Asif Malhi CPA CTP CA

The diversified Group of Companies which is vertically integrated multi-discipline construction, engineering, real estate, petroleum trading and industrial group of companies.

The Group has Turnover of AED 1.1 B and employs over 3000 staff.

Reporting directly to Group CEO and my responsibilities include,

Managed Group’s Finance, Treasury and Tax function (VAT) with 32 staff members,

 Development and implementation of Financial Strategy in collaboration with management to achieve Group’s corporate objectives and its alignment with tactical and operational plans.
 Strategic Financial Planning & Analysis, Budget preparation (BP/EG), LRP, Financial Projections and leadership reporting.
 Business Transformation Initiatives in collaboration with management including developed cost reduction plans, internal restructuring, merging businesses, diversified new investments and new ERP implementation and contribution margin maximization.
 Presented the Group’s Financial results to Board of Directors (BOD) including Board Packs, MIS, Budgets, Forecast (EG)
 Maintained and nurtured banking relationships
 Managed debt restructuring, refinancing, negotiated covenants based on LRP and pricing of AED 450 M and arranged AED 200 M new Term Loan.
 Optimized capital structure to minimize weighted average cost of capital (WACC) by refinancing the debt, entering into Interest Rate Swaps (Fixed for Floating) IRS/PRS agreements (ISDA) and issuing / reselling equity.
 Managed increase in Group’s EBIDA by AED 21 M by working in collaboration with management / business units’ heads.
 New Projects financial due diligence and ongoing projects effective financial performance management to achieve the target profits & KPIs.
 Developed cost reduction, internal restructuring and contribution margin maximization plans and their implementation resulted in AED 8 M addition to net profit.
 Treasury function including Cash forecasting, short term liquidity and investment management
 Managed monthly, quarterly, year-end IFRS based Consolidated Financial Reporting of the Group and External Audit.
 Lead in developing, implementing, maintaining comprehensive systems & controls, Policies & Procedures, SOPs to ensure effective internal controls are in place.
 Fixed Assets, managed Insurance (Property, Liability, CAR & BI) arrangements including submittals and renewals
 Monthly Financial Statements analysis and presentations including trend and budgets variance analysis, performance measurement to ensures KPIs are achieved or updated keeping in view market conditions.
 Evaluated and advised on the impact of long-range planning, introduction of new programs/strategies.
 Establish and maintain strong relationships with senior executives to identify their needs and seek the full range of business solutions.
 Effective collection and working with legal team for recovery of ARs in litigation.
 Provided recommendations to strategically enhance financial performance and business opportunities.

The Group has Turnover of AED 1.1 B and employs over 3000 staff.
Reporting directly to Group CEO and my responsibilities include,
Managed Groups Finance, Treasury and Tax function (VAT) with 32 staff members,
• Development and implementation of Financial Strategy in collaboration with management for Strategic Financial
Planning to achieve Groups corporate objectives and aligned tactical and operational plans with it.
• Financial Planning & Analysis, Budget preparation (BP/EG), LRP, Financial Projections and leadership reporting.
• Business Transformation Initiatives in collaboration with management including developed cost reduction plans, internal
restructuring, merging businesses, diversified new investments and new ERP implementation and contribution margin
maximization.
• Presented the Groups Financial results to Board of Directors (BOD) including Board Packs, MIS, Budgets, Forecast (EG)
• Maintained and nurtured banking relationships
• Managed debt restructuring, refinancing, negotiated covenants based on LRP and pricing of AED 450 M and arranged
AED 200 M new Term Loan.
• Optimized capital structure to minimize weighted average cost of capital (WACC) by refinancing the debt, entering into
Interest Rate Swaps (Fixed for Floating) IRS/PRS agreements (ISDA) and issuing / reselling equity.
• Managed increase in Groups EBIDA by AED 21 M by working in collaboration with management / business units heads.
• New Projects financial due diligence and ongoing projects effective financial performance management to achieve the
target profits & KPIs.
• Developed cost reduction, internal restructuring and contribution margin maximization plans and their implementation
resulted in AED 8 M addition to net profit.
• Treasury function including Cash forecasting, short term liquidity and investment management
• Managed monthly, quarterly, year-end IFRS based Consolidated Financial Reporting of the Group and External Audit.
• Lead in developing, implementing, maintaining comprehensive systems & controls, Policies & Procedures, SOPs to ensure
effective internal controls are in place.
• Fixed Assets, managed Insurance (Property, Liability, CAR & BI) arrangements including submittals and renewals
• Monthly Financial Statements analysis and presentations including trend and budgets variance analysis, performance
measurement to ensures KPIs are achieved or updated keeping in view market conditions.
• Evaluated and advised on the impact of long-range planning, introduction of new programs/strategies.
• Establish and maintain strong relationships with senior executives to identify their needs and seek the full range of
business solutions.
• Effective collection and working with legal team for recovery of ARs in litigation.
• Provided recommendations to strategically enhance financial performance and business opportunities.

