Cynthia Villar insists no conflict of interest in family-owned business

Senator Cynthia Villar on Wednesday said she does not see conflict of interest in her being a legislator and a member of the family that owns a property developing firm.

Interviewed on Dobol B sa News TV's Ikaw Na Ba? series of senatorial interviews, Villar, wife of former Senate President Manny Villar, said the lengthy process of legislation makes it difficult for a lawmaker to protect business interests.

"Pag legislator ka, di lang naman kami ang boboto. Boboto ang Kongreso, boboto ang Senado, puwede pa rin i-veto ng president," she said.

"Paano naman mai-influence ng isang legislator yung buong process of bicameral at meron pang presidential veto? Medyo mahirap yun," she added.

Villar, meanwhile, defended Vista Land from accusation of land-grabbing involving agricultural land for its house construction projects. "Paninira lang yan. We don’t buy lands na may question ang title," she said.

She explained that most of the firm's real estate buyers pay through bank loans, and banks are requiring them to present the title of the house first before lending them money.

"Kailangan i-deliver namin yung titulo ng bahay sa bangko bago sila maka-release ng loan na ibabayad sa amin,” Villar said.

“Do you think if ni-land grab namin yung lupa magkakatitulo yun at made-deliver namin nang maayos sa bangko?” she asked.

As of 2017, Villar is the richest senator with a net worth of P3,611,260,766, based on her Statements of Assets, Liabilities and Net Worth.

The Villar family owns property-developing firm Vista Land, a listed company.

"Kami public company kami, ran by professional managers. We're listed in Philippine Stock Exchange [which means] ino-audit ng magagaling," she said. —with Joviland Rita/KBK, GMA News