JAKARTA, Indonesia, April 13, 2018 /PRNewswire/ --
KinerjaPay Corp., (OTCQB: KPAY), a digital payment and ecommerce platform ("KinerjaPay" or the "Company") today announced a major plan to acquire several companies ranging from competitors to product-based companies that will be sold through the Company's established infrastructure. Combined with the Company's rapid organic revenue growth, the acquisitions will accelerate the Company's market share penetration in the nascent Indonesian Market. The Company feels confident that it has nearly $5 million of funding available for the appropriate acquisitions.
KinerjaPay has had and continues to have several discussions with target companies for acquisition or partnering arrangements. KinerjaPay expects that several of these will close soon. Mr. Edwin W. Ng, the Chairman and CEO of KinerjaPay Corp. said "The Indonesian ecommerce industry is ripe for consolidation. Therefore, business partnerships and acquisitions will strengthen Company's competitive advantage and its growth. We believe several recent discussions will be fruitful."
Mr. Ng, went on to say "We are proud that we have received commitments from capital sources who see that these strategic acquisitions will propel KinerjaPay into one of the leading ecommerce platforms in the fast-growing Indonesian market. Nearly $5 million has been committed to aid the Company for such deals. These deals will propel the Company towards significant profitability."
Mr. Deddy Oktomeo, the CEO of PT. KinerjaPay Indonesia, the Indonesian subsidiary Company of KinerjaPay Corp, commented, "Our team in Indonesia have been working very hard to materialize many win-win collaborations and possible acquisitions deals, which will strengthen the core competencies of KinerjaPay in the Indonesian eCommerce and digital payment market. This endeavor will transform KinerjaPay into a much larger and significant player in the market, simply through a series of synergistic acquisitions of growing startup companies in Indonesia."
Mr. Windy Johan, the Company's CFO, commented also that, "After securing the fund and selecting the right target partners, I am confident that we can achieve exponential revenue growth as well as synergizing our operation with them to achieve cost and operational efficiency, resulting on increased profitability and ROI."
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.
Notice Regarding Forward-Looking Statements
This press release may contain forward-looking statements, about KPAY's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, KPAY or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by KPAY with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of KPAY's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause KPAY's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause KPAY 's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in KPAY 's filings with the SEC. In addition, KPAY operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. KPAY does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Please see the risk factors associated with an investment in our securities which are included in our Annual Report on Form 10-K as filed with the U.S. Securities and Exchange Commission on February 11, 2016.
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 letter.
SOURCE KinerjaPay Corp.