JAKARTA, Indonesia, Nov. 15, 2019 /PRNewswire/ -- The Company has been informed by Gabriel Capital Ltd., through Mr. Agoeng Noegroho its Chief Investment Officer, that its HSBC bank guarantee should issue to China Construction Bank, Jakarta (CCB) in favor of PT Kinerja Pay Indonesia, a wholly owned subsidiary, within the next week. The delay has been due to administratively adjusting the amount of the initial HSBC guarantee dollar amount to match the initial credit facility provided by China Construction Bank, Jakarta. Gabriel has said this process has been completed.
In addition to Gabriel Capital Ltd., several other investment groups are also planning to send major bank guarantee swift messages to CCB on our behalf. One of the groups has indicated it will deliver the Bank Instrument that will also allow us to draw down on the active credit line. The Bank has notified the company that once it draws down on the first $22.5 million, it will arrange in a short period of time to increase the line to match the bank guarantees that will be delivered to fulfill the $200 million private placement. Mr. Edwin W. Ng, CEO of KinerjaPay Corp., stated "We are being approached by several groups to invest on the favorable terms that have been announced. Gabriel will most likely be the first investor, but we will take further investments using this unique structure. We expect to close and draw down the first tranche over the next week once one of these guarantees are received."
KinerjaPay enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications. Based in Indonesia, the Company provides an 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 www.kinerjapay.com.
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For more information, please visit our website http://www.kinerjapay.co. There you will find access to all of our past press releases and SEC filings regarding the activities discussed in this release.
SOURCE KinerjaPay Corp.