veryhot_post - P99,616,000 - Philippine Laws Author Topic: P99,616,000  (Read 2804 times)

benelynne

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P99,616,000
« on: May 21, 2008, 09:08:40 AM »
PHP 99,616,000

This is the personal net worth of President Gloria Macapagal-Arroyo in 2007 as declared in her statement of assets, liabilities and net worth (SALN).

This makes her P11 million richer than in 2006 when she declared a net worth of P88,588,000.

The president is paid a salary of P693,000 a year.

She has 7 real estate properties amounting to P6,875,637. These properties consist of a house and lot in Baguio; residential lot in Antipolo City in Rizal; commercial lot in Tayabas in Quezon; agricultural lands in San Rafael, Bulacan and Nasugbu, Batangas; and raw land in Coron, Palawan.

The bulk of her assets are accounted for by stocks amounting to P62,919,000.

She has cash on hand and in bank deposits of P11,266,853.51 and jewelry worth P3,400,000.







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Re: P99,616,000
« Reply #1 on: May 21, 2008, 09:12:10 AM »
The president is paid a salary of P693,000 a year.

Mao ni ang salary sa presidente sa nagdangoyngoy nga nasod?No wonder daghang gustong mulingkod no?Grabe.Mura'g matugkan ko ug daghang ugam ani kong akong presidente unya ani akong salary while my people halos magdildil na lang ug asin para mabuhi lang.


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Re: P99,616,000
« Reply #2 on: May 21, 2008, 09:49:25 AM »

Hi Orchids, are you saying that the president's salary is dako ra kaayo?

I think her salary is a joke considering the huge responsibility that goes with the job.

Or maybe you were thinking that it's the monthly rate. =)

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Re: P99,616,000
« Reply #3 on: May 21, 2008, 10:42:10 AM »
Oh oh,nasayop jod ko sorry Sir Benne and Charlatan.Abi jod nako monthly,wa may nag salary god ug in ani.Mao nang nisudlot akong mata.

grazie7y

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Re: P99,616,000
« Reply #4 on: May 21, 2008, 02:43:24 PM »
Yeah, the president is getting a measly over 57k monthly salary - that is if we compute it to 12 months and not 13 months to include the usual 13th month pay.  Bank Managers are earning more than this and considering that the task of the President is unimaginably huge!

Looking at the figures given my Bene san per PGMA'S SAL, how did she increase her net worthiin a year over 11 million?  I guess her earning assets, bulk of which are stock investments, are doing well.  It can't be coming from the real estate properties because it's only less than 7M.
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benelynne

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Re: P99,616,000
« Reply #5 on: May 21, 2008, 03:23:34 PM »

Hi Grazie,

I was really asking the same questions. How could anyone increase one's net worth by P11 million over one year from passive income? Unsa kaha ni iyang gi-investan nga stocks? Murag daghan kayo kong pangutana diri sa Statement of Assets and Liabilities ni PGMA.

By the way, by way of comparison, in-ani ang mga sweldo matagtuig sa lain-laing propesyon sa Japan according to a recent Asahi TV special feature. Note, for example, that the Prime Minister is paid roughly 10 times more than a truck driver or a nurse. It pays to look at the relative, not absolute, values of the paychecks:

New TV “talent”    $9,000
Stuntman    $20,000
Bicycle taxi driver    $25,000
Shinto priest (27-years-old)    $35,200
Ice cream salesperson    $40,000
Noh actor (25 year veteran)    $45,000-50,000
Truck driver    $45,000
Pharmacist    $45,000
Limousine Driver    $50,000
Portrait artist    $50,000
Nurse    $50,000
Carpenter specializing in temple construction    $60,000
Dentist (1 year after beginning a practice)    $60,000
Beautician/Hairdresser    $65,000
Hostess    $70,000
Creator of food samples    $70,000
Fisherman    $70,000
Calligrapher (7 year veteran)    $90,000
Food coordinator    $100,000
Takoyaki shop owner    $100,000
Handyman    $120,000
Farmer    $120,000
Handwriting analysis expert    $200,000
Gynecologist    $240,000
Politician    $300,000
Ramen store owner    $300,000
Sumo wrestler (Yokozuna Wakanohana)    $324,000
Famous beautician/hairdresser    $450,000
Manga creator    $500,000
Lawyer    $500,000
Prime Minister    $514,000
Dentist specializing in advanced techniques    $700,000-$800,000

benelynne

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Re: P99,616,000
« Reply #6 on: May 21, 2008, 03:30:50 PM »
By Philippine standards, Gloria is really living comfortably, especially when compared to the jeepney drivers, farmers and salesgirls.

Pero kaluy-an niya iyang kaugalingon kung ikumpara ang iyang sweldo sa Singaporean Prime Minister, kay bisag opisyal ni George Bush nakurat ug gusto na mo-immigrate sa city-state. Read:

Singapore PM's salary stuns White House official

Tue Apr 10, 6:50 PM ET

WASHINGTON (AFP) - A senior White House official on Tuesday admitted he was floored by the news that Singapore's prime minister earned five times more than US President George W. Bush.

"I'm going to emigrate and run for office in Singapore," the official said on condition he be identified only as "a senior administration official who sits in disbelief after reading that story."

On Monday, the Singapore government had announced a fresh 25.5 percent pay hike for Prime Minister Lee Hsien Loong, boosting his salary to 2.05 million dollars per year.

Bush gets paid 400,000 dollars per year for doing his job, according to the White House.

