Background
Originally established in June 1982 as JR Consulting, Inc., a Nevada corporation, to primarily engage in mergers and acquisitions, the Company changed its name to Providential Holdings, Inc. in 2000 after it acquired a California-based investment banking and asset management company. In 2009, the Company changed its name to PHI Group, Inc. In September 2017, the Company re-domiciled in the State of Wyoming, U.S.A.
The Company has formed and activated PHILUX Global Funds SCA, SICAV-RAIF, a Reserved Alternative Investment Fund (“RAIF”) under the laws of Luxembourg with several compartments for investment in selective industries and opportunities, especially in Vietnam. In addition, we provide M&A advisory and consulting services through our wholly-owned subsidiary PHILUX Capital Advisors, Inc. (www.philuxcap.com), which serves as the Investment Adviser to PHILUX Global Funds.
Advisory & Consulting Services
Our wholly-owned subsidiary PHILUX Capital Advisors, Inc., originally incorporated as a Nevada corporation in September 2004 and re-domiciled in the State of Wyoming in September 2017, is engaged in mergers and acquisitions, advisory and consulting services, corporate finance, project financing, corporate turnaround, corporate governance and other corporate services. The Company is in the process of registering with the U.S. Securities and Exchange Commission as a Registered Investment Adviser (RIA) and will serve as the investment advisor to Luxembourg-based PHILUX Global Funds (in formation).
We have successfully assisted a number of U.S. and international companies to go public and raise capital in the U.S. and European stock markets.
Luxembourg Bank Funds
We have established PHI Luxembourg Development S.A. as the mother holding company for PHILUX Global Funds under the laws of Luxembourg.
PHILUX Global Funds is a Luxembourg bank fund activated in June 2020 as a “Reserved Alternative Investment Fund” in accordance with the Luxembourg Law of July 23, 2016 relative to reserved alternative investment funds, Law of August 23, 2016 relative to commercial companies, and Modified Law of July 12, 2013 relative to alternative investment fund managers.
Initially we have launched the Real Estate Sub-fund for investment in real estate and developing the 600-hectare Long Thanh Multi-Commodity Logistic Center in Dong Nai Province, Vietnam. In addition, we intend to have other compartments under PHILUX Global Funds for investment in sustainable agriculture, renewable energy, consumer goods, healthcare, natural resources, etc. in the near future.
ASIA DIAMOND EXCHANGE IN VIETNAM
Along with the establishment of PHILUX Global Funds, since March 2018 the Company has worked closely with the Authority of Chu Lai Open Economic Zone and the Provincial Government of Quang Nam, Vietnam to develop the Asia Diamond Exchange. Quang Nam Provincial Government has agreed to allocate more than 200 hectares in the sanctioned Free-Trade Zone near Chu Lai Airport, Nui Thanh District, Quang Nam Province in Central Vietnam for us to set up a multi-commodities center which would include the Asia Diamond Exchange. Recently, another opportunity has arisen with the start of construction of the new international airport in Long Thanh District, Dong Nai Province near Ho Chi Minh City in Southern Vietnam. In December 2020, the Vietnamese central government designated 1,200 hectares of land in Bau Can village, Long Thanh District, Dong Nai Province as a new industrial zone. We are in the process of applying for 600 hectares close to the Long Thanh International Airport to develop Long Thanh Multi-Commodities Logistics Center (LMLC) which would house the proposed International Financial Center, an Urban Area and other hi-tech industrial operations.
Investments
We intend to invest in sustainable agriculture, healthcare, renewable energy, real estate, and multiple commodities in emerging markets. We also adopt a roll-up strategy by acquiring and merging operating businesses to pull their resources together, cut down on operational costs, and increase revenues.
SUBSIDIARIES
As of March 31, 2020, the Company owned the following subsidiaries: (1) PHILUX Capital Advisors, Inc., a Wyoming corporation (100% owned), (2) PHI Luxembourg Development S.A., a Luxembourg corporation (100% owned), (3) PHILUX Global Funds SCA, SICAV-RAIF, a Luxembourg bank fund, (4) PHI Vietnam Investment and Development Company Ltd., a Vietnamese limited liability company (100% owned), (5) American Pacific Plastics, Inc., a Wyoming corporation (100% owned), (6) American Pacific Resources, Inc., a Wyoming corporation (100% owned), (7) Phivitae Corporation, a Wyoming corporation – name changed to “Phivitae Healthcare, Inc.” on March 17, 2020 (100% owned).
