LOS ANGELES and HO CHI MINH CITY, Vietnam, Jan. 27, 2011 /PRNewswire/ -- PHI Group, Inc. (OTC Bulletin Board: PHIE; Frankfurt Stock Exchange: PR7; Xetra: PR7) announced today that the company has signed an agreement with Beta Securities Corporation of Vietnam to co-operate in a range of business activities, including consulting and advisory services, mergers and acquisitions, investment banking, asset management, international banking, listing Vietnamese companies in the U.S., European and certain Asian stock markets and other mutually beneficial opportunities.
Beta Securities Corporation, established in 2007, an affiliate of Gia Dinh Joint Stock Commercial Bank in Vietnam, is engaged in securities brokerage, asset management, investment banking, custodian and registrar services, investment advisory services, mergers and acquisitions, business valuation and other related business activities.
Beta Securities and PHI Group intend to initially focus on common high priority areas such as listing Vietnamese companies abroad, asset management, investment banking and facilitating access for international investors to participate in the Vietnamese stock market and for Vietnamese investors that would wish to buy foreign stocks.
Henry Fahman, Chairman and CEO of PHI Group, said, "We are delighted to partner with Beta Securities and confident that we will be able to quickly execute a number of initiatives that will substantially benefit shareholders of both companies. By working together, we expect to assist several key Vietnamese clients to go public in the U.S. and Europe in 2011."
Cuu V. Nguyen, Vice Chairman of Gia Dinh Bank and Chairman of Beta Securities, said, "Our cooperation with PHI Group and its subsidiaries undoubtedly will open new channels for our clients to access international capital markets and create synergies otherwise not available to both companies. We look forward to building a solid foundation for future growth in international investment banking and brokerage that will help meet the growing needs of both Vietnamese and international investors."
About Beta Securities Corporation
Beta Securities Corporation is a Vietnam-based investment banking and brokerage company with operations in securities brokerage, custodian and registrar services, investment advisory services, corporate finance, securities underwriting, corporate valuation, mergers and acquisitions, and proprietary trading. Website: http://www.bsi.com.vn
About PHIGroup, Inc.
PHI Group (OTCBB: PHIE) provides M&A advisory and consulting services, develops real estate and natural resources and invests in special situations. PHI Group, which specializes in raising capital and taking companies public, is developing PHILand Ranch, one of the largest master planned communities in Vietnam. This project includes Pointe91, a luxury resort and premium residential community in Quang Nam province in central Vietnam (www.PHILandranch.com). PHI Group is also engaged in mining activities through its majority-owned subsidiary PHI Gold Corporation. (Pink Sheets: PHIG, www.phimining.com). Website: www.phiglobal.com.
SOURCE PHI Group, Inc.