Bongbong bares art collection in 2012 SALN

MANILA, Philippines - Sen. Ferdinand “Bongbong” Marcos Jr. listed in his statements of assets, liabilities and net worth (SALN) for 2012 his art collection of 65 paintings, including a work by national hero Jose Rizal done in 1888.

The 12x15 “Los dos pintores, Juan Luna y Felix R. Hidalgo” by Rizal has an appraised value of P5 million. Marcos acquired it as a “gift” in April 1993.

The namesake and only son of former President Ferdinand Marcos also listed “Ocean Gem,” by National Artist Jose Joya in 1976. The senator acquired the work in September 1993 at P1.2 million, but as of December 2012 it was worth P2.5 million.

The Marcos scion also owns two works by National Artist Vicente Manansala: Nude (back view of a woman), 1967 and Nude (woman in a chair), 1974. 

The 1967 work was a gift to him in April 1993 while he purchased the 1974 work in September 1997 for P700,000.  The Manansala nudes are worth P1.2 million and P850,000, respectively.

Marcos also owns 17 paintings by National Artist Benedicto Cabrera such as “Woman by the fence,” “Peasant woman,” “Sabungero,” “Pidoy,” “Carabao studies,” a section of “Peasant series,” three versions of “Sabel,” “Brush strokes book II,” and “Lovers.”

Other titles were by artists Gus Albor, Eugenia Alcaide, Atong, National Artist Ang Kiu Kok, Manuel Baldemor, Adelle Dimalanta, Ibarra de la Rosa, Lao Lianben, National Artist Arturo Luz, Romulo Olazo, Onib Olmedo, Alex Van Hagen and Rocio Zobel.

In all, his art collection is worth P16.697 million. The paintings were acquired between 1993 and January 2011.

Marcos did not itemize his art collection in his SALN in 2011. He explained in his new SALN that the need to itemize and appraise the paintings was pursuant to the guidelines issued by the Civil Service Commission and inspired by the issues raised during the impeachment trial of former chief justice Renato Corona.

Marcos, who filed a joint SALN with his wife Louise Araneta-Marcos, included the list of paintings in an annex to his SALN, where he outlined the artworks as part of his personal properties.

His real and personal properties, meanwhile, include vast properties in La Trinidad, Benguet; Laoag and Pagudpud in Ilocos Norte; Cabuyao, Laguna; and condominium units in Wack Wack Road, Mandaluyong and in Ayala Avenue in Makati City.

The Marcos couple’s jewelry amounted to P15 million. They also listed nine vehicles and P20 million in shares of stocks.

Their liabilities were placed at P34.106 million.

Marcos’ total net worth is P192.711 million, excluding “interest as compulsory heir of his father.”

It is noted in the SALN that the late president’s estate remains undetermined.

Jinggoy richer

Meanwhile, Senate President Pro-Tempore Jinggoy Estrada declared a net worth of P193.6 million, which is P26.88 higher than the P166.72 million he filed in 2011.

In his joint SALN with his wife Precy, Estrada placed his assets at P215.2 million and his liabilities at P21.65 million.

The son of former President Joseph Estrada declared as part of his assets five condominium units, two lots, a town house and farm lot totaling P66.07 million.

He listed cash on hand and in bank totaling P15.9 million, while his jewelry is estimated at P1.46 million, vehicles at P8.27 million, furniture at P4.24 million, and investments at P119.16 million.

Estrada also made public that he is a stockholder of four firms based in San Juan City, while four of his relatives are in government.

They are Laguna Gov. Emilio Ramon Ejercito; Pagsanjan Mayor Maita Ejecito; San Juan Rep. JV Ejecito and San Juan Councilor Jana Ejecito. 

He also has another relative, Juan Carlos Vitug, who works at the Senate.

Estrada made public his SALN for 2012 a week after the April 30 deadline, making him the eighth senator to make the document available for public scrutiny.

The office of the Senate secretary said it is releasing SALNs by May 10. Since May 10 is a Friday, a no-work day at the Senate which follows a four-day work week, the Senate secretariat is likely to start releasing copies of the senators’ SALN by May 14, a day after the elections.