Mohammad Riffat Chaudhry

VP (Finance & Operations) at Global Orbit Trading Company

• Saudi Arabia - Dammam
• My current job since January 2017

Global Orbit Trading Company is a Trading Company involved in import and distribution of olive, cheese and pickles. However, the volume of the business was not justified to meet the expense base of the company for reasons. Therefore, we decided to boost up the turnover of the company by developing business of the company by adding new products to the line of business like Rice from India, Sugar from India & UAE, Cocking Oil from Malaysia and pulses from UAE & Canada. We successfully increased the turnover approximately by 36.58% compare to 2016 which is reflected in the audited financials of the company. We also solicit a Singapore based Multinational dealing in Rice (in India) and cocking oil to establish a Joint Operation whereby they will send the Rice & Oil on CAD basis and inventory will be managed by third party under CMA (Collateral Management Agreement), however, it could not be materialized because their first consignment of 35x20’FCL stuck on the port due to non-payment of duty & vat and consequently huge demurrage expenses are incurred due to financial problem of the company.

The company was submitting its audited financials after six to seven months of the closing of the financial year and from 2017 we started submitting it within 60 days from the end of the financial period and as well as in-House periodical financials whenever demanded by the company. I established a strong vendor base and a strong team of salesmen to sell the imported merchandises maximum at CASH to avoid any liquidity problem. Today we have more than 300 customers across the country who are end users of our products and mostly are restaurants.

Achievements:
1. Solicit Credit Facilities of SR.5, 000, 000 for Purchase Financing without any collateral only based on the presentation of the case.
2. Successfully changed the tenor of facilities available with Bank Al Jazirah & NCB to 270 days from 180 days to match the cash cycle of the company and to improve the Cash Flow of the company.
3. Establish a strong base of vendors who can supply Rice, Sugar, Cocking Palm Oil, Pulses from India, UAE and Canada and subsequently increase the turnover of the company.
4. Built a good team of salesmen and boost the sales which has increased the turnover by 36.58% over 2016 just in six months of Operation because commodities division started in July 2016 and from local suppliers & vendors.
5. Establish credit lines with local suppliers like Jameel Int’l, Shalaan and Al Sehati on credit basis.
6. Negotiated and finalized a JV agreement with MOI International Singapore to establish a JV under SAGIA with the Global Orbit Trading Company, however, its not materialized due to certain issues. However, MOI International agreed to transact one piece of business of 25x20’FCL on DA-45 days basis as a Trail and goods are now on Dammam Port.
7. Solicit and agreed other suppliers to import from them on 120 basis against L/Cs for almost all the vendors.

Finance Manager at Sultan Said Al Zahrani Est For Trading

• Saudi Arabia - Dammam
• January 2019 to May 2021

Group Financial Controller at Badr Al Sahra For Contracting & General Trading Co. Ltd

• Saudi Arabia - Dammam
• September 2013 to December 2016

 Managed staff of 12 and accessed & implemented the finance organization structure to support the group’s construction, trading, mining and manufacturing business to improve the individual company’s financial position and as well as overall financial performance of the group. This included cost effective right sizing and increased productivity & profitability.
 Acquired financial resources / credit facilities from the local banks and SIDF to fund the new construction projects, mining business and for Steel Fabrication Factory; restructured primary banking lines to improve cash flow of the group and successfully reduced interest rates & relevant pricing of banking products.
 Improved liquidity of the group by implementing budget control system & its monitoring and developed numerous forecasting models to examine group company’s projected short- and long-term growth based on key indicators, sales projections, cash flow analysis, valuation, assets, liabilities, and credit risks.

VP (Finance & Accounts) at Matjar Al Watany Est.

