Tuesday, November 11, 2008
Tom reports net worth of P5.1 million in 2007
CEBU City Mayor-on-leave Tomas Osmena posted a net worth of P5.1 million for 2007. He declared only one piece of real estate, a parcel of land in Barangay Taptap, Cebu City, which he obtained in 2002 on installment. He placed the estimated fair market value of the property at P3.4 million.
He, however, declared P2.07 million more in “other assets” as against P1.01 million in liabilities.
Cebu City Vice Mayor Michael Rama, who currently serves as acting mayor while Osmena is on medical leave, declared a total net worth of P1.2 million.
Rama did not report any real estate property. He declared his Honda City, obtained in 2001 at P500,000 as “real property.”
He, however, reported P641,3000 invested in stocks and over P100,000 tied to antiques.
Among the members of the Cebu City Council, Edgardo Labella posted the highest net worth at P11.6 million, followed by Eugenio Faelnar with P10 million.
City Councilor Hilario Davide III, son of former Chief Justice Hilario Davide Jr., came a distant third with P5.4 million.
Labella listed five residential pieces of land, one in Mabolo, another in Talamban and three in Lapu-Lapu City, all acquired between 1988 and 2003.
He also declared a property residential condominium in Makati, a residential lot in Tubigon, Bohol and three agricultural pieces of land also in Tubigon, all acquired through sale.
He listed five cars and P300,000 worth of jewelries as against P2.171 million in liabilities.
With a P281,700 gross annual salary and P521,700 gross annual family income, Faelnar declared ownership of three cars, four residential properties in Guadalupe, acquired between 1975 and 1983, and another one in Logarta St. in downtown Cebu City, which he bought last year for P1 million.
Other city officials and their net worth are: Lea Japson, P4.7 million; Gerardo Carrillo, P4.029 million; Christopher Alix, P3.5 million; Jose Daluz III, P2.7 million; Augustus Pe, P2.4 million; Ritchie Osmena, P542,000; Edu Rama, P500,000; Arcenio Pacana, P465,000. The papers of seven members of the Cebu City Council were missing (KNR)
For Bisaya stories from Cebu. Click here. (November 11, 2008 issue)
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