|By Marketwired .||
|December 4, 2012 11:30 AM EST||
LOS ANGELES, CA and HANOI, VIETNAM -- (Marketwire) -- 12/04/12 -- Henry Fahman, Chairman and CEO of PHI Group, Inc. (OTCQB: PHIL), a company focused on energy and natural resources, was interviewed December 3, 2012 by The Wall Street Reporter Senior Analyst Juan Costello.
The interview discussed an overview of the company, impact of recent news developments, opportunities and challenges, growth strategies and execution plans for its coal and renewable energy businesses and milestones the company expects to achieve in the foreseeable future.
The interview is featured on the front page of WallStreetReporter.com (http://www.wallstreetreporter.com) for the next 2 days and linked to the investor's hub page:
In another development, the company announced today that it has signed a Memorandum of Understanding with Global Development Systems, Inc. (GDS) to set up joint ventures in India and Indonesia to deploy the GDS Energy System for power generation in these countries.
The GDS Energy System is a closed-loop energy production system that uses the combination of natural waves and magnetism to generate a very efficient wave regime in a controlled environment and converts the wave action to produce power. For more information about GDS, please visit: http://www.gdsystems.net/
In addition, the company intends to acquire a minority interest in GDS and has signed a Letter of Intent to initially acquire a 30% stake in Song Giang Hydropower JSC, which develops Song Giang 2, a 37MW hydropower plant in Khanh Hoa Province, Vietnam.
This plant is expected to start operation in the second quarter of 2013. The company will provide further updates on these agreements in the near future.
About PHI Group
Focused on energy and natural resources, PHI Group (OTCQB: PHIL), cooperates with local companies in Asia to develop power plants, accumulates long-term coal and other natural resources, and provides advanced renewable energy technologies in conjunction with select industry partners. Website: www.phigroupinc.com/.
Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
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