New York, NY, Aug. 16, 2018 (GLOBE NEWSWIRE) -- PHI Group, Inc., (www.phiglobal.com) (OTCQB: PHIL), a U.S. diversified holding company focused on mergers and acquisitions and investments in natural resources, energy, agriculture and special situations, today announced that the Company has signed a Memorandum of Understanding for Comprehensive Cooperation to partner with Hanoi MHD Invest Joint Stock Company, known in Vietnamese as “Công ty Cổ phần Đầu tư MHD Hà Nội,” for real estate investment and development activities in Vietnam.
According to the memdorandum, Hanoi MHD and PHI Group will cooperate in the following areas:
- PHI will assist MHD to become a publicly traded company in the U.S. and/or international stock markets.
- PHI will engage MHD for the execution of its building projects in Vietnam, including but not limited to the contemplated Asia Diamond Exchange in the Free-trade Section of the Chu Lai Open Economic Zone, Quang Nam Province, Vietnam.
- MHD and PHI will cooperate in the establishment and investment in a real estate sub-fund under the master Reserved Alternative Investment Fund (RAIF) set up by PHI in accordance with the Luxembourg Institutional Bank Fund Laws. It is expected that the size of the real estate sub-fund will increase substantially over time to meet the growing needs of investment and development in the Vietnamese real estate market.
- MHD and PHI will cooperate to jointly develop and implement various real estate projects in Vietnam.
- MHD and PHI will coordinate with international partners to develop and provide innovative construction materials with new technologies to Vietnam and other Southeast Asian markets.
- MHD and PHI will cooperate to finance or invest in other third-party real estate and hospitality projects in Vietnam as opportunities arise.
MHD has an excellent track record and vast experiences in the fields of construction, project management, real estate investment and development in Vietnam and is currently building two 40-storey towers in Hanoi (http://www.mhdtrungvan.net), among other prominent projects.
PHI Group was instrumental in taking the first Vietnamese company public on the U.S. Stock Market in the past (i.e. Cavico Corporation, which used to be listed on Nasdaq) and is currently engaged in the areas of agriculture, renewable energy, real estate, consumer goods and mergers and acquisitions in Vietnam. PHI Group will assist in taking MHD public in the US Stock Market and creating a platform for MHD’s growth and expansion in the future.
Tung Thanh Nguyen, Chairman and General Director of MHD Hanoi Invest JSC, stated: “ We are very pleased to partner with PHI Group on a comprehensive basis to participate in the development of the real estate subfund under the Luxembourg Institutional Bank Fund as well as other business opportunities that can capitalize on our expertise and experience to create very significant value for all stakeholders otherwise not possible.”
Henry Fahman, Chairman and CEO of PHI Group, said, “As we continue to focus on number of key long-term programs in Vietnam, we are delighted to have MHD as our partner in the real estate investment and development sector. We are highly impressed with MHD’s talented, professional and disciplined management and look forward to building a mutually rewarding association that will contribute to a new phase of growth and expansion for both companies and beyond.”
About PHI Group, Inc.
PHI Group (www.phiglobal.com) primarily focuses on mergers and acquisitions and invests in select industries and special situations that may substantially enhance shareholder value. PHI Group also provides M&A and consulting services through its wholly owned subsidiary, PHI Capital Holdings, Inc. (www.phicapitalholdings.com)
About Hanoi MHD Invest JSC
Hanoi MHD Invest JSC, known in Vietnamese as “Công ty Cổ phần Đầu tư MHD Hà Nội,” has an excellent track record and vast experiences in the fields of construction, project management, real estate investment and development in Vietnam and is currently building two 40-storey towers in Hanoi (http://www.mhdtrungvan.net), among other prominent projects.
Safe Harbor
This news release contains “forward-looking statements” pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected", which are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors.
Contact:
PHI Group, Inc.
Henry Fahman
info@phiglobal.com