PHI Group (PINK: PHIL) – Investors in bulletin board listed PHIL are looking for a major reversal northbound here as the stock sits in the high triple zeroes where it is highly active trading 50 million shares on a slow day.  PHIL is notable for several reasons; the stock does have a history of big moves running to $0.019 in 2021 and PHL also has a massive investor following that will be buyers on any sustained move northbound. PHIL Is all about investing in Vietnam which has one of the fastest growing economies in Asia. It is booming! according to its General Statistics Office, the country’s GDP grew 8.02% in 2022.

Recently PHIL and two of its subsidiaries signed an investment commitment agreement with Saigon Silicon City JSC., in Ho Chi Minh City, Vietnam to provide the required capital for Saigon Silicon City to complete the development and construction plan for over 51 hectares. Saigon Silicon City is one of the largest areas in the Saigon High Tech Park (SHTP), with more than 51 hectares of land dedicated to foreign hi-tech companies. The Saigon Hi-tech Park (SHTP) in HCM City has attracted more than US$12 billion in domestic and foreign investment since its establishment. We will be updating on PHIL when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

PHIL is currently waiting on $200 million to fund the project; on April 20 the Company tweeted: “We have satisfied all the requirements on our part for the $200M financing package, but the Ramadan and Eid Al Fitr holidays have impacted the speed of closing. We expect to report concrete results next week. In a more recently Update on April 28 PHIL stated: “We were hoping to close the $200M financing package this week as we already satisfied all the requirements on our part; however, the receiving bank needs to complete its procedure before funds can be credited to our account. We will provide further updates when ready. GB!” 

$200 million is a big transfer and in today’s banking system you can’t just receive a wire for $200 million. You have to provide a lot of paperwork to the receiving bank for them to receive such an amount. The fact that PHIL is that far along in the process is encouraging. 

$PHIL We were hoping to close the $200M financing package this week as we already satisfied all the requirements on our part; however, the receiving bank needs to complete its procedure before funds can be credited to our account. We will provide further update when ready. GB!

— PHI GROUP INC (@PHIGROUP) April 28, 2023

PHI Group (philuxglobal.com) primarily focuses on mergers and acquisitions and invests in select industries and special situations that may substantially enhance shareholder value. Operaing through its subsidiaries PHIL is the sponsor and organizer of Philux Global Funds SCA, SICAV-RAIF, philuxfunds.com a group of Luxembourg-registered bank funds with multiple sub-fund compartments for investment in various select industries and projects.  

PHILUX Global Funds SCA, SICAV-RAIF is a Luxembourg-based bank fund with an intent to initially fund the Asia Diamond Exchange (ADE) which will consist of the rough and lab-grown diamond trading centers in Chu Lai, Quang Nam Province and the polished diamond centers in Long Thanh, Dong Nai Province, Vietnam comparable with diamond exchanges in Antwerp and Dubai. PHIL plans to develop a total area of 1,000 hectares adjacent to the Long Thanh International Airport for the Asia Diamond Exchange (“ADE”) project and the industrial park and logistics center. The total investment needed for the project is about $5 billion for phase 1. PHI Group has previously announced it has commitments of a number of major international investors that have agreed to provide capital for this and other projects it is currently undertaking.   

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PHI Group also has a number of acquisition agreement in place including one to acquire 50.10% of both Kota Energy Group LLC and Kota Construction LLC for $64,125,000, to be paid in cash. KOTA provides solutions for solar energy to residential and commercial customers, with unique competitive advantages. Separated into two separate and unique companies, KOTA Energy Group (KEG) serves as the sales engine with some of the industry’s top talent in sales. KEG, as one of the fastest growing companies in solar, sold over 10 Megawatts in 2021 bringing in over $12M in revenue.  KOTA Construction (KC) is a premier installer with one of the best reputations in the industry for quality and service. KC as the EPC (Engineering, Procurement, and Construction) side of KOTA has over $50M in contracts and 14 Megawatts under management from 2021.   

PHIL also has an agreement to acquire 51% of Tin Thanh Group (TTG) for cash. According to the agreement, PHI Group will purchase 22,032,000 shares of Ordinary Stock from the majority shareholder of Tin Thanh Group for USD $60 million. Tin Thanh Group is a pioneer conglomerate with decades of experience in providing renewable energy and reducing global emissions covering the following fields: Environment, Energy, and Closed Circular Agro-Industrial Energy. It is supplying energy from renewable fuels to more than 40 industrial plants in Vietnam and around the world. PHI Group is partnered with Thanh Nam Long Co., Ltd., a Vietnamese construction and infrastructure development company to secure these funds as well as to fund the Asia Diamond Exchange. 

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$PHIL We have satisfied all the requirements on our part for the $200M financing package, but the Ramadan and Eid Al Fitr holidays have impacted the speed of closing. We expect to report concrete results next week. God Bless!

— PHI GROUP INC (@PHIGROUP) April 20, 2023

In February PHI Group filed an 8k reporting their investment in Saigon Silicon City JSC., to provide the required capital for SSC to complete the development and construction plan for over 51 hectares at the Saigon High Technology Park, in Ho Chi Man City, Vietnam. According to the Investment Commitment Agreement, Philux Global Group and its subsidiaries are committed to providing $500 million for the first phase of construction. 

Saigon Silicon City is one of the largest areas in the Saigon High Tech Park (SHTP), with more than 51 hectares of land dedicated to foreign hi-tech companies. SSC plans to have four management operation centers including office buildings with an estimated floor area of 201,695 square meters, 25 office buildings with a total land area of 195,739 square meters, and other supporting service departments including inbound and outbound warehouses, display department, and a gym center to be built in four lots of land with a total area of 17,467 square meters yielding 57,236 square meters of floor area.  We will be updating on PHIL when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Disclosure: we hold no position in PHIL either long or short and we have not been compensated for this article.