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KinerjaPay Announces Complete Acquisition of PT. Kinerja Indonesia

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KinerjaPay Announces Complete Acquisition of PT. Kinerja Indonesia

KinerjaPay Corp. has signed Share Purchase Agreement document with PT. Kinerja Indonesia to fully acquire it as the new Subsidiary

PR Newswire

JAKARTA, Indonesia, September 4, 2018 /PRNewswire/ --

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.  

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.



Media Contact:

KinerjaPay Corp.

Email: info@kinerjapay.co

Tel: +62-8229-777-0098

SOURCE KinerjaPay Corp.

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