01:45 (GMT +7) - Wednesday 20/03/2019

Business

PHI Group to establish diamond exchange center in Vietnam

Released at: 10:00, 25/01/2019

PHI Group to establish diamond exchange center in Vietnam

Photo: PHI

US holding company's exchange center the first in Asia.

by Doanh Doanh

PHI Group, Inc., a diversified US holding company focused on mergers and acquisitions and investments in select industries and special situations, today announced that it has successfully established the Phi Luxembourg Development S.A. as the parent holding company for Philux Global Funds, which will initially hold sub-fund compartments for investment in agriculture, green energy, real estate, and a diamond exchange center in Vietnam.

The company thanked its structuring agent, Mr. Ben Smet, and legal experts at the DLP Law Firm Sarl for their help and support in achieving the important milestone and looks forward to the full activation of the sub-fund compartments in the coming weeks.

The sub-fund compartments will be organized as a Reserved Alternative Investment Fund (RAIF) and can be established under the form of investment companies with variable capital (SICAV) or a corporate partnership limited by shares (SCA). There will be no restriction in terms of eligible assets and RAIF’s are free to introduce any kind of assets and financial instruments in their investment policy.

The company has identified a number of projects ready for investment in the areas of agriculture, green energy and real estate in Vietnam and has also engaged qualified local partners to participate in these programs. In addition, the company has been working closely with its international advisers and partners to prepare for the establishment of the first-ever Asian Diamond Exchange center in Vietnam.

“We will continue to update our shareholders and the investment community on the progress of these undertakings in the near future,” Mr. Henry Fahman, Chairman and CEO of PHI Group, Inc., said.

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