GMA richer by P44.9 million

MANILA, Philippines – President Arroyo has more than doubled her wealth since she replaced deposed President Joseph Estrada in 2001.

Mrs. Arroyo’s latest sworn statement of assets and liabilities and net worth (SALN) filed with the Office of the Ombudsman on April 30 showed her P44.9 million richer than in the previous year.

Her total declared assets in 2008 stood at P177.179 million but her liabilities in the form of net payables amounted to P33 million, leaving her with P144.539 million.

In 2007, the President’s SALN showed her total assets at P99.616 million, or P11 million higher than in 2006.

When she assumed the presidency in 2001, her declared net worth was only P66.747 million. As president, her annual salary is P693,000.

Her shares of stocks, declared under the category of personal and other properties, stood at P110.437 million last year.

Mrs. Arroyo declared only six real properties in 2008 as against seven in 2007, including a house and lot in Baguio worth more than P67 million with cost of improvement at P645,287; a residential lot in Antipolo worth P1.7 million; a commercial lot in Tayabas, Quezon worth P2.4 million; an agricultural lot in Nasugbu, Batangas, P1.5 million; raw land in Coron, Palawan which she bought in 2005 for more than P2 million; and a fish pond in Malolos, Bulacan purchased in 2007 for P507,800.

Her declared real properties last year amounted to more than P5 million as against the P6.8 million reported the previous year, during which she declared ownership of another agricultural land in San Rafael, Bulacan.

For 2007, Mrs. Arroyo’s SALN declared “no business interests and financial connections” but for 2008, she identified La Vista Investments and Holdings Inc. as a business interest run by her husband, First Gentleman Jose Miguel Arroyo.

La Vista holds office on the 8th Floor of LTA Building in Legaspi Village, Makati City.

As required by law, the President listed the names of six relatives who are also in government.

They were led by her two congressmen-sons Pampanga Rep. Juan Miguel M. Arroyo and Camarines Sur Rep. Diosdado M. Arroyo who, based on their own SALNs released by the House of Representatives in May 2008, are among the richest congressmen with net worth of P96.7 million and P83.7 million, respectively.

Her brother-in-law Ignacio T. Arroyo Jr., the richest among Arroyo relatives in Congress with a reported net worth of P145.8 million, was third on her list.

The President identified the rest as Ma. Lourdes T. Arroyo, her sister-in-law working at the House of Representatives; Erlina M.B. de Leon, a cousin working at Malacañang; and Carlos L. de Leon, a cousin-in-law connected with the Office of the President.

Noli’s SALN

Vice President Noli de Castro also grew richer, by more than P3.8 million in 2008 based on his sworn SALN filed with the Ombudsman.

The broadcast journalist-turned-politician declared his total assets at P60.902 million and liabilities at P2.5 million.

De Castro, who receives a monthly salary of P46,200, declared ownership of five houses and lots and three lots worth more than P29 million.

The properties include a house and lot in Lagro, Novaliches, Quezon City worth P40,000 with an improvement cost of P200,000; a house and lot in Tierra Pura Homes, Tandang Sora, Quezon City worth P3.5 million; houses and lots in Pasong Tamo, Quezon City worth P1.4 million and P7.7 million; and a house and lot in San Antonio Heights, Batangas worth P695,000.

De Castro also declared ownership of lots in San Jose del Monte, Bulacan worth P2.7 million; a lot in Mindoro, P300,000; and a lot in Forrest Hills, Antipolo, P3.8 million.

He also declared ownership of several pieces of jewelry worth more than P2 million; appliances and furniture, P2.060 million; paintings and other artworks, P480,000; three vehicles – a Suburvan, a Ford Expedition and a Chrysler – worth P8.4 million; shares of stocks in ABS-CBN worth P1 million; and P17.5 million bank deposit.

His SALN report in 2008 also showed five more relatives joining the government namely Marives de Castro, his niece-in-law who is a municipal officer of the Department of Agrarian Reform in Oriental Mindoro; Perla Lauterio-Barcelon, his cousin who is clerk at the Department of Public Works and Highways also in Oriental Mindoro; Rey Leuterio, a cousin and a Master Teacher at the Oriental Mindoro High School in Calapan; Danilo Leuterio, a cousin and the principal of the same school’s Bucayao Annex; and Lourdes Leuterio-Ledesma, a teacher the Adriatico Memorial School also in Calapan.

In his 2007 SALN, De Castro identified only five relatives working in government, namely Dr. Grimaldo Catapang, a nephew and the provincial veterinarian of Calapan, Oriental Mindoro; Veronidia Catapang, a niece working for the Department of the Interior and Local Government’s National Capital Region office in Quezon City; Dr. Florecita Catapang, a niece who is a revenue collection officer based in Socorro, Oriental Mindoro; Janice Anne Pasco, also a niece who works in the Office of the Vice President; and Allan Leuterio, a cousin and a director of the Department of Environment and Natural Resources in Region IV-A.