Securities and Exchange Commission Sec Form 11-C Current Report Under Section 11 of The Revised Securities Act (RSA) and RSA Rule 11(a)-l(b)(3) Thereunder

October 1, 1999 PSE CIRCULAR FOR BROKERS NO. 2481-99 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. October 1,1999 Date of Report 2. SEC Identification No. 36359 3. BIR Tax Identification No. 000-438-702 4. BASIC CONSOLIDATED, INC. Exact name of registrant as specified in its charter 5. Philippines Province, Country or other jurisdiction of incorporation or organization 6. (SEC use only) Industry Classification Code 7. 6th & 7th Floors, Basic Petroleum Bldg., C. Palanca St., Legaspi Village, Makati City 1229 Address of principle office 8. 817-8596 to 98 Registrant's telephone number including area code 9. Not Applicable Former name, former address and former fiscal year, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the Revised Securities Act Title of Each Class Number of Shares of Stock Outstanding Common Shares 1,500,000,000 Listed with PSE 1,500,000,000 11. Indicate the item numbers reported herein: Item 9 Resignation of a director and election of a new one The Board of Directors, during its meeting on September 30, 1999 (evening), accepted the resignation of Mr. Ernesto L. Salas as director of the company and all its subsidiaries effective August 30, 1999. The Board elected Mr. Oscar L. de Venecia, Jr. as the new director to serve the unexpired term of Mr. Ernesto L. Salas. prcd Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BASIC CONSOLIDATED, INC. Registrant (SGD.) CARLOS A. ROSALES VP-Corporate Secretary