Dubai South DWCC / (DACC), Dubai, UAE 2015 To Present
Group Director Finance / CFO

DACC is a Holding Company with annual turnover was AED 10.4 billion and had asset base of AED 94.0 billion (2019).
DACC and its below subsidiaries are 100% owned by the Government of Dubai,
 Dubai World Central Corporation (DWCC / Dubai South (DS))
 Dubai and Al Maktoum International Airports (DA and AMIA)
 Dubai Aviation Engineering Projects (DAEP)
 Dubai Air Navigation Services (DANS) and other subsidiaries within above entities.

The Group has diversified portfolio including Airport Operations, Management, Planning, Design and Construction of Airports, Real Estate, Property Development, Free Zone operations, District Cooling, Aviation, Logistics warehousing, Hospitality, Residential Projects, BTS facilities, Leasing of assets and Energy Projects.

Reporting directly to Group CFO - Corporate as a senior management member and my responsibilities include,

 Working at Holding Company to ensure achievement of corporate strategic goals, plans, growth and profits of group entities.
 Financial Planning & Analysis, Budget preparation (BP/EG), LRP, Financial Projections and leadership reporting
 Analyzed feasibilities, developed Financial Models of Real Estate developments at DWCC and provided recommendations based on sensitivity and SWOT analyses including rationality of assumptions
 Short term liquidity and investment banking relationships management & banking cost control
 Maintained and nurtured banking relationships
 Negotiated & arranged AED 3.4 billion bank financing facilities for real estate and infrastructure projects at DWCC
 Recently re-structured financing facility of AED 900 million for real estate projects to align it with projects’ cash flows
 Participated in preparation of Strategic Financial Plan and Funding strategy for Al Maktoum International Airport (AMIA)
 Worked with Group CFO in syndicated bank financing arrangement of first tranche of USD 3.0 billion (AED 11 billion) for Al Maktoum International Airport (AMIA), (total AMIA project cost USD 35 billion).
 Reviewed funding requirements for ongoing airport projects and dealt with banks to secure the financing
 Participated in Dubai Airports projects feasibility studies, Strategic Financial Plans and arranged AED 5.7 billion bank financing for Dubai Airports expansion and upgradations projects
 Reviewed construction contract from finance perspective as per delegation authority
 Arranged AED 550 Million Profit (Interest) Rate Swaps (PRS / IRS) fixed for floating (under ISDA agreement).
 Arranged bank financing of AED 400 Million by funding the projected Escrow releases of Emaar South JV
 Debt maintenance, covenant compliance reporting and monitoring / suggesting actions based on BP /LRP
 Communicated with Department of Finance (DOF) - Government of Dubai for reporting and approvals
 Participated in establishing the SPVs for financing, development and sale of Real Estate Assets of DWCC
 Projects (Capex/AFE) appraisal (using DCF & Non DCF techniques), SWOT & Sensitivity analysis and feasibility study
 Monthly financial analysis and presentations including trend and variance analysis of budget & financial statements
 Financial Modeling, developing financial models for business planning, evaluation of projects and financial due diligence
 Liaised with external auditors & Government auditors (GIARA, FAD) for audits
 Developed systems and procedures for Accounts Receivables effective Management through ERP customization
 Insurance (Property, Liability, CAR & BI) arrangements including submittals and renewals
 Finance lead in implementing SAP at Holding company and group entities level
 Developing, implementing and updating Internal Controls, Finance & Treasury policies, processes and procedures
 Provided financial, commercial & strategic information to the senior management for decision making

