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RELATED PARTIES BALANCE AND TRANSACTIONS | 12 Months Ended
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Dec. 31, 2020
Related Party Transactions [Abstract] |
RELATED PARTIES BALANCE AND TRANSACTIONS | NOTE 9 – RELATED PARTIES BALANCE AND TRANSACTIONS Related parties with whom the Company had transactions are:
Related Parties |  | Relationship
Maderic Holding Limited |  | Shareholder of IEC
HFO Investment Group Limited |  | Shareholder of IEC
Coalville Holdings Limited |  | Controlled by Dr. Wirawan Jusuf
Mr. Ignatius Indiarto |  | Commissioner of GWN, subsidiary of IEC
Mr. Mirza F. Said |  | Chief Business Development Officer of IEC
The related party transactions during the years ended December 31, 2020 ,2019 and 2018 are as follows: SCHEDULE OF RELATED PARTY TRANSACTIONS
|  | Years Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Repayment from a related party |  |  |  |  |  |  |  |  |  |  |  |
Coalville Holdings Limited |  | $ | - |  |  | $ | - |  |  | $ | 160,100 |
Repayment from a related party |  | $ | - |  |  | $ | - |  |  | $ | 160,100 |
Loan from a related party |  |  |  |  |  |  |  |  |  |  |  |
Maderic Holding Limited |  | $ | - |  |  | $ | 3,800,000 |  |  | $ | 4,500,000 |
Repayment to related parties |  |  |  |  |  |  |  |  |  |  |  |
Maderic Holding Limited |  |  | - |  |  |  | (3,800,000 | ) |  |  | (2,140,000 | )
Net loan from related parties |  | $ | - |  |  | $ | - |  |  | $ | 2,360,000 |
Shareholder debts converted to capital contribution |  |  |  |  |  |  |  |  |  |  |  |
Maderic Holding Limited |  | $ | - |  |  | $ | - |  |  | $ | 21,150,000 |
HFO Investment Group Limited |  |  | - |  |  |  | - |  |  |  | 3,150,000 |
Total shareholder debts converted to capital contribution |  | $ | - |  |  | $ | - |  |  | $ | 24,300,000 |
NCI subscription receivables transferred to the Company |  |  |  |  |  |  |  |  |  |  |  |
Mr. Ignatius Indiarto (HNE) |  | $ | - |  |  | $ | - |  |  | $ | 7,750 |
Mr. Mirza F. Said (HNE) |  |  | - |  |  |  | - |  |  |  | 7,455 |
Mr. Mirza F. Said (CNE) |  |  | - |  |  |  | - |  |  |  | 7,750 |
Total NCI subscription receivables transferred to the Company |  | $ | - |  |  | $ | - |  |  | $ | 22,955 |

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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