Business & Finance
Brought to you by: Monaco Life
When Range International raised $50 million to list on the Australian Stock Exchange on July 22, few people knew that royalty stood behind the fifth-largest shareholder in the maker of recycled plastic pallets.
Holding 3.51 percent of Range’s issued capital is Enviro Pallets Europe SARL, an entity controlled by Prince Albert.
Along with the likes of Sri Widati Ernawan Putri, an Indonesian heiress, the Prince is supporting Range’s $2.5 million USD purchase of a factory in Surabaya, a deal currently in due diligence. It will eventually contain 14 pallet-making machines, imported from New Zealand’s Scott Technology at $1.8 million USD apiece, to produce pallets from waste plastic using a patented process called ThermoFusion.
Range International’s founder, Matthew Darby, said that Prince Albert became an investor in 2012. “The Prince is a keen environmentalist, he’s particularly concerned with deforestation so he understood the potential impact of what we were doing,” Darby said.
“He’s been very supportive and as you can imagine his network’s pretty good.”
Of the 4.6 billion pallets forecast to be made globally in 2016, Darby claimed 90 percent of them would be wood, making the humble item a major culprit in the “quiet crisis” of deforestation.
“We lose a football field of trees every four seconds in the world, and the wooden pallet industry accounts for 40 percent of the cut timber very year,” he said. Source: Financial Review (Australia)
Jeremy Williman, the man behind the retractable barrier system ‘Tensabarrier’, speaks about his new project, the ‘Dragonfly’, a hyperscooter bringing luxury to the future of micro-mobility.
Inflation unexpectedly rose in June in the Eurozone, prompting fear among experts that consumer price growth will be stunted for several years.
Monaco will extend its financial support for businesses most affected by the Covid crisis as part of a new four-point plan to revive the local economy.
The State of Monaco has been ordered by the Supreme Court to pay Caroli Immo €137 million plus interest over the abandoned Esplanade des Pêcheurs project.
The third annual Ladies Vintage Car Rally is almost here again with the same purpose as the very successful previous events, to raise funds for Child Care Monaco’s girls’ school in India. This year’s Rally on September 18 takes on a new dimension with Place du Casino of Monte-Carlo especially privatised for the event.
Organiser Martine Ackerman reminds participants that, unlike many motoring events in Monaco, this is not a race. “Come enjoy, or even drive the beautiful vintage cars thanks to the great help and support of Fabrice Leroy from Rent a Classic Car and the other sponsors such as Café de Paris, Restaurant CastelRoc, Organic Spa & Hair, Champagne Taittinger and many more,” Martine says.
The theme for 2016 is “Belle en perles – Coco Chanel style,” which needs no translation. The day starts at 8:15 am in front of the Casino, with departure at 9 am, and ends at Palace du Palais at 7 pm, with a cocktail and awards giving at Le Castelroc restaurant. Martine emphasises the need for everyone participating to contact firstname.lastname@example.org before September 1, and in her usual friendly manner adds: “If you have any questions, needs or requests, we are here to help you!”
In 2012, Martine set up the association Child CARE Monaco with the objective to offer education to underprivileged children all over the world. After several visits to India, they established the Sneh Girls School, which welcomes 90 girls every day on borrowed premises. But the facility has quickly proved too small as it also accommodates girls from villages nearby so the following year, Child CARE Monaco build a school with a dispensary, two additional classrooms and a playground.
If you can't make the Ladies Vintage Car Rally, you can help by sending a donation or sponsoring a child age 5 to 13 for €149 per year, which covers 1 school year, 2 meals per day, basic medical needs and the school uniform.