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MIRA INFORM REPORT
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Report No. : |
504741 |
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Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
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Name : |
AVIGA IMPEX LIMITED |
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Registered Office : |
Section 38, Allotment 33 Building 4, Unit 5, Steamships Compound
Hohola National Capital District |
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Country : |
Papua New Guinea |
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Date of Incorporation : |
12.10.2015 |
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Com. Reg. No.: |
1-108331 |
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Legal Form : |
Private Company limited by shares |
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Line of Business : |
Subject is engaged in Wholesale of
metals and metal ores. |
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No. of Employees : |
7 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Papua New Guinea |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
PAPUA NEW GUINEA - ECONOMIC OVERVIEW
Papua New Guinea (PNG) is richly endowed with natural resources, but exploitation has been hampered by rugged terrain, land tenure issues, and the high cost of developing infrastructure. The economy has a small formal sector, focused mainly on the export of those natural resources, and an informal sector, employing the majority of the population. Agriculture provides a subsistence livelihood for 85% of the people. The global financial crisis had little impact because of continued foreign demand for PNG's commodities.
Mineral deposits, including copper, gold, and oil, account for nearly two-thirds of export earnings. Natural gas reserves amount to an estimated 155 billion cubic meters. Following construction of a $19 billion liquefied natural gas (LNG) project, PNG LNG, a consortium led by ExxonMobil, began exporting liquefied natural gas to Asian markets in May 2014. The project was delivered on time and only slightly above budget. The success of the project has encouraged other companies to look at similar LNG projects. French supermajor Total is expected to begin construction on the Papua LNG project by 2020. Due to lower global commodity prices, resource revenues of all types have fallen dramatically. PNG’s government has recently been forced to adjust spending levels downward.
Numerous challenges still face the government of Peter O'NEILL, including providing physical security for foreign investors, regaining investor confidence, restoring integrity to state institutions, promoting economic efficiency by privatizing moribund state institutions, and maintaining good relations with Australia, its former colonial ruler. Other socio-cultural challenges could upend the economy including chronic law and order and land tenure issues.
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Source
: CIA |
Company
Summary
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Business
Name |
Aviga
Impex Limited |
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Country |
PAPUA
NEW GUINEA |
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Company
Registration Number |
1-108331 |
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Main
Activity Code |
4672 |
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Main
Activity Description |
Wholesale
of metals and metal ores |
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Company
Status |
(Active) |
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Latest
Turnover Figure |
- |
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Latest
Shareholder Equity Figure |
- |
Basic
Information
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Business
Name |
Aviga
Impex Limited |
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Registered
Company Name |
Aviga
Impex Limited |
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Company
Registration Number |
1-108331 |
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Country |
PAPUA
NEW GUINEA |
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VAT
Registration Number |
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VAT
Registration Date |
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Date
of Company Registration |
2015-10-12 |
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Date
of Starting Operations |
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Commercial
Court |
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Legal
Form |
Private
Company limited by shares |
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Type
of Ownership |
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Company
Status |
(Active) |
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Principal
Activity Code |
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Principal
Activity Description |
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Contact
Telephone Number |
675
325 0354, 675 7916 3476 |
Main
Address
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Address |
Country |
Telephone |
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Section 38, Allotment 33 Building 4, Unit 5, Steamships
Compound Hohola National Capital District |
PAPUA
NEW GUINEA |
675
325 0354, 675 7916 3476 |
Other
Address
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No
other addresses for this company. |
Previous
Address
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No previous
addresses for this company. |
Activities
|
Activity Code Activity Description |
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4672 Wholesale of metals and metal ores |
Email
Addresses
Web
Pages
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No web
pages for this company. |
Employee
Information
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Date Number of Employees |
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2018 7 |
Banker
Information
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No
banker information for this company. |
Advisors
Information
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No
advisor information for this company. |
Miscellaneous
Information
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Fax
Number |
n/a |
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Export
Countries |
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Import
Countries |
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Additional
Business Information |
The
company operates as a buyers, exporters and refiners of gold. Subject matter
is authorized by the Bank of Papua New Guinea to export alluvial gold. |
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Additional
Rating Information |
Average
Credit Quality: Credit can proceed ONLY on strict financing terms. Revision
of Credit Limit: Periodic /quarterly.
