PNoy doesn't own any condo unit

By Michael Punongbayan, The Philippine Star

Posted at Feb 21 2012 09:43 AM | Updated as of Feb 21 2012 09:41 PM

MANILA, Philippines - Unlike Chief Justice Renato Corona, President Aquino does not own any condominium unit, his latest statement of assets, liabilities and net worth (SALN) filed with the Office of the Ombudsman shows.

In his SALN, which the chief magistrate had dared him to make public, Aquino’s prized possession under real properties is his house in Quezon City which he had inherited from his parents.

Aquino declared his Quezon City residence to be worth a little over P14.4 million based on acquisition cost covering land, building, and improvements.

His SALN submitted to the Office of the Ombudsman in April last year put the property’s assessed value at P472,460 and current fair market value at P2.4 million.

The President has until April 30 to file his SALN for the year 2011 in accordance with Republic Act 6713 or the Code of Conduct and Ethical Standards of Public Officials and Employees.

Aside from his Quezon City home, Aquino also has a residential lot in Tarlac City bought in 1997 which is now worth P718,360 and an agricultural land in the same locality purchased in 1987 now valued at P113,750.

The rest of his real properties – a P7-million commercial lot in San Juan and an agricultural land in Capas, Tarlac – were declared as inheritance acquired in 2010 and 1979, respectively.

In total, the President’s declared real properties amount to P22.6 million which, if added to his personal and other assets – including cash in banks and cars minus tax payables – would place his total net worth at P54.9 million.

Since assuming the presidency, Aquino has filed two SALNS with the Office of the Ombudsman – the first filed 30 days after he assumed office on June 30, 2010 and the second in April 2011 for the year 2010.

Corona, in his 2010 SALN, declared three condominium properties including a penthouse unit at the Bellagio Tower in Taguig City which he and his wife bought in 2009; a unit at the Bonifacio Ridge also in Taguig City purchased in 2004; and a unit at The Columns in Makati City bought in 2003.

He is accused, however, of undervaluing the three properties by P16.9 million. Earlier, Corona – on trial by the Senate acting as impeachment court – dared Aquino to disclose his SALN as well as his record of mental health.