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.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

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