NEW YORK, and SINGAPORE, Aug. 11, 2015 (GLOBE NEWSWIRE) -- PHI Group (Pink Sheets:PHIL), a U.S. public company engaged in energy and natural resources, announced today that its Chairman and CEO Henry Fahman will be a speaker at the 3rd Oleochemicals Outlook Conference to be held August 26-27, 2015 at the Westin Resort Nusa Dua, Bali, Indonesia.
The Company has partnered with Fusion Crest Sdn Bhd, a Malaysian company, to jointly set up an oleochemical plant in Johor, Malaysia. The new plant will capitalize on innovative proprietary patents with processing techniques that can convert non-edible oils or fatty acid distillates into value-added oleo chemical products, such as C-16 palmitic acid, C8/C10, C-12 lauric acid, C-14 myristic acid, methyl ester, methyl sterate/olate, refined glycerin and residue oil. The plant will utilize equipment from Sulzer Chemtech, a Swiss company (http://www.sulzer.com/en/).
The oleochemical project requires US$ 15 million in capital investment to process 120 tons of fatty acid distillates per day. Starting the second year of operation the plant is expected to generate about US$ 73,400,000 in revenues and US$ 13,200,000 in profits before taxes per annum, respectively.
The 3rd Oleochemicals Outlook is organized by Centre for Management Technology ("CMT") whose conference programs are tailored for today's and tomorrow's evolving business environment where technology, markets and products continuously change to gain a competitive edge.
This event brings together the who's who in the Oleochemicals value chain to share the latest insights on market trends, technology innovations and projects update in a high level business-networking platform. Register online at http://www.cmtevents.com/aboutevent.aspx?ev=150828&name=3rd-Oleochemicals-Outlook& to enjoy group discount. For information on sponsorship or exhibition opportunities, contact Ms. Fiona Pun at Fiona@cmtsp.com.sg
About PHI Group, Inc.:
PHI Group, Inc., a U.S. publicly traded company established in 1982 (Trading symbol: "PHIL"), adopts a double-tracked strategy to address the needs of both conventional energy and renewables and also participates in mineral and natural resources. The Company's projects include reclamation sand for Singapore land extensions, limestone for the cement industry and precipitated calcium carbonate (PCC), coal, biomass, and oleochemicals. In addition, the Company has been investigating various opportunities in gold, iron sand, nickel, titanium and infrastructure developments in Indonesia, Cambodia, Laos and Vietnam. Website: www.phiglobal.com
Safe Harbor: This news release and the featured interview contain 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.