OxPay Financial extends deadline for PT Diners Indonesia investment deal

OxPay is looking to invest $1.5m for a 45% stake in PT Diners.

OxPay Financial has extended the exclusivity period for its proposed investment in PT Diners Payment Indonesia to 31 July.

The company said in an announcement over the weekend that the extension will give OxPay more time to perform the due diligence and to negotiate the definitive agreements for its proposed investment in the Indonesian firm.

In November 2023, OxPay announced that it is investing US$1.1m ($1.5m) for a 45% stake in PT Diners Payment Indonesia, a company primarily serving as an agency for the country’s Discover and Diners Club, and engaging in merchant acquiring payment processing businesses.

The SGX-listed firm said the extension does not affect other terms and conditions in the original agreement or the term sheet.

Last month, Oxpay secured a $2m convertible loan facility from Oxley Capital Management, owned by its controlling shareholder, Ching Chiat Kwong.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia