Head of Finance
Khomasiah International Real Estate Development
Total years of experience :34 years, 6 Months
Khomasiah International Real Estate Development Co. Jeddah, KSA, one of well known Real Estate Developer in KSA, doing a Mega Housing project with Ministry of Housing in the holy city of Makkah.
Responsible for full Finance function and overall manage the procurement process.
Currently working on developing policy and procedures and implementation of new ERP.
Successfully developed project feasibility models.
March 2007 - May 2019 Kinan International Real Estate Development Co. Jeddah, KSA, one of the largest Real Estate Developer in KSA, is a Saudi Joint Stock Co. with a paid-up capital of SAR 1.69 Billion.
Apr-2012 - May 2019 Head of Treasury & Projects Finance
Apr-2010 - Mar-2012 Head of Treasury & Corporate Finance
Mar-2007-Mar 2010 Director Accounting & Treasury
Area(s) of Experience: Accounting, Overall Management of Projects Finance Function, Treasury, Risk Management and Corporate Finance, Support CFO / CEO in decision making
Achievements:
Structured, negotiated and finalized several deals of Islamic Financing amounting more than SAR 4 Billion at very competitive pricing and terms.
Successfully restructured facilities for the projects having difficulties in repayment and for the facilities have issues in compliance of covenants.
Developed various models in excel including projects feasibilities, cash flow forecast and Five year plan.
Introduced long term cash flow forecast which is updated on regular basis and it is being used as a decision making tool for future decisions by lead team, investment committee and other decision making bodies in the company.
Successfully implemented costing system of the residential units, cost allocation to the development properties and accounting & auditing for off plan sales projects.
Improved cash visibility by introducing weekly cash position
Introduced and implemented cash pooling among subsidiaries and managed companies resulted in better liquidity position and savings in financial cost
Set up Escrow Accounts with the banks for real estate off plan sales and our Company was the first in Kingdom who completed the full cycle i.e. establishing the escrow account to final closure.
Lead a successful initiative of shifting company’s Insurance policies through a brokerage house resulting in better coverage and substantial savings in Insurance costs.
a company involved in imports and distrbution of car
accessories and general items owned by Alireza Group.
Key Accomplishments:
Successfully implemented ACCPAC accounting system and POS software for the retail outlets.
Negotiated and finalized bank facility for the Company
Prepared Accounting procedure and policies and participated in completing the companies Policies & Procedure
manual.
a company involved in manufacturing of foam, real estate management,
car rental and other investments.
Key Accomplishments:
Modified the existing accounting system
Developed and implemented costing and inventory valuation system in the manufacturing companies.
Developed/improved financial policies and procedures.
Successfully took care of Material management department of two foam manufacturing companies
Key Responsibilities:
Major responsibilities other than maintaining proper books of accounts and timely closing of books were
as follows:
Management of Company’s Investments, especially in overseas stocks
Consolidation of subsidiary accounts and Finalize the Holding Company Financial Statements
Review the prices of the products on regular basis and provide management analytical reports
Cash management
National Air Service, 1st
private airline in Saudi Arabia owned by Prince Sultan and other High profile
Shareholders
Key Accomplishments:
Set up an accounting system including flight costing system, Inventory control system for the spare parts
Developed a pricing structure
Fully involved in the Development of Company policies and procedures
Key Responsibilities:
I was responsible for the entire Accounting section, including General Ledger, Accounts Payable, Accounts
Receivable, Invoicing, Payroll and crew expense reimbursements, Finalization of Accounts, Analysis of financial
statements, Analysis of flight costs and variances from standard and reasons for the variances and explanation
thereof. Preparation of Presentations for Investors and Board of Directors.
Developed and implement complete costing system for the valuation of finished goods and inventory.
Developed a model in excel for calculating cost of sales of finished goods, which is still in use at Afia
International.
Reduced the monthly closing cycle time from six days to two only.
Played active role in achieving MRPII CLASS 'A' Certificate for the company in June 1997.
Key Responsibilities:
Credit Control
Cost & Budgetary Control
Inventory planning and control
Timely closing of books and finalization of accounts including the consolidation of subsidiaries
Budgeting. Forecasting and strategic planning
Group Reporting
Consolidation of local and overseas subsidiaries accounts
Assist management in taking decisions like price change, project evaluation, prices for new markets, purchasing
of raw materials etc.
a fully owned subsidiary of F.Hoffmann La. Roche Company, Basle
Switzerland.
Key Accomplishments:
Successfully recovered a claim of more than PKR 10 from State Bank of Pakistan overcharged on account of
exchange risk fee on an overseas long term loan.
Key Responsibilities:
Treasury Operations
Cost & Management Accounting
Group Reporting
Tax & Corporate Affairs
Payroll
the Only authorized distributors of Upjohn Pharmaceuticals
distributors in Pakistan.
courses: Qualified Cost and Management Accountant (CMA)