phi group inc (PHIL) Key Developments
PHI Group Completes Acquisition of 10 Acres of Land from Klausner Holding, U.S.A
Aug 7 15
PHI Group announced that the company has completed the acquisition of 10 acres of land from Klausner Holding, U.S.A. for the Cornerstone Biomass Corporation 200,000 MT wood pellet project in Live Oak, Suwannee County, Florida. This parcel of land is adjacent to Klausner Lumber One. Cornerstone Biomass Corporation has diligently vetted the required equipment and machinery, product end users, potential logistical partners, and additional financing sources for this project. At the same time, PHI Group is in the process of raising $60 million through a private placement under the auspices of Regulation 506(c) and plans to use a portion of the proceeds for the Cornerstone Biomass Corp. renewable energy development program.
PHI Group Inc. Provides Update on the Previous Definitive Contract with KHM JSC
Jun 25 15
PHI Group Inc. provided an update on the previously announced definitive contract with KHM JSC to supply up to 125 million metric tons of reclamation sand from Vietnam to Singapore and Asian markets. PHI Group is in the process of selecting and coordinating with international and domestic dredging, loading and shipping companies that are capable of handling large volume requirements by using specially designed methodologies. In addition, PHI Group will assist KHM JSC to set up an onsite laboratory to pretest all the products to make sure they meet the required specifications according to international industrial standards for usage in specific government projects. According to the agreement, PHI Group will also utilize its international networks, including its subsidiaries and affiliates, to help facilitate and strengthen KHM's access to international trade channels in order to market and sell KHM's products, including reclamation sand, construction sand and granite especially in the Singapore and Southeast Asian markets. PHI Group is working with its Singaporean partner Primearth Resources Asia Pte. Ltd. to coordinate further administrative details. Shipments are expected to begin in 45 to 60 days or as soon as practical.
PHI Group, Inc. Signs Definitive Contract with KHM Joint Stock Company for 125 Million Tons of Sand
Jun 17 15
PHI Group Inc. announced that the company has signed a definitive contract with KHM Joint Stock Company to supply up to 125 million metric tons of reclamation sand from Vietnam to Singapore and Asian markets over a period of 5 years. According to the contract, the saline sand shall have been checked and tested to meet the specification requirements according to international industrial standards for usage in Singapore and other Asian government projects. Minimum monthly transaction volume will be 1.6 million MT and may increase by 30% as needed. Contract price is set at FOB mother vessels.
PHI Group Inc. Presents at Asia Mining Congress 2015, May-26-2015 04:30 PM
May 22 15
PHI Group Inc. Presents at Asia Mining Congress 2015, May-26-2015 04:30 PM. Venue: Suntec International Convention & Exhibition Centre, Singapore. Speakers: Henry D. Fahman, Chairman of the Board, Chief Executive Officer, President and Acting Chief Financial Officer.
PHI Group Inc. Enters Strategic Alliances to Supply Sand and Granite to Singapore and Asian Markets
May 12 15
PHI Group Inc. announced that the Company has formed strategic alliances with KHM Joint Stock Company and Primearth Resources Asia Pte Ltd. to supply sand and granite from the Central Vietnam to Singapore and Asian markets. According to the agreement with KHM JSC, PHI Group Inc. has the first right of refusal to supply up over 100 million cubic meters of sand and 40 million cubic meters of granite by KHM JSC to Singapore and Asian markets over a period of five years. PHI Group has also partnered with Primearth Resources Asia to particularly cater to the Singapore market.