Philippines: Basic Energy partners with Thailand's Vintage Engineering

Philippines: Basic Energy partners with Thailand's Vintage Engineering

Basic Energy Corp. has partnered with Thailand's Vintage Engineering Public
Co. Ltd. to pursue the exploration, development, and production of renewable
energy resources in the Philippines and abroad.

In a disclosure to the Philippine Stock Exchange on Thursday, Basic Energy
said a memorandum of agreement (MOA) with Vintage Engineering was signed on
October 5.

Vintage Engineering is buying 9 percent or 435.658 million shares of Basic
Energy's outstanding capital stock for P139.41 million.

The subscription is divided into two tranches, with the first tranche
payable on December 31, 2016, the second tranche on or before March 31,
2017.

Vintage Engineering may increase up to 25 percent its holdings in Basic
Energy. The Thai firm has the right to invest in Basic Energy projects.

Basic Energy has interests in various fields of renewable energy and
alternative fuels, oil and gas exploration and development.

Vintage Engineering is a construction and engineering firm which operates a
coal mine and raw materials supply business.

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Ref:
http://www.gmanetwork.com/news/story/584079/money/basic-energy-partners-with
-thailand-s-vintage-engineering

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com