The Ava Risk Group Limited (ASX: AVA) is a world leader in the provision of risk management technologies and services. Catering to all 6 continents, it provides the leading technology divisions in the world: BQT Solutions and Future Fiber Technologies. Around the world, the company has commercial, industrial, military and government clients who are security guards
AVA provides complementary solutions that include perimeter intrusion detection, biometric control, card access control, pipelines and data networks. AVA focuses on innovation and has a full range of premium services for the intricate and always demanding markets along with technologies.
24thth In May 2019, the company announced that it had signed a US $ 3.5 million agreement with India. The company's FFT Aura Ai-2 product had been chosen as part of a perimeter security update program in India. The program would cover India's major air bases, as a result of its enhanced security environment. The contract is scheduled to begin in Q1 FY20 at 23 military air bases. It would be for a period between 18 and 24 months.
The security system would be integrated and would include "smart fences" where the Aura Ai-2 would be installed along with CCTV cameras, motion detectors, infrared devices, anti-penetration along with thermal sensors and others. This would be supported by surveillance devices and unmanned aircraft.
In a competitive on-site test, Aura Ai-2 was tested with other intrusion detection technologies for buried and chained instantaneous applications. The results of this test showed that it was the only solution that had the ability to meet the client's strict detection requirements, such as cutting and climbing of fences, vehicles, walkers and simultaneous events. The test also met the integration prerequisites and described low nuisance alarm levels.
Commenting on the contract, the company's CEO, Scott Basham, stated that the contract is a representation of the company's powerful platform and continuous improvements are being made since 2017. The Aura Ai-2 is now a market leader with its features and offers.
In its MoD submission to investors in May 2019, the company had stated that AVA, together with SFO, had finalized the contractual terms with India and SFO had received and formally accepted the India Purchase Order. In addition, the value of the license fee has increased, and the company would receive US $ 11.9 million in the next fourteen months. According to the production rate and the current delivery terms, the company expected to receive an income between US $ 0.35 million and US $ 1.0 million in the fiscal year of 19 years and the rest of US $ 11.55 million and US $ 10.9 million in the fiscal year of 20 years.
After the initial 3-year warranty period, additional revenues of US $ 3.4 million were expected, as well as a subsequent seven-year maintenance and replacement contract. The company would be paid within 120 days. It would also take advantage of a benefit from the bank guarantee, which would be equivalent to 20% of the total production volume.
Share price information:
As in 24th In May 2019, the shares of AVA closed the day's transaction at A $ 0.180 in ASX, a 9.091%.
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