Cook Islands : Cook Islands Development Bank Institutional-Strengthening

Strengthened capability of the Cook Islands Development Bank (CIDB) to provide business advisory services and to identify areas where the ABD could increase its lending.  Also providing general advice to the Managing Director, and business advice to and training to displaced public servants wishing to start private businesses.  An Asian Development Bank project.

 

Fiji:  Survey of Financing Needs

Conducted a survey of financing needs of small and medium sized enterprises and the financing requirements of commercial banks, finance and leasing companies, and institutional investors.  Structured an investment fund, to be funded by the IFC, the National Provident Fund and other investors.  An IFC funded project.

 

Fiji/New Caledonia/Tonga: SPREP Finance Working Group evaluation

Assisted in evaluating financial management support of South Pacific Regional Environment Program.  Prepared working papers for Ministerial Meeting including financial evaluation, language services (and cost implications), financial regulations, budgets.  Preparation of working papers for the Special Session of the IGM.  Advised SPREP Director on a range of financial management issues.  Funded by SPREP.

 

Fiji: Review of banking loan portfolios and lending criteria

Two contracts reviewing the quality of loan portfolios and lending procedures.  Required detailed analysis of strengths and weaknesses of economy, and effect of racial tension on lending and repayment.

 

Kiribati: Management Review of the Development Bank of Kiribati

There were two elements to this project:  The first phase was a review of the bank in terms of its lending portfolio, lending procedures, human resources development, computer systems, amount and type of lending to women and people in outer islands, and the need for a development bank inKiribati.  In the second phase of this project our development banking specialist provided management support, training and recommended operational and organizational changes to improve the efficiency of the bank.

 

Kiribati:  South Tarawa Integrated Urban Plans and Program Study

Provided economic and financial analysis for Study. This required consultation with a wide variety of Kiribati organizations, preparation of a commentary on the relative performance of the Kiribati economy in a South Pacific context and current economic trends, an evaluation of Kiribati government agencies’ capacity to finance urban development and water /waste-water privatization opportunities, development of proposals to strengthen the institutional capability of the Public Utilities Board, preparation of a budget for a recommended “Urban Development Program”, economic and financial analysis of the program budget including a review of ability to pay and willingness to pay issues and preparation of a project financing plan.  An Asian Development Bank project.

 

Kiribati: Management Review of the Development Bank ofKiribati

There were two elements to this project, firstly a review of the bank in terms of its lending portfolio, lending procedures, human resources development, computer systems, amount and type of lending to women and people in outer islands, and the need for a development bank inKiribati. In the second phase of this project our development banking specialist provided management support, training and recommended operational and organizational changes to improve the efficiency of the bank.

 

Kiribati: Survey of Financing Needs

Conducted a survey of financing needs of small and medium sized enterprises and the financing requirements of commercial banks, finance and leasing companies, and institutional investors.  An IFC project.

 

Marshall Islands:  Survey of Financing Needs

Conducted a survey of financing needs of small and medium sized enterprises and the financing requirements of commercial banks, finance and leasing companies, and institutional investors.  Structured an investment fund, to be funded by the IFC, the National Provident Fund and other investors.  Funded by the IFC.

 

Marshall Islands:  SME Survey.

A comprehensive survey of SME activities.  A UNDP project

 

Micronesia:  Survey of Financing Needs

Conducted a survey of financing needs of small and medium sized enterprises and the financing requirements of commercial banks, finance and leasing companies, and institutional investors.  An IFC funded project.

 

New Zealand: Airways Modernization Project

Acted as Financial Adviser to evaluate financing proposals associated with modernizing the Airways Corporation ofNew Zealand(a newly created State Owned Enterprise).  Admiralty reviewed the twenty financing proposals that were presented, with the technical proposals by each of the tendering contractors. In addition we performed a comparative analysis of the financial aspects of each tenderer’s submission, advised on treasury products available to hedge foreign exchange and interest rate risks, and negotiated final terms with contractors and bankers.  Admiralty ultimately structured, organized, negotiated and closed a unique and sophisticated NZ$65 million funding package that enabled the Airways Corporation to raise funds at less than half the market rate.

