8:00 am ET September 4, 2018 (PR Newswire) Print
KinerjaPay Corp., (OTCQB: KPAY), a digital payment and e-commerce platform, (“KinerjaPay” or the “Company”) today announced the completion of its acquisition of PT. Kinerja Indonesia after the signing ceremony of the agreement in Jakarta.
Following the previous news release on May 14, 2018, “KinerjaPay to acquire PT. Kinerja Indonesia,” the Company now announces that the acquisition progress of PT. Kinerja Indonesia has completed. The result of this acquisition will enable the Company to consolidate all of its previous accumulated gross revenue to date. At the same time, the Company will end its existing service agreement with PT. Kinerja Indonesia that was signed on February 20th, 2016, and to distribute existing 1,333,333 restricted common shares of KinerjaPay Corp to complete the process.
This acquisition also means that the Company now has the ability to consolidate its IP technology and manage its 1,500 square-feet data center located in North Sumatra. The Company plans to expand the data center business to provide cloud computing services as well as data mining from KPAY’s existing customer base. Also, the Company will start to evaluate the possibility of crypto mining using existing facility to mine multiple cryptocurrencies at low cost.
Mr. Edwin Witarsa Ng, CEO KinerjaPay Corp., commented on the announcement, “This most anticipated acquisition of PT. Kinerja Indonesia will unlock many potentials to KinerjaPay Corp., which will make the Company much more cost efficient to run its business in the long run, as well as to potentially bring in more revenues from other IT services such as cloud computing, data mining, and crypto mining.” Mr. Ng further commented that the Company will also could consolidate all of its gross revenues previously recorded under PT. Kinerja Indonesia as part of the Company’s overall gross revenue.
About KinerjaPay KinerjaPay enables consumers to “Pay, Play and Buy” through its secure web portal and mobile applications. Based in Indonesia, the Company provides easy and convenient payment solution while shopping online at its marketplace platform. With its current omni-channel platform, users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone at their convenience. KinerjaPay is also planning to launch other eCommerce verticals such as travel market, delivery services, and online gaming in the near future. The Company’s services are available through its mobile applications and on its website at http://www.kinerjapay.com.