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 Vietnam-Based Saplastic Public in the U.S.
| Source: Providential Holdings, Inc.
LOS ANGELES, CA and HO CHI MINH CITY, VIETNAM -- (MARKET WIRE) -- February 12, 2007 -- Providential
Holdings, Inc. (OTCBB : PRVH ) (German Stock Exchanges: PR7, WKN 935160), a
company providing international advisory services specializing in mergers
and acquisition and investing in the rapidly growing economies in Vietnam
and Asia, announced today a definitive agreement to take Saplastic Co.,
Ltd. public in the United States and arrange $5M to $10M to help implement
Saplastic's growth plan. Providential will receive stock from the new
public company for its services.
Saplastic, certified under ISO-9001 and ISO-14001, is one of the fastest
growing companies in Vietnam, specializing in the manufacturing and
marketing of plastic packaging products for the Vietnamese and export
markets. The company has a well-diversified client base and is recognized
as an excellent brand name in Vietnam, which can be viewed at
http://www.thuonghieuviet.com.vn/Vietnam/index.php?cmd=brand&cate=8. The
company plans to increase new product lines and, with funding, execute a
rollup strategy to consolidate selective targets and become a $100 million
company during the next three to five years.
Saplastic CEO Thai Q. Duong said, "This is indeed a major milestone for our
company. We believe by listing our stock on a U.S. exchange, Saplastic will
gain greater visibility, enhanced liquidity, and a higher valuation, which
will enable us to raise the required capital to take our company to the
next level."
Chairman and CEO Henry Fahman said, "We are pleased to seal the agreement
with Saplastic as planned. We believe Saplastic is well positioned to
create tremendous value for shareholders of both companies when it becomes
a fully-reporting publicly traded company in the U.S."
About Saplastic
Saplastic, the short name for Saigon Plastic Packaging Co., Ltd.,
specializes in the manufacturing and marketing of high-quality plastic
packaging products, including flexible packaging, calendars, lottery
tickets, corrugated boxes, cardboard boxes, brochures, leaflets, posters,
greeting cards, etc., serving a wide spectrum of industries in Vietnam and
the export markets. The company was certified under ISO-9001 in 2000 and
ISO-14001 in 2004 for its high-quality products and environmental control.
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. For more information on Providential Holdings and its
subsidiaries, visit http://www.phiglobal.com. 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.
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.