Peak Subsidiary ASDS Signs Lending Partnership Agreement and Officially Launches Cubeler Platform in China
Montreal, Quebec--(Newsfile Corp. - August 14, 2017) - Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that its subsidiary, Asia Synergy Data Solutions ("ASDS"), has signed a lending agreement with Wuxi Jinxin Internet Small Loans Ltd. ("WJISL"), and has officially launched the Cubeler commercial lending platform in China at www.cubeler.cn.
WJISL is a subsidiary of the government-owned Wuxi Financial Investment Group Ltd. (http://www.wxfig.com/), and allows institutions to engage in consumer and commercial lending transactions, often while they wait to receive their own lending license. This agreement between ASDS and WJISL means that ASDS will be able to provide the financial services that Asia Synergy Financial Capital ("ASFC") is expected to provide on the Cubeler platform once ASFC becomes operational. Under the terms of the agreement, ASDS will pay WJISL a fee equivalent to an annual interest rate of 0.2% on loans extended by ASDS to registered businesses on the Cubeler platform. The agreement is for an initial term of two years and can be terminated at any time by ASDS, which ASDS plans to do once ASFC is able to assume the financial services responsibilities for Peak's group of companies.
"There were just too many attractive lending opportunities in front of us to not have entered into this agreement with WJISL," commented Liang Qiu, CEO of ASDS. "This puts us in a great position. It allows us to immediately take advantage of opportunities on Cubeler while at the same time giving us the flexibility to shift things over to ASFC at the appropriate time," concluded Mr. Qiu.
Cubeler is a commercial lending platform that matches any business looking for credit with a variety of lenders. Cubeler periodically reads financial data coming from the registered businesses' accounting software, analyses several data points and calculates a series of financial ratios to determine how well the business is performing. Those data points and ratios are then compared to Cubeler's registered lenders' lending criterial and the resulting matches are shown to the lenders and the businesses, much like the way a dating website would show its members their compatible matches.
AboutPeak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. is an IT portfolio management company whose mission is to assemble, finance and manage a portfolio of high-growth-potential companies and assets in some of the fastest growing tech sectors in China, including Fintech, e-commerce and cloud-computing. Peak provides its shareholders with exceptional growth potential by giving them access to the fastest growing sectors of the world's fastest growing economy. For more information: http://www.peakpositioning.com.
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Source: Newsfile Corp.