Company: PHIL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011742
Chunk: 68

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 68
---
8. He has brought together main trading players in the rough diamond industry to
come to Vietnam. He has also established a partnership with the biggest player in the rough trading and polishing business and engaged
other main international diamond trading groups to join the overall venture.

The
Company has taken the decision to move the greater part of the ADE rough and polishing venture, first to an Industrial Zone to be established
close to the new international Airport in Long Thanh District, Dong Nai Province, Vietnam and is currently aiming for the Thanh Da Peninsula
in conjunction with the contemplated International Financial Center. This location change has caused that the entire KPC Process and
administration had to be adapted and redone with renewed financial input, mostly carried by Mr. Smet.

Once
the Company has effectuated all budgeting and all financial requirements and obligations, the ongoing process will effectively materialize
and Mr. Smet then shall transfer the entire venture to Philux Global Group, Inc.

5.
Investment Commitment AgreementS WITH Saigon Silicon City JSC

On
February 21, 2023, Philux Global Group Inc. (a/k/a PHI Group, Inc.) and its subsidiaries Philux Global Funds SCA, SICAV-RAIF and Philux
Global Vietnam Investment and Development Company, Ltd., (collectively referred to as “the Investor”) signed an Investment
Commitment Agreement with Saigon Silicon City Joint Stock Company (“SSC”) whereby the Investor is committed to providing
or causing to be provided a total of five hundred million U.S. dollars (USD 500,000,000) for investment in Saigon Silicon City for the
first phase of construction and subsequent additional capital as needed to complete its entire development and investment program over
a 52-hectare of land at Lot I6 & I7, Road D1, Saigon High Technology Park, Long Thanh My Ward, District 9, Ho Chi Minh City, Vietnam.

According
to the Investment Commitment Agreement, within thirty days of the signing of this Agreement, the Investor will provide or cause to be
provided fifty million U.S. dollars (USD 50,000,000) for SSC to resume the implementation of its building plan. Additional tranches of
fifty million U.S. dollars (USD 50,000,000) will be released to SSC at regular intervals as needed to ensure uninterrupted construction
progress. Both Parties shall determine and stipulate the terms and conditions for the Investment Commitment in