Filipino billionaires listed in Panama Papers database

Patricia Lourdes Viray (Philstar.com) - May 9, 2016 - 11:50pm

MANILA, Philippines — Some of the Filipinos included in the Forbes magazine's annual billionaires list are also listed in the biggest leak of tax records from Panamanian law firm Mossack Fonseca.

The International Consortium of Investigative Journalists published the database of the Panama Papers which includes nearly 214,000 offshore entities created in 21 jurisdictions.

READ: ‘Panama Papers’ list global tax avoiders

SM Prime Holdings chair Henry Sy Jr., eldest son of Henry Sy Sr., was listed as a shareholder of Success House International Limited, registered in the British Virgin Islands, and Ideal International Ltd., registered in Samoa.

Sy Sr. and his family, with a net worth of $13.3 billion this year, remain the richest in the Philippines, according to Forbes.

Emperador Distillers owner Andrew Tan was listed as a beneficiary of Shiok Success International Ltd., registered address in Macau, and Dew Dreams International Ltd., with registered address in Quezon City, Philippines.

Tan, who is also affiliated with Megaworld, McDonald's and Resorts World Manila, ranks sixth in the list of Filipino billionaires.

Three members of the Angara clan, Henry Sy Jr. and Irene Marcos-Araneta are among the prominent Filipinos also listed in the Panama Papers database.

Former Sen. Edgardo Angara, his wife former Aurora Rep. Gloria Angara and their son Sen. Juan Engardo "Sonny" Angara were all listed as shareholders of Arkwright Assets Limited, a company registered in the British Virgin Islands.

Irene Marcos-Araneta, sister of vice presidential aspirant Sen. Ferdinand "Bongbong" Marcos Jr., and her husband Gregorio Ma. Araneta III are listed as officers of Orient Wind Development Limited which is registered in the British Virgin Islands.

Former Sen. Consuelo "Jamby" Madrigal was also in the list as a shareholder of Vines Global Limited, a company registered in the British Virgin Islands.

ABS-CBN Eugenio Lopez III was also in the list for his connection to Derrydowns Limited, registered in the British Virgin Islands.

San Miguel Corp. (SMC) is listed as a shareholder of Carmen Red Ltd., a company with listed address in Beijing, China but registered in the British Virgin Islands. SMC shareholder Inigo Zobel is also in the list as an officer of Southern Isles Limited, registered in the British Virgin Islands.

The Panama Papers is a trove of more than 11.5 million leaked files from Mossack Fonseca. ICIJ, however, clarified that it will not publish the totality of the leak nor will it disclose raw documents.

"The database contains a great deal of information about company owners, proxies and intermediaries in secrecy jurisdictions, but it doesn’t disclose bank accounts, email exchanges and financial transactions contained in the documents," the ICIJ said in its report published on Tuesday.

RELATED: Panama Papers: Are Filipino politicians tagged in the biggest leak in history?

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