MONTREAL, QUEBEC – (NEWSFILE – September 19, 2018) – Peak Positioning Technologies Inc. (CSE: PKK) (“Peak” or the “Company”) today announced that its financial services subsidiary Asia Synergy Financial Capital (“ASFC”) has reported a significant increase in the annual interest rates charged on the loans it extended to small and medium sized businesses during the months of July and August 2018.
ASFC began issuing loans in May 2018 with an effective annual interest rate of 10%, which is well below the interest rate that Chinese SMEs would typically be expected to pay for similar types of loans. ASFC was able to convert loans previous issued at a 10% annual interest rate much quicker than expected to loans carrying annual interest rates that better reflect industry rates in China. Those rates are usually between 17% and 18%, or even higher in certain cases. As a result, over 65% of ASFC’s outstanding loans as of the end of August 2018 were earning an annual interest rate of 17% or better, as will virtually all new ASFC loans from this point forward.
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 promising companies and assets in some of the fastest-growing tech sectors in China, including fintech, e-commerce and cloud-computing. Peak provides a bridge for North American investors who wish to participate in the continued digitization of China’s industrial sectors through the latest advancements in technology. For more information: http://www.peakpositioning.com
CHF Capital Markets
Phone: 416-868-1079 ext.: 231
President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
Forward-Looking Statements / Information:
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