PHI GROUP, INC - PHIL STOCK NEWS

Philux Global Group, Inc. (PHIL) recently announced a partnership with Thanh Nam Long Co., Ltd. to develop the PHILUX Infrastructure Fund, aimed at addressing Vietnam's pressing infrastructure needs. This collaboration focuses on selective projects including expressways and the Asia Diamond Exchange. Vietnam requires an investment of $605 billion by 2040 to meet its infrastructure goals, with high-priority areas being urban transport and utilities. The fund intends to enhance Vietnam's infrastructure capabilities and create significant benefits for stakeholders involved.

PHI Group, now Philux Global Group, announced significant progress in the Asia Diamond Exchange (ADE) project in Vietnam despite pandemic challenges. The company has secured strong relationships with global diamantaires and governments, positioning itself to serve various diamond markets. Plans include a 1,000-hectare development near Long Thanh International Airport, with an estimated investment of USD 5 billion. The company is also finalizing a USD 250 million investment package and aims to file its 10-Q reports to become current with the SEC. A press conference to announce international partnerships is forthcoming.

Philux Global Group, formerly known as PHI Group, has received approval from the Ho Chi Minh City Department of Planning and Investment for its participation in the Ho Chi Minh City – Moc Bai Expressway project. This 50 km expressway, estimated to cost US$700 million, aims to alleviate traffic congestion and bolster socio-economic development in the region. The project will be executed via a Public-Private Partnership (PPP) model. Additionally, the company plans to establish a Philux Global Infrastructure Fund to finance infrastructure projects across Vietnam and other ASEAN nations.

PHI Group, Inc. (now known as Philux Global Group Inc., PHIL) announced a strategic partnership with Tin Thanh Group and PetroVietnam Marine Shipyard JSC. The collaboration aims to enhance marine and general building activities by increasing charter capital, allowing PHIL and Tin Thanh to become majority shareholders in PVMS. Together, they will expand PVMS’s business scope, focusing on ship and rig construction and various industrial projects. This alliance could potentially generate significant revenue growth and broaden their operational capabilities in Vietnam.

PHI Group, now Philux Global Group, announced its decision to acquire 51% of Vietnam's Van Phat Dat Export Joint Stock Company for $6,127,895, through a convertible promissory note. The note will mature in 180 days and can be converted into common stock once the subsidiary is publicly traded. VPD, engaged in exporting agricultural products, reported $40 million in revenue and a net profit of $377,000 for 2021. This acquisition aims to employ a roll-up strategy to enhance operational efficiencies and shareholder value.

PHI Group has signed an agreement to acquire a 51% stake in Tin Thanh Group for $60 million, purchasing 22,032,000 shares. The closing is expected by October 4, 2022. This acquisition aims to enhance collaboration on various projects, including renewable energy initiatives and smart truck tire leasing. Additionally, PHI Group secured a $3 billion equity investment from a Gulf Cooperation Council group to finance this acquisition. This strategic move aligns with PHI's objectives in business development and carbon emission mitigation.

PHI Group has signed an agreement with Vietnam's AZ Holdings Investment Joint Stock Company to participate in the PHILUX Global Subfund, focusing on real estate and infrastructure in Vietnam. AZ Holdings will contribute capital for ownership in the subfund, which aims to develop key projects. Additionally, a Business Cooperation Agreement was signed to establish the Asia Diamond Exchange, featuring trading centers for various types of diamonds. Both companies expect significant benefits from their collaboration.

On June 30, 2022, PHI Group, Inc. (PHIL) signed a Definitive Agreement with Tin Thanh Group (TTG) to form a new subsidiary, Philux Fidelity Global Group (PFGG), based in Wyoming. This collaboration focuses on various projects, including leasing smart truck tires, renewable energy initiatives, and low-income housing projects. TTG will retain a 70% stake in PFGG, while PHIL will hold 30%. TTG aims to consolidate its 40 plants under PFGG and plans to take it public on the Nasdaq, enhancing potential value for shareholders.

PHI Group, Inc. (PHIL) has formed a strategic partnership with Danang Rubber Joint Stock Company and Tin Thanh Group to enhance DRC's tire manufacturing and introduce an innovative leasing service. This initiative aims to generate annual revenues of $5.5 billion by 2025. The program will feature smart tires equipped with tracking technology, significant cost savings for consumers, and environmentally friendly practices. The leaders of all three companies express confidence in delivering high-quality products and substantial shareholder value through this collaboration.