COA chair almost as rich as P-Noy

MANILA, Philippines - Commission on Audit (COA) chair Ma. Gracia Pulido-Tan has a total net worth of P64.118 million, making her wealth at par with that of President Aquino, who declared his net worth at P65.130 million as of Dec. 31, 2011.

She is even richer than Vice President Jejomar Binay, who has a net worth of P57.879 million and far wealthier than Ombudsman Conchita Carpio-Morales, who valued herself at P41.577 million and Commission on Elections (Comelec) Chairman Sixto Brillantes who has P31.525 million.

Tan, a former undersecretary of the Department of Finance during the Arroyo administration, said in her statement of assets, liabilities and net worth (SALN) that she has real properties worth P36.058 million, including a residential lot in Mandaluyong valued at P12.936 million.

She also has a condominium unit and a residential lot in Tagaytay valued at P9.4 million and P5.168 million, another house and lot in Mandaluyong worth P5 million, and a property in Florida, USA valued at P852,800.

Tan declared that she has personal and other properties valued at P45.130 million, a big chunk of which covers stock investments worth P41.662 million, while the rest covers P1.163 million in cars, P1.5 million in jewelry, and P804,109 in cash.

Despite her huge wealth, Tan said she has liabilities in the amount of P17.07 million in accounts payable, though she did not elaborate on what these were.

Tan and her husband Bayani declared business interests and financial connections in some 70 companies and corporations, golf clubs, and organizations, including a real property firm called T&V Realty Holdings Inc.

She said she has three relatives also working in government, including her brother Salustiano Pulido, a court interpreter in Cagayan; niece Zayra Domini Abraham, her executive assistant, and a cousin by the name of Danilo Pulido, a director at the United Coconut Planters Bank (UCPB).

Tan filed her SALN for the year 2011 before the Office of the Ombudsman on April 30, 2012, the last day for filing.

As COA chair, she said she has an annual salary of P956,748, a little lower than President Aquino’s income of P1.212 million and Binay’s P1.151 million yearly.

Tan, appointed to her current post in April 2011, teaches Mandatory Continuing Legal Education at the University of the Philippines and is a tax consultant, legal adviser and independent director at Asia United Bank and Rural Bank of Angeles.