Hafiz Asim I Aca I Fcca I Digital Transformation I.

Hafiz Asim I Aca I Fcca I Digital Transformation I. Email and Phone Number

Hafiz Asim I Aca I Fcca I Digital Transformation I.'s Location
Al Khobar, Eastern, Saudi Arabia, Saudi Arabia
About Hafiz Asim I Aca I Fcca I Digital Transformation I.

I am a Qualified Chartered Accountant (ACA, FCCA) with more than 17 years of experience. Currently, I hold the position of Director of Finance at Al Jomaih Energy and Water Company, specializing in the Power and Utilities Sector. .Prior to this, I successfully served in the pharmaceuticals and oil and gas sectors in Saudi Arabia for a duration of 9 years. Additionally, I have gained valuable experience during my tenure at reputable audit firms such as Deloitte in both Saudi Arabia and Pakistan.Throughout my professional journey, I have been collaborating with stakeholders, board members, and senior executives, fostering strategic organizational growth. My adeptness in managing large finance teams, coupled with an intimate understanding of all finance functions, enables me to contribute effectively to the company's success.Furthermore, my hands-on experience in corporate finance, project finance, mergers and acquisitions, business strategy, and handling accounting for complex group structures, including consolidation, showcases my ability to navigate complex financial landscapes.My professional approach is characterized by proactive initiative, personal responsibility, enthusiasm, and an unwavering commitment to delivering exceptional results. I have built a strong reputation for overcoming obstacles and driving successful outcomes.Complementing my financial acumen is my academic background, encompassing a bachelor's degree in computer science. This educational foundation has equipped me with a profound knowledge of computers, encompassing an extensive range of ERPs. Moreover, I have successfully spearheaded IT transformations, leveraging my technical expertise to drive organizational success.For further details please refer to my detailed experience and key achievements below.

Hafiz Asim I Aca I Fcca I Digital Transformation I.'s Current Company Details
Al Jomaih Energy and Water Co. Ltd. (JENWA)

Al Jomaih Energy And Water Co. Ltd. (Jenwa)

