• ‘Interest income’ ups Aquino’s net worth

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     President Benigno Aquino 3rd delivers a speech at the launching of the Bohol Fabrication Laboratory Shared Service Facility in Tagbilaran City on Friday. MALACAÑANG PHOTO

    President Benigno Aquino 3rd delivers a speech at the launching of the Bohol Fabrication Laboratory Shared Service Facility in Tagbilaran City on Friday. MALACAÑANG PHOTO

    TAGBILARAN CITY: President Benigno Aquino 3rd on Friday said his net worth increased in 2013 because of “interest income.”

    The President did not give an exact figure, but said his assets last year rose by P1.3 million.

    For 2012, Aquino declared a net worth of P65.13 million in his statement of assets, liabilities and net worth (SALN).

    “My statement of assets, liabilities and net worth has already been submitted to the Ombudsman,” he told reporters. “If I am not mistaken, it increased by P1.3 million.”

    The President said his net worth grew in 2013 due to interest income from the bank, stocks, investment and inheritance from his parents, the late opposition leader Benigno “Ninoy” Aquino Jr. and former President Corazon Aquino.

    Last year, Aquino got his inheritance from his late parents, which included sole ownership of the Aquino residence on Times Street in Quezon City.

    “[It was] primarily interest income,” the President said of the “major” increase in his net worth.

    He came to Tagbilaran to launch the Bohol Fabrication Laboratory Project. The project, which is under the Department of Trade and Industry, aims to boost the province’s creative industry sector and micro-small medium enterprises through providing better technology and modern equipment and assistance in product design and development.

    The 51-year-old bachelor said he expects his last SALN as president to have a “marked reduction” when he steps down in 2016.

    “I have divested from all [my]other interests. To a large degree, my expenses for clothes, among others, are being handled by my sisters and are being liquidated by them,” Aquino added.

    “I will pay them [back]by the time that I recover full control of the assets that I have.
    They paid it for me to a large degree, so I expect my last SALN to have a marked reduction,” he said.

    The President’s sisters are Ballsy Aquino-Cruz, Pinky Aquino-Abellada, Viel Aquino-Dee and Kris Aquino.

    His net worth of P65.13 million in 2012 reflected a couple thousands less than the amount he declared in his SALN in 2011.

    He did not acquire any new property and remained liability-free in 2012.

    The house and lot on Times Street accounted for the bulk of his real-estate assets, which reached P32.16 million.

    After selling his Porsche car six months after he bought it in 2011, his non-property assets in 2012 stayed steady at P29.4 million.

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