Senators bare detailed business interests

By Christina Mendez, The Philippine Star

Posted at May 23 2013 10:02 AM | Updated as of May 23 2013 06:02 PM

MANILA, Philippines - Senators are providing more detailed asset declarations, with the latest filings for 2012 disclosing various investments and massive business interests in real estate, food and power.

The detailed disclosures in the statements of assets, liabilities and net worth followed the ouster last year of Renato Corona as chief justice over inaccuracies in his SALN.

Apart from real estate magnate Sen. Manny Villar who posted P1.4 billion in net worth last year, Senate President Juan Ponce Enrile, Teofisto Guingona III and Edgarda Angara reported vast business connections and investments as reflected in their SALNs.

Among the 23 senators, only four declared no business interests or investments in stocks. They were Senate Majority Leader Vicente Sotto III, Gregorio Honasan, Joker Arroyo and Antonio Trillanes IV.

Enrile and his wife declared large holdings in JVPE Holdings Inc, JAKA Investments Corp., Canlubang Golf and Country Club, and Alabang Country Club Inc.      

Based on Enrile’s SALN, the historical value of the four stockholdings was placed at P68,048,903. The Enriles’ net worth was placed at P118.6 million.

The Enriles’ business interests – based on his SALN – include financial services, lights and wood division, property development and management division, food division, distribution/marketing/industrial division, transport and security services under Sigma Security Services Inc.                                                        

His property interests include JAKA Properties Inc., JAKA Tagaytay Development Corp., JAKA Land Inc., JAKA Ventures, Splendido Gardens Condominium Corp., Splendido Taal Golf Club Corp., Jaka Realty Inc. and Sigma Investments Corp.   

Senate President Pro-Tempore Jinggoy Estrada revealed that P119.3 million of his P193.56-million total net worth is placed in various investments – S-E-N-J-I Corp., Lucky J4J Resto Inc., HK Choi Inc., and Choi Palace Inc.

Angara revealed shares of stocks in Accra Investments Corp., Ayala Land Inc., Aboitiz Power Corp., Bank of the Philippine Islands, Chinatrust (Phil) Banking Commercial Bank Corp., Philex Mining, GMA Network -PDR (GMAP), GMA Network Inc. (GMA7), Meralco, PLDT, Lafarge Republic Inc., Shang Properties Inc., Sinophil Corp, and Philodril Corp., among others.

Angara’s total investments in stocks are placed at P26.371 million. Angara’s net worth is placed at P159,092,565.24.

Guingona has P75.614 million in stocks and some P385 million in club memberships.       

Guingona’s investments are in Tierra Minerva Properties Development Corp., Guimaras Realty Inc., Southern Flagship Realty Inc., First Tropical Blooms Inc., Flavortrade Inc., Firm Builders Realty Development Corp., Sta. Lucia Investments Inc., Ayala Land, Ayala Corp., and Ayala Corp. preferred shares. He has been holding the stocks since 1989.

Guingona’s wife Victoria is stockholder of 25 companies, such as TKC Steel Corp., Vita Rich Corp., Empire East Corp., Lopez Holdings Corp., Cebu Holdings, Filinvest, Holcim Philippines Inc., Jollibee Foods, Meralco, and Phoenix Petroleum, among others.

Sen. Pia Cayetano, who is the 10th richest senator, declared P32.9 million in investments and interests in about 10 companies.

Pia’s younger brother, minority leader Alan Peter, bared various investments and club shares acquired since 1991 to be worth P9.8 million. He said the increase in his investments was due to profit, both paper and actual, as listed in the Philippine Stock Exchange.