Saikh Bin Abedin

Saikh Bin Abedin Email and Phone Number

Chief Financial Officer @ Simtex Industries Limited
sabhar, dhaka, bangladesh
Saikh Bin Abedin's Location
Dhaka, Bangladesh, Bangladesh
About Saikh Bin Abedin

I have a career with over 10 years’ experience in various multinational and local conglomerates in the sector of Apparel, Ecommerce, FMCG, Cement, Information technology, Automobile industry. I worked as a strategic partner managing business and being part of the Board in the publicly listed and non-listed entity. I have effective management experience in the internal financial control and corporate governance, taxation, VAT, managing budgets, risk assessments and business strategy reviews in a complex matrix environment encompassing group, region & local management alongside the Board.

Saikh Bin Abedin's Current Company Details
Simtex Industries Limited

Simtex Industries Limited

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Chief Financial Officer
sabhar, dhaka, bangladesh
Website:
simtexgroup.com
Employees:
65
Saikh Bin Abedin Work Experience Details
  • Simtex Industries Limited
    Chief Financial Officer
    Simtex Industries Limited Jan 2023 - Present
    Dhaka, Bangladesh
    Financial Reporting, Financial Analysis:- Responsible for managing the fiscal functions of the organization as per accounting standards.- Prepares financial reports by collecting, formatting, analyzing, and explaining information.- Closely work with Group Chief Adviser regarding various operational and financial KPI- Assess and evaluate financial performance of organization with regards to long-term operational goals, budget and forecasts- Analysis of revenue and profit, budgeted expenses and making recommendation for improvements - Provide timely and accurate financial analysis of budgets, financial reports and financial trends in order to assist the management, including submitting management reports.- Regular review the business performance and guide management with operations improvement plan to overcome the hyperinflation and macro-economic crisis.- Monitor financial and business performance, highlight trends across key performance indicators and analyses anomalies to identify root causes.- Supervising Costing, Budgeting & Budgetary controlling - Provide Monthly Finance Review- Support the Group-CEO and BOD to take proper and timely decisions by providing various analytical reports Financial Management:- Financial modelling & negotiating with financial institutes- Cash flow management and following up Cash Forecast Draws strategy to maintain smooth cash flow throughout the year.- Control and evaluate the fundraising plans and capital structure of the organizationTAX, VAT & Custom:- Ensures that all rules and regulations of the Company, the Statutory/Regulatory bodies, the Company laws, Security & Exchange Rules are fully in compliance.- Conduct proactive VAT and Income Tax planning by evaluating how to best position assets and conduct transactions in order to minimize the amount of Income tax liabilities of the company and appraise the management accordingly.- Managing all regulatory affairs with BIDA, RJSC, NBR, Customs, BSEC.
  • Bijoy It & Co.
    Corporate Trainner
    Bijoy It & Co. Aug 2023 - Present
    Dhaka, Bangladesh
    I am passionate about the programs that promote knowledge sharing, community engagement in the social sector, and employee development in the social sector. I have conducted several trainings on the Income Tax, Corporate Governance, Financial Reporting and also on several topics at various MNC, Associations, Corporate houses and others.
  • Daraz
    Tax Manager -Finance
    Daraz Aug 2022 - Dec 2022
    Dhaka, Bangladesh
    - Ensuring 100% Tax and VAT compliance as per local laws.- Providing Direct tax and Indirect planning to reduce tax burden within legal framework.- Lead Project Implementation for VAT software.- Calculating deferred tax as per IAS-12 and MIS reporting to Group Regional Head.- Preparing and submitting of VAT and Tax return- Determining the strategy on tax & VAT related litigation and presenting the company in the hearing.- Sharing knowledge with relevant stakeholders to keep them updated about relevant changes in tax & VAT law.
  • Hop Lun
    Senior Manager, Operation Control
    Hop Lun Jul 2020 - Jul 2022
    Gazipur District, Dhaka, Bangladesh
    - Calculating Output minutes, Efficiency & SMV Cost- Engaging in ongoing cost reduction analyses in all areas of the company- Preparing KPI & MIS Report and to ensure compliance with internal policies and procedures of the group.- Preparing Yearly Capacity Plan- Preparing Yearly CAPEX & OPEX Budget and monitoring during the MIS reporting for management.- Justifying Purchase Requisition, Negotiation with Supplier, Place PO, Verifying Bill, and Process bills for payment in accordance with company’s laid down policies, procedures, and guideline- Responsible for Budgetary Planning and Control, Cost Management and Financial Feasibility Analysis- Maintaining/updating capacity database, report periodically for merchandising team and management review.- Drive regional capacity, supplier management, methods & systems projects; contribute to methods & tools improvement by cooperating with relevant stakeholders.- Collaborate with multiple stakeholders by analyzing capacity and on-time delivery data monthly- Preparation of different financial analysis- Different cost analysis of production processAchievements:- Reduced OPEX by 3.8% through establishment of accountability of functional head.
  • Ifad Autos Ltd
    Manager, Accounts
    Ifad Autos Ltd Apr 2017 - Jun 2020
    Ifad Tower, 7 New Tejgaon I/A, Dhaka-1208
