LOS ANGELES and HO CHI MINH CITY, Vietnam, Jan. 27, 2011 /PRNewswire/ -- PHI Group, Inc.
(OTC Bulletin Board: PHIE; Frankfurt Stock Exchange: PR7; Xetra:
PR7) announced today that the company has signed an agreement with
Beta Securities Corporation of Vietnam to co-operate in a range of business
activities, including consulting and advisory services, mergers and
acquisitions, investment banking, asset management, international
banking, listing Vietnamese companies in the U.S., European and
certain Asian stock markets and other mutually beneficial
opportunities.
Beta Securities Corporation, established in 2007, an affiliate
of Gia Dinh Joint Stock Commercial Bank in Vietnam, is engaged in securities brokerage,
asset management, investment banking, custodian and registrar
services, investment advisory services, mergers and acquisitions,
business valuation and other related business activities.
Beta Securities and PHI Group intend to initially focus on
common high priority areas such as listing Vietnamese companies
abroad, asset management, investment banking and facilitating
access for international investors to participate in the Vietnamese
stock market and for Vietnamese investors that would wish to buy
foreign stocks.
Henry Fahman, Chairman and CEO of PHI Group, said, "We are
delighted to partner with Beta Securities and confident that we
will be able to quickly execute a number of initiatives that will
substantially benefit shareholders of both companies. By working
together, we expect to assist several key Vietnamese clients to go
public in the U.S. and Europe in
2011."
Cuu V. Nguyen, Vice Chairman of
Gia Dinh Bank and Chairman of Beta
Securities, said, "Our cooperation with PHI Group and its
subsidiaries undoubtedly will open new channels for our clients to
access international capital markets and create synergies otherwise
not available to both companies. We look forward to building a
solid foundation for future growth in international investment
banking and brokerage that will help meet the growing needs of both
Vietnamese and international investors."
About Beta Securities Corporation
Beta Securities Corporation is a Vietnam-based investment banking and brokerage
company with operations in securities brokerage, custodian and
registrar services, investment advisory services, corporate
finance, securities underwriting, corporate valuation, mergers and
acquisitions, and proprietary trading. Website:
http://www.bsi.com.vn
About PHIGroup, Inc.
PHI Group (OTCBB: PHIE) provides M&A advisory and consulting
services, develops real estate and natural resources and invests in
special situations. PHI Group, which specializes in raising capital
and taking companies public, is developing PHILand Ranch, one of
the largest master planned communities in Vietnam. This project includes Pointe91, a
luxury resort and premium residential community in Quang Nam province in central Vietnam (www.PHILandranch.com). PHI Group is
also engaged in mining activities through its majority-owned
subsidiary PHI Gold Corporation. (Pink Sheets: PHIG,
www.phimining.com). Website: www.phiglobal.com.
SOURCE PHI Group, Inc.