Starworks Global Pte Ltd. (“Starworks”) a Singapore company is a business accelerator and technology developer.
Starworks has agreed to acquire up to fifty percent (50%) of PT Taman Bintang Bali, a local Indonesian company operating in the Hospitality sector in Bali, Indonesia.
Starworks Global Pte Ltd will issue up to one hundred million (100,000,000) STARX Tokens based on the Ethereum ERC 777 platform to PT Taman Bintang Bali. The transactions will be secured by Convertible Note, the value of such to be determined by the market price of each tranche of Tokens traded.
The acquisition of shares by Starworks is further subjected to the rules and regulations of foreign ownership of corporations in the Republic of Indonesia in addition to normal acceptable terms and conditions of a Convertible Note. A condition of the Convertible Note is a change of Company name to PT Karya Bintang Nusantara, meaning “Starworks Indonesia”. It is intended that PT Taman Bintang Bali will become Starworks Global Pte Ltd., Indonesian holding company for its various direct operations and business accelerator and incubator client investments.
The StarX Tokens are expected to be listed on several Digital Exchanges over the next few weeks, allowing PT Taman Bintang Bali to convert Cryptocurrency into Fiat funds where necessary.