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Binay declared more assets, liabilities in 2014

MANILA, Philippines – Vice President Jejomar Binay declared in his latest Statement of Assets, Liabilities and Net Worth (SALN) an increase in assets – which include a previously undeclared land – and a big jump in his liabilities in 2014.

Based on his 2014 SALN, Binay declared a net worth of P60.25 million, a slight increase from his P60.12 million net worth in 2013:

Under real assets, Binay declared in his 2014 SALN the same properties listed in his 2013 SALN, and added a "residential/agricultural lands with improvements" in "Liyang, Pilar, Bataan" purchased in 1991. Its acquisition cost is P47,795.

In a Phillippine Star report, it was explained that this property was previously lumped with other real properties listed in the SALN. Mentioning this property in the latest wealth declaration complies with a Civil Service Commission (CSC) mandate that properties shall be declared with their exact locations specified.

This land is one of the 8 properties which ABS-CBN reported in February were  not declared in Binay's 2013 SALN. But the Binays defended that declaring some of these questioned properties in the patriarch's SALN would only make them double entries.

Higher liabilities

Moreover, Binay declared a more than 100% increase in his liabilities.

In his latest declaration, Binay listed the same items from his 2013 SALN, and added the item "personal loan" from a certain Grace Mercado worth P10 million. 

Below is the table of Binay's SALN breakdown since he assumed the vice presidency in 2010: 

The deadline of filing of annual SALN was on April 30. Aside from Binay, President Benigno Aquino III and heads of constitutional offices are required to file their SALNs with the Ombudsman's central office. 

The Court of Appeals (CA) issued on May 11 a freeze order on several bank accounts and investments of Binay, his family, and his alleged dummies due to alleged “unlawful activities.” – with reports from Janina Lim/Rappler.com