Binay Farms: A Mere Lessee of a 9-hectare Property in Rosario, Batangas-OVP

Before the photos of alleged Batangas property of Vice president Jejomar Binay were circulated in national dailies on Wednesday, the employees at a piggery and flower farm leasing a property in Rosario, Batangas have reported a helicopter flying around the property Thursday last week, Joey Salgado, Head of the Office of the Vice President Media Affairs, said.

In a statement, Salgado said the said helicopter flew around the property for about 20 minutes. According to the employees, this was the first time that such an incident happened.

“But we will not be surprised if in the coming days, video footage or photos of the property will be circulated in media and perhaps even presented in the Senate sub-committee hearing alleging that Vice President Binay is the owner of the said property,” he said.

Expressing pity to its detractors, Salgado reiterated what the lawyers of the Vice President told media in their presentation on the Statement of Assets, Liabilities and Net Worth (SALN) of the Vice President and his spouse, former mayor Elenita S. Binay.

Salgado revealed said that in 1994, the Vice President started a piggery business in Rosario, Batangas through a sole proprietorship under the name JCB Farms. JCB Farms is duly registered in the BIR–Rosario, Batangas office.

JCB Farms is a mere lessee of a 9-hectare property in Rosario, Batangas.

The Leasehold Improvements introduced by JCB Farms are duly reported in its annual audited financial statements and in the tax declarations duly filed with the appropriate local government unit, the statement added.

A flower shop business owned by Dr. Binay (Blooms and Bouquet) has also been sourcing its flower requirements in a flower farm in Rosario, Batangas, it added.

“The piggery and flower farm both explain the Vice President and his family’s visibility in Rosario. JCB Farms earned for the Vice President an additional net income of P44,350,921.88 from 1994 to 2010…” he said.

Salgado added that during said period, the Vice President paid taxes amounting to P15,889,581.83.

“After the 2010 elections, he (VP Binay) disposed of his business interests for a profit in JCB Farms as well as his investments in shares of stocks. He initially invested P400,000.00 in stocks in 1994,” Salgado said in a statement.

Image Credit: newsinfo.inquirer.net