PHILUX CAPITAL ADVISORS, INC., a wholly owned subsidiary of the Company, was originally incorporated under the name of “Providential Capital, Inc.” in 2004 as a Nevada corporation and to provide merger and acquisition (M&A) advisory services, consulting services, project financing, and capital market services to clients in North America and Asia. In May 2010, Providential Capital, Inc. changed its name to PHI Capital Holdings, Inc. It was re-domiciled as a Wyoming corporation on September 20, 2017 and changed its name to “PHILUX Capital Advisors, Inc.” on June 03, 2020. This subsidiary has successfully managed merger plans for several privately held and publicly traded companies and continues to focus on serving the Pacific Rim markets in the foreseeable future. This subsidiary currently serves as the investment advisor to “PHILUX Global Funds SCA, SICAV-RAIF,” a Luxembourg Reserved Alternative Investment Fund established by PHI Luxembourg Development S.A.
PHI Luxembourg DEVELOPMENT S.A., a wholly-owned subsidiary of the Company, was incorporated in the Grand Duchy of Luxembourg on December 03, 2018 to serve as the mother holding company for PHILUX Global Funds, a Luxembourg bank fund known as “Reserved Alternative Investment Fund”.
PHILUX Global Funds SCA, SICAV-RAIF, a Luxembourg Bank Fund organized as a Reserved Alternative Investment Fund in accordance with the Luxembourg Law of July 23, 2016 relative to reserved alternative investment funds, Law of August 23, 2016 relative to commercial companies, and Modified Law of July 12, 2013 relative to alternative investment fund managers, was activated on June 11, 2020, Registration No. B244952. The Company intends to organize a number of sub-funds under the umbrella of PHILUX Global Funds for investment in real estate, infrastructure, agriculture, renewable energy, healthcare, the proposed Asia Diamond Exchange and International Financial Center to be established in Vietnam.
Established as a Vietnam-based company in May 2018, PHI Vietnam Investment and Development Company Limited (“PHI VN”) is a wholly-owned subsidiary of the Company to engage in consulting services in Vietnam. PHI VN will serve as a special consultant to PHILUX Capital Advisors, Inc. to assist PHILUX Global Funds with respect to investments in Vietnam.
American Pacific Resources, Inc. (“APR”) is a Wyoming corporation established in April 2016 to serve as a holding company for various natural resource projects. On September 2, 2017, APR entered into an Agreement of Purchase and Sale with Rush Gold Royalty, Inc. (“RGR”), a Wyoming corporation, to acquire a 51% ownership in twenty-one mining claims over an area of approximately 400 acres in Granite Mining District, Grant County, Oregon, U.S.A., in exchange for a total purchase price of twenty-five million U.S. Dollars ($US 25,000,000) to be paid in a combination of cash, convertible demand promissory note and PHI Group, Inc.’s Class A Series II Convertible Cumulative Redeemable Preferred Stock (“Preferred Stock”). This transaction was closed effective October 3, 2017. Following the first amendment dated April 19, 2018 and the second amendment dated September 29, 2018 retroactively effective April 20, 2018, to the afore-mentioned Agreement of Purchase and Sale, PHI Group, Inc. paid ten million shares of its Class A Series II Convertible Cumulative Redeemable Preferred Stock, a convertible demand promissory note and cash totaling $25,000,000 to Rush Gold Royalty, Inc. For the fiscal year ended June 30, 2019, the Company only recorded $462,000 paid for this transaction as expenses for research and development in connection with the Granite Mining Claims project. The value of these mining claims is expected to be adjusted later after a new valuation of these mining assets is conducted by an independent third-party valuator.
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I'M SORRY. WAS THAT NOT A QUICK EXPLANATION OF WHAT PHIL IS????????????????
