Replies to post #3291 on Cavico Corp (fka CAVO)

[Wallstreetman]

No where did I say Henry was an OFFICER of CVCP.
He wouldnt have been able to pay himself for bringing CVCP to the American Exchanges.But he is responsible for bringing them to this country.I bought for the same reason as you,it is a good company and the fact that they would be the first from Viet Nam raised some very good possibilities that they would do very well here.I still believe that they will.

[silentgold]

This look Fishy to me because

All the connections between Cavico and Provincial Holdings.
--------------------

On August 29, 2006, Providential Holdings, Inc. ("Providential" or the "Company") entered into a Principle Business Cooperation Agreement (the "Agreement") with Cavico Vietnam Joint Stock Company, a Socialist Republic of Vietnam corporation ("Cavico"), which is a business conglomerate engaged in various business activities including, but not limited to, infrastructure, construction, energy, mining, information technology, and real estate development. Pursuant to the terms of the Agreement, Providential and Cavico have agreed to cooperate in funding, building, owning and operating certain businesses in Vietnam and other regions of the world and share in the benefits of these business operations. Providential and Cavico initially agreed to cooperate in the following projects:

Hydropower business. Cavico and Providential shall cooperate to form a joint-venture company, namely Cavico PHI Hydropower Joint Stock Company (“CPHC”) or any other name acceptable to both parties, to jointly fund, build, own, and operate any possible hydropower projects allowed by the government of Vietnam, such as Dak My 2, Song Bung 4, and/or other hydropower plants in Vietnam and/or elsewhere. It is anticipated that Cavico and its affiliates will contribute a maximum of 70% of the equity investment towards CPHC and retain a maximum of 70% of ownership in CPHC and Providential will contribute a minimum of 30% of the equity investment towards CPHC and retain a minimum of 30% of ownership in CPHC, respectively;

Cement business. Cavico and Providential shall cooperate to form a joint-venture company, namely Cavico PHI Cement Joint Stock Company (“CPCC”) or any other name acceptable to both parties, to jointly fund, build, own, and operate a cement plant in Phu Ly, Ha Nam province. It is anticipated that Cavico and its affiliates will contribute a maximum of 70% of the equity investment towards CPCC and retain a maximum of 70% of ownership in CPCC and Providential will contribute a minimum of 30% of the equity investment towards CPCC and retain a minimum of 30% of ownership in CPCC, respectively;


Mining business. Cavico and Providential shall cooperate to form a joint-venture company, namely Cavico PHI Mining Corporation (“CPMC”) or any other name acceptable to both parties, to jointly fund, build, own, and operate one or more mines in Vietnam and Australia. It is anticipated that Cavico and its affiliates will contribute a maximum of 70% of the equity investment towards CPMC and retain a maximum of 70% of ownership in CPMC and Providential will contribute a minimum of 30% of the equity investment towards CPMC and retain a minimum of 30% of ownership in CPMC, respectively;


Other business opportunities. Cavico and Providential shall cooperate in other business opportunities as deems appropriate. The required funding contributions and future benefits pertaining to each of these businesses will be mutually determined by both parties at the appropriate time.

Cavico and Providential have also agreed to enter into a separate agreements detailing the terms and conditions agreeable to both parties pertaining to each of the projects mentioned above.

----------------
Vietnam Financial Media Corp.
Vietnam Financial Media Corp (VFMC) , is a joint venture among Cavico VN, Ltd., Bao Viet Securities Co., Hawk Associates, Inc., and Providential Holdings, aiming to serve the needs of Vietnam-based public-traded companies and their investors.

-----------------

Henry and Tim are brothers.
Same office address for Cavico and Provincal Holdings
(what company pays for the office?

Given the track record of Henry that I have found so far I am beginning to feel uncomfortable with the whole situation involving Cavico.

Comments anyone?