Corrections - Startup CMC Holdings Successfully Raised US$1.5 million in Co-founder Round to speed up developments, aiming for US$300 billion IPO target by 2027

* Zoom Conference Call with CMC Holdings’ Management Scheduled for February 10, 2022

New York, Jan. 27, 2022 (GLOBE NEWSWIRE) -- PHI Group, Inc. (, ), a U.S. company currently engaged in PHILUX Global Funds (a group of Luxembourg bank funds), the Asia Diamond Exchange project (“ADE”) in Vietnam, mergers and acquisitions and investing in special situations (), is pleased to announce that Vietnam-based startup CMC Holdings, of which PHIL is a founding member, successfully raised US$ 1.5 million in a co-founder round in Hanoi last week and will speed up the development of a digital ecosystem across several platforms to fulfil the needs of billions of consumers throughout the world ().

With a roadmap of 7 investment rounds: co-founder, angel, Series A, B, C, PE, and IB, CMC Holdings has met its first milestone towards the IPO target of US$ 300 billion by 2027. Other Vietnamese startup companies that have market valuation over US$ 1 billion include VNPay () , MoMo () and VNG ()

CMC Holdings' digital ecosystem will include Hyperas Chain - a specialized platform for coding assets, Pindias - a transaction management platform for digital asset logs, Divega - an auction e-commerce platform and Rapital Bank - a digital banking service available anytime. Divega is the SIB (Social Impact Business) model. The project not only gives a place to trade genuine good, limited goods at "unbelievable" prices under the lowest auction, but the profits will be used for society's charity.

According to the plan, CMC Holdings will roll out these major initiatives in 2022 and 2023, with coding assets, auction platforms, and digital banking services. 

CMC Holdings has invested a significant amount of time examining the market and long-term business models. From the beginning, CMC Holdings has focused on solving social problems and sustainable development. It attaches great importance to social values and focuses on the vital core areas of this world.

Co-founders who are also business owners and individual investors successfully raised the first round of investment. Most investors' selections are based on a thorough grasp of the digital economy's value to the market, as well as extensive proof of successful enterprises over time. 

Mr. Tran Nam Chung, Chairman of CMC Holdings, believes that the expansion of the digital economy is clear when discussing the business plan. It affects retail, e-commerce, fintech, AI, VR, AR, blockchain, and more. In addition, he believes that having breakthrough ideas, as well as a self-contained and expanding ecosystem to suit the increasing needs of consumers, is a sufficient condition for these opportunities to materialize. CMC Holdings, in particular, must establish and utilize the crucial leverage: finance, branding, and technology, in order to be successful in sustainable growth. 

Henry Fahman, Chairman and CEO of PHI Group, Inc., reaffirmed: “We are delighted to collaborate with and assist CMC Holdings in this ambitious program to generate potentially significant value for shareholders of both companies. While continuing to fulfill our major initiatives regarding our Luxembourg bank funds, development of the Asia Diamond Exchange, blockchain-crypto technology projects, mergers and acquisitions, etc., we also participate in unique special situations like this to create additional value for our shareholders.”

Please join us for a discussion with CMC Holdings’ Management on February 10, 2022:

Topic: CMC Holdings Management Zoom Conference

Time: Feb 10, 2022 10:00 AM Eastern Time (US and Canada)

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Meeting ID: 417 780 6661

Passcode: cmcphi

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About CMC Holdings

CMC Holdings, a Vietnam-based corporation, was founded based on the global business ambition of its founders who have a wealth of experience in the field of investment, restructuring and developing cross-border projects. 

CMC was inspired by connecting a community of competent entrepreneurs in the new economic field of the millennium, and the company attaches great importance to social values and focuses on the vital core areas of the rapidly changing world in a new digital era.

It is a team of qualified personnel, advisors, CEO’s, CMO’s... all of them have many years of experience in restructuring, M&A, Marketing, and business management industries. 

The founding partners include PHI Group (USA), and the leading individuals are Mr. Tran Nam Chung and many other associates. Aura Capital is the strategic stakeholder in Vietnam.

About PHI Group

PHI Group (, ) primarily focuses on advancing PHILUX Global Funds, a group of Luxembourg bank funds organized as “Reserved Alternative Investment Fund” (“RAIF”), and building the Asia Diamond Exchange (“ADE”) in Vietnam. The Company also engages in mergers and acquisitions and invests in select industries and special situations that may substantially enhance shareholder value.

Safe Harbor Act and Forward-looking Statements

This news release contains “forward-looking statements” pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected,” which are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors.

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