DACC is a Holding Company with AED 10.4 billion had 94.0 billion
DACC and its below subsidiaries are 100% owned by the Government of Dubai,
• Dubai South (DS) / (formerly Dubai World Central Corporation (DWCC)
• Dubai and Al Maktoum International Airports (DA and AMIA)
• Dubai Aviation Engineering Projects (DAEP)
• Dubai Air Navigation Services (DANS) and other subsidiaries within above entities.
The Group has diversified portfolio including Real Estate, Property Development, Free Zone operations, District Cooling,
Logistics warehousing, Hospitality, Residential Projects, BTS facilities, Leasing of assets, Aviation district, Management
(together with Planning, Design and Construction) of Airports, and Energy Projects.
Reported directly to Group CFO - Corporate as a senior management member and my responsibilities included,
• Developed & Implemented Financial Strategies in collaboration with Management for Strategic Financial Planning.
• Worked at Holding Company and Dubai South to ensure achievement of corporate strategic goals, plans, growth and

EITS Inc., Houston, TX, USA 2010 To 2015
Chief Financial Officer (CFO)
The EITS is a leading software developer and IT solution provider company with annual turnover of US$ 1.6 billion for 2014,
Reported directly to CEO and my responsibilities included,

 Managed company’s Finance department / function including income and sales tax (VAT)
 Assisted CEO in strategic matters including developing & updating Strategic Corporate Business Plan (EGs)
 Financial Planning & Analysis, Budget preparation (BP/EG), LRP, Financial Projections and leadership reporting
 Monthly financial analysis and presentations including trend and variance analysis of budgets & financial statements
 Financial Modeling, developed financial models for business planning, evaluation of projects and M&A due diligence
 Prepared monthly reports, presentations, performed financial analysis for executive committee/ BOD / leadership
 Cash flow forecasting (rolling basis 13 weeks) including modeling and sensitivity analysis
 Short term liquidity and investment banking relationships management & banking cost control
 Cash flows management to ensure funding of business plan and working capital requirements
 Cash management, bank accounts management including ZBA structure & bank account update under SEPA
 Maintained and nurtured HY investor and banking relationships
 Managed debt structuring, pricing and negotiation and arranged Syndicated loan (TLA) of USD 350 MM for Project Financing & USD 150 MM as a Revolver loan
 Issued $450 MM Sr. Unsecured Notes (bonds)
 Worked with legal and investor relations teams in the bond issuance due diligence process including Information Memorandum, Registration, Arranger advisor, Rating agency, Trustee, SEC matters, and road shows etc.,
 Debt covenant compliance reporting and monitoring / suggesting actions based on business plan /LRP
 Arranged $250 mm Interest Rate Swaps fixed / floating
 Optimized capital structure to minimize weighted average cost of capital (WACC)
 Worked intra and intercompany departments to gather information for Financial Planning & Analysis
 Managed IFRS & GAAP based monthly, quarterly and year-end financial statements preparation and their consolidation
 Performed various financial analyses including M&A, lease vs buy, share repurchase, bond redemption, ECF etc.
 Arranged corporate credit rating updates, press releases and relating to new debt issuance
 Evaluated exposures and arranged insurance (Property, Liability & BI) submittals and renewals
 Evaluated various debt / financing / refinancing alternatives including term loan A (TLA), asset based lending (ABL), term loan B (TLB/Cov- lite), and recommended for the best strategy keeping in view LRP
 Evaluated FX exposure and arranged FX hedging and completed bank documentation including ISDA agreements etc.
 Evaluated and implemented FireApps FX hedging and treasury models
 Arranged FX trades via Bloomberg to ensure competitive FX rate for trades and options pricing for FX hedging
 Developed new business planning process using SAP data with BPC & BPA
 Developed, implemented and updated Finance & Treasury policies, processes, procedures and internal controls
 Projects (Capex / AFE) appraisal (using DCF & Non DCF techniques), SWOT & Sensitivity analysis and feasibility study
 Liaised with external auditors for audits and internal audit department for SOX compliance
 Managed / Liaised (with tax advisor) company’s all income tax and sales tax matters etc.
 Provided financial, commercial & strategic information to the senior management for decision making

