NEW YORK and HANOI, Vietnam, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Myson Group, Inc. (OTC Markets:MYSN) announced today that the Company has been chosen as the general contractor to build the stupa and the upper presbytery for the prestigious Vietnam Buddhist National Pagoda (Viet Nam Quoc Tu) at 242 Feb-3 Street, District 10, Ho Chi Minh City, Vietnam. The initial value of this contract is VND 76.23 billion (approximately USD 3.42 million) plus 10% VAT. The Company is also in the process of completing the Myson Tower project with a contract value of VND 652 billion (approximately USD 30 million) in Hanoi, Vietnam.
Through its majority-owned Van Phuc Holding Building and Trading Joint Stock Company, Myson provides turnkey building and construction services for commercial, industrial and residential projects, including high-rise buildings, urban complexes, industrial parks, hotels, condominium and apartment buildings. Continuing to improve on its tradition of excellence in offering efficient and cost-effective building and construction solutions to its clients, the Company expects to announce other project contracts in the pipeline in the near future.
Son Duong, Chairman and CEO or Myson Group, commented: "We are honored to have been chosen as the general contractor for these important portions of the renowned Vietnam Quoc Tu project and are confident that we will be able to offer most desirable solutions and value to our client."
The Company anticipates completing the financial audits in accordance with the U.S. Generally Accepted Financial Principals (GAAP) by a PCAOB-registered auditing firm in the coming weeks and will be able to file Form 10 with the Securities and Exchange Commission in order to regain its full reporting status and to upgrade its listing onto a higher trading venue.
About Myson Group, Inc.
Myson Group, Inc., a Nevada corporation established in 1987, has been engaged in semiconductors, environmental services and, more recently, development of mineral properties in Southeast Asia. The company has acquired a majority interest in Van Phuc Holding Building and Trading JSC, a profitable operating Vietnam-based company, and will be launching new business development programs both in the U.S. and Southeast Asia aiming to create significant value for our shareholders and investors. Website: www.mysongroup.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.