Speaker Dy discloses P74 million net worth

Speaker Faustino “Bojie” Dy III on Wednesday released his Statement of Assets, Liabilities, and Net Worth (SALN), disclosing a net worth of P74 million.

At the same time, the Speaker announced the establishment of the SALN Review and Compliance Committee of the House of Representatives, which will craft guidelines for publicly releasing SALNs of House members in accordance with Republic Act 6713 or the Code of Conduct and Ethical Standards for Public Officials and Employees.

Dy listed around P32.53 million worth of assets, which include 11 agricultural lots, one residential lot, and three residential houses.

Of these 15 real properties, Dy inherited two agricultural lots and two residential houses.

As for personal properties, Dy recorded a total of P88.6 million. Of the said amount, P27.5 million was listed as investment, while P25 million was cash.

Dy also declared P12 million worth of jewelry and other personal items as personal property; P10 million for warehouse farm improvement; a P3.6 million Toyota Alphard van; a P2.8 million Toyota LC 76 Series, among others, as personal properties.

Dy’s liabilities totalled P47.1 million, broken down to: P40 million worth of accounts payable and P7.124 million worth of agricultural loans.

The Republic Act 6713, or the Code of Conduct and Ethical Standards for Public Officials and Employees, expressly mandates that SALNs must be made available for inspection at reasonable hours and for copying after 10 working days from the time they are filed, subject to prescribed regulations. 

Likewise, Article 11, Section 1, Article 1 of the Constitution provides that "public office is a public trust. Public officers and employees must at all times be accountable to the people, serve them with utmost responsibility, integrity, loyalty, and efficiency, act with patriotism and justice, and lead modest lives.”

Aside from Dy, there were at least eight House members who already disclosed their SALN —Akbayan party-list representatives Chel Diokno, Percival Cendaña and Dadah Ismula, Dinagat Rep. Arlene "Kaka" Bag-ao, ACT Teachers party-list Rep. Antonio Tinio, Gabriela party-list Rep. Sarah Elago, Kabataan party-list Rep. Renee Co and Cavite Fourth District Rep. Francisco "Kiko" Barzaga. —LDF, GMA Integrated News