I agree... CEO Fahman did a smart thing in this PR. He disclosed additional acquisitions are forthcoming in the next few weeks. He also set up a strong financing base (see PR below) which will greatly benefit PHIG, imo.
PHIE Group Partners With Global Petroleum Bank of Vietnam
Phi Grp. (BB) (OTCBB:PHIE)
Today : Thursday 11 November 2010
Philand Ranch Ltd. (WKN: A0RPEA) (FRANKFURT: 1P8) (XETRA: 1P8), a company engaged in the development of master-planned communities, residential and commercial properties, and hospitality and healthcare services in Vietnam and Southeast Asia, announced today that its parent, PHI Group, Inc. (OTCBB: PHIE) (FRANKFURT: PR7) (XETRA: PR7), has signed an agreement to cooperate with Global Petroleum Joint Stock Bank of Vietnam in a range of business activities, including international banking, asset management, mergers and acquisitions, mining, real estate development, hospitality and other mutually-beneficial opportunities.
Both companies have agreed to cooperate in activities in which they both are currently engaged.
GP Bank is a conglomerate with operations in commercial banking, investment banking, asset management, real estate development, mining, hospitality and reforestation. insert-text-here.
Henry Fahman, Chairman and CEO of PHI Group, Inc., said, "We are delighted to partner with GP Bank and believe by working together we will be able to capture some excellent opportunities and accelerate the execution plan for a number of our key initiatives, especially in real estate development, mining and asset management, as mentioned earlier."
AI
