Slight changes seen in Davide, Magpale wealth

CEBU, Philippines - The wealth of Cebu Governor Hilario Davide III and Vice Governor Agnes Magpale showed slight changes in the past three years as reflected in their statements of assets, liabilities and net worth (SALNs).

In his 2015 SALN, Davide posted a net worth of P18.9 million, lesser than the P19.4 million in 2014, but higher than the P14 million in 2013.

Davide declared total assets of P22.56 million, of which P7.9 million is his real properties and P14.6 million are personal properties.

He listed in his real properties the two residential lots purchased in 2000 and 2002, respectively, and an agricultural lot acquired in 1994.  He also listed a condominium unit purchased in 2008 and a house in 2012, both cost more than P3 million.

In his personal properties, he declared owning a P1.3-million Hyundai Tucson and Mitsubishi Montero Sport (P1.4 million) acquired in 2011 and 2014, respectively. Apart from these, he also owned books, jewelry, appliances, furniture, cash in bank, a joint account with his wife, and another account for his wife’s business.

His liabilities, on the other hand, reached P3.6 million in housing loan, car loan, and credit cards.

When interviewed by the media, Davide attributed the slight decrease of his wealth to the payment of his loans.

Under business interests and financial connections, the governor listed his wife’s business, namely the collection agency Recovery Management Services in Cebu City, and ZL Angan Development, Inc. in Tagbilaran City, Bohol.

Further, Davide listed five relatives in government service: his sister Noreen Davide-Salas, an executive assistant at the office of Court of Appeals Justice Japar Dimaampao in Manila;  his cousins Agnes Zafe (employee at the Bureau of Internal Revenue),  Adeline Ivy Perez (chief of Archives Division of Court of Appeals in Cagayan De Oro City), and Maybelle Ann Perez (records officer of the Office of the Deputy Court Administrator of the Supreme Court; and Court of Appeals Associate Justice Japar Dimaampao, his cousin-in-law.

Vice Governor Agnes Magpale, on the other hand, declared a net worth of P59 million, which slightly increased from P58 million in 2014 and P57.38 million in 2013.

She declared in her latest SALN a total of P59 million in assets, P17.8 million of which is her personal properties and P41 million worth real properties. She posted no liabilities.

As to her business interests and financial connections, Magpale listed Northeastern Cebu Colleges and J.D Almendras Agro Industrial Development Corporation, all in Danao City.

Magpale is the sister of Department of Foreign Affairs Secretary Jose Rene Almendras, mother of Board Member Miguel Antonio Magpale and Commissioner Josefina Patricia Asirit of the Energy Regulatory Commission, and cousin of Danao City Mayor Ramon Durano III.

She has eight nephews and nieces holding elective offices in the province, namely, Fifth District Representative Ace Durano, Danao City Councilor Jed Almendras, Sogod Mayor Lissa Marie Durano, Samboan Mayor Raymond Joseph Calderon, and Board members Jude Thaddeus Sybico, Carmen Remedios Meca, and Peter John Calderon.

Davide and Magpale are seeking reelection. – (FREEMAN)