profits of group entities.
• Strategic Financial Planning & Analysis, Budget preparation (BP/EG), LRP, Financial Projections and leadership reporting
• Presented the Groups Financial results to Executive Committee (EC) including EC Packs, MIS, Budgets, Forecast (EG)
• Recommended and implemented change of business model from land lease to BTS lease resulted in multimillions
addition to profit and assets base.
• Financial Modeling, developing financial models for business planning, evaluation of projects and financial due diligence
• Analyzed feasibilities, developed Financial Models of Real Estate and Commercial developments at DWCC and provided
recommendations based on sensitivity and SWOT analyses including rationality of assumptions
• Short term liquidity and investment management & banking cost control
• Maintained and nurtured banking relationships
• Negotiated & arranged AED 3.4 billion bank financing facilities for real estate and infrastructure projects at DWCC
• Reduced financing cost by 0.65% resulted in average saving of AED 18 million p.a. approx. thus lowering the WACC
• Re-structured financing facility of AED 900 million for real estate projects to align it with projects cash flows due to Covid.
• Participated in preparation of Strategic Financial Plan and Funding strategy for Al Maktoum International Airport (AMIA)
• Arranged syndicated bank financing first tranche of USD 3.0 billion (AED 11 billion) for Al Maktoum International Airport
(AMIA), (Total AMIA project cost USD 35 billion).
• Reviewed funding requirements for ongoing airport projects and dealt with banks to secure the financing
• Participated in Dubai Airports projects feasibility studies, Strategic Financial Plans and arranged AED 5.7 billion bank
financing for Dubai Airports expansion and upgradations projects, & reviewed construction contract - finance perspective
• Arranged AED 550 Million Profit (Interest) Rate Swaps (PRS / IRS) fixed for floating (under ISDA agreement).
• Arranged bank financing of AED 400 Million by funding the projected Escrow releases of Emaar South JV
• Debt maintenance, covenant compliance reporting and monitoring / suggesting actions based on BP /LRP
• Communicated with Department of Finance (DOF) - Government of Dubai for reporting and approvals
• Participated in establishing the SPVs for financing, development and sale of Real Estate Assets of DWCC
• Projects (Capex/AFE) appraisal (using DCF & Non DCF techniques), SWOT & Sensitivity analysis and feasibility study
• Monthly financial analysis and presentations including trend and variance analysis of budget & financial statements
• Managed Monthly, quarterly and year-end IFRS based Consolidated Financial Reporting of the Group.
• Liaised with external auditors & Government auditors (GIARA, FAD) for audits.
• Developed systems and procedures for Accounts Receivables effective Management through ERP customization.
• Managed Insurance (Property, Liability, CAR & BI) arrangements including submittals and renewals
• Finance lead in implementing SAP at Holding company and Microsoft Dynamics at Dubai South
• Developing, implementing and updating Internal Controls, Finance & Treasury policies, processes and procedures
• Provided financial, commercial & strategic information to the senior management for decision making.

Dubai Silicon Oasis Authority (DSOA), Government of Dubai, UAE 2007 to 2010

Manager Treasury - Finance

The DSOA is a Free Zone Authority (Engineering and Construction, Real Estate Project & Master Developer) & has a portfolio of assets worth USD 4.7 billion (AED 17.3 Billion), 2009, and employs over 500 staff.
 Headed Treasury - Finance department
 Cash flow forecasting (rolling basis) including modeling and its sensitivity analysis
 Short term Liquidity / Cash management, bank accounts management and banking cost control
 Banking relationship management
 Managed debt structuring, pricing and negotiation under both conventional and Islamic structures
 Arranged syndicated bank loan of AED 1.3 billion for infrastructure projects including AED 200 million as Bridge Finance
 Arranged term loans of AED 450 million as Bilateral deals for projects financing

