CEBU Vice Gov. Gregorio Sanchez Jr. is still the richest provincial official, according to the latest statement of assets, liabilities and net worth (SALN) released by the Office of the Ombudsman-Visayas.
Sanchez declared a P120.8-million net worth as of Dec. 31, 2009, a substantial portion of which comes from his real properties and other personal properties, including a P50-million equity investment in affiliated companies, a bank deposit of P9.177 million and furniture and fixtures worth P2 million.
Gov. Gwendolyn Garcia, in her SALN, said her net worth is P100.8 million as of December last year. (or an increase of about P2.1 million compared to the P98.7 million net worth she declared in 2008)
The governor’s 2009 net worth consists mostly of real estate and her investments with the GGC Group of Companies.
Sanchez’s declared net worth increased by about P17.7 million since he posted P103.1 million as of December 2008.
Sanchez reported P92,038,109 worth of real property, including a house and lot in Maria Luisa Subdivision in Cebu City, which he acquired in 2004 for P39 million; about 32 parcels of land in various towns, including a 4,170-square-meter land in Barangay Tayud, Consolacion worth P12.510 million, and another 50-square-meter agricultural land in his hometown Tuburan worth P5.160 million.
Sanchez also listed vehicles, including a Ferroza Daihatsu worth P200,000; Mitsubishi Pajero, P1.503 million; motorcycle, P90,000; yacht, P3 million; and a Chevloret Venture Wagon, P1.200 million.
Sanchez’s liabilities reached P46.2 million, including income tax dues of P133,198.58; accounts payables, P11.012 million; long-term payables, P14.261 million; and advances from affiliated companies of P21.061 million.
Garcia declared P88,565,895 in real properties last year, which included a residential building in Ormoc City with a current fair market value of P78,523,095; a residential lot in Cebu City valued at P9,450,000; and a Mitsubishi Pajero worth P592,800.
The governor’s personal and other properties reached a total of P61,254,282. These included cash on hand/bank accounts of P910,101; furniture/antiques, P5.4 million; and jewelry, P8,296,388.
Garcia also reported having acquired 50 percent of the total share assets of GGC Enterprise in 2003, totaling P12,804,021 and a 67-percent share in total assets of GGC Group in 1998 worth P33,843,772.
The governor's liabilities, which included loans and mortgages, reached P48.978 million in December 2009. These were bank loans worth P33,018,267; accounts payables, P8,438,877 and the rest were loans from the Government Service Insurance System (GSIS) and Pagibig.
Garcia has 16 relatives in government, including her father, Deputy House Speaker Pablo Garcia (Cebu, 2nd district), brother Pablo John Garcia (Cebu, 3rd), GSIS President and General Manager Winston Garcia and former Capitol security consultant Byron Garcia.
Gov. Garcia has an annual gross salary of P675,334.
Sanchez listed three relatives working in government service. They are his nephew Giovanni Sanchez and nieces Marinette Sanchez and Maricar Rosario.
The vice governor has an annual gross salary of P328,172.
Meanwhile, among the 11 Provincial Board Members whose SALNs were released by the Ombudsman, Agnes Magpale was the richest with a P53.660-million net worth as of December 2009.
PB Member Alfred Francis Ouano ranked second with P20.7 million and PB Member Juan Bolo is third with P8.4 million.
PB Member Wilfredo Caminero declared a net worth of P6.4 million, followed by Rosemarie Durano (P4.1 million), Jose Ma. Gastardo (P2.9 million), Julian Daan (P1.4 million), Ceasar Ian Zambo (P1.4 million), Victoria Corominas (P1.4 million) and Joven Mondigo (P171, 000).