Pacman Is The Country's Richest Congressional Representative

MANILA, Philippines – Popular pugilist Manny Pacquiao is number one in the list of wealthiest House members as based on the statement of assets, liabilities and net worth (SALN) that he filed for 2011.

Pacquiao, who has a net worth of P1.35 billion, is also the solitary billionaire in the list.

Second on the list is Ilocos Norte Representative Imelda Marcos, who has a net worth of P932 million.

Following Pacquiao and Marcos are Speaker Feliciano Belmonte Jr., with a net worth of P726.2 million; Negros Occidental Rep. Alfredo Benitez, P686 million; Negros Occidental Rep. Julio Ledesma IV, P555 million; Leyte Rep. Ferdinand Martin Romualdez, P474 million; Iloilo Rep. Augusto Syjuco Jr., P 302 million; Tarlac Rep. Enrique Cojuangco, P200.6 million; Ilocos Norte Rep. Rodolfo Fariñas, P195.7 million; and Rizal Rep. Joel Roy Duavit, P194 million.

Anakpawis party-list Representative Rafael Mariano is the poorest congressman with a net worth of P46,946.

Joining Mariano in the bottom five are other party-list members: Neri Javier Colmenares (Bayan Muna), P697,701; Abegail Faye Ferriol (Kalinga), P483,006; Raymond Palatino (Kabataan), P195,000, and Teodoro Casiño (Bayan Muna), P91,000.

The list was released Thursday by the office of the House secretary general.

In an interview with “StarTX” on Satruday, Pacquiao said he has no reason to be ashamed for making it to the top of the list.

“Yung mga dineclare ko, galing sa Panginoon ‘yan, lahat ‘yan hindi ko kinuha ng madalian lang, hindi ko ano ‘yan, kumbaga sa buhay, dugo at pawis ang puhunan ko diyan,” said he.

Last year, Pacquaio already made it to the top of the list, declaring a net worth of P1.134 billion as of Dec. 31, 2010.

source: mb.com.ph

Imelda Marcos' net worth: P932.8-M

MANILA, Philippines - Former First Lady Imelda Marcos has declared her net worth at $22 million, House records show, as she continues to fight the government over her assets more than two decades after the end of her dictator husband's reign.

The widow of deposed dictator Ferdinand Marcos declared her wealth at P932.8 million in 2011, records released late Thursday showed, which would make her the second richest Philippine politician behind boxing hero and congressman Manny Pacquiao.

The amount declared by Marcos was almost 50% higher than in 2010, with the 82-year-old including new assets which were surrendered to the government by the dictator's cronies.

A popular revolt toppled the dictator from power in 1986, sending the family fleeing overseas. Manila has since been trying to recover the wealth Marcos and his allies allegedly accumulated through graft during his 20 years in office.

The deposed president died in exile in 1989 and his family was allowed to return home, with his widow elected in 2010 to a congressional seat representing the family stronghold.

Before she was elected Marcos had complained of being nearly penniless, despite living in a luxury condominium unit and frequently appearing in public, bedecked with jewellery.

Her lawyer Robert Sison said his client, known for her jet-set lifestyle and love of shoes, could not touch much of her declared wealth as it had been seized or sequestered by the government.

"The ownership of these properties is being contested and the government is not off the hook," he told AFP.

Sison said her declared worth rose in 2011 because she added assets that had been surrendered to the government by Marcos cronies, wealth that was previously "overlooked". The lawyer said his client was the true owner of the assets and would seek to recover them.

Elected officials are required to declare their wealth each year. Pacquiao, rated by many as the best pound for pound boxer in the world, was elected to parliament in 2010 and declared assets worth 1.3 billion pesos.

source: abs-cbnnews.com

Defense maintains Corona properties properly declared in SALN

MANILA, Philippines -- Lawyers of Chief Justice Renato Corona maintained on Monday that his properties had been properly declared in his statement of assets, liabilities and net worth.

The two witnesses of the defense -- the registrar of deeds of Quezon City and the city assessor of Makati City -- testified on the condominiums and lots owned by Corona and his wife, Ma. Cristina, and the fair value and assessed market value of these properties.

Corona’s condominium unit in The Columns in Makati City had an assessed value of P726,000 at the time a Deed of Sale was executed in 2004.

Mario Badillo, Makati City assessor, said the property had a fair market value of P1.2 million since 2008, the same value Corona declared in his SALN.

The assessed value is used in computing real estate taxes, while the fair market value refers to the price agreed upon by the buyer and the seller.

For the Quezon City properties, Carlo Alcantara, registrar of deeds, said the Coronas sold their Ayala Heights property in 2010 for P8 million.

Their 1,200-square meter property in La Vista Subdivision, which they acquired in 2003, and had an assessed market value of P450,000 and a fair market value of P3 million, was sold to their daughter Ma. Carla Castillo in 2010 for P18 million.

On the other hand, the title to a condominium unit owned by the Coronas in Burgundy Plaza, which they acquired in 2003, had an annotation showing the parking lot does not belong to the couple, but they are allowed to use it.

source: interaksyon.com