Robredo’s statement on assets reveal decline in net worth
May 17 2018 01:06 AM
Leni Robredo: fall in net worth
Leni Robredo: fall in net worth

By Ma. Reina L Tolentino/Manila Times

Vice President Maria Leonor Robredo’s net worth fell by 87.45% to P1,114,102.84 as of year-end 2017.
Her net worth dipped by P7.76mn from P8,878,111.43 as of year-end 2016, based on her Statement of Assets, Liabilities and Net Worth (SALN) as of December 31, 2016 and her SALN as of December 31, 2017.
Robredo’s cash fell by P2,764,008.59 and her liabilities rose by P5mn.
“Lower net worth due to partial counter-protest fee deposited with PET,” according to the SALN for 2017.
PET is the Supreme Court sitting as the Presidential Electoral Tribunal.
Former senator Ferdinand Marcos Jr filed an electoral protest in June 2016 challenging Robredo’s win in the May 2016 race for vice president.
The electoral tribunal began the manual recount of votes from the provinces of Camarines Sur, Iloilo and Negros Oriental on April 2.
“She had to borrow money to pay the protest fees required by the PET. Supportive citizens raised money through contributions and attempted to submit to the PET, but their petition was denied. So the vice president had to raise the money herself,” Ibarra Gutierrez, Robredo’s legal adviser, said. Robredo’s net worth for 2017 was computed by deducting her total liabilities (P11.9mn) from her total assets (P13.01mn).
Based on her SALN for 2017 that was submitted to the Office of the Ombudsman on April 30, the vice president’s assets totalled P13,014,102.80.
Among the assets were seven pieces of real property in her hometown of Naga City, Camarines Sur: a residential lot donated in 1994, a residential lot purchased in 2000, a house acquired in 1996, two agricultural lots purchased in 1995, an agricultural lot purchased in 2000, an orchard lot purchased in 1995 and a memorial lot donated in 2012.
Robredo’s pieces of personal property included cash worth P6,176,102.84; “Furniture, Appliance and Other” worth P1.5mn; jewellery worth P100,000; pre-paid insurance worth P630,000; a Toyota Innova acquired in 2010 for P1,123,000; and a Toyota Grandia acquired in 2014 for P1,750,000.
She disclosed P11.9mn in liabilities – loans payable to the estate of Marcelina Robredo (P1mn), the estate of Jose Robredo (P2mn), Jose Robredo Jr (P1.15mn), Jocelyn Austria (P2mn), Salvacion Gerona (P750,000), Pablito Chua (P1mn), Vicente Hao Chin Jr (P2mn) and Rafael Bundoc (P2mn).
The loans payable to the estate of Marcelina Robredo, the estate of Jose Robredo, Jose Robredo Jr, Jocelyn Austria and Salvacion Gerona were listed on the Vice President’s SALN for 2016.
Robredo reported shares of stock in Meralco in her SALN for 2017.
She listed names of her relatives in the government service in 2017, namely: her brother-in-law Rafael Bundoc and her sister-in-law Josephine Bundoc, both doctors at the University of the Philippines-Philippine General Hospital Manila.
A SALN is a declaration made under oath of assets (lands, houses, cash), liabilities (personal or institutional loans) and business and financial interests of a government official or employee, of his or her spouse and of his or her unmarried children under 18 years age, who are living in their parents’ households.
Under the law, all government officials and employees must submit their SALN within 30 days after they assume office and then on or before April 30 of every year and within 30 days after they separate from the service.

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