KinerjaPay Corp announced that Mr. Edwin W. Ng, the Company’s Chairman & CEO is investing $1,000,000 into the Company. Mr. Ng stated “I decided to inject my own capital from recent asset sales to jumpstart our micro-lending operation, using our KFUND platform. The opportunity for the Company to rapidly grow in Indonesia’s alternative lending market is a once-in-a-lifetime opportunity. I also want to demonstrate my commitment to our loyal shareholders. KFUND’s recently received license gives us the opportunity to generate significant earnings for KPAY this year.”
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Mr. Ng’s investment is in the form of a convertible preferred at $.10/share with no antidilution protection. This fund will also be used to support other main businesses of the Company, ie. eCommerce trades, B2B transactions, and Online Pulsa (Mobile Prepaid Topups).
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When asked about the Company’s future plan, the Company’s Chairman & CEO, Mr. Edwin W. Ng commented “We continue to make progress with several investors to deliver the MT-760 Bank Guarantees to allow KPAY’s Indonesian subsidiary to draw on its non-recourse credit line. We anticipate positively updating our shareholders shortly. I am convinced that the Company will grow and become a significant player in eCommerce as well as P2P lending. My investment will generate sales and cashflow growth. We expect to see results over the next three months.”
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