Contact Information: John Nguyen Tel: 714-843-5460
Providential Holdings Forms Singapore-Based Philand Ranch Ltd as Holding Company for Real Estate Development in Southeast Asia
| Quelle: Providential Holdings, Inc.
LOS ANGELES, CA and SINGAPORE--(Marketwire - April 15, 2009) - Providential Holdings, Inc.
(OTCBB : PRVH ) (FRANKFURT : PR7 ) (WKN 935160), a company engaged in mergers
and acquisitions, real estate development, mining, and investing in special
situations, today announced that the Company has incorporated Philand Ranch
Ltd, a Singapore public company limited by shares, as the holding company
for Providential Holdings' real estate development activities in Southeast
Asia.
Philand Ranch Ltd recently entered into a corporate combination agreement
to acquire all the issued and outstanding shares of common stock of Philand
Corporation, a Nevada corporation and majority-owned subsidiary of
Providential Holdings, in exchange for the same number of ordinary shares
in Philand Ranch Ltd As such, Philand Ranch becomes the parent of Philand
Vietnam, Ltd, a Vietnam-based company currently focused on the development
of the Pointe91 luxury resort and premium residential community in Chu Lai,
central Vietnam. Philand Ranch has also reached principle agreements with
other development partners for additional projects in Vietnam and Cambodia.
For additional information about Philand Ranch, please visit:
www.philandranch.com.
About Providential Holdings
Providential Holdings focuses on M&A and consulting services, real estate
development, mining and investing in special situations. The Company
assists companies to go public and raise capital, develops "Pointe 91," a
luxury resort and premium residential community in Chu Lai, central
Vietnam, (www.philandranch.com), and engages in mining in Southeast Asia
(www.phimining.com). The Company's main web site address is
www.phiglobal.com.
Safe Harbor: This news release contains forward-looking statements that are
subject to certain risks and uncertainties that may cause actual results to
differ materially from those projected on the basis of such forward-looking
statements. Such forward-looking statements are made based upon
management's beliefs, as well as assumptions made by, and information
currently available to, management pursuant to the "safe-harbor" provisions
of the Private Securities Litigation Reform Act of 1995.