Noy poorer in 2012 …by P1,600

MANILA, Philippines - President Aquino grew poorer in 2012, but only by a meager amount of P1,600, his statement of assets, liabilities and net worth (SALN) showed.

The minimal decrease in wealth was attributed to his sale of a 2005 Ford Everest, which was apparently sold at a price lower than acquisition cost.

In 2011, President Aquino declared his net worth at P65,130,264 but as of Dec. 31, 2012, he said he is worth P65,128,604.

His cash on hand and cash in bank, however, increased primarily due to interest from P26.2 million to P27.4 million.

From P54.999 million in 2010, President Aquino grew richer by P10.130 million in 2011, which was attributed to inheritance since the transfer of the inheritance was completed in 2011.