Ali Bux
Accounts & Finance
Dubai
Summary of Career
1. Created multiple business models to derive the best ROI strategy on MS Excel and Argus Developer.
2. Established and successfully managed the business planning, budgeting & forecasting routine, created pro forma income statement, balance sheet and cash flow models for all projects and Group consolidations.
3. Implemented budgetary and internal control policies / procedures for all the areas of business.
4. Instituted credit policy & collection systems / procedures to maximize cash flows.
5. Conducting due diligence and valuations for mergers and acquisition opportunities and successfully executed acquisition strategy.
6. Participated in securing an international hotel chain operator for 5 star hotels.
7. Acquired project external financing of USD 150 million, review term sheet / loan documentation and completed CPs.
8. Monthly updates the group debt status report, tests financial covenants compliance and prepare routine / quarter / annual reports for the banks in the agreed formats.
9. Preparation, review and timely submission group monthly management accounts and performing variance analysis, on monthly, year to date and to-date basis, and rollover forecasting for next one year.
10. Controlling CAPEX and REVEX in conformity to the approved budget.
Experience as Chief Accountant & Cost Controller
The Best Western Plaza Hotel
01 November 1996
31 December 1997
Key responsibilities and achievements included:
• Supervise accounts, finance & cost department.
• Deals with suppliers.
• Prepare daily bank position, revenue, occupancy and collection reports.
• Supervise night auditors.
• Prepare and maintain daily cost of production report.
• Control stores and inventory.
• Prepare monthly bank reconciliation, payroll, excise duty, and bed tax returns.
Experience as Accounts Manager
Quality Linen Supply Corporation
01 June 1998
31 January 2000
Quality Linen Supply Corporation engaged in manufacturing and export of towel.
Key responsibilities and achievements included:
• Maintained accounting controls by establishing a chart of accounts; defining accounting policies and procedures.
• Preparation of quarterly/annual account based on the applicable laws and IFRS requirements.
• Initiated budget and forecasting activities
• Monitored and analysed department work to develop more efficient procedures and use of resources while
maintaining a high level of accuracy
Experience as Finance Manager
Ali & Sameer International
01 April 2000
30 April 2003
Ali & Sameer International engaged in manufacturing and export of garments having state of art garment manufacturing facilities. It was supplier for international buyers like Wal-Mart, Jc Penny & KOHLS.
Key responsibilities almost same as shown above while working with Hamid Textile Industries.
Experience as Hamid Textile Industries Limited
Hamid Textile Industries Limited
01 April 2003
30 September 2005
Hamid Textile Industries (HTI) engaged in manufacturing and export of denim. HTI is one of leading denim manufacturing industry in Pakistan having vertical unit of denim manufacturing from yarