Company: PHIL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011742
Chunk: 35

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 to:

1.
Identify, build, acquire, commit and deploy valuable resources with distinctive competitive advantages;

2.
Identify, evaluate, acquire, participate and compete in attractive businesses that have large, growing market potential;

3.
Build an attractive investment that includes points of exit for investors through capital appreciation or spin-offs of business units.

SUBSIDIARIES:

As
of November 19, 2024, the Company has the following subsidiaries: (1) Asia Diamond Exchange, Inc., a Wyoming corporation (100%), (2)
Philux Global Funds SCA, SICAV-RAIF, a Luxembourg Reserved Alternative Investment Fund (100%), (3) Philux Luxembourg Development S.A.,
a Luxembourg corporation (100%), (4) PHI Luxembourg Holding SA, a Luxembourg corporation (100%), (5) Philux Global General Partners SA,
a Luxembourg corporation (100%), (6) Philux Capital Advisors, Inc., a Wyoming corporation (100%), (7) Philux Global Advisors, Inc., a
Wyoming corporation (100%), (8) Philux Global Healthcare, Inc., a Wyoming corporation (100%), (9) Philux Global Energy Inc., a Wyoming
corporation (100%), and (10) Philux Global Vietnam Investment and Development Company Ltd., a Vietnamese limited liability company (100%)

ASIA
DIAMOND EXCHANGE AND INTERNATIONAL FINANCIAL CENTER IN VIETNAM

Along
with the establishment of Philux Global Funds, the Company has worked with the Authority of Chu Lai Open Economic Zone in Central Vietnam
and the Provinces of Quang Nam and Dong Nai, Vietnam, to develop the Asia Diamond Exchange for lab-grown, rough and polished diamond
together with a multi-commodities and logistics centers.

Mr.
Ben Smet, who successfully established the Dubai Diamond Exchange in 2002-2005, has been leading fulltime a group of experts for the
setup of the Asia Diamond Exchange since January 2018. He has brought together the 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 currently aiming at the Thanh