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Salceda, 4th richest gov in Bicol; Cua is 3rd richest, has least cash

July 12, 2012 by bicolmail in Top Stories

By Ramil D. Soliveres

VIRAC, Catanduanes  –  Albay Gov. Jose Ma. Sarte Salceda in his 2010 Statement of Assets, Liabilities and Networth (SALN) has declared P51.5M worth of assets from real, personal and other properties combined, thus putting him next to Catanduanes Gov. Joseph C. Cua, who has a little more than P58M, in assets in the 4th and 3rd ranks respectively, among the richest governors in Bicol.

Based on their 2010 SALN,  Cua and Salceda registered the highest liabilities among Bicol governors.

In earlier report, Gov. LRay Villafuerte was ranked the richest based on his 2010 SALN with his networth placed at P221M. Gov. Edgardo Tallado of Camarines Norte came as the second richest with a networth of P63M while Sorsogon Gov. Raul Lee who declared his networth at P1.8M was rated as the poorest.

Cua disclosed loans from Naga City banks at more than P9.3M and other payables in the amount of more than P8M while Salceda posted liabilities that include personal loans worth P5M and mortgage payables amounting to P11.7M.  The total networth of Govs. Cua and Salceda in 2010 were P40.3M  and P39M, respectively.

Cua declared the least cash amounting to only P369,227.44 as against Sorsogon Gov. Lee with P543,376.62.  Seachon-Lanete of Masbate had P1.9M cash, Salceda with P2.8M and Camarines Sur Gov. LRay Villafuerte with P7M. On the other hand, Gov. Tallado of Camarines Norte, despite him being the second richest governor of Bicol (next to Villafeurte) had declared zero cash in his SALN.

Gov. Salceda invested more on real properties. In 1998, he only had 4 properties valued at P7.1M  comprising of 3 lots and a golf unit in Boracay. The amount jumped more than double in 1999 when he acquired 5 more parcels of land, pushing his real properties in the total amount of P15.6M. Another parcel of land was added in his 2001 SALN, raising real properties to P20.1M. In 2003 and 2004, Salceda acquired a couple more lots while 6 parcels were added in the years 2005, 2006, 2009, and 2010. After all these land acquisitions, Salceda placed his real properties from P7.1M in 1998 to P46.3M in 2010.

In 12 years in government service, the Albay governor realized more than P39M in real properties alone.

On the other hand, Salceda’s personal and other properties dropped from P13.2M in 1998 and P15.9M in 2009 to P5.2M in 2010. These properties include vehicles, jewelries, investments, cash and receivables.

But it appears that Gov. Cua has the most number of acquired real properties. In 2007 during his first term as governor, his real properties were placed at P32.7M which consisted of 19 parcels of land from San Andres and Virac towns, 7 buildings also from the same municipalities, a commercial property in San Andres and a house and lot in Quezon City P13M.

In his 2010 SALN, Cua posted 24 parcels of land worth  P37M.  His personal and other properties during the same period amounted to P20.9M which include unnamed personal properties worth P1.9M, stocks and investments at P13.7M, vehicles worth P5M and cash of only P369,000.00.

Cua, enumerated in his 2010 SALN his business and financial connections, including those of  his spouse Nancy, as follows: Eastern Island Shipping Lines, Inc., Island Gasoline Station, JC Cua Construction & Supply, Food Haus & Slapshock, JC Cua Realty & Dev’t. Corp., Manila Hemp Trading Corp., Ocean Coast Shipping Corp., Powerdrive Gear Motors, Inc., Powerzone Petroleum Products Corp., Regina Shipping Lines, Inc., RSL Bus Transport Corp., Virac Home Resort Realty Corp., and 168 Shipping Inc.

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