Gwen is richest Capitol official

CEBU, Philippines - Suspended Cebu Governor and Congresswoman-elect Gwendolyn Garcia is the richest Capitol official based on her latest Statement of Assets Liabilities and Net worth submitted to the Office of the Ombudsman.

Garcia’s net worth increased by over a million from her 2011 SALN.

Based on the submitted SALN of Garcia her net worth as of December 31, 2012 is P105,198,700. Her previous net worth was P104.1 million.The net worth or actual wealth is a computation on one’s total assets minus their total liabilities.

According to Garcia’s SALN, she has a total assets of P158,666,117. These include real properties like residential building, and agricultural and commercial lots in Ormoc City. These were acquired in 1994 to 1997 which current fair market value is pegged at P78,523,095.

Other real properties include a residential lot in Cebu City that has a current fair market value of P9,450,000, and a Chevrolet car purchased in 2003 at P900,000.

Garcia also owns personal properties like jewelry amounting to P8,596,388; furniture and antiques valued at P2,350,000, and her share in total assets in GGC Enterprises and GGC Group at P24,269,261 and P34,479,261, respectively. Plus the P981,212 cash in hand and in bank accounts.

Garcia listed a total liabilities amounting to P53,467,417. Her liabilities include bank loans, accounts payables, GSIS and PAG-IBIG loans.

Also in her SALN, Garcia listed 14 relatives within the fourth degree of consanguinity who are currently working in the government.

Acting Governor and Vice-governor-elect Agnes Magpale also posted an increase in her assets. From P54.9 million in 2011 she now has a total net worth of P56,733,333.

These include agricultural, residential, commercial and mixed-use inherited lots close to P2.2 million. She also has a P5 million worth constructed house in Cebu City and another P3 million house and lot in Danao City as well as a purchased commercial lot in Danao City and two other purchased commercial lots in Manila.

Magpale also listed P18M of cash in hand and in the bank which was proceeds of her sale of a house in Manila. Other personal properties include P2M worth of furniture, antiques, paintings, jewelry, books and appliances, P6M for her investment in a school she owns in Danao, P11.3M in an investment for a family-run company and two cars worth P2.1M. Magpale did not have any liability.

For the Provincial Board, 6th district board member Arleigh Sitoy had the highest in net worth. The FREEMAN was not able to get a copy of his SALN in the Office of the Ombudsman but in a text message, Sitoy said that based on his office’s records, his net worth was at P68,737,000.

According to his staff, Sitoy’s SALN includes a condominium in Manila worth P4M and mostly inherited properties in Lapu-Lapu. He also listed appliances, jewelries and books plus a Starex van at P1.2M.

Sitoy was followed by PB member for the 4th district Sun Shimura whose net worth was at P20,856,000. It includes a P12M residential lot in Daanbantayan, a beach lot in Malapascua Island worth P6M and a Nissan Patrol worth P2.4M. He listed his Chevrolet Camaro as a liability with a balance of P2.5M.

PB member Peter John Calderon has a net worth of P13,219,376; Teddy Ouano with P12,952,245;  Congressman-elect Wilfredo Cami-nero of the second district has P11,100,198; Alex Binghay with P9,061,280; Acting Vice Governor Julian Daan with P3,637,803; Caesar Ian Zambo with P2,346,500; Sergio Restauro with P2,250,000; Jude Thaddeus Sybico with P2,010,000; Miguel Magpale with P1,550,000; Carmen Remedios Meca with P1,465,000; and Joven Mondigo with P1,455,000.

Provincial Sangguniang Kabataan Federation president Aladin Caminero has P471,000 while Association of Barangay Councils (ABC) Federation president Jose Ribomaphil Holganza has a net worth of P150,000.  — (FREEMAN)