Best of the Philippines

BIÑAN, Laguna - The prosperous industrial-commercial town of Biñan, home of the industrial estates Laguna Technopark II and the Laguna International and Industrial Park, topped the country’s municipalities in net income in fiscal year 2004. Continue below.

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According to audited 2004 financial reports of local government units (LGUs) released last week by the Commission on Audit (CoA), Biñan, led by Mayor Hermis Perez, earned a net income of P195.7 million in 2004, besting 1,418 other municipalities across the nation.

Number two on the list of top net income earners among municipalities was Rosario, Cavite, with a P186.7 million net income. In third is Cainta, Rizal, with a P142.9 million net income.

Also in the top 10 net-income earners are the Laguna municipalities of Cabuyao (No. 5) with P106 million and Siniloan (No. 10) with P51.2 million. Cabuyao is led by Mayor Nila Aguillo while Siniloan is led by Mayor Gilmore Acero.

Meanwhile, the city of Calamba, Laguna, led by Mayor Joaquin Chipeco, Jr., ranked No. 9 among 117 cities nationwide in net income with P355.4 million in 2004.

Biñan, also known as the “Divisoria” of Southern Luzon, ranked second in gross income. The municipality’s gross income of P499.8 million was bested only by the municipality of San Juan in Metro Manila which recorded a gross income of P565.6 million.

Cabuyao placed third in gross income with P443.3 million. Among the towns with biggest current assets (cash, receivables, and pre-payments), Biñan ranked no. 2 with P399.4 million, again topped only by San Juan with P529.7 million in current assets.

Biñan was third P213.9 million) among the municipalities in the Philippines with substantial cash in bank.

Among the municipalities with the highest Internal Revenue Allotment (IRA) - the LGUs’ share from national income - San Pedro of Laguna was No. 6 with P115.2 million. Biñan ranked 10th with P103 million.

Biñan P830.1 million) and Cabuyao (P698.2 million) were third and fourth, respectively, in terms of equity (assets minus liabilities).

August 28, 2005

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