    Accounts:- Ensure timely preparation of Financial Statements in line with applicable accounting and reporting standards for the purpose of External Audit, BSEC, RJSC and NBR.Taxation & VAT- Ensuring 100% Tax compliance as per local laws- Providing tax planning to reduce tax burden within legal framework- Ensuring 100% TDS & VDS deduction at source as per local laws- Calculate annual corporate income tax & submit the return within due date- Collect AIT certificates and related documents and reconcile them with accounting records- Making liaison with the lawyers and auditors regarding company legal matters- Dealing with Tax authorities regarding different Tax issues including appeal- Calculating employees tax as per ITO-1984- Calculating deferred tax as per IAS-12- Preparing and submitting of VAT return.- To maintain VAT calculation for the purpose of reportingCosting- Prepare pre-costing and post costing documents as per requirement.- Analyze COGS, GP, and ration of financial statement- Responsible for creating, maintaining and updating Cost Sheets for all the existing as well as new products.- Perform detailed financial analysis including advanced financial modeling, profitability analysis, return on investment/discounted cash flow analysis, monitoring business issues and impact to bottom line.- Cooperate to prepare budget and re-forecast operations/financials of the company.- Research industry trends, competitors, etc. as necessary- Attend key meetings, both internal and external, which the Business Director cannot attend and report findings from the meetings.- Cost and Profitability analysis of both existing and prospective products.- Create Capital Budgets, Project Costing and Feasibility Statements for new projects.Achievements:- Implementing Product Costing Modules- Completed the process of Tax Refund of BDT 124m- Saved BDT 70m through efficient VAT management
  • Meghna Cement Mills Ltd
    Sr. Executive, Accounts & Finance
    Meghna Cement Mills Ltd Aug 2015 - Mar 2017
    Dhaka, Bangladesh
    - Ensure timely preparation of Financial State-ments in line with applicable accounting and reporting standards for the purpose of External Audit, BSEC, RJSC and NBR.- Ensure proper documentation of all financial and accounting related matters- Review actual manufacturing cost and pre-pares periodic reports comparing standard cost to actual production costs.- Responsible to look after the banking, import related documents and procedures, VAT, AIT- Prepare & Analyze monthly departmental budgeting and accounting reports to maintain expenditure controls - Summarize budgets and submit recommenda-tions for the approval or disapproval of funds request- Process bills for payment in accordance with company’s laid down policies, procedures and guideline- Process accounting vouchers by providing proper coding and posting into the SAP- Follow of updates accounting policies related to fixed assets adopted my Management- Record Fixed assets acquisition & Dispositions in the accounting system.- Calculate Depreciation for all Fixed Assets- Lead in updating policies and procedures in relation to financial and accounting matters and report to CFOTaxation Services:-- Responsible for Income Tax return submission, hearing and assessment finalization - Monitor deduction of Tax at source and deposit them to the government treasury on time.Achievements:- Implementation of SAP S4/Hana within deadlines, working as a core user in the team.- Completed the process of Tax Refund of BDT 1437m
  • Artisan Chartered Accountants
    Articled Student And Audit Representative
    Artisan Chartered Accountants Oct 2012 - Oct 2015
    Bsec Bhaban, 102 Kazi Nazrul Islam Avenue, Kawran Bazar, Dhaka.
    Statutory and Special Audit:- -Preparation of detailed Audit plan, Audit Program and methodology of Accounting and Auditing Services as a Senior Audit Assistant, Job-in-Charge or Team Leader.- Assessment and evaluation of internal control system of the client.- Examining the books of accounts i.e. General Ledger, Cash book, Bank book, Subsidiary Ledger, in supported with sufficient and relevant evidence.- Examining inventory records with physical Inventory report and Non-current Assets Accounts and register with physical verification.- Review of Budget and Cash Flow, Expenditure and Bank Accounts; and- Preparation and finalization of audit and investigation Report of Financial Statements along with analyzing of financial indicators and issuance of Management Report to the Management.Accounting Services:-- Assisting for designing and implementation of customized Financial and Accounting System.- Advising and assisting in preparation and maintenance of books of accounts i.e. Ledger, Cash book, Bank book, Vouchers etc. periodically.- Assisting in preparation of Financial Statements (Statement of Financial Position, Statement of Comprehensive Income, Statement of Cash Flow, Statement of Changing Equities and Notes to the Accounts) with compliance to applicable rules and regulations and general procedure.Taxation Services:-- Filling Income Tax return of Individual and Company. - Computation of Tax liability of Individual and Company.- Preparing and submitting of VAT return.- To maintain VAT calculation for the purpose of reporting.Management Consultancy Service:- - Collection of Budget related all documents from different Companies. - Preparation of all Companies Month wise yearly Budget.- Follow-up of the Budget implementation.- Preparation of Budget Monitoring Report.
  • Abode Properties Ltd.
    Accounts Executive
    Abode Properties Ltd. Jun 2011 - Aug 2012
    Dhaka, Bangladesh
     Recording & posting software of the following transaction:*All Bank transactions.*All Supplier and Party related transactions.

Saikh Bin Abedin Education Details

Frequently Asked Questions about Saikh Bin Abedin

What company does Saikh Bin Abedin work for?

Saikh Bin Abedin works for Simtex Industries Limited

What is Saikh Bin Abedin's role at the current company?

Saikh Bin Abedin's current role is Chief Financial Officer.

What schools did Saikh Bin Abedin attend?

Saikh Bin Abedin attended The Institute Of Chartered Accountants Of Bangladesh (Icab), The Institute Of Chartered Accountants Of Bangladesh (Icab), Asa University Bangladesh, Asian University Of Bangladesh.

Who are Saikh Bin Abedin's colleagues?

Saikh Bin Abedin's colleagues are Mithun Mondal, S.m. Armanul Hoque, Md Farhamun Kabir Pappu, Ariful Islam, Syed Kamrul Hasan, Shahadat Hossain, Osman Ghani.

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