Providential Holdings Forms Vietnam-Focused Asset Management Company
LOS ANGELES, CA and HANOI, VIETNAM--(Marketwire - March 25, 2008) - Providential Holdings,
Inc. (OTCBB: PRVH), a company providing advisory, merger and acquisition
services as well as independently investing in Vietnamese economic
opportunities, today announced the formation of Providential Asset
Management, Inc. (ProAM), a joint venture between Young New York Partners,
LLC and Providential Capital, Inc., a division of Providential Holdings.
Under the terms of the agreement, Young New York Partners has a 40% stake
on the venture, while Providential Capital will retain 60% ownership. ProAm
specializes in asset allocation, restructuring and risk management services
for Vietnamese companies.
ProAm Managing Partner, Quang Nguyen, said, "Our mission is to restructure
and capitalize emerging businesses or distressed companies by effectively
re-positioning them to become market leaders in Vietnam and prominent
global players. To achieve this goal, we will provide diverse and proactive
asset management along with world-class advisory services and
state-of-the-art financial tools to maximize results for our clients and
investors. Our professional team will assist clients in creating liquidity,
provide stability for operations while putting new financial structures in
place, and restore confidence in these companies."
"ProAM has recruited more than 30 investment and management professionals
with advanced business degrees from the U.S. and around the world. All
recruits have international business experience and have had direct
experience doing business in Vietnam," Nguyen added.
"ProAM has already secured a large pipeline of clients who are eager to
begin work with us. To service their needs more effectively, we are in the
process of opening two branch locations in Vietnam, one in Hanoi and
another one in Ho Chi Minh City," said Benjamin Tran, co-founder of the
About Providential Asset Management, Inc.
Providential Asset Management, Inc. (ProAM) (http://www.proamvn.com) is a
Vietnam-focused asset management company with headquarters in Huntington
Beach, California. ProAM's mission is to empower Vietnamese companies to
enter the global market in the post-WTO era by providing world-class asset
management and advisory services to maximize results for clients and
investors. ProAM is a joint venture between Young New York Partners, LLC
and Providential Capital, Inc. (http://www.providentialcap.com), a
cross-border M&A advisory arm of Providential Holdings, Inc.
About Providential Holdings, Inc.
Providential Holdings and its subsidiaries engage in a number of diverse
business activities, providing advisory, merger and acquisition services as
well as independently investing in Vietnamese economic opportunities. As
part of its activities in Vietnam, Providential has been hosting seminars
in conjunction with the Nasdaq Stock Market, the Vietnam Chamber of
Commerce and Industry and leading U.S. investment banking firms, to help
Vietnamese companies go public and raise capital through the U.S. financial
markets. For more information on Providential Holdings, visit
A profile for investors can be accessed at
For investor relations questions regarding Providential, contact Antonella
Montagna or Frank Hawkins, Hawk Associates, at 305-451-1888, e-mail:
Providential.firstname.lastname@example.org, or visit
http://www.americanmicrocaps.com or http://www.hawkassociates.com. To sign
up for free e-mail notification of future releases, visit
Safe Harbor: This news release contains forward-looking statements that are
subject to certain risks and uncertainties that may cause actual results to
differ materially from those projected on the basis of such forward-looking
statements. Such forward-looking statements are made based upon
management's beliefs, as well as assumptions made by, and information
currently available to, management pursuant to the
"safe-harbor" provisions of the Private Securities Litigation Reform Act of
Contact Information: Investor Relations Contact:
Hawk Associates, Inc.
Antonella Montagna and Frank Hawkins
17011 Beach Boulevard
Huntington Beach, CA 92647