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KinerjaPay Corp (OTCPK: KPAY), based in Indonesia, announced it has received IDR 22.62 billion from its first shipment of steam coal to China. The expected profit from this transaction is IDR 2.47 billion (approximately US$170,000). The company plans to load another vessel by May 25, 2021, due to a holiday delay. KinerjaPay aims to continue its coal shipments as demand in China rises. The company also intends to expand its payment gateway and e-commerce services.
KinerjaPay Corp (OTCPK: KPAY) has successfully completed its first shipment of 53,400 MT of steam coal from East Kalimantan to China, aiming for further shipments. The initial shipment is projected to yield a profit of approximately US$170,000 with a gross profit margin of 10.6%. The company expects to ship an additional 45,000 MT of coal by May 15, 2021. CEO Edwin Ng noted rising demand for Indonesian coal in China, projecting revenues exceeding $100 million and profits over $12 million in the next twelve months, indicating a potentially robust cash flow from commodity trading.
KinerjaPay Corp (OTCPK: KPAY), a payment gateway and ecommerce company in Indonesia, reported an update on its coal shipment to a buyer in China. The loading of 55,000 MT of coal commenced from East Kalimantan, slightly delayed from February 2021 due to the mother vessel's arrival and quality inspections. The CEO, Edwin Ng, anticipates revenues exceeding $100 million within the next year, with profits over $12 million. The company is exploring additional buyers for Indonesian coal, aiming to enhance its business offerings.
KinerjaPay Corp (OTCQB: KPAY) announced it received a Letter of Credit for a coal shipment of 70,000 Metric Tons to Tianjin Port, China, valued at US$2.1 million. The shipment, scheduled between February 20-28, 2021, is expected to generate over $10 million in operating profit. CEO Edwin W. Ng expressed confidence in the operation's success and mentioned the preparation for future shipments.
KinerjaPay also plans to expand its e-commerce services and enhance its digital payment solutions in Indonesia.
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