00:00To give the public a clearer value of the President's assets, this is the reason the palace stated regarding the inclusion of a professional appraisal in the Statement of Assets, Liabilities, and Net Worth, or SALEN, of President Ferdinand R. Marcus, Jr.
00:15In a SALEN for the period ending December 31, 2024, the President declared his net worth of P371.49 million in 2022, with a praised asset value of P960.7 million, while his 2023 net worth shows P381.44 million, with a praised asset value of P1.157 billion.
00:41According to the Presidential Communications Office, Cuervo Appraisers, Inc. was hired to conduct an analysis of the value of the President's properties, this to make SALEN declarations clearer and consistent in the current market, aiming to show the value of properties that were acquired long ago and how their value changes over time.
01:03Although the SALEN rules mainly require the declaration of acquisition costs or the original price paid for a property, it also allows the addition of a separate appraisal to show the current fair market value.
