Vice President Finance
Nesaj Real Estate Development Company
مجموع سنوات الخبرة :25 years, 7 أشهر
I manage the financial functions of the company and also oversee the financial functions of its 100% owned construction contracting company BCC.
Within a short period I have successfully lead the ERP implementation initiative. My responsibilities include the following:
Oversee the affairs of the accounting department
Develop financial parameters for projects' feasibility reports
Produce Group Consolidation Reports
Budgeting and Strategeering, etc.
Owned by the family owned group of Ghassan Ahmad Alsulaiman, Delta is a Telecom and Construction Contracting company taken over in January 2011 by the Ghassan Ahmad Al Sulaiman (IKEA Saudi Arabia) Group Company. Following are my responsibilities:
Substantially improving Delta’s overall financial management, administrative and compliance affairs as the company is now targeting from under US$3m annual turnover to over US$30m by end 2014, with fresh equity injection from the Group and new bank lines.
Overall financial responsibility and strategic decision-making based on accurate and relevant information.
Responsible for corporate finance and financial management; and developing controls and systems, financial strategy, planning, management accounting reports, cash management, liaising with stakeholders, legal, communication/negotiation with prospective customers, optimization of corporate tax and procurement and overseeing the operations.
Notable Accomplishments:
Effectively revamped the entire accounts department with new software, personnel and policy framework.
Developed a concise and yet highly informative ‘Financial Dashboard’, to analyse each of the scores of projects in hand, and highlight the weak areas, through variance analysis.
Established an MIS department that updates the ‘Financial Dashboard’ and produces stakeholder reports on weekly and monthly basis.
Cleaned the balance sheet from the backlog of bad financial and other assets.
Successfully negotiated new bank lines (project financing and working capital) of over US$6m.
Developed funding structures for each project undertaken, and new policies and procedures manual for the company.
Successfully established accountability and responsibility matrix within the organisation and ensured that the company was able to achieve breakeven in March 2012, and then facilitated steadily rising profits.
Ghassanco is the investment development company of a family owned Group whose flagship company is IKEA Saudi Arabia. My job responsibilities were as follows:
Fulfilled two-fold responsibilities of CFO and Portfolio Manager.
Managed a growing investment portfolio of the group, which also owns IKEA Saudi Arabia. Total assets under management exceed SR1bn and projected to rise to over US$350m in the next 12 months.
Served as member of the ‘Audit Committee’ of IKEA Saudi Arabia, as well as Al Mathaaq - a restaurants holding company - and also acted as a CFO of Delta United, a telecom contracting company newly taken over by the group.
Oversaw the maintenance of accounts of the holding company, preparation of financial statements and management accounts/reports and managed external audit.
Monitored capital and cash budgeting and managed relations with sister and associate companies and bankers.
Provided advice to sister and associate companies on matters relating to accounts, financial management and corporate finance
Oversaw group’s investments in diverse sectors, comprising real estate development, urban regeneration, civil works contracting, venture capital and private equity funds, investment banks, food and beverages, fashion retailing, telecom, hydroponics farming, information technology, etc.
Conducted in-house and outsourced feasibilities/valuations of new projects, and made recommendations along with regular performance evaluations of existing portfolio companies.
Served as an advisory member of the ‘Audit Committee’ and on the Board of Directors of three portfolio companies and provided corporate finance advice.
Drafted investment agreements and term sheets, shareholders’ agreements, Mudaraba agreements, etc.
It is a diverse family owned group, with interests in real estate, trading, manufacturing, serviced offices, etc. Total investments from the Group exceeded US$300m
Reported to the Chairman of the group and headed a team of accountants and investment analysts.
Managed treasury function, as well as capital and cash budgeting exercise for the group and its subsidiaries.
Implemented an ERP on the group and its subsidiary companies.
Developed and managed a comprehensive investment policy for the group.
Produced financial reports and feasibility reports for recommending direct and financial investments of the group.
Regularly analysed performance of group’s portfolio companies and other financial investments.
Notable Accomplishments:
Conducted project valuations for proposed new investments, including Dammam Port management’s privatisation, worth more than SR1bn.
Developed a comprehensive financial model for the leading group company with a total balance sheet footing of SR1.5bn, with diverse activities in the real estate chain. This was a major part of the exercise to convert this largest group company into a ‘Close Joint Stock Company’.
Coordinated with a leading bank and a financial advisory company, to design an open ended real estate investment fund of SR400m. This fund was a mix of Sakuk and equity investments.
Played a major role in developing the feasibility study and information memorandum for an affordable homes development company with a paid-in capital of US$80m.
A Group with diverse interests in newspapers, TV Channels, trading, real estate, etc. My job responsibilities were:
Reported to the CEO and Chairman of this large business group.
Conducted research and feasibility analysis for the group, for making direct and financial investments.
Developed several comprehensive feasibility reports for the group’s investment, with a combined worth of over US$400m. Major reports included an exclusive business TV channel, an exclusive business newspaper with its own printing press together with a weekly magazine relating to the stock market in Pakistan, mega commercial real estate developments, newsprint paper manufacturing setup, etc.
Managed short and long term investments portfolio of the group, amounting to more than US$200m. A high return on investment (ROI) was maintained throughout the tenor.
Wrote regular research reports on fiscal, monetary and capital market developments, which were extensively covered in newspaper articles and TV documentaries.
It is a medium-sized company listed on the Stock Exchange
Reported to the Chairman and the Board of Directors; managed the entire finance department and had the liabilities towards banks worth over US$130m restructured with the banks.
Notable Accomplishments:
Personally negotiated and signed with a leading European brand, with 100% technology transfer.
Negotiated new working capital facilities with project’s financial institutions, amounting to US$110m.
Successfully raised US$75m in private equity from angel investors and a venture capital fund.
IBA Karachi is arguably the best and the oldest business school in Pakistan, whose graduates have risen to the very top positions in Pakistan and abroad. Shaukat Aziz, one of the Prime Ministers of Pakistan, is a graduate of IBA Karachi. Many of the Alumni are CEO's and Presidents of top companies and banks in Pakistan and many have reached top positions in USA, Canada, UK and other developed countries. MBA Program of IBA Karachi is very strenuous and requires a lot of dedication, perseverance and hard work.
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