Business
PHI Group Forms Subsidiary for Investment and Development Activities in Vietnam
PHI Group Forms Subsidiary for Investment and Development Activities in Vietnam.
About this update from Phi Group Inc. (wy)
[{"type":"text","content":"\nNew York, NY, June 28, 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 it is in the process of completing the registration of PHI Vietnam Investment and Development Co. Ltd., a Vietnamese wholly owned subsidiary of the Company, for the purpose of consulting, investment and development in Vietnam. The subsidiary’s headquarters will be at 8 Dang Dai Do Street, Tan Phong Ward, District 7, Ho Chi Minh City, Vietnam.\n PHI Vietnam Investment and Development Co. will initially focus on investment and development activities in the areas of renewable energy, agriculture, real estate development, consumer goods, technologies and other selective businesses in Vietnam for PHI Group, Inc. In addition, it will engage in consulting services and mergers and acquisitions, including assisting local Vietnamese companies with respect to going public in the U.S. and other international markets and capital raising.  Previously, PHI Group was instrumental in raising capital for and taking the first Vietnamese company, Cavico Corp., to the U.S. Nasdaq Stock Market. Among its activities in Vietnam, PHI Group has entered into agreements with Bao Lam LLC, a company registered in the Province of Dak Lak Province, and Phuong Hoang Investment and Development LLC, a company registered in Ha Tinh Province, Vietnam, to grow a total of 3,000 hectares (approximately 7,400 acres) of sacha inchi in the provinces of Dak Lak, Dak Nong and Thua Thien Hue for export to the U.S. and European markets.  Originally from the Amazon rainforest and the high Andes Mountains of Peru, sacha inchi has been part of the Inca diet for 3,000 years. The sacha inchi plant, plukenetia volubilis, a rainforest vine, with star-shaped seedpods, is currently cultivated primarily in parts of Southeast Asia and South America.  Sacha inchi has been recognized for a number of health benefits such as weight loss, heart health, complete protein, bone health, and skin and hair. Medical studies have shown that sacha inchi's high concentration and proper balance of omega-3 and omega-6 fatty acids reduce the risk of heart disease. Its fats are largely monounsaturated and polyuns...