New York, NY, Sept. 24, 2018 (GLOBE NEWSWIRE) -- PHI Group, Inc. (www.phiglobal.com) (OTCQB:PHIL), a U.S. diversified holding company focused on mergers and acquisitions and investments in select industries and special situations, today announced that Southeast Asia Capital Group, Inc., ("SEA Capital Group") a Nevada company established in 2004 and engaged in finance, international trade and project investment, has signed a contract with a Vietnam-based company to provide 5,000 MT of copper sheets per month to Vietnam for the next twelve months after the initial trial shipment of 3,000 MT.
According to the contract, the price for each shipment will be based on international market price (LME) at the time of shipment minus a fixed discount percentage agreeable to both the buyer and SEA Capital Group. Delivery will be CIF, buyer's terminal port. The source of the copper is from Republic Democratic of Congo.
Richard Phan, Chairman of Southeast Asia Capital Group, stated: " We are very pleased to enter this contract with our Vietnamese buyer and expect to generate a meaningful stream of income and profits for the Company as soon as the first shipment begins."
About Southeast Asia Capital Group, Inc.
Southeast Asia Capital Group is a Nevada company established in 2004. The Company is engaged in finance, international trade and commercial projects with potential for high returns on investment.
About PHI Group, Inc.
PHI Group (www.phiglobal.com) primarily focuses on mergers and acquisitions and invests in select industries and special situations that may substantially enhance shareholder value. PHI Group also provides M&A and consulting services through its wholly owned subsidiary, PHI Capital Holdings, Inc. (www.phicapitalholdings.com).
PHI Group currently owns a minority interest in SEA Capital Group. To Receive TEXT ALERTS on PHI Group Inc. TEXT " PHIL " To 522-36 or complete Web Form
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.
Richard Phan, Chairman
Southeast Asia Capital Group, Inc.
Source: PHI Group, Inc.