Important Announcement: Investment Update

Pursuant to the previous announcement regarding the delay of tranche payments by the Investor, the Company would like to provide an update on the investment process as follows:

The Investor had initially requested Zipmex Asia to modify the investment amount, which affected the original Scheme of Arrangement that was approved by the Singapore court. As of today, the Investor claims that the SSA has lapsed and that it is no longer bound to abide by the terms of the SSA. The Investor has also demanded a return on its working capital loan. 

The Company is now discussing with the investor to find the best available solution suitable for all parties.

The Company is aware of the impact that the Investor’s new position will have on the reopening schedule for Z Wallet. As such, Zipmex is now in negotiations with new investors in order to maximize returns for customers.

This has necessitated additional time for the investment process, and as such, Zipmex Asia has filed an application to the Singapore Court to extend the Moratorium period for another 2 months. The hearing date has yet to be fixed by the Court. The Company plans to use this period to find a solution, to the best of its ability, for the reopening of Z Wallet.

For further enquiries, reach out to Customer Support on Live Chat – we’re ready to help 24/7.

Singapore:

Email: [email protected]

Facebook: Zipmex Asia

Thailand:

Email: [email protected]

Facebook: Zipmex Thailand

Indonesia

Email: [email protected]

Facebook: Zipmex Indonesia

Australia:

Email: [email protected]

Facebook: Zipmex Asia