PRVH .. VERY good News >> Providential Subsidiary Provimex Awarded Business Contract Worth $70 Million
FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)--March 14, 2003--Providential Holdings, Inc. (OTCBB: PRVH), www.phiglobal.com, today announced that its wholly-owned subsidiary Provimex had signed a master contract to provide Vietnam-based Ky Ha Chu Lai Development & Investment Company ("CDI.Co") with $70 million worth of industrial and consumer goods.
Goods and products related to the above-mentioned contract include unleaded petroleum, diesel oil, paper, wine and spirits, steel billets, and other building materials. The Company expects to fulfill the first shipment by the second quarter of 2003.
Henry Fahman, Chairman and CEO of Providential Holdings, commented: "We are pleased to have signed this important contract with CDI.Co and expect to immediately increase revenues for our Provimex subsidiary." Fahman added: "We will also work closely with CDI.Co on the Chu Lai Open Economic Zone project and plan to step up our development and investment activities in this area in the near future."
Dien Xuan Do, President of CDI.Co, commented: "We are enthused to work with Providential Holdings on both aspects, the goods that CDI.Co currently needs as well as the development of Chu Lai Open Economic Zone. In fact, Providential is the first American company that has eyed Chu Lai with an in-depth knowledge of the potential of this former U.S. airbase as an investment opportunity." Do added: "We are confident that Providential's efforts will be highly rewarded."
About Providential Holdings
Providential Holdings, Inc., a diversified holding company, focuses on selective technologies, financial services, international markets and special situations. Products and services include liquid crystal displays (LCD's), mobile entertainment systems, information technology, identification technology, industrial and construction equipment, telecommunications, and computer hardware and software. The Company also engages in trade commerce and mergers and acquisitions, especially in the U.S. and emerging overseas markets with high potential for growth. URL:www.phiglobal.com.
About CDI.Co
Ky Ha Chu Lai Development & Investment Co. is a Vietnam-based diversified manufacturing and service company with headquarters in Tam Ky, Quang Nam Province and branch offices in Ho Chi Minh City, Hai Phong and Da Nang. The company is engaged in paper products, construction, forestry, trucking and shipping, mining, building materials, automobiles, imports and exports, and management services.
Songs I Luv
( NEWER )
( NEW )
