SEC revokes appraiser's license over P1.34 trillion valuation discrepancy

The Securities and Exchange Commission (SEC) has revoked the accreditation of E-Value Phils., the appraiser responsible for the P1.34 trillion valuation of Villar Land's new investment properties.

The SEC cited non-compliance with International Valuation Standards as the reason for the revocation, stating that E-Value's appraisal reports were not supported by adequate documentation.

This failure to provide supporting documents for its assumptions and valuation methodologies constitutes misrepresentation under SEC regulations.

In addition to revoking its accreditation, the SEC has imposed a P1 million fine on E-Value Phils.

Previously, Villar Land reported its investment properties in 2024 valued at P8.8 billion, a significant decrease from the P1.34 trillion declared in March.

This valuation pertains to Villar Land's acquisition of 366.34 hectares of land through the purchase of three companies: Althorp Land Holdings Inc., Chalgrove Properties Inc., and Los Valores Corp.