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President Aquino inherited a residential lot in Antipolo last year, which contributed to the PHP1.8-million increase in his net worth. He declared a net worth of PHP68,311,644 in his 2014 statement of assets, liabilities, and net worth (SALN), up from PHP66,494,183 in 2013. Net worth is the total of an individual’s assets minus his liabilities.
Aquino’s listed real properties were virtually unchanged, except for a residential lot in Antipolo which he declared as an inheritance he acquired in 2014. It had an acquisition cost of PHP507,393.
FROM MOM’S FAMILY
Deputy presidential spokesperson Abigail Valte told ABS-CBN News that this represented Aquino’s one-fifth share in the property of his great-grandfather, Juan Sumulong, the grandfather of President Corazon Aquino.
A highway in the area has been named after Sumulong, a former revolutionary from Rizal province who once ran for president against Manuel L. Quezon.
Aquino received his share only after court proceedings on the reconstitution of the property’s title were finished in 2014. Valte explained that the title was previously lost, hence the need for the reconstitution of the title.
PERSONAL PROPERTIES
The President’s cash on hand and in banks grew from PHP28,778,920 in 2013 to PHP30,088,988 in 2014, increasing by PHP1.3 million.
Valte said the increase is also due to interest income. The President receives a monthly pay of PHP120,000 (USD2,695), as the only official on Salary Grade 33 under the salary standardization system. The number and value of Aquino’s vehicle remained the same at PHP3 million. He keeps a 2007 Land Cruiser.
Still listed among the President’s personal properties were receivables worth PHP552,829, representing the amount of proceeds that he has yet to receive from the previous sale of a residential lot in Antipolo owned by the Cojuangco family.
The value of his personal property listed as “other assets” remained at PHP2 million. Aquino listed no liability.
Text: Willard Cheng, ABS-CBN News
Photo: Gov.ph
This article has been re-published with permission from ABS-CBNnews.com.
