[NEWS] Vice-President Leni Robredo’s Statements of Assets, Liabilities and Net Worth

Foxit

Click this image to download the June 2016 and December 2016 Statements of Assets, Liabilities and Net Worth of Vice-President Leni Robredo.

Robredo wealth shrinks by P2.175 M in her first six months
Vince F. Nonato
@VinceNonatoINQ

Vice-President Maria Leonor Robredo is worth P8,878,111.43 by the end of 2016, reporting that her wealth shrank by P2.175 million during the first six months of her term.

This was 19.7 percent lower than the P11,053,138 net worth Ms. Robredo reported during the time she entered office on June 30.

These figures were taken from the two Statements of Assets, Liabilities and Net Worth filed for 2016. The June 2016 figures were contained in her undated entry SALN marked received on August 1 last year, while the December 2016 figures were declared in her annual SALN filed this April 27.

The Philippine Daily Inquirer obtained the three-page SALNs from the Office of the Ombudsman on Tuesday, subject to a P30 processing fee.

Both SALNs disclosed Ms. Robredo’s business interest in Manila Electric Co. (Meralco) as “shares of stock” for “different years.” She did not specify just how much her stake at the corporation was.

Unlike President Rodrigo Duterte, Robredo did not give up her business interest.

Article VII, Section 13 of the 1987 Constitution states the president and the vice-president “shall not, during said tenure, directly or indirectly, practice any other profession, participate in any business, or be financially interested in any contract with, or in any franchise, or special privilege granted by the Government or any subdivision, agency, or instrumentality thereof, including government-owned or controlled corporations or their subsidiaries.”

The lack of details regarding the Meralco shares is also one of the grounds being raised by the so-called Impeach Leni Movement, a group of pro-Duterte lawyers and bloggers whose complaint is still pending endorsement at the House of Representatives.

Legal adviser Ibarra Gutierrez has yet to reply to Inquirer’s request for comment.

In her SALNs, Ms. Robredo declared that her assets declined to P15.78 million by the end of 2016, from P17.95 million reported as of June.

Most of her assets were reflected as personal properties, much of it in cash. Ms. Robredo’s cash assets decreased to P8.94 million from P11.115 million in June.

Other than her cash assets, nothing changed when it came to her other real and personal properties as well as her liabilities.

Furniture and appliances were worth P1.5 million, jewelry were valued at P100,000, and her prepaid insurance is P630,000. Ms. Robredo also owns two vehicles, a Toyota Innova bought in 2010 for P1.123 million and a Toyota Grandia acquired in 2014 for P1.75 million.

She also owns eight real properties with acquisition cost totaling P1.735 million. Just like Davaoeño President Rodrigo Duterte, all of Ms. Robredo’s declared properties were located in her hometown of Naga City.

These include: her P1.2-million residence in Barangay Dayangdang built in 1996; two agricultural lots in Barangay Del Rosario bought in 1995 for P195,000; a P250,000 orchard in Barangay Pacol obtained in 1995; a P60,000 residential lot in Barangay Sta. Cruz purchased in 2000; and P30,000 agricultural lot in Barangay Panicuason acquired in 2000.

The two other properties—a residential lot in Barangay Dayangdang and a memorial lot at Eternal Gardens—were declared donated.

In terms of current fair market value, her Dayangdang house was worth P1,826,875, while the Del Rosario agricultural lots, the orchard, the Sta. Cruz property and the donated Dayangdang lot were cumulatively valued at P2,106,151. This leads to a total of P3.93 million.

Ms. Robredo’s assets, however, were offset by liabilities totaling P6.9 million. These are loans payable to the following: brother-in-law Jose Robredo Jr. (P1.15 million), sister-in-law Jocelyn Austria (P2 million), and mother Salvacion Gerona (P750,000). She also owes the estates of Marcelina and Jose Robredo P1 million and P2 million, respectively.

Meanwhile, she declared having two relatives in government service: sister-in-law Josephine Bundoc and brother-in-law Rafael Bundoc, who both work as doctors at the Philippine General Hospital in Manila.

According to the Philippine Center for Investigative Journalism, Robredo’s SALNs for the years 2015 and 2014 reflected a net worth of P8,711,803 and P8,302,123.70, respectively.

Last Friday, the Office of the Ombudsman released Mr. Duterte’s SALNs, which showed his net worth to be P24,080,094.04 when he entered office in June and P27,428,862.44 by the end of December. This meant his wealth increased by P3.35 million, or 14 percent.

Public servants are required to file their SALNs by April every year, as well as when they start a government job. This promotes transparency and helps check if government employees show sudden changes in wealth. #

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