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Director of Finance
Hafiz Asim I Aca I Fcca I Digital Transformation I. Work Experience Details
  • Al Jomaih Energy And Water Co. Ltd. (Jenwa)
    Director Of Finance
    Al Jomaih Energy And Water Co. Ltd. (Jenwa) Jan 2021 - Present
    Eastern, Saudi Arabia
    Al Jomaih Energy & Water Company (AEW) collaborates with major partners such as SEC, Aramco, Marubeni, Sojitz, Metito, and others to invest in, develop, and operate conventional and renewable power, desalination, and industrial wastewater treatment plants worldwide, partnering with global leaders in the energy and utilities sectors.Key achievements• Financial Restructuring: Successfully transformed the Debt/Equity ratio from an unsustainable 500x to a favorable position of NIL by strategically restructuring the balance sheet. This effort injected a substantial $375 million in equity, empowering the company to pursue projects previously unattainable.• Strategic Acquisitions: Orchestrated two prosperous acquisitions in partnership with ACWA Power, contributing to the company's growth and expansion.•Tax-Efficient Financing: Implemented a tax-efficient equity financing structure for three wholly-owned renewable projects in India. This involved a comprehensive analysis of External Commercial Borrowings (ECBs) and compulsorily Convertible Debentures (CCDs).•IFRS Advisory, Finance Department Establishment and team management, Cost Optimization, Impairment Analysis, Purchase Price Allocation, ERP Implementation, etc.Responsibilities:•Business partnering internally with Project Finance and Business Development teams by providing expertise in IFRS, Tax, Zakat, WHT, and VAT matters.•Advise companies for existing projects under bidding on financial decisions, i.e., EBL injections, hedging, and liaison with banks for arranging corporate financing facilities, SBLC, LG.•Liaison with international teams, affiliates, and auditors to finalize statutory reporting.•Impactful reporting and presentations to shareholders and BOD to foresee and plan the company’s future. i.e., business plans, forecasts, budgets, analysis, and other ad-hoc reporting.•Support the implementation of the finance organization of new projects (including implementation of ERP.
  • Gulf Specialized Works
    Senior Manager Corporate Finance
    Gulf Specialized Works Jan 2016 - Dec 2020
    Al-Jubial, Eastern Region, Saudi Arabia
    Gulf Steel Works is a premier fabricator of process equipment and heavy structures for industries like hydrocarbon processing, petrochemicals, and power generation. GSW, based in Jubail, offers innovative manufacturing solutions globally with five integrated divisions.Key achievements• Cost Allocation Enhancement: Identified and resolved a cost allocation discrepancy, significantly improving project cost accuracy. This enhancement ensured more precise bidding and enhanced the accuracy of financial reporting.• Efficient Reporting and Budgeting: Spearheaded the automation of monthly reporting and budgeting processes, resulting in a remarkable 99% accuracy rate with key performance indicators (KPIs) and a reduction of 10 days in the reporting cycle.• IFRS & VAT Implementation, Audit Excellence, Delivered a total of 6 reviewed audit reports, including 4 statutory and specialized purpose audits, 4 due diligence reports, and 2 IKTIVA reports within a span of 2 years for an IPO assignment.• SAP HANA FICO Implementation.Responsibilities:• Finance partner to the Business Units, Providing routine and ad hoc management reporting.• Reviewing monthly consolidated financial statements for a group with meaningful analysis including budget vs. actual results.• Oversee the project accounting by closely monitoring the budgeted and actual man-hour rate and allocation of cost to projects for accurate project and divisional profitability.• Liaison with external stakeholders i.e. auditors to finalize statutory and specialized purpose audits, reviews, due diligence etc.• Working closely with the CFO to arrange facility renewals and project financing for major projects with Banks and other financial institutions like SIDF.• Preparation of 5-year company business plans, actively participating in strategy formulation with Management i.e. Startups, Shutdowns, Pricing, Estimations, etc.• Presentations to BOD and CEO about company performance strategy and decision-making.
  • Montajat Veterinary Pharmaceuticals Co., Ltd.
    Group Financial Controller
    Montajat Veterinary Pharmaceuticals Co., Ltd. Oct 2011 - Dec 2015
    Dammam Ksa
    Leading the business units accounts department (4 direct reportees)• Ensuring consolidated meaningful monthly financial reporting for all group.• Preparing and updating financial projections and business plans, including 5 year rollingFinancial Projections and business plans across the Group which are annually updated andsigned-off.• Coordinating and reviewing annual budget, analyzing and reporting variances on monthly basiswith actual results.• Taking lead in preparing, updating company's finance policies procedures and ERP system.• Arranging new sources of financing by considering prospective strategic direction of company• Leading treasury department to handle Islamic trade finance facility from number of banks i.e.Murabha, Tawwaruq, bid bonds etc.• Taking a lead role in preparing, planning, executing and finalizing the audit and other assuranceengagement. I.e. due diligence.• Preparing on demand and Special reports for management and board of directors.• Taking lead role in new business startups, i.e. arranging finances, building the chart ofaccounts, defining revenue recognition policy, fulfilling strategic and legal requirements andintegration of business with group.• Ensuring accounting books and records are prepared and kept properly.• Ensuring proper controls are in place and their compliance with corporate policy.• Liaison with bank, external auditors, zakat and other third parties.Key achievements- Supervised revenue generation,expenditures, department budget, and strategic planning. -Ensured local monthly business lines operated within budget of SAR70M to SAR 75M, met revenue targets of 250M.- Reduced Financial charges by 30%.- Implemented oracle ERP (Finance Model)- Secured a successful Acquisition deal of one subsidiary
  • Deloitte Touche
    Audit Supervisor
    Deloitte Touche Feb 2009 - Sep 2011
    Pakistan, Saudi Arabia
    My experience of more than 6 years continues with cross-functional teams on statuary audits, half yearly reviews, financial advisory projects, feasibility reports, due diligence etc. with major industries of Textile, Service providers, Chemical, Food, Non-Profit Organizations, Financial Institutions etc and Government Departments.My employers honed me professionally by giving me extensive experience in undertaking the following responsibilities:- supervising and leading multiple teams, reviewing their work and evaluating their performance,- reporting to directors and the partner directly,- planning and allocating resources to meet objectives of audit and assurance engagements,- reviewing and auditing financial information for stakeholders,- assisting and supporting clients in meeting their regulatory and contractual requirements,- advising and recommending clients on the best practices in finance and operations, and- communicating with clients to accomplish tasks effectively and efficiently,
  • Hlb Ijaz Tabussum And Co Chartered Accountants
    Audit Supervisor
    Hlb Ijaz Tabussum And Co Chartered Accountants Jan 2005 - Dec 2008
    Pakistan
    -Statutory Audits and Taxation assignments as belowGujranwala Food Industry Pakistan (Manufacturing)Iqra woollen mills Pakistan (Textile)Islam lubricants (Chemicals)Jinnah welfare society (NGO)Organization for participatory development (NGO)CC Factories Pvt Ltd (Manufacturing) Plifo industries Pvt Ltd (Manufacturing )Sadiq woollen mills Pvt Ltd (Textile)Iqra oxygen Pvt Ltd (Gas processing and refilling)Crown rice mills Pvt Ltd (Processing of rice and packaging)Pak poultry processor Pvt Ltd (Processing and Manufacturing)Barkat society of human resource (NGO)Toyo plastic (Manufacturing)Bajwa enterprises (Manufacturing)Bajwa and Co. Pvt Ltd (Manufacturing)Aslam floor mill Pvt Ltd (Processing of floor)World sweets Pvt Ltd (Manufacturing)Haq feed industries Pvt Ltd (Processing of poultry items)

Hafiz Asim I Aca I Fcca I Digital Transformation I. Education Details

Frequently Asked Questions about Hafiz Asim I Aca I Fcca I Digital Transformation I.

What company does Hafiz Asim I Aca I Fcca I Digital Transformation I. work for?

Hafiz Asim I Aca I Fcca I Digital Transformation I. works for Al Jomaih Energy And Water Co. Ltd. (Jenwa)

What is Hafiz Asim I Aca I Fcca I Digital Transformation I.'s role at the current company?

Hafiz Asim I Aca I Fcca I Digital Transformation I.'s current role is Director of Finance.

What schools did Hafiz Asim I Aca I Fcca I Digital Transformation I. attend?

Hafiz Asim I Aca I Fcca I Digital Transformation I. attended Acca, Institute Of Chartered Accountants In England And Wales, Curtin University Of Technology, Curtin University, Icaew, Icaew.

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