CEBU, Philippines - Cebu Provincial Board Member Raul Alcoseba is now the richest elected Capitol official based on his latest Statement of Assets Liabilities and Net Worth filed before the Office of the Ombudsman-Visayas.
Alcoseba, one of the first district representatives to the Provincial Board, tops the list of millionaires in the provincial government with a total P72.98 million net worth as of December 31, 2015. His net worth grew by P4.21 million compared to his P68.78 million net worth in the previous year.
Alcoseba bumped off PB Member Arleigh Sitoy from the top spot with the latter's net worth slightly decreasing from P72.8 million in 2014 to P69 million in 2015.
Sitoy recorded slight decrease in his net worth from P73.3 million in 2013. Alcoseba declared a total assets (personal and real properties) of P72.426 million and liabilities of P550,000.
Alcoseba's real properties which he claimed to have inherited include lots in Capitol Site and Banawa Cebu City acquired in 2002 and a house in Banawa. His total inheritance was P65.026 million.
He also acquired a grill/resto at P6.5 million and "The Monastery" in Lahug at P4 million, both through lease; P16.5-million school building in Banawa acquired through bank loan, and five vehicles amounting to P7.8 million through mortgage.
The five vehicles include three Toyota Hilux, Fortuner and Grandia, one Ford Explorer and Kia K2700 4X2. Mostly were acquired in 2013, while KIA was bought sometime in 2007.
He disclosed as personal properties his appliances totaling to P800,000; jewelry (P1.5 million); stocks/equity (P1 million); cash in bank amounting to P5 million; and private insurance-premiums worth P200,000.
He reported a school (Cebu South Hills International School in Banawa) and restaurant (Yayoy's Grill) as his business interests that he acquired in 2006. He reported no relatives in government service.
Declarants are required to include in their SALN their relatives within fourth degree of consanguinity in the government service.
The submission of SALN is required under the 1987 Constitution and Republic Act No. 6713 (Code of Conduct and Ethical Standards for Public Officials and Employees).
Sitoy, who is the second richest Capitol official, has a total of P70.3 million in assets while his liabilities reached to P1.3 million covering his personal and GSIS housing loans.
Sitoy's real properties worth P62 million include lots in Marigondon (3 lots), two in Gabi, one in San Miguel, and one in Poblacion, Cordova, where his father Adelino is mayor. He also owns a house and lot in Inopacan, Leyte; and a condominium unit in Mandaluyong City. Except for the condo unit that he acquired in 2004, all were inherited by him.
He disclosed as personal properties his appliances amounting to P1 million, jewelry (P2.5 million), books (P1 million), and three vehicles (P3.8million) acquired in 2013 and 2015. He reported no cash in bank. He has housing and personal loans amounting to P1.3 million as liabilities.
Vice Governor Agnes Magpale declared P59 million net worth, which is higher than the P58 million she declared in 2014 and P57.38 million in 2013. Board Member Grecilda Sanchez has P50.693 million net worth, higher than the P50.693 million in 2014.
Completing the millionaires’ clique in the provincial government are PB Members Alex Binghay with P22.396 million net worth; Sun Shimura (19.339 million); Peter John Calderon (P17.914 million); Thadeo Ouano (P13.7 million); Celestino Martinez III (P6.6 million); Christopher Baricuatro (P4.575 million); Julian Daan (P3.485 million); Miguel Antonio Magpale (P3.35million); Jude Thaddeus Sybico (P2.170 million); Carmen Remedios Durano-Meca (P2.083 million); and Joven Mondigo Jr. (1.8 million).
Some of the PB members are richer than Governor Hilario Davide III who posted a net worth of P18.9 million, lesser than the P19.4 million in 2014. — (FREEMAN)