Mohammed Ashraf Abu Hassan CFA FRM CMA MBA

IKEA KSA is a Franchise from Inter IKEA whose an internationally known home furnishing market leader retailer. Al Sulaiman group also has multiple other investments in logistics, Digital, real estates and many other types of investments.

I have a dual role as the CFO for IKEA and Group. my responsibilities include:
1- Group Finance, Purchasing and Legal functions
2- Streamline business operations that drive growth and improve efficiency and bottom-line profit.
3- Debt and banks management
4- Group investments and expansions plans (both physical and digital)

Leveraging a white space and a window of opportunity in the MENA region, Axantia intends to build the next generic pharmaceuticals leader across the region. This will be done through a carefully designed and well-executed buy-and-build strategy that has been initiated through two acquisitions:
1- International Company for Manufacturing Pharmaceutical Chemical and Medical Supplies W.L.L (“PIC”), which will be the cornerstone investment of the regional investment program.
2- A second investment has been completed in August 2015 in KSA through the acquisition of Madinat Al Dawaa in Jeddah, a very promising brown filed operation.

I oversee Finance, IT and Supply Chain Functions

Responsible for the overall finance and business navigation functions in IKEA and its supporting companies, reporting to IKEA CEO and also to the Chairman.

Responsible for overseeing GhassanCo various investments

The largest distributor of pharmaceuticals and baby products and one of the top three pharmacy chains in Saudi Arabia

Fully responsible for all corporate treasury function, reporting to group CFO and responsible for the followings:
- Establish strategies, policies, procedures, goals and action plans for the Treasury function across the group
- Establishing and maintaining banks relationships
- Raising necessary funding for the group to cover its CAPEX and operational requirements, and to provide necessary funding for group strategic plans and acquisitions (a total of USD 510 million debt raised during 2011 in UK and USA)
- Evaluating and managing liquidity risk and debt capacity for the group
- Managing working capital & cash flow
- Managing flow of funds across the group entities around the world (MENA, Europe and USA)
- Managing and globalizing insurance across the group
- Managing financial risks and carry on hedging activities
- Evaluate the feasibility of commercial deals. Negotiate and approve financially commercial deals and related contracts
- Prepare monthly reports to the BOD on treasury performance
- Managing employees saving fund investments with an assets of USD 10 million

Responsible for financial departments in MENA, including 7 MENA companies operating in over 40 countries, with 5 manufacturing sites, Business volume is 65% from total group business (~ USD 400 million).

Job Responsibilities:
Manage and oversee MENA Financial matters and operations which include:
1- Monthly financial closing and reporting
2- Manage the Budgeting, forecasting and planning processes
3- Participate in decisions making on various business aspects (including sales and marketing, business development, operation, research and development, IT, CAPEX and human resources)
4- Approve and negotiate financial aspects of commercial deals with licensors and review the financial dynamics of the deals and its contracts
5- MENA treasury and risk management
6- Prepare feasibility studies, financial due diligence and financial recommendation for Greenfield projects and M&A in MENA
7- Establishment of short term and long term financial strategies to meet the company goals and objectives.
8- Participate in setting and achieving company short term and long term objectives for MENA.
9- Oversee the financial audit in the MENA region

Hikma’s largest company in the Group

I was responsible for the entire finance function including accounting/budgeting and treasury

- Responsible for budgets preparation, modeling, analyzing, discussion and develop recommendations.
- Budget Monitoring and performance evaluation.
- Developing and modeling financial forecasts.
- Management discussion and analysis (MD&A) report preparation.
- Debtness modeling, forecasting and analyzing.
- Participation in the IPO process for Hikma (Date: 2005, review of policies and procedures, long form and short form requirements preparation … etc).
- Preparation of financial feasibility studies, modeling and developing recommendations.
- Preparation and modeling of the company business plan.
- Preparing financial analysis on P&L, income statements, markets profitability, customers' profitability, inventory … etc.
- Responsible to manage credit risk in MENA markets setting the company Credit policy and collection procedures.
- Assisting financial manager in financial department affairs.
- Perform the financial manager duties during his absence.
- Prepares reports regarding the markets (Collection, Ageing, banks positions and banks action plans) reports related to the treasury department.

Responsible for Corporate credit initiation, credit marketing & relationship management. Reviewing feasibility studies, analyzing cash flows, developing recommendations for project financing & managing the relationship with a large number of corporate credit accounts.
Review financial statements & preparing reports concerning companies’ financial standing. Credit risk administration & credit review. Target market research, product innovation, development & administration.
Extensive role in preparing the estimated budgets for the branch.
Responsible for Corporate credit initiation, credit marketing & relationship management. Reviewing feasibility studies, analyzing cash flows, developing recommendations for project financing & managing the relationship with a large number of corporate credit accounts.
Review financial statements & preparing reports concerning companies’ financial standing. Credit risk administration & credit review. Target market research, product innovation, development & administration.
Extensive role in preparing the estimated budgets for the branch.

startup