 

New Zealand:  Film Financing

Have financed a number of feature films, including Lost Valley, Wild Blue, Kids World.  Acted as Executive Producer for the last two.  Now in the process of financing several more films.  Structuring and placing equity for a number of film pre-production companies.  Done in cooperation with Daybreak Pictures, Ltd., ofNew Zealand.  Acting of Manager of Film Finance and Development NZ Ltd, a specialist lender to film finance.

 

New Zealand: Stage Production

Structured and advised on the financing of Joseph and his Technicolor Dream Coat, a play by Andrew Lloyd Weber, which played inHong Kong,Singapore,Australia andNew Zealand, in cooperation with Ascot Ventures, Ltd. and the Really Useful Group, Ltd.

 

New Zealand:  Initial Public Offering of Crown Property Assets

Admiralty acted as advisors to the Minister of State Owned Enterprises, the Minister of Finance and the Crown Coordinating and Monitoring Agency on the IPO of property assets owned by Government Property Services.  This entailed a full due diligence on the IPO process, including a review of structuring options, price setting mechanisms, as well as legal, accounting, and marketing issues.

 

New Zealand:  Property Development

Engaged by Arklow Ltd., a property development company to advise on the structuring and finance of a large island for mixed residential, commercial and light industrial use.  This is the largest property development inNew Zealand, located onMatakanaIsland, near Tauranga.

 

New Zealand:  Survey of Debt Restructuring Alternatives

The Wellington Area Health Board lost the support of a Government guarantee on their borrowings, as a result ofNew Zealand’s economic reforms.  Admiralty was engaged to survey the alternatives available both for existing debt and new debt.  We reviewed the legislation regarding the financing powers of area health boards, examined the proposals they had been presented with, and built detailed computer models to simulate the various alternative possible financial structures.  In addition, we performed a comparative analysis of the financial aspects of each tenderer’s submission, advised on treasury products available to hedge foreign exchange and interest rate risks, and negotiated terms with contractors and bankers.

 

New Zealand:  Structuring Capital Asset Financings using Cross Boarder Leases.

This was a review of capital assets financing options for the New Zealand Defence Force in the light of budgetary constraints.  Admiralty International carried out an analysis of the use of cross border leases and structured an optimum lease mechanism.  We performed a detailed review of legislation and other regulations pertaining to the Defence Force with a particular emphasis on the options available to finance their capital assets.  A thorough financial analysis of the New Zealand Defence Force, as well as a detailed review of international tax regimes, enabled us to recommend an efficient structure.  We identified suitable ships for leasing and provided a list of suitable ships.

 

New Zealand:  New Zealand Development Trust Fund

The New Zealand Development Trust Fund was established to provide capital to assist business growth and regional projects throughoutNew Zealand.  We have acted as financial advisers to the Trust’s managers, the New Zealand Enterprise Board, since assisting them in their draft of a prospectus.  Admiralty International was required to ensure the prospectus met the investment requirements of domestic and international investors, and to supervise legal work to ensure that the fund complied with the securities laws of this country.

 

New Zealand: Privatization of Prisons

Admiralty acted as financial advisors to the NZ Ministry of Justice in considering the possibility of contracting to private providers of prison services for a turnkey build, own and operate (BOO) contact for the Mt. Eden Remand Prison inAuckland.  We evaluated financial offers submitted by tenderers and advised the Ministry on each.

 

New Zealand:  Navigational System Replacement Project

Admiralty International assisted Airways Corporation to finance the replacement ofNew Zealand’s air navigation aids.  We performed a cost benefit analysis of several engineering solutions, structured a private placement of $21 million in debt, documented, and closed the transaction.  We evaluated financial submissions of tenderers, structured optimum financial packages suited to each tenderer, developed cash flow projections and sensitivity analyses to established borrowing levels, structured, organized, documented and executed private placement bonds, including arranging investors, determining the size, tenor, terms and conditions, issuing margins, and price setting mechanism of the issue, and established the Reserve Bank of New Zealand as registrar to the issue.

 

Papua New Guinea: Survey of Public Service Benefits

Surveyed compensation and benefits of PNG’s expatriate and local civil service, and compared with those of PNG private and NGO sector and with public servant’s benefits in other nations.  Developed and recommended the implementation of a comprehensive and equitable modern compensation structure.  A World Bank Project.

 

Papua New Guinea:  Survey of Financing Needs

Conducted a survey of financing needs of small and medium sized enterprises and the financing requirements of commercial banks, finance and leasing companies, and institutional investors.  Structured an investment fund, to be funded by the IFC, the National Provident Fund and other investors. Recommended structures for facilitating capital formation at SME level.  An IFC project.

 

Papua New Guinea: Feasibility Study of Banking System

Determined the feasibility of establishing a country-wide commercial branch banking system and assisted PNG national government in privatizing the banking industry. Involved identifying and evaluating the assets, loan portfolio, staff, management and branch offices of one of the existing bank systems as a target acquisition. Developed a strategy for negotiating the first foreign banking license to be given to other than an Australian group after the country’s independence. Funded by Bank ofAmerica.

 

Papua New Guinea: Ok Tedi Mining Ltd.

Involved in arranging and placing US$100 million in Government Guaranteed debt as part of the total multi-layer financing of large open cast copper and gold mine. Responsibilities included structuring, arranging and private placement of medium term debt securities guaranteed by the Overseas Private Insurance Corporation of theUnited States.

 

Papua New Guinea: Public Service Restructuring Project

Developed a comprehensive program for restructuring the public service of PNG together with the Department of Finance and Planing.  Project involved analysis and evaluation of existing organizational structure, procedures and practices and developing a practical plan to create increased efficiency and productivity.  A World Bank project.

 

Papua New Guinea: Restructuring of Government-Owned Enterprises

Prepared corporate plan for a government owned commodity corporation to take over the existing activities of the Cocoa Board, the Copra Marketing Board and the Cocoa Coconut Research Institute, and to accelerate cocoa and coconut extension activity inPapua New Guinea.  Plan included budgets, recommendations on organizational structure based on an assessment of opportunities for privatization, technical assistance requirements and implementation process.  Consulted with all affected parties, including smallholders in major cocoa and copra production areas, to ensure proposed strategic direction would be supported by all key interest groups.  Funded by the Ministry of Foreign Affairs andTrade,New Zealand.

 

Papua New Guinea: Feasibility Study for Women’s Credit Scheme

Reviewed operations and management of existing women’s credit schemes in PNG to determine which were most effective.  Identified the policies, structures and procedures which were critical to the success of such schemes.  Designed a women’s credit scheme taking these matters into account.  For Ministry of Foreign Affairs andTrade,New Zealand.

 

Samoa:  Institutional Strengthening of the National Bank

Developed Strategic Plan forSamoa’s only locally owned commercial bank.  Reviewed lending policies and practices.  Developed and implemented improved credit system.  Implemented credit training.  Reviewed bank’s computer system and developed strategy for optimizing use, including generation of useful management reports.

 

Samoa:  Survey of Financing Needs

Conducted a survey of financing needs of small and medium sized enterprises and the financing requirements of commercial banks, finance and leasing companies, and institutional investors.  Structured an investment fund, to be funded by the IFC, the National Provident Fund and other investors.  An IFC project.

 

Samoa:  Development Program Design

Developed project management plan, and recruitment process.  For Volunteer Services Abroad,New Zealand.

 

Samoa: Feasibility Study of Coconut Oil Marketing Organization

Retained by local businesswoman to conduct feasibility study of a marketing and support organization for the Samoan Direct Micro-Expelling (DME) coconut oil industry.  Investigated the market opportunities for cold-pressed virgin coconut oil produced at village level.  Interviewed producers, bankers, lawyers and local businesspeople, and conducted international survey of niche marketing opportunities.  Part-funded by New Zealand Ministry of Foreign Affairs and Trade.

 

Samoa:  Review of the Western Samoan Small Business Enterprise Center

This mid-term review of theSmallBusinessEnterpriseCenterincluded a review of existing lending institutions/programs in the South Pacific.  It required consultation with SME operators, bankers, donor agencies, government officials, NGOs, chambers of commerce, accountants and lawyers to identify needs of small business inSamoa, including credit needs.  It recommended increased co-ordination between funders to eliminate duplication, innovative methods of rural business assistance provision, greater involvement of local businesspeople and NGOs in SBEC operation, and ways of overcoming regulatory, lending and cultural barriers to SME success inSamoa.  ForNew ZealandMinistry of Foreign Affairs and Trade.

 

Samoa: Review of Banking Loan Portfolios.

Reviewed the quality of loan portfolios and lending procedures.  Analyzed how to lend and ensure security where land is under customary title and cultural issues affect loan repayment.

 

Samoa: Staff Recruitment and Selection Training

Developed and presented training material for selection skills a workshop for senior civil servants.  For Ministry of Foreign Affairs andTrade,New Zealand.

 

Samoa:  South Pacific Regional Environment Programme (SPREP)

Assisted with the preparation of Working Papers for presentation to the 1992 SPREP Intergovernmental Meeting covering integrated SPREP Work Program, budget documents, financial regulations for the administration of SPREP,Apiaand SPREP Conventions.  Assisted the SPREP Secretariat in implementing the directives in respect of new financial management policies given to the SPREP Director by the Fifth SPREP IGM.

 

Samoa: Women’s Micro-Credit Project

Reviewed how far Samoan financial sector met needs of women, identified most commercially viable industry sectors, identified opportunities and constraints to women’s enterprise.  Used findings to design a support program with an emphasis on micro-credit.  For the Asia Development Bank.

 

Solomon Islands:  Technical Assistance to Ministry of Trade, Commerce and Industry

Managed Business Development, Co-operative Development and the International Trade Divisions of the Ministry of Trade, Commerce and Industry.  Advised the Minister and Permanent Secretary on technical issues related to external trade, internal trade and commercial development, and supervised the development of operational plans and monitoring performance against these.  Funded by the Government ofNew Zealand.

 

Solomon Islands: Feasibility Study for Small Business Center

Reviewed of need forSmallBusinessCenterinSolomon Islands, together with planning how it should be established (staffing, office, management systems).  A New Zealand Ministry of Foreign Affairs and Trade project.

 

Solomon Islands:  Survey of Financing Needs

Conducted a survey of financing needs of small and medium sized enterprises and the financing requirements of commercial banks, finance and leasing companies, and institutional investors. Recommended structures for facilitating capital formation at SME level.  An IFC project.

 

Tokelau: Feasibility Study for Women’s Craft Project

Undertook feasibility study to identify needs of women craft producers.  Assessed opportunities and constraints to production and marketing, cultural and traditional considerations, environmental issues, gender issues, availability of key resources including credit, support services, shipping.  For the Ministry of Foreign Affairs andTrade,New Zealand

 

Tonga: Review of the Development Bank ofTonga

Our review team examined the Bank’s lending portfolio and operations in light of requests for equity from the New Zealand Government.  The team negotiated agreement to a targeted package of assistance to the Bank, which although substantially less than requested, was accepted as generous support in light of the results of the review.

 

Tonga:  Survey of Financing Needs

Conducted a survey of financing needs of small and medium sized enterprises and the financing requirements of commercial banks, finance and leasing companies, and institutional investors.  Recommended structures for facilitating capital formation at SME level.  Project funded by the IFC.

 

Tonga:  Tonga Development Bank Institutional-Strengthening

Established a lending, loans monitoring and business advisory service at the Tonga Development Bank.  Included providing business advice to a wide range of businesses including hotels and transport operators, monitoring all larger TDB loans, designing systems for, and training staff in, loan appraisal and monitoring.  Also involved helping improve the legal action system, and promoting the formation of the Tonga Society of Accountants.  For the Ministry of Foreign Affairs andTrade,New Zealand

 

Vanuatu:  Survey of Financing Needs

Conducted a survey of financing needs of small and medium sized enterprises and the financing requirements of commercial banks, finance and leasing companies, and institutional investors. Recommended structures for facilitating capital formation at SME level. Funded by the IFC.