Vice Gov. Magpale, Franco among PB’s richest officials

The 17 Cebu Provincial Board Members (PB) are all members of the millionaire’s club with Cebu Gov. Agnes Magpale being the richest elected official in the PB based on her 2017 statement of assets, liabilities and net worth (SALN).

Magpale, who sits as the PB’s presiding officer, declared a net worth of P60,683,333 and had no liabilities.

She declared personal properties worth P42,883,333 which included a P21,000,000 cash at the bank, which were proceeds of the sale of her house in Quezon City.

This also included the P17,633, 333 investment in a school and in J.D Almendras Agro-Industrial Development Corp. and furniture, antiques, paintings, jewelries, books and appliances worth around P2,000,000.

She also owns two Toyota Grandia and Montero cars, with a combined worth of P2,250,000.

Aside from her personal properties, Magpale also owns real properties worth P17,800,000.

These include a house and lot in Barangay Banilad in Cebu City worth P5,000,000, two condominiums in Las Piñas and Ayala in Metro Manila, a residential house in Danao City, and a mixed use lot in Tuburan town.

The second richest in the PB is PB Member Horacio Franco of Cebu’s 4th district, who has a net worth of P 47,400,000

Franco owned two condominiums in Barangay Lahug in Cebu City, which is amounting to P18 million.

Aside from that, he has a 2013 Ford Explorer worth P1.8 million and cash worth P1.1 million.

However, he did not declare the costs of his two real properties, a residential house and agricultural lot, among others in his assets.
Franco reportedly had no liabilities.

The third richest in the PB is PB Member Thadeo Jovito “Jonkie” Ouano of Cebu’s 6th District who has a net worth of P 35, 975,586. 40.

Ouano declared at least eight industrial properties and one residential property, all of them in Barangay Opao in Mandaue City, which are worth P 30,272,500.

While, he also has at least P1,000,000 in his bank accounts, jewelry of about P500,000 and capital stocks of Joly Cebu Philippines Inc. of P 165,500.

Ouano also owns four cars — a Toyota Innova, a Hyundai Grand Starex, a Ford Everest and a Ford Expedition with a combined worth of P15,664, 000.

He declared liabilities amounting to P1,323,413 from a car loan and credit card.

Other board officials who submitted their SALNs include Edsel Galeos (P28,440,035), Alex Binghay (P25,847,267), Sun Shimura (P24,400, 000), Glenn Bercede (P16, 515,610), Celestino Martinez (P8,000,000), Earl Tidy Oyas (P7,683,000) and Christopher Baricuatro (P5,425,000).

While, the net worth of PB members Victoria Corominas-Toribio (P4, 807,113), Miguel Magpale (P4,010,000), Jude Thaddeus Sybico (P2, 850,000), Jerome Librando (P2,245,000), joint statement of Yolanda Daan and her husband Julian (P1,384,968) and Raul Bacaltos (P1,223, 710).