FRANKFURT, Germany and LOS ANGELES, Aug. 16, 2010 (GLOBE NEWSWIRE) -- A wholly-owned subsidiary of PHI Group (OTCBB:PHIE), PHILand Ranch Ltd. (Frankfurt:1P8) (XETRA:1P8) (WKN A0RPEA), announced today that it has set up a subsidiary to provide health care services in Southeast Asia.
PHILand Ranch is a company engaged in real estate development, hospitality and health care in Vietnam and Southeast Asia. It has renamed its wholly owned Singapore subsidiary PHILand Ranch, Ltd. as PHI Medical Ltd. to serve as its medical operating unit. It is a Singapore listed public company (No. 200906217G; ISIN Number: SG9999006092).
PHI Medical will focus on medical services in Vietnam and Southeast Asia. The company is acquiring a medical service company in Vietnam with licenses to operate general practice hospital facilities, import medical equipment and supplies and operate pharmacies.
PHI Medical intends to use this as a platform for acquisitions and strategic alliances to expand health activities in Vietnam, to provide advanced mainstream medical and diagnostic equipment for health care and to promote alternative research and therapies such as stem cells.
The company also plans to build new facilities at sites with attractive demographics characterized by young and affluent populations, limited competition, a mix of urban workforce and dense population and locations for expansion of ancillary service centers.
Henry Fahman, Chairman of PHI Group and PHILand Ranch, said, "We are delighted to be part of the solution to Vietnam's growing healthcare needs by providing quality medical services through a grouping of scalable healthcare facilities and complementary ancillary services."
About PHILand Ranch Ltd.
PHILand Ranch Limited, a United Kingdom corporation, is engaged in real estate development, hospitality and health care in Vietnam and the growing economies of Southeast Asia. The company is currently developing the first phase of a multi-billion dollar project at Pointe91 in Bien Rang, Chu Lai, Quang Nam Province, Central Vietnam through its wholly owned Vietnam-based subsidiary PHILand Vietnam Ltd. PHILand Ranch's stock is traded on the Frankfurt Stock Exchange: 1P8.F and Xetra: 1P8.DE, WKN A0RPEA. Website: www.PHILandranch.com/">www.PHILandranch.com.
About PHI Group, Inc.
PHI Group (OTCBB:PHIE) provides M&A advisory and consulting services, develops real estate and natural resources and invests in special situations. PHI Group, which specializes in raising capital and helping take companies public, is developing PHILand Ranch, one of the largest master planned communities in Vietnam. This project includes Pointe91, a luxury resort and premium residential community in Quang Nam province in central Vietnam (www.PHILandranch.com/">www.PHILandranch.com). PHI Group is also engaged in mining activities through its majority-owned subsidiary PHI Mining Group, Inc. (www.phimining.com/">www.phimining.com). Website: www.phiglobal.com/">www.phiglobal.com.