Valuation standard unclear in Cabinet men's SALN

MANILA, Philippines - After the prosecution pointed out the supposed irregularities in the 2010 statement of assets, liabilities and net worth (SALN) of Chief Justice Renato Corona, the question remains on what standard government officials should use in determining the value of their real properties in declaration of SALN.

The defense has used the assessed and current fair market values in the five properties of Corona, the basis of which were tax declarations he paid in the various cities where the supposed properties were located.

A quick evaluation by The STAR of the 2010 SALN of key members of President Aquino’s official family showed some were not particular in the acquisition costs, while others provided too general details.

Finance Secretary Cesar Purisima provided a detailed breakdown of his assets and liabilities as well as “personal and other properties” as of June 30, 2010, showing his total net worth of P252 million.

However, in his real properties, Purisima declared acquisition costs for the four properties he acquired from 1993 to 2004 that included a condominium in Wack Wack Tower in Mandaluyong City with cost of P1.48 million.

He also listed a townhouse unit and lot purchased for P444,630.40 in Villa Milagrosa in San Pedro, Laguna; a P5-million house and lot in Ayala Alabang, Muntinlupa (with note that it was a family purchase; one-fourth share co-owned with father and two sisters); and a condominium unit at Pinecrest in Tagaytay Highlands for P4.1 million.

Purisima placed “not applicable” on the columns intended for assessed value and current fair market value in his SALN.

With a net worth of P159 million in 2010, Trade Secretary Gregory Domingo reported real properties amounting to some P55 million, which included a P37-million house and lot in Makati City acquired in 2004.

With a total net worth of P129 million, Energy Secretary Jose Rene Almendras filled up the three columns for assessed, fair market values and acquisition costs in his list of real properties, amounting to P62 million in 2010.

Almendras listed six properties including a house and lot in Quezon City with an assessed value of P562,650; a fair market value of P45,000,000 and land/building pegged at P12.276 million with P14.5 million in improvements. The property was acquired through financing in 2007.

Almendras also had a condominium in Taguig City, then still under construction (no assessed value), with a fair market value of P13.5 million and an acquisition cost of P12.934 million.

For a condominium in Bataan, purchased in 2010, Almendras did not put anything under the assessed and current fair market values columns. Its acquisition was pegged at P14 million.

However, Almendras merely listed current fair values for a house and lot in Cebu City (P11 million, inheritance) and an agricultural lot in Tuburan, Cebu (P5.229 million, inheritance).

A lot in Liloan, Cebu had a fair market value of P5 million and acquisition cost of P4.006 million (land/building).

Defense Secretary Voltaire Gazmin listed eight properties ranging from house and lot, residential, agricultural and farm lots which he acquired between 1987 to 2005 in various locations, totaling P7,586,639.

He left blank the columns for assessed and fair market values.

On the acquisition costs, Gazmin placed amounts under the “land, building, etc” and “improvements” sub-columns.

The defense secretary’s net worth was placed at P23.1 million.

National Security Council head Cesar Garcia listed three properties totaling P14.1 million, namely a house and lot in Bacolod, a lot in Bulacan and a condominium in Taguig City.

But Garcia listed only the assessed values and current fair values of the properties, with the Taguig condominium pegged at P11 million in current fair value. Nothing was placed for acquisition cost. Garcia’s net worth totaled to P15.6 million in 2010.

Agriculture Secretary Proceso Alcala, whose net worth reached P87.1 million, had total real properties amounting to P46.676 million. He listed 10 real properties ranging from lots to residences, putting values only in the column for current fair values, and three entries under acquisition costs.

Presidential Communications Group Secretary Herminio Coloma, whose total net worth is P14.740 million, provided values in all three columns in his SALN pertaining to assessed and fair market values, and acquisition costs.

For a house and lot in Ayala Alabang, Muntinlupa purchased in 1993, Coloma said its assessed value was pegged at P1 million, with current fair value at P15 million and acquisition cost for land/building at P7 million.

Another conjugal property, a house and lot in Sta. Rosa, which was purchased in 1996, reflected an assessed value of P800,000 and same amount for fair market value. The acquisition cost was also pegged at P800,000.

A condominium unit in Makati City, bought in 1997, reflected an assessed value of P2.9 million, current fair value of P4 million and acquisition cost of P2.9 million.

With P77.570 million in net worth, Health Secretary Enrique Ona listed his properties with various “values” in an annex to his SALN.

Ona placed P4.79 million under the “land/building” sub-column under acquisition costs.

In his 2010 SALN, Environment Secretary Ramon Jesus Paje referred to his entries in his 2008 SALN in his real properties’ list.

With the 2008 SALN attached, Paje placed amounts under the estimated fair market value and assessed values on his house and lots in Pasig City and Quezon City; and an agricultural lot in Legaspi City.

Science Secretary Mario Montejo declared P42.796 million in real properties, listing all values in the three columns.

Justice Secretary Leila de Lima had no listing under real properties in her 2010 SALN, in the same manner that Education Secretary Armin Luistro attested that he had no real properties to declare in his SALN.

Fourteen properties were listed by Agrarian Secretary Virgilio de los Reyes, all totaling to P8.7 million. De los Reyes put in “assessed values” and acquisition costs, but there was no column in the extra page (annex) for his assets.

Social Welfare Secretary Dinky Soliman placed amounts in all three columns for her house and lot in Quezon City, the only property she had. Acquired in 1990, the assessed value was placed at P610,000; current fair value, P2.08 million; with land amounting to P44,000 and improvements amounting to P1.1 million.

A key member of Aquino’s cabinet, Budget Secretary Florencio Abad, however, admitted he might not have been truthful in some of his SALN entries.

Abad though expressed willingness to rectify errors in his listed assets.

“In the interest of transparency, I will review my previous SALNs and include the acquisition cost and the fair market value, to the extent that the pertinent documents are still available,” he declared, which is a subtle admission of wrong entries he made.

In a statement, Abad said: “I acknowledge (though) that with respect to my real properties, I have declared their value based on the assessed value, which has been the basis of the taxes I have paid against these.”

Abad promised that as soon as he rectifies the discrepancies in his past SALNs, all of the updated values of his assets will be “reflected in the SALN that I will file in April for year 2011.”

Abad – who held several Cabinet portfolios and former Batanes congressman – said his “attention has never been called to this” in “all my years in public service,” where he “faithfully submitted” all his SALNs.

“In all my years in public service, my attention has never been called to this, whether by the Civil Service Commission, the Office of the Ombudsman or the Commission on Appointments,” he said.

As far as he is concerned, Abad said his SALNs would bear him out that he “never missed a year” in filing such, and that all his properties – whether real, investments or even artwork and books – have their corresponding values and have been “faithfully disclosed.” – With Delon Porcalla