Cebu Gov. Hilario Davide III owns a condominium in Taguig City in Metro Manila, one of five real properties he listed in his Statement of Assets, Liabilities and Net Worth (SALN).
Davide, who was elected governor in June last year, declared a net worth of P14.9 million as of Dec. 31, 2013.
Davide submitted his SALN to the Ombudsman-Visayas yesterday, the deadline for submission as required for public officials.
Davide’s SALN showed that he acquired the condominium in 2008 at the cost of P3.4 million.
Net worth or actual wealth is an official’s total assets minus his or her total liabilities.
Acquisition
Davide’s wealth is tied to real properties which he purchased before he became Cebu City councilor and later on governor.
His real properties amounted to nearly P8 million. This includes three lots in Cebu City and a house in Mandaue City.
Aside from real properties, Davide’s assets include P4 million in bank accounts, P200,000 in books, P150,000 in pieces of jewelry, P400,000 in appliances and furniture, and cash-on-hand in bank of P4.6 million.
The governor also owns a Toyota Corolla Altis sedan with an acquisition cost of P869,000 and a Hyundai Tucson SUV worth P1.4 million. The vehicles were purchased in 2010 and 2011 respectively.
Relatives
Davide is connected with Recovery Management Services, a collection agency acquired by his wife Jobella in 2003.
His wife’s family also owns ZL Angan Development Inc. in Tagbilaran City, Bohol.
The governor’s liabilities amounted to P4.5 million, listed as a housing loan (P3,855,100), car loan (P177,309), and credit cards (P450,000).
Davide has seven relatives working in the government. They are his sister Noreen (executive assistant of the Court of Appeals in Manila); his brother-in-law Police Chief Supt. Josephus Angan (regional director of the Police Regional Office in Camp Delgado in Quezon City); his cousin Cecile Dumdum (an employee of the Department of Foreign Affairs); his cousin Agnes Zafe (an employee of the Bureau of Internal Revenue in Cebu City); his cousin Adeline Cid (employee of the CA in Cagayan de Oro City); his cousin Maybelle Ann Perez (employee of the Supreme Court); and cousin-in-law Court of Appeals Associate Justice Japar Dimaampao.
All government employees and officials are required under the Anti-Graft and Corrupt Practices Act and the Code of Conduct and Ethical Standards for Public Officials and Employees to submit their SALN to the Ombudsman.
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
