Contact Information: Investor Relations Contact: Hawk Associates, Inc. Frank N. Hawkins, Jr. or Julie Marshall Phone: (305) 451-1888 Email: Email Contact
Providential Holdings Signs Agreement to Take Dai Dung Co. of Vietnam Public in the U.S.
High-Growth Profitable Company Seeking to Double Revenues in 2007 With $5M to $10M Expansion Financing
| Source: Providential Holdings, Inc.
LOS ANGELES, CA and HO CHI MINH CITY, VIETNAM -- (MARKET WIRE) -- December 6, 2006 -- Providential
Holdings, Inc. (OTCBB : PRVHE ) (German Stock Exchanges: PR7, WKN 935160), a
provider of international advisory services specializing in mergers and
acquisitions, has signed a business and financial consulting agreement with
Dai Dung Metallic Manufacture Construction and Trade Company, Ltd. of
Vietnam (DDC) to help take the company public in the United States.
Providential will also arrange $5 million to $10 million in financing to
expand DDC's production facilities. In exchange, Providential will receive
stock and/or cash from DDC.
Dai Dung Metallic Manufacture Construction and Trade Company Limited is one
of the leading designers, manufacturers and suppliers of pre-engineered
steel buildings in Vietnam. DDC provides consulting, designing,
manufacturing and installation of factories, workshops, warehouses,
supermarkets and other projects. Its customers include major companies in
China, France, Germany, Indonesia, Japan, Korea, Malaysia, Singapore,
Taiwan, Thailand, the United States and Vietnam. Founded in 1997 as Dai
Dung Metallic Workshop, the company incorporated in 2000 and relocated to a
150,000 square-foot premises in 2003. In 2004, the company was awarded ISO
9001 Quality Management System.
DDC is profitable and has grown at a rate of approximately 50% per year
from 2000 to 2004. The company anticipates generating about $12 million in
revenues in 2006 and expects to double that in 2007, given adequate
expansion capital.
Dai Dung's President Dung Tien Trinh said, "We will work with Providential
to go public and access institutional funding through the U.S. stock market
to further our growth strategy. Providential has the expertise and the
contacts to help us raise capital and operate on Wall Street."
Chairman and CEO Henry Fahman said, "Dai Dung is well positioned to go
public in the United States and can become a major player in the Southeast
Asian region with proper financing. This is the second in a series of
similar agreements with other companies in Vietnam and China that are
seeking to go public in the United States."
For more information about Dai Dung, visit http://www.daidung.com.vn.
About Providential Holdings, Inc.
Providential Holdings and its subsidiaries engage in a number of diverse
business activities, the most important of which are M&A advisory services
and independent energy. The company acquires and consolidates special
opportunities in selective high-growth industries 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. As part of its activities in Vietnam, Providential has
been hosting seminars in conjunction with the Nasdaq Stock Market, the
Vietnamese Chamber of Commerce and Industry and a leading U.S. investment
banking firm to help Vietnamese companies go public and raise capital
through the U.S. financial markets. For more information on Providential
Holdings and its subsidiaries, visit http://www.phiglobal.com.
A profile for investors can be accessed at
http://www.hawkassociates.com/prvhprofile.aspx.
For investor relations questions regarding Providential, contact Frank
Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail:
info@hawkassociates.com, or visit http://www.americanmicrocaps.com or
http://www.hawkassociates.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.