To become a President Director of an Indonesian company you need to be a resident with a Kitas and a Tax File Number. So the current Range Directors are not eligible. Range International was set up in 2016 as a holding company which from my understanding has caused a whole lot of headaches and is why the WHT problem has arisen. The original promoters of this company did a very poor job in the corporate structure and then to make matters worse they put the factory in a bonded zone which means that operational restrictions are tighter and labour is more expensive. Have a chat with the current directors and you will hear a litany of historic problems which they thought they could overcome but so far no significant improvement.
RAN Price at posting:
0.6¢ Sentiment: None Disclosure: Held
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