Vietnam-based HHT Global Co. Ltd. Joins PHILUX Global Subfund for Agriculture
PHI Group has signed an agreement with HHT Global Co. Ltd. to establish a PHILUX Global Subfund focused on agriculture in Vietnam. The fund will prioritize growing sorghum for its subsidiary, Empire Spirits, and the Five-Grain Treasure Spirits distillery. HHT Global will contribute capital and hold 49% ownership of the general partner's share. The collaboration aims to tap into the lucrative baijiu market, with projected revenues of $3.5 billion and net profits of $1.6 billion within two years. This partnership positions PHI Group favorably within the growing agricultural sector in Vietnam.
- Partnership with HHT Global expected to enhance agricultural capabilities.
- Projected annual revenues of $3.5 billion and net profits of $1.6 billion within two years.
- Collaboration leverages proprietary technology in sorghum production.
- None.
* Immediate focus on growing sorghum for Empire Spirits and Five-Grain Treasure Spirits
New York, Feb. 10, 2022 (GLOBE NEWSWIRE) -- PHI Group, Inc. (www.phiglobal.com, PHIL), a diversified holding company currently engaged in PHILUX Global Funds (a group of Luxembourg bank funds), the Asia Diamond Exchange project (“ADE”) in Vietnam, mergers and acquisitions and investing in special situations (www.co2-1-0.io), is pleased to announce that today HHT Global Co. Ltd., a Vietnamese limited liability company, has signed an agreement with PHI Group to join the PHILUX Global Subfund for agriculture.
According to the agreement, HHT Global will contribute a mutually agreed amount of capital for the setup and initial operating budget of the subfund and hold
The main focus of this fund will be on agriculture in Vietnam. HHT Global and Empire Spirits, Inc., a subsidiary of PHI Group, Inc., will immediately cooperate to grow sorghum for Empire Spirits, Inc. and Five-Grain Treasure Spirits, a baiju distiller company with over one hundred years of tradition in Jilin Province, China.
Baijiu is a white spirit distilled from sorghum. It is similar to vodka but with a fragrant aroma and taste. It is currently the most consumed spirit in the world. Mainly consumed in China, it is gaining popularity in the rest of the world.
Five-Grain specializes in the production and sales of spirits and the development of proprietary spirit production processes. It also possesses a patented technology to grow red sorghum for baiju manufacturing. The patented grain produces superior yield and quality. Five-Grain is a reputable bulk alcohol supplier to some of the largest spirits companies in the world.
According to Five-Grain/Empire Spirits development plan, these companies will follow a three-prong growth strategy: (1) grow sorghum using its proprietary seed and technology, (2) ferment and process sorghum to produce bulk spirits and supply to other beverage companies and (3) develop its own brand using proprietary manufacturing methods and preferred distribution channels. By reaching these goals, Empire Spirits would be able to generate an average of
Kweichow Moutai, the largest alcohol company in the world, has crossed the
Mrs. Nguyen Thi Hong, Chairperson of HHT Global Co., commented: “ We are very pleased to cooperate with PHI Group to respond to the growing needs of the agriculture industry in Vietnam and especially capture this opportunity to grow and provide sorghum supply to Empire Spirits and Five-Grain.”
Henry Fahman, Chairman and CEO of PHI Group, stated: “We are delighted to collaborate with Mrs. Hong and HHT Global in this program and believe by capitalizing on our combined experience and networks we are well positioned to serve the needs of the agriculture industry in Vietnam as well as create significant benefits for both companies, our shareholders and all other stakeholders involved.”
About PHI Group, Inc.
PHI Group (www.phiglobal.com, PHIL) primarily focuses on advancing PHILUX Global Funds, a group of Luxembourg bank funds organized as “Reserved Alternative Investment Fund” (“RAIF”) and building the Asia Diamond Exchange (“ADE”) in Vietnam. The Company also engages in mergers and acquisitions and invests in select industries and special situations (www.co2-1-0.io) that may substantially enhance shareholder value.
Safe Harbor Act and Forward-looking Statements
This news release contains “forward-looking statements” pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected,” which are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors.
Contact:
PHI Group, Inc.
Tel: +1-714-793-9227
Email: info@phiglobal.com
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