Montreal, Quebec--(Newsfile Corp. - October 19, 2017) - Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that its Chinese subsidiary, Asia Synergy Data Solutions ("ASDS"), and China Auto Industry Development Ltd ("CAID") have signed an agreement to have CAID use the Cubeler commercial lending platform, managed by ASDS, as a solution to have its purchase orders financed.
CAID (http://www.chinaautom.com) is one of China's largest distributors of components that go into the making of various auto parts such as shock absorbers and steering systems. CAID sources components from over 400 suppliers and sells to close to 100 car manufacturing product procurement companies all over China.
"The signing of this agreement has very big implications for us for a number of reasons", commented Liang Qiu, CEO of ASDS. "It allows us to kick start the 3rd service offering on Cubeler, which is the matching of lenders and borrowers on the platform. CAID will now be eligible to receive financing from registered Cubeler lenders to purchase products from its suppliers. CAID does on average about 140 transactions per month. The company's solid reputation and willingness to pay up to 1.5% interest per month for one to two-month financing terms is a very attractive proposition that is sure to attract many lenders to the platform. So having them join Cubeler is a very significant event for ASDS", concluded Mr. Qiu.
About the Cubeler Platform:
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.
About Peak 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
CHF Capital Markets
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President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
Email: [email protected]
Forward-Looking Statements / Information:
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