LOS ANGELES, CA and HANOI, VIETNAM--(Marketwire - Nov 28, 2012) - PHI Group, Inc. (OTCQB: PHIL), a company focused on energy and natural resources, announced today that the company's supply chain management operation has made significant progress in expanding its customer base in the Asia Pacific region since launching the division in October.
The company has so far received sizable orders and indications of interest for coal, gold, iron ores, sugar and RBD palm oil from China, Japan, Korea, Taiwan, Thailand, Turkey and Vietnam. The company is currently working on orders in excess of 600,000 metric tons of coal and 12,000 tons of RBD palm oil per month, in addition to other concurrent transactions in gold and sugar.
While the supply chain management division is expected to begin generating revenues and profitability from its trading activity in the near future, it is also has Joint Operation (JO) agreements with producing coal mines in South and East Kalimantan, Indonesia, which should significantly enhance financial results within three to six months. The company expects to bring the coal concessions it is acquiring into production in nine to twelve months. By the second year of operation, these new mines should be able to add $20 million in revenues and $3.3 million in net profit to the company on a monthly basis.
The company also is investigating the acquisition of other coal concessions to build a sizable portfolio of coal assets in order to supply to countries in the Asia Pacific region on a long-term basis. It is estimated that Vietnam needs to import about 24 million MT of coal by 2017 and Malaysia will need to import about 29.7 mtpa in the next five years. Japan will also need to rely more on coal, natural gas and renewable energy as it shuts down 50 nuclear power plants by 2040.
Henry Fahman, CEO of PHI Group, said, "We are delighted with our new focus on energy and natural resources and confident with the progress roadmap. By positioning ourselves to be a part of the solution to the growing needs of energy worldwide we will be able to create very significant value for our shareholders and investors."
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.