Risk Index: Medium. |
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Additional
Payment Information |
No
payment information available. |
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Additional
Financial Information |
The
company is not required to publish the accounts. Upon direct approach it
proved impossible to obtain further financial details. As far as we could
gather was the company during 2015 and 2016 dormant; however, present number
of employees is said to be 7 so we assume that the operations commenced
during 2017 or 2018. |
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Number
of Employees at Address |
7 |
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Number
of Employees at Group |
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Number
of Employees at Factory |
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Additional
Miscellaneous Information
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Postal
Address |
P O
Box 2451 Port Moresby National Capital District Papua New Guinea/PG |
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Industry
Division |
Wholesale
trade |
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Capital
Structure |
25,000
Registered shares of PGK 1 |
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Registered
Legal Address |
Section 38, Allotment 33, Building 4, Unit 5, Steamships
Compound, Hohola, National Capital District, Papua New Guinea/PG |
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Responsible
Register |
Investment
Promotion Authority |
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Established |
2015,
The supplier could get only information on year, not month and day at this
time. |
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Line
of Business |
Consumer
goods wholesale |
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Financial
year |
2017 |
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Date
of Statutes |
n/a |
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Import/Export |
Export |
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Banks |
unknown |
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Real
Estate |
The
property at the operating address is rented. |
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Background
Of Shareholders |
Shareholder 1. Entity Name : MILSTAR
INVESTMENT LIMITED, Registered Office Address : Suite B, 11th Floor Hang Seng, Causeway Bay Building, 28 Yee Wo Street, Causeway Bay, HONGKONG, China. Place of Incorporation : China. Postal
Address : Suite B, 11th Floor Hang Seng, Causeway Bay Building, 28 Yee Wo Street, Causeway Bay, HONGKONG,
China. This entity has consented to act as a shareholder for this company : Yes. Shareholder 2. Shareholder is also a director : Yes, Name
: Aviral AHLAWAT, Residential or Registered
Office Address : Section 6, Allotment 14, Granville, Port Moresby, National
Capital District, Papua New Guinea. Postal Address : Po Box 32, Port Moresby,
National Capital District, Papua New Guinea, Nationality : India, This
person has consented to act as a shareholder for this company : Yes. |
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Operations
And Branches |
At
the address, Section 38, Allotment 33, Building 4, Unit 5,
Steamships Compound, Holola, National
Capital District, Papua New Guinea, we find the company’s operation
seat. |
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Sanctions
List |
We
did not find the company included on the various international sanctions
lists, such as the OFAC (Office of Foreign Assets Control), the BIS (Bureau
of Industry and Security), the European Union Restrictive measures
(sanctions) list, the Export Control Organisation (ECO) of the UK, the
Australian Department of Foreign Affairs and Trade. |
Financial
Information
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No
financial information for this company. |
Current
Directors
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Name |
Gender |
Address Date of Birth |
Position |
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Abhishek
Chaturvedi |
Unknown |
H.
No. 478 Maholi Ki Pour, Near New 1981-12-15 Kotwali, Uttar Pradesh, India |
Director
(2015-10-15) |
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Gagan
Chaturvedi |
Unknown |
Po
Box 32, Port Moresby, National 1986-01-04 Capital
District, Papua New Guinea |
Director
(2015-10-12) |
Previous
Directors
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No
previous directors for this company. |
Share
Capital Structure
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Nominal Share
Capital 25.000 |
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Issued Share Capital 25.000 |
Shareholders
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Shareholder |
Address |
%
Shares Held |
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MILSTAR
INVESTMENTS LIMITED |
Hong
Kong |
90 |
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Aviral
Ahlawat |
Section 6, Allotment 14, Granville, Port Moresby/National Capital District,
Papua New Guinea |
10 |
Group
Structure
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No
group structure information for this company |
Negative
Information
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Information
on possible legal actions could not be traced. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.76 |
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1 |
INR 90.58 |
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Euro |
1 |
INR 79.96 |
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PGK |
1 |
INR 20.53 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
DNS |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.