Combined with personal investment income, he and his wife Laura reported 618,694 dollars in taxable income in the 2005 fiscal year. They had to pay 187,768 dollars in federal taxes.

But maybe Bush shouldn't feel so bad. The Singaporean's paycheck is eight times fatter than Japanese Prime Minister Shinzo Abe's.

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Re: P99,616,000
« Reply #7 on: May 21, 2008, 03:34:00 PM »
Bene san, disregarding the currency sign, pare-pareho ra bya sa sweldo pod sa atong President ba?  There must be a demand of lawyers in Japan kay I noticed the salary is almost the same as the PM.  :D

As to PGMA's SAL, I was just wondering if she can be audited basing on this report? Or, maybe in her supporting statements we can see where she invested her money.  I see that she also has over 11M COH.  Her financial adviser must have missed this because I think her money earns more somewhere else than in the bank, even if it's placed as premium time deposit.  IMO.


benelynne

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Re: P99,616,000
« Reply #8 on: May 21, 2008, 03:47:42 PM »

Gawas jud imong pagka-banker Graze. Pero ug tinud-on pa nimo na imong bakeshop sa ICM ug sa BQ, daku pa jud imong sweldo kaysa ni PGMA and you'll be laughing your way to the bank.

Dili man ko financial expert, pero I sense that her SAL does not really sum up here and there. I am sure more comments will be aired in the media in the days to come.

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Re: P99,616,000
« Reply #9 on: May 21, 2008, 04:04:36 PM »
Bene san, thanks for the encouragement.  I will not only be having a bakeshop but I also want to have a restaurant with cosmopolitan menu to cater tourists from different nationalities.  Oh diba?

About PGMA's SAL, yeah, I also have questions in my mind because I can't seem to figure out how she earned this much, and we are not only talking obout 11M earnings because they also have to spend for their personal expenses.  11M is just a net increase of her net worth. 

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Re: P99,616,000
« Reply #10 on: May 21, 2008, 04:10:56 PM »

There is dearth of fine dining in Tagbilaran. OK ang kombinasyon sa cosmopolitan menu... with a Boholana chef. Your plans will just be in time for the opening of the Panglao international airport. Basig ma-develop na nako ang akong yuta tupad sa Bee Farm, ipaarkila na lang naku nimo... Bitaw, mangandoy lang sa ta kay tan-awon ko pa ang developments in the next two years...

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Re: P99,616,000
« Reply #11 on: May 21, 2008, 04:17:36 PM »
That's true, Bene san, na mangandoy sa lang ta.  Afterall that's free unya mag guide na sa atong vision. In the meantime, I will work on honing my skills sa.


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Re: P99,616,000
« Reply #12 on: May 22, 2008, 01:31:46 AM »
sa news.. mi taas daw ang worth sa iya real estates.. mao nang naka increase up to 11M
heeey? what's the point of this?


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Re: P99,616,000
« Reply #13 on: May 22, 2008, 02:14:52 AM »
economista man gud pgma.
definitely, she knows how to maximize her income.

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Re: P99,616,000
« Reply #14 on: May 22, 2008, 08:51:04 AM »

Hi graz, the 11m COH could be mostly proceeds from fixed investments which matured a few days before GMAs balance sheet date or receipts from sale of equity securities. And there could already be an unsettled trade to roll the 11m cash as of that date. What I'm trying to say is, its difficult to question the investment advisor's decisions by merely seeing the huge cash balance at a certain date (i.e. only one balance sheet date).  Assuming that the 11m is the Dec 31 balance, and when we look the Jan, Feb, & March numbers and see roughly the same amounts, then that's a questionable cash management.

my two cents. =)

But I agree with you, the increase in net assets is huge that's an 11.7% Return on Equity. Wow!


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Re: P99,616,000
« Reply #15 on: May 28, 2008, 12:36:39 PM »
Hi too, Charlattan!  Sorry, it took me awhile to respond to your post.  Of course, you make sense which means I have to take back what I said about the COH!  When I was still working in the back back in Cagayan de Oro, we have had enormous COH in our balance sheet at the end of the year or even just quarter ends and though it's easy to explain to the auditors, and yet it would still show as initial audit finding that requires explanation. 

To my dearie Mocha and Bem, you are both right.  PGMA is a brilliant economist but no matter how brilliant she is, the ROE was just too glaring if we have to consider the increase in her real estate's worth.  But as I said, knowing how thorough PGMA is, I am pretty sure all the supporting documents in her SAL explains everything. 

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Re: P99,616,000
« Reply #16 on: February 07, 2009, 09:00:29 PM »
PHP 99,616,000[/b]

This is the personal net worth of President Gloria Macapagal-Arroyo in 2007 as declared in her statement of assets, liabilities and net worth (SALN).

This makes her P11 million richer than in 2006 when she declared a net worth of P88,588,000.

The president is paid a salary of P693,000 a year.

She has 7 real estate properties amounting to P6,875,637. These properties consist of a house and lot in Baguio; residential lot in Antipolo City in Rizal; commercial lot in Tayabas in Quezon; agricultural lands in San Rafael, Bulacan and Nasugbu, Batangas; and raw land in Coron, Palawan.

The bulk of her assets are accounted for by stocks amounting to P62,919,000.

She has cash on hand and in bank deposits of P11,266,853.51 and jewelry worth P3,400,000.







This woman has a Ph.D in Economics as well as being a product of the extremely Prestigious Georgetown University, the same school where President Bill Clinton attended in Undergraduate.

By nature, GMA will maximize profits.
Easy way to borrow money online. Visit www.tala.ph



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