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Robredo wealth shrank by P2.175 M in her 1st six months as VP

/ 10:21 AM May 16, 2017
Leni Robredo

Vice President Leni Robredo. GRIG C. MONTEGRANDE/INQUIRER FILE PHOTO

MANILA — 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 vice-presidency.

When Ms. Robredo entered office on June 30, her net worth was declared to be P11,053,138.

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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.

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In this SALN, Ms. Robredo declared her business interest in the Manila Electric Co. (Meralco) as “shares of stock” for “different years.” She did not specify just how much her stake at the corporation was.

The lack of details regarding the Meralco shares is 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.

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

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, which is 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.

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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.  SFM/rga

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TAGS: Government Officials, impeachment complaint, Leni Robredo, Manila Electric Company, Maria Leonor Robredo, Philippine Government, Philippine vice president, Statement of Assets Liabilities and Net Worth
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