Shahbaz Hayder

Sharif Group is one of the leading industrial groups in Pakistan covering four business sectors namely Sugar, Textile, Engineering and Energy.

Selected as Group Head Finance to manage the strategic, financial, treasury, banking, compliance, MIS reporting, budgeting, stakeholders’ management, intragroup and consolidation functions of the following group entities:

1. Chaudhry Sugar Mills Limited - Sugar & Textile Divisions
2. Hudabiya Engineering Company (Private) Limited
3. Swift Energy (Private) Limited

Major achievements are:

• Managed all group affairs and business operations including sales, production, financial and legal matters independently in accordance with the strategic vision of the board of directors.

• Structured, negotiated and finalized a syndicate financing of Rs. 2 billion for relocation of sugar mill.

• Renegotiated and operated regular credit lines of Rs. 3 billion for Sugar and Textile divisions.

IHCC is the leading Hospital Construction Company in MENA region and a strategic business unit of Saudi German Hospitals Group which is the largest healthcare group in MENA region.

Appointed as Chief Financial Officer to lead a multinational financial team located in different countries of MENA region, manage financial reporting in the light of regulatory requirements of the respective countries and consolidate financial results for decision support of the Board of Directors in assessing current performance and evaluating new business ventures, expansions and investment plans. Achievements were:

• Managed accounting, budgeting & financing functions of portfolio of projects exceeding SAR 600 million.

• Successfully planned and started three new business ventures in KSA and expanded UAE operations.

• Restructured the business processes, MIS reporting, KPIs, Budgeting & Forecasting techniques, and implemented Oracle Financial E-Business Suite R12.

• Secured a “Classified Class A Construction Company” ranking from the Government of Saudi Arabia.

• Defined risks, internal controls and correlation among those. Initiated and implemented one of the best Enterprise Risk Management System (CARE™ Governance, Risk & Compliance Software).

EKL is a well-known company in managing EPCC (Engineering, Procurement, Construction, and Commissioning) projects. It provides comprehensive design, engineering, mechanical fabrication, installation, erection and construction services to various industrial sectors in Middle East, Africa and Pakistan.

Appointed as Chief Financial Officer to arrange & manage funds and control costs for a large number of EPCC projects in Pakistan, UAE and Africa. Achievements were:

• Managed accounting, financing, costing & budgeting functions of portfolio of projects in Pakistan exceeding Rs. 2 billion and $30 million under overseas offices simultaneously.

• Negotiated and obtained Rs. 500 million financing lines after structuring into running finance, LG & LC limits, bill discounting, and leasing facilities from well-known banks. Arranged local and international ‘bid bonds, mobilization advances, performance and retention money’ guarantees from banks & insurance companies.

• Visited China to finalize the pre-bid financial terms with China Petroleum Engineering & Construction Corporation for a $600 million project.

• Structured, negotiated and obtained a cash flow based financing for a project of Rs. 300 million.

• Led Costing Department, designed projects financial review MIS reports which ultimately helped in controlling projects costs. Improved cash flow position by effectively monitoring receivables, progress billing, guarantees margin, mobilization advance adjustments, retention money balances and payment terms.

• Prepared the Audit Committee Charter and Internal Audit Charter and directed the development of an independent Internal Audit Department.

Suraj Fertilizer is the largest Phosphate Fertilizer and Sulphuric Acid manufacturing project in Pakistan. It is producing 500MT fertilizer and 220MT sulphuric acid per day.

Recruited as General Manager Accounts and Finance to manage and automate the accounting, treasury, tax, SECP compliance, budgeting and financial reporting functions. Accomplishments were:

• Managed portfolio of corporate assets exceeding Rs. 900 million.

• Established true cost and profitability of each product line through optimal allocation of overheads and common expenses. Proposed best product mix and ensured business lines met revenue targets.

• Obtained working capital and leasing facilities from well-known banks / leasing companies and managed consortium financing of Rs. 300 million.

• Revamped the accounting system, documented SOPs and implemented business process automation tools.

A leading group in automobile sector in Pakistan, engaged in the business of manufacturing and sales of tractors and agricultural implements.

Originally brought in as Founding Chief Financial Officer to direct the start-up of a complete corporate financial, accounting and internal control system for a newly acquired industrial unit and accepted a challenge to make it a growing profitable entity. The same was acquired from Corporate Industrial Restructuring Corporation in an open bid that declared and auctioned it as a sick ‘Batteries Manufacturing Unit’. Key achievements included:

• Developed and implemented complete corporate financial, accounting and internal control systems from scratch. Designed an IFRS compliant framework for books of accounts and financial statements.

• Recruited, trained, allocated duties, directed and appraised a team of finance professionals.

• Evaluated information technology requirements and spearheaded the selection, implementation and customization of accounting softwares including integration with other organizational functions.

• Authored business plans for banks and negotiated a Rs. 100 million credit line.

• Converted private limited company into a public limited company and raised Rs. 60 million through ‘Initial Public Offering’ of common stock.

• Transitioned company from operating loss to net profit.

• Delivered 137% average annual net revenue growth.

• Generated a Rs. 7 million annual cost saving and reduced operating cash requirement up to Rs. 67 million.

• Achieved 46% reduction in inventory carrying cost through implementation of JIT system.

• Reduced monthly closing of financial results from 15 to 6 days.

• Implemented a Defined Contribution Plan (Provident Fund). Drafted Provident Fund rules & trust deed, got it registered with taxation authorities, prepared accounts of the fund and managed its investments.

Ilyas Saeed & Company is the provider of assurance, tax, legal and financial advisory services and has been ranked in Group “A” Auditors by The State Bank of Pakistan. It is a member firm of Midsnell Group International UK, an international association of 240 independent consulting firms.

Worked in three departments - Audit, Management advisory and Tax - of the firm, won the ‘Best Performer of the Year Award’ twice and combined expertise in the following:

• Planned, organized, recorded, and supervised audit assignments of various clients.

• Reviewed and analysed the efficiency and effectiveness of existing accounting and internal control systems, identified high risk areas, deficient controls and made recommendations for improvement.

• Drafted audit programs for staff and concluded reports for audit manager and engagement partner.

• Executed bookkeeping and prepared financial statements (quarterly, half-yearly, annual and consolidated).

• Prepared feasibility reports and business plans for various clients.

• Performed corporate secretarial services and ensured compliance with corporate laws including Code of Corporate Governance and SEC Pakistan directives.

• Guided individuals and corporations in tax computation, planning, compliance and audit.

• Prepared and filed Income and Sales tax / VAT returns of all types of tax payers.