COA chief richer than P-Noy; Ombudsman wealthier by P1.7 M

MANILA, Philippines - The head of the Commission on Audit (COA) is now richer than President Aquino, while the Ombudsman has also become wealthier in 2012, according to their latest statement of assets, liabilities and net worth (SALN).

The wealth of COA chair Ma. Gracia Pulido Tan increased from P64.118 million in 2011 to P65.731 million in 2012 due to the decrease in her liabilities or payables, from P17.070 million to P15.870 million.

Tan’s real properties of 13 houses and lots, including one in Florida, remained at P36.058 million, but her other personal properties went up from P45.130 million to P45.543 million due to increased value of stock investments.

With her new net worth, Tan is now richer by P.6 million than President Aquino, who in his own SALN declared himself to be worth P65.128 million as of Dec. 31, 2012.

Last year, The STAR reported that Tan was almost as rich as Aquino and far wealthier than her fellow constitutional commission heads like Ombudsman Conchita Carpio-Morales and Commission on Elections Chairman Sixto Brillantes Jr.

Tan, a former undersecretary of the Department of Finance, admits she has business interests and financial connections in 72 companies, corporations, clubs, and other organizations.

She also declared four relatives working in government, including her niece Zayra Domini Abraham who is a COA executive assistant.

Morales, on the other hand, is richer by P1.784 million in 2012, according to her new SALN.

She declared the same nine real properties that she bared last year and added “improvements” worth P630,000, which increased the value of her land, houses and condominium units to over P14.739 million.

She also listed the same amount of liabilities of P2 million representing unpaid amortization of a condominium unit bought from Eton Group of Companies.

The Ombudsman, a retired Supreme Court associate justice, sold one of her cars, a 2011 sedan, which she previously valued at P543,584 – contributing to higher figures for her personal properties.

Her cash investments inclusive of retirement benefits also went up from P25.5 million in 2011 to P27.2 million in 2012.