PHI Group Inc (PHIL) has released an update.
Philux Capital Advisors, Inc. has inked a deal with a high-net-worth investor group to oversee an investment fund worth over $562 million. Under the five-year agreement, Philux will manage various investments, charging a 5% annual fee and claiming a 30% share of profits. The fund is earmarked for significant projects in Vietnam, including tech and infrastructure developments, and will also support the company’s share buyback program. Philux anticipates rapid utilization of part of the fund, allocating $3.5 million to finalize pending financial deals.
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