SOURCE: Providential Holdings, Inc.

November 30, 2005 09:00 ET

Providential Holdings Makes Strides in Helping Vietnamese Businesses to Access the US Public Markets

LOS ANGELES, CA -- (MARKET WIRE) -- November 30, 2005 -- Providential Holdings, Inc. (OTC BB: PRVHE) (Berlin and Frankfurt Stock Exchanges: PR7, WKN 935160), a provider of international advisory services specializing in mergers and acquisitions, today announced that it continues to make important progress in helping Vietnamese businesses to access the US public equity markets.

Following a series of seminars in four major Vietnamese cities in October 2005, Providential Holdings has signed memoranda of understanding with three Vietnamese companies, namely Haihuy Group, Saigon Technology University, and Tan Phat Co., Ltd., which seek to go public and access funding through the US equity markets. These are in addition to Intimex Import Export Corporation (www.intimexco.com) and another major Hanoi-based conglomerate that have engaged the Company to assist them with funding and recapitalization plans.

Haihuy Group specializes in the manufacturing of telecom and electric equipment. Its major products, sold all over 64 provinces in Vietnam, include corded phones, cordless phones, telephone switchboards, digital recorders, fax machines, mobile phones, cameras, camera cards, walkies talkies, fire alarm equipment, security equipment, digital satellite receivers and other related telecom equipment. "HAIHUY" label is synonymous with top quality and has earned the company many enviable awards. (www.haihuy.net)

Tan Phat Co., Ltd. is the first Vietnamese company specializing in manufacturing corrugated HDPE pipes using the latest South Korean technology. Its products have been used in numerous industrial and commercial projects, including those that are funded by the World Bank. (www.tanphathq.com.vn)

Saigon Technology University, initially established as the only technology college in Southern Vietnam in September 1997, was upgraded to university status in April 2004. The university currently has 5,000 students and offers degree programs such as informatics, mechanical engineering, electrical engineering, electronics, telecommunications, construction, and business administration. (www.saigon-uni.edu.vn)

In addition, other Vietnamese companies in Ho Chi Minh City, Hanoi, Central Vietnam, and the Mekong Delta have also enquired for similar assistance.

Henry Fahman, chairman and CEO of Providential Holdings, commented, "These companies that we work with represent viable investment opportunities for investors interested in watching emerging companies grow and harness the potential offered by the public markets." Fahman added: "As we know, Vietnam recently raised $750m with its debut government bond offering and demand was so strong for the dollar-denominated bond that investors put in orders totaling $4.5bn, six times the amount on offer. This may be a good harbinger for Vietnamese companies that seek to tap the international financial markets for additional capital to grow."

About Providential Holdings, Inc.

Providential Holdings specializes in mergers and acquisitions and invests in selective businesses with potential for high growth. The Company acquires and consolidates special opportunities to create additional value, acts as an incubator for emerging companies and technologies, and provides financial consultancy and M&A advisory services to U.S. and foreign companies. For more information on Providential Holdings and its activities, visit http://www.phiglobal.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. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.

Contact Information

  • Contact:
    Providential Holdings, Inc.
    Timothy Pham
    714-843-5456
    Email Contact