FRANKFURT, Germany,
LOS ANGELES and HO CHI MINH CITY, Vietnam, July 29, 2011 /PRNewswire/ -- PHI Group, Inc.
(OTCQB:PHIE; Pinksheets:PHIE; Frankfurt:PR7), an M & A company
with diversified holdings in real estate development, energy,
natural resources and special situations announced today that its
subsidiary PHILand Ranch Ltd., a company engaged in the development
of master-planned communities, residential and commercial
properties, and hospitality services in Vietnam and Southeast Asia, (WKN A0RPEA, Frankfurt:1P8)
successfully conducted the groundbreaking ceremony on Thursday, July 28, 2011 for the Pointe91 luxury
resort and elite residential community at Bien Rang Beach,
Chu Lai, Quang Nam Province, Vietnam.
Attending the ceremony for Pointe91 groundbreaking were more
than 150 guests, including leaders and representatives from the
Vietnam's central, provincial and
local governments, religious leaders, the media, friends, as well
as local business owners.
Located on a majestic bluff overlooking the South China Sea with
rocky shores that extend to the north and sandy beaches southward,
Pointe91 will offer luxury accommodations in an exclusive community
including 227 grand private home residences in seven separate
communities, an exclusive 180-room five-star beach hotel & spa
and 30 detached premium residences that will be offered as part of
a private residence club.
Huynh Khanh Toan, Vice Chairman
of the Quang Nam Province People's Committee and Director of the
Authority of Chu Lai Open Economic Zone, said: " As Quang Nam is
focused on green and clean industries for its economic growth,
PHILand Ranch's Pointe91 development at this most beautiful piece
of land along the province's coastal corridor fits well into our
plan and offers a great potential for success."
Henry Fahman, Chairman of PHILand Ranch, stated:" While we are
also working with other local partners on a number of projects in
Ha Noi, Ho Chi Minh and some major cities in
Vietnam at the present which have
shorter turnaround schedules than that of Pointe91, we are
committed to making a difference with this development."
Pointe91 is strategically located less than seven minutes from
the Chu Lai Airport and also easily accessible by highway, train,
and sea. Pointe91 is expected to become a choice destination for
people from Southeast Asia,
Hong Kong, Japan, Korea, Australia, Europe and the U.S., as well as the
fast-growing, local affluent Vietnamese population.
About PHILand Ranch Ltd.
PHILand Ranch Limited, a United
Kingdom corporation, is engaged in the development of
master-planned communities, residential and commercial properties,
and hospitality services in Vietnam and the growing economies of
Southeast Asia. The company is
currently developing Pointe91 at Bien Rang, Chu Lai, Quang Nam
Province, Central Vietnam
through its wholly owned Vietnam-based subsidiary PHILand Vietnam Ltd.
The Company has also entered into agreements with local Vietnamese
partners to co-develop other commercial, residential, industrial
and hospitality projects. PHILand Ranch's stock is traded on the
Frankfurt Stock Exchange: 1P8.F, WKN A0RPEA. Website:
www.PHILandranch.com.
About PHI Group
PHIGroup engages in M&A consulting services, real estate,
natural resources, energy, and special situations. PHIGroup takes
companies public in the U.S. and Europe and provides access to international
capital sources through its subsidiaries PHI Capital Holdings and
PHI Vietnam Holdings (www.phiholdings.com), develops real estate
projects in Vietnam through
PHILand Ranch (www.philandranch.com); Frankfurt:1P8), and engages
in natural resources and energy through PHI Gold Corporation
(Pinksheets:PHIG), Tricon Gold Corp, PHI Energy Corp
(www.phienergycorp.com) and PHI Oil and Gas Ltd. Main corporate
website: www.phiglobal.com
Safe Harbor: This news release contains forward-looking
statements that are subject to certain risks and uncertainties that
may cause actual results to differ materially from those projected
on the basis of such forward-looking statements. Such
forward-looking statements are made based upon management's
beliefs, as well as assumptions made by, and information currently
available to, management pursuant to the "safe-harbor" provisions
of the Private Securities Litigation Reform Act of 1995.
Contact:
Henry Fahman
714-843-5455
info@phiglobal.com
SOURCE PHI Group, Inc.
