PHIGroup, Inc. is a specialty investor, real estate developer, developer of mining interests, and a provider of mergers and acquisitions (M&A) advisory and consulting services, specializing in locating capital and helping companies go public. PHIGroup is currently developing the Philand Ranch, a planned community in Vietnam that includes Pointe91, a luxury resort and private residences in Chu Lai, Quang Nam province.
The Company reported today on the results from its annual general meeting, providing shareholders with a comprehensive review of projected plans for 2010.
Ghanshyam Dass, a former managing director for NASDAQ’s Asia Pacific operations and advisor for Intel Capital and KPMG, was elected to the board of directors at the meeting and will serve until the next meeting in 2011. Working previously with the Hong Kong and Shanghai Banking Corporation as well as the British Bank of the Middle East, Dass currently serves on the boards of many leading international companies.
Chairman and CEO of PHIE Henry Fahman went over last year’s operations and laid out the Company’s 2010 trajectory, especially noting plans to complete transactions for several M&A clients and provide servicing to new clients in this area of its operations, while seeking to expand into countries throughout Southeast Asia.
Fahman also spoke of 2010 plans regarding the Pointe91 project, where PHIE looks to finish phases one and two, consisting of the main entry gate, guard house, stylish violin-shaped lake, offices for sales and interior design, and the Private Residence Club models.
A feasibility study is also in the works at Philand Ranch, PHIE’s subsidiary in charge of the Point91 project, to determine the potential for a branded theme park at a medical center and one south of Hoi An, Quang Nam Province.
Another PHIE subsidiary, PHI Mining Group, will continue to expand operations in Southeast Asia, where surveying and financing will be chief priorities in the selection of sites which have been determined to show potential.
The Company also anticipates creation of two additional subsidiaries that will act as public companies with their own business focus.
Fahman acknowledges the difficulties of 2009 for the global economy but cited “notable progress on many fronts”, pointing out Philand Ranch as a categorical example of this and saying that he looked forward to achieving the objectives set for 2010, which will create “significant value” for the Company’s shareholders.