No comparison between Corona and Abad SALNs, says Aquino

BAGUIO CITY—How different is the case of Budget Secretary Florencio Abad from that of impeached Chief Justice Renato Corona in their respective declarations in their statements of assets, liabilities and net worth (SALN)?

For President Benigno Aquino III, there’s a world of a difference.

The President, chatting with Palace reporters at his official residence here, was asked about Abad’s admission that he was not able to declare the market value and acquisition value of his assets in his SALN—an alleged wrongful act according to the prosecution lawyers seeking Corona’s conviction in his Senate impeachment trial.

Mr. Aquino replied by explaining how he filled up his own SALN on advice by “people that we think are experts” on this matter.

“Normally, what you’re asked to put in is the acquisition cost … At least, I used to have shares of stocks in (Hacienda) Luisita or the Jose Cojuangco organizations. So I was asked to put in the acquisition cost. Now, that company, as you know, is heavily indebted and obviously the values of the shares will be reflective of its financial position. So I was asking: Am I inflating my net worth by stating acquisition cost rather than the current value?” he said.

On listing down vehicles in his SALN, Mr. Aquino said he was told he could not put in the current value but the acquisition cost.

“So I also ask: Is that the right way of doing it? But I’ve had to report it in the manner that they have requested us to put it in, which was my acquisition cost,” he said.

The President said that both Abad and even Health Secretary Enrique Ona had listed down all of their assets and liabilities in their SALNs.

“The question here only is the valuation of the assets,” he said.

The President said “there was a very big difference between what Secretary Abad reported and what the Chief Justice reported.”

He said while Abad reported all of his assets in his SALN, Corona only listed down his P3-million cash deposit in his SALN and not P31 million in his alleged bank accounts that was uncovered by the prosecution team in his impeachment trial.

“The P3 million and P31 million cash position is kind of difficult to understand why, if they are separate accounts, you will remember more the P31 million before the P3 million,” the President said. “So why was the P3 million the only one that was listed down, the P31 million was not found, OK?”

He said it would be “difficult to say there is parity in the disclosure of the truth and the SALN is supposed to be subscribed to under oath and therefore reflective of the truth.”