Binay richer by P2 M in 2012

MANILA, Philippines - Vice President Jejomar Binay became richer by almost P2 million in 2012, as shown in his latest statement of assets, liabilities and net worth (SALN) submitted to the Office of the Ombudsman recently.

The increase in his wealth is reflected mostly in the amount of cash he has on hand and in banks, which went up from P21.3 million in 2011 to P22.5 million last year.

Binay’s receivables also increased from P3 million to P6 million along with the value of his vehicles: a Ford Club Wagon and a Toyota Land Cruiser that went up by P600,000.

The second highest executive official of the country said his personal and other properties are now valued at P66.4 million while his real properties are worth P13.8 million.

Binay listed the same but lower liabilities in the amount of P6.5 million covering income tax payables and balances for a lease-to-own vehicle.

In total, he declared his net worth as of Dec. 31, 2012 at P59.804 million as against P57.879 million the previous year.

Binay also listed only three relatives in government: Makati City Mayor Jejomar Erwin Binay Jr., Makati 2nd District Rep. Mar-len Abigail Binay, and his executive assistant Marita Angeline B. Alcantara.

And surprisingly, Makati Mayor Jejomar Jr. declared wealth of only P12.031 million in his SALN submitted to the Ombudsman.

The younger Binay was the third poorest among the 16 Metro Manila mayors that submitted their 2012 SALN.

Vice President Binay said he still has business interests or investments in his wife Elenita’s flower shop in the amount of more than P4.1 million.

Like President Aquino and the heads of constitutional bodies, Binay is required by law to file his SALN before the Ombudsman yearly.