• Saudi Arabia - Khobar
• June 2010 to July 2013

 Successfully brought the structural and process changes to the functional areas of treasury, cash flow and financial reporting. Improved the process of budgeting & forecasting and management reporting and managed staff of 10.
 Increased Revenues more than 100% and increased the number of stores countrywide from 28 to 38 in three years.
 Acquired Financial Resources from Banking Community to support the business plan & expansion of branches network.
 Improved monthly closing from 45 days to 12 days and achieved balance sheet credibility by implementing accounting policies & procedures and implemented an annual budget process that supported a 5-years business plan.
 Track and review sales group’s performance, examining revenue trends and assessing market conditions on weekly basis and created numerous tools to help Matjar Alwatanny accurately assess operational requirements and improve financial forecasting.
 Improved sales of key product 125% by creating analysis model which correlated sales data based on marketing and advertising expenditures per region.

Finance Manager at ALYAF Industrial Company

• Saudi Arabia - Dammam
• November 2008 to May 2010

 Increased gross and net profitability by successful controlling the cost of raw material and direct labor in the production with close coordination with production management.
 Successfully reduced the pricing of all insurances, including plant & machinery & business, keeping in consideration the down side risks and its mitigation and successfully reduced the pricing of primary banking line and relevant banking products.
 Controlled the cash flows and reduced the outstanding loans with close coordination with the Sales & Procurement teams and reduced the interest expenses. Gained SR. 6 million additional profitability successfully by re-negotiating the price of raw materials.
 Maintained budgets, oversaw Accounts Receivable/Payable, prepared balance sheets, detailed costs, and reconciled bank transactions.

Financial Controller at Al Bayan Group Holding Company

• Saudi Arabia - Riyadh
• July 2007 to October 2008

 Successfully acquired the Project Financing of SR. 350 million for a SR. 850 million telecom projects awarded by the Ministry of Interior & raised lease financing for the fleet of refrigerated container trucks for the group company.
 Prepared a business case & feasibility studies for the Shopping Mall advertising concept and raised vendor financing for the required equipment.
 Improved the Cash Flow Cycle by close monitoring of collections and improved the liquidity.
 Managed 8-person team in financial planning, budgeting, accounting, and financial reporting.
 Financial Reports of group Companies and Consolidation.

Treasury Manager at Integrated Telecom Company Limited

• Saudi Arabia - Riyadh
• December 2005 to January 2007

 Successfully acquired the syndicated long term loan facility and made the draw downed SR. 950 million long terms syndicated loan lead by Bank Saudi Al Fransi and managed the CISCO-vendor financing of SR. 200 million.
 Continuous counselling of the senior management on expansion projects by using different financial modelling including capital budgeting.
 Successfully raised the consumer financing for the staff of the company.
 Implemented the Oracle Treasury module and automated all the Treasury functions and implemented reporting of weekly monitoring of financial results versus the budget and submission of detailed variance reports.

VP (Finance & Accounting) at KANAL Corporation

• Saudi Arabia - Riyadh
• October 2001 to August 2004

 Successfully acquired the project financing for all the projects awarded to the company from STC & Siemens and acquired vendor financing from local and international vendors at attractive terms.
 Acquired lease financing on attractive terms for the fleet of 60 vehicles to mobilise the teams on telecommunication projects.
 Successfully managed the Joint Venture relationship with TCIL (Telecommunication Consultants India Limited).
 Prepared & submitted feasibility studies for the various projects. Established the integrity of the Balance Sheet by implementing policies and procedures.

Director Finance & Admin at IMATCO (Private) Limited

• Pakistan - Karachi
• January 1989 to July 2001

 Raised Private Equity for CAPEX from local market & banks in Karachi, Pakistan.
 Exhibited in International Fairs & Secure export orders by soliciting importers in USA, Canada & Europe.
 Acquired flexible Export Finance from the banks for execution of new export orders.
 Re-structured the finance and accounts department and established policies & procedure for financial reporting and prepared a five year business plan for the company.
 Acquired vendor’s credit on attractive terms to execute the export orders.
 Successfully managed the vendors, banks and external auditor’s relationships.
 Prepared feasibility studies & market studies.