Chartered Group clarified its investment in Bangchak Corporation PCL (SET: BCP) funded by Alpha Chartered Energy Co., Ltd. (ACE) as a major shareholder, confirming legality and no political ties, and is preparing legal action against those spreading false information. The investment plan targets exponential and sustainable value growth over the next three years.
In response to allegations in certain media and social media outlets—which are baseless, unsupported by facts, and intended to mislead the public as well as damage Chartered Group’s reputation—Chartered Group emphasizes that these have been dishonest attempts to create misunderstandings, especially regarding the investment structure in BCP shares and the source of investment funds from ACE, as a major shareholder of BCP.
As for the reason for ACE’s entry into the investment, the company acquired a total of 275,500,000 shares of BCP, accounting for 20.0083% and reported this acquisition to the Securities and Exchange Commission (SEC) via Form 246-2 as required. ACE’s interest in investing in BCP emerged from a proposal by Mr. Natthakorn Athithanavanich, a local partner of Chartered Group in Thailand, who sees BCP as a listed company with high growth potential, capable of regional leadership in the energy sector, and with an investment value still below its true potential.
ACE’s shareholding structure consists of Alpha Global—with Mr. Natthakorn as the sole shareholder—and Encore Issuance S.A., whose shareholding structure is similar to Opus-Chartered Issuances S.A. (Opus SA). Their ultimate beneficial owners were disclosed and approved by relevant authorities during Opus SA’s acquisition of MFC Asset Management PCL (MFC). Therefore, Alpha Global and Encore Issuance S.A. will benefit according to their respective shareholding proportions and have agreed not to transfer or delegate these benefits to any external parties under any circumstances. ACE affirms that it has no connections, relationships, or involvement with any politicians, political parties, or persons/groups as mentioned in media reports.
Regarding the source of investment funds, reports concerning the funding for BCP’s acquisition are incorrect. In reality, ACE received unsecured financial support from financial institutions regulated in Singapore, certified and licensed by the Monetary Authority of Singapore (MAS). This support was a result of the trust and strong relationship with Chartered Group, and the funding process was transparent, fully compliant with all relevant regulations.
ACE’s operational plan as a major BCP shareholder is rooted in confidence in BCP’s fundamentals as a listed company with strong growth capabilities, regional expansion potential, and appropriate investment value. Furthermore, there is confidence that network and expertise will enhance the company’s value, aiming for exponential and sustainable growth within the next three years. This investment will also be a flagship investment for the group over the long term.
Following the share acquisition, ACE proposed two representatives as BCP directors: Mr. Natthakorn and Dr. Tomas Koch. Both Chartered Group and ACE are confident in Thailand’s economic potential and key business opportunities, committed to further strengthening business and investment collaboration under strict legal and regulatory compliance, overseen by the relevant authorities.
Additionally, the Chartered Group, a global investment group managing and investing billions of US dollars in various countries, has officially announced that the group will take decisive legal action against individuals and entities publishing false information and defamatory content in media and online networks, alleging links with politicians or political parties in Thailand or with certain persons or groups appearing in relation to BCP, MFC, and VGI PCL (SET: VGI). The group affirms it has never had any direct or indirect political ties and all business operations strictly comply with relevant laws and regulatory requirements in both Thailand and abroad.
