7M

CEBU, Philippines - Governor Gwendolyn F. Garcia’s net worth grew by P1.5 million to P102.3 million based on the Statement of Assets, Liabilities and Net Worth (SALN) that she submitted to the Office of the Ombudsman.

Last year, the governor’s net worth was P100.8 million.

She has a total of P88,565,895 in real properties that include a commercial building, agricultural and commercial lots as well as residential lot in Ormoc City and Cebu City.

She also owns a Mitsubishi Pajero worth P592,800.

She also has personal and other properties worth P61,874,012.

This comprise of cash on hand and bank accounts amounting to P193,330; furniture and antiques P5,400,000; jewelry P8,296,388; share in total assets of GGC enterprises (50%) P14,737,172 and share in total assets of GCC group (67%) P33,247,122.

Garcia’s liabilities amount to a total of P48,335,143.

This comprise of bank loans worth P31,706,067; accounts payable P9,723,671 and GSIS, PAG-IBIG loans P6,905,405.

Garcia has 15 relatives in the government service — her father Rep. Pablo Garcia, brothers, cousins, nephews, and a niece.

Meanwhile, Cebu City Mayor Michael Rama has a net worth of P1,765,081.

Rama listed no real properties among his assets and for personal and other properties he has a total of P2,765,031.

This comprise of cash in bank of P998,781.55; jewelry P75,000; investments totaling P300,000; furniture P250,000; shares of stocks P641,300 and a Honda City P500,000.

For liabilities, Rama has personal loans amounting to a total of P1,000,000.

Rama has four relatives working in the government.

Cebu City Vice Mayor Joy Augustus Young has net worth of P9,300,000.

Young has real properties totaling P6.5 million comprised of a house and lot in Cebu City, lot with shed in Guadalupe, and miscellaneous lots in Cebu, Lapu-Lapu and Talisay Cities.

For Young’s personal and other properties, he has a total of P2,800,000. This comprised of four vehicles.

Young has no liabilities. (FREEMAN)