 Financial Planning & Analysis, Financial Modeling, Budget preparation (EG), LRP and Financial projections
 Worked with intra/intercompany departments to gather information for Financial Planning & Analysis
 Coordinated AED 750 million annual EBITDA budget & AED 1.7 billion capital budget /EG
 Developed financial models for business planning and evaluation of projects
 Projects (Capex / AFE) appraisal (using DCF & Non DCF techniques) and SWOT & Sensitivity analysis
 Financial vetting / review of Feasibility studies, sensitivity & SWOT analysis for various projects
 Debt covenants compliance, negotiations and collateral analysis keeping in view the LRP
 Worked with legal teams banks, Arranger advisors, investment and security agents in financing armaments
 Worked with Islamic banking team and sharia advisor for Islamic financing and transaction structuring
 Reviewed monthly financial reporting (MIS), financial presentations, trend and variance analysis of financial statements
 Managed insurance portfolio of AED 4.4 billion property all-risk insurance
 Implemented Cash Management Module of Oracle Financial & used other modules (AP, AR, GL, Inventory, Fixed Assets & Purchasing) for monthly financial / treasury reporting
 Implemented IFRS based accounting functions & worked using Oracle Financial 11i
 Liaised with external auditors & Government auditors for audits
 Coordinated with accounting function for month, quarter and year end closings and financials consolidation
 P & L & balance sheet variance analysis & exception reporting etc.
 Analyzed major contracts from financial risk & return perspective
 Managed developing, implementing & reviewing finance policies, processes, controls with regards to its financial plans
 Provided financial, commercial & strategic information to the senior management for decision making.

• Headed Treasury - Finance department
• Cash flow forecasting (rolling basis) including modeling and its sensitivity analysis
• Short term Liquidity / Cash management, bank accounts management and banking cost control
• Banking relationship management
• Managed debt structuring, pricing and negotiation under both conventional and Islamic structures
• Arranged syndicated bank loan of AED 1.3 billion for infrastructure projects including AED 200 million as Bridge Finance
• Arranged term loans of AED 450 million as Bilateral deals for projects financing
• Financial Planning & Analysis, Financial Modeling, Budget preparation (EG), LRP and Financial projections
• Collaborated with intra/intercompany departments to gather information for Financial Planning & Analysis
• Coordinated AED 750 million annual EBITDA budget & AED 1.7 billion capital budget /EG
• Developed financial models for business planning and evaluation of projects
• Projects (Capex / AFE) appraisal (using DCF & Non DCF techniques) and SWOT & Sensitivity analysis
• Financial vetting / review of Feasibility studies, sensitivity & SWOT analysis for various projects
• Debt covenants compliance, negotiations and collateral analysis keeping in view the LRP
• Collaborated with legal teams banks, Arranger advisors, investment and security agents in financing armaments
• Collaborated with Islamic banking team and sharia advisor for Islamic financing and transaction structuring
• Reviewed monthly financial reporting (MIS), financial presentations, trend and variance analysis of financial statements
• Managed insurance portfolio of AED 4.4 billion property all-risk insurance
• Implemented Cash Management Module of Oracle Financial & used other modules (AP, AR, GL, Inventory, Fixed Assets
& Purchasing) for monthly financial / treasury reporting
• Implemented IFRS based accounting functions & worked using Oracle Financial 11i
• Liaised with external auditors & Government auditors for audits
• Coordinated with accounting function for month, quarter and year end closings and financials consolidation
• P & L & balance sheet variance analysis & exception reporting etc.
• Analyzed major contracts from financial risk & return perspective
• Managed developing, implementing & reviewing finance policies, processes, controls with regards to its financial plans
• Provided financial, commercial & strategic information to the senior management for decision making.

Sitara Chemical Industries Ltd. (SCIL), PK 2004 to 2007

Manager Finance / CFO

SCIL is Chemical Manufacturing (listed) Company & has annual turnover of USD 650 million, (employs over 1400 staff)
Reported directly to CEO and my responsibilities included,
 Managed company’s Finance & Taxation department / function
 Participated in company’s decision making team as a member of the executive committee
 Financial Planning & Analysis, Financial Modeling, Budget preparation (EG), LRP, Financial projections & Var. reporting
 Cash flow forecasting, 3 months on rolling basis, sensitivity analysis and cash management
 Managed and developed banking relationships
 Issued USD 250 MM Islamic Sukuk (Bonds) as a Focal Person through consortium of banks with option of over the counter trading (this was First Private Sector SUKUK Issue in Pakistan)
 Worked with legal, banks, arranger advisor, Trustee, sharia advisor in the SUKUK issuance and due diligence process including Information Memorandum, Registration, CDC, road shows and SEC matters
 Managed debt structuring, pricing and negotiation and arranged syndicated loan of USD 225 million for project financing
 Credit agreement covenants compliance reporting and monitoring based on LRP
 FX exposures evaluation and FX hedging, Business insurance property, liability and BI
 Developed financial models for business planning and evaluation of projects
 Prepared Projects (Capex) appraisals through DCF & Non DCF techniques and their sensitivity & SWOT analysis performance measurement, control & reporting and financial vetting of Feasibility studies
 Managed financial reporting, multi-unit accounts consolidation & liaised with external auditors for PBCs
 Participated in monthly executive committee meetings chaired by CEO to discuss;
- Monthly financial results trend analysis & their comparison with previous periods for performance measurement.
- Current month profit reconciliation with immediately preceding period.
- Production accounts, production standards compliance & efficiency achievements, input costs analysis for cost controlling & future production planning
- Inventory, credit (cash operating cycle), A/C payable & cash flow management.
- Budget comparison with actual results & variance reporting.
- Marketing / Sales related financial issues, future marketing & production strategies for increase contribution margin
 Financially planned and monitored major projects including PVC, BMR, power & expansion projects
 Successfully implemented BMR and expansion schemes as part of Tax planning
 Presented various financial, production yield analysis & efficiency reports to Management
 Managed company sales tax and income tax matters
 Led finance for the implementation of SAP ECC 6.0

Reported directly to CEO and my responsibilities included,
• Managed companys Finance & Taxation department / function
• Participated in companys decision-making as a member of the executive committee
• Financial Planning & Analysis, Financial Modeling, Budget preparation (EG), LRP, Financial projections & Var. reporting
• Presented the Goups Financial results to Board of Directors (BOD) including Board Packs, MIS, Budgets, Forecast (EG)
• Cash flow forecasting, 3 months on rolling basis, sensitivity analysis and cash management
• Managed and developed banking relationships
• Issued USD 250 MM Islamic Sukuk (Bonds) as a Focal Person through consortium of banks with option of over the counter
trading (this was First Private Sector SUKUK Issue in Pakistan)
• Worked with legal, banks, arranger advisor, Trustee, sharia advisor in the SUKUK issuance and due diligence process
including Information Memorandum, Registration, CDC, road shows and SEC matters
• Managed debt structuring, pricing and negotiation and arranged syndicated loan of USD 225 million for project financing
• Credit agreement covenants compliance reporting and monitoring based on LRP
• FX exposures evaluation and FX hedging, Business insurance property, liability and BI
• Developed financial models for business planning and evaluation of projects
• Prepared Projects (Capex) appraisals through DCF & Non DCF techniques and their sensitivity & SWOT analysis
performance measurement, control & reporting and financial vetting of Feasibility studies
• Managed financial reporting, multi-unit accounts consolidation & liaised with external auditors for PBCs
• Participated in monthly executive committee meetings chaired by CEO to discuss;
◦ Monthly financial results trend analysis & their comparison with previous periods for performance measurement.
◦ Current month profit reconciliation with immediately preceding period.
◦ Production accounts, production standards compliance & efficiency achievements, input costs analysis for cost
controlling & future production planning
◦ Inventory, credit (cash operating cycle), A/C payable & cash flow management.
◦ Budget comparison with actual results & variance reporting.
◦ Marketing / Sales related financial issues, future marketing & production strategies for increase contribution margin
• Financially planned and monitored major projects including PVC, BMR, power & expansion projects
• Successfully implemented BMR and expansion schemes as part of Tax planning
• Presented various financial, production yield analysis & efficiency reports to Management
• Managed company sales tax and Corporate Tax
• Led finance for the implementation of SAP ECC 6.0

Provided Audit (external & Internal, Tax and Advisory services to local and multinational clients in banking, Engineering &
construction, oil & gas, manufacturing, chemical and beverages sectors.
Key responsibility areas included to ensure compliance with statutory requirements, internal control analysis, risk
assessment, credit review while performing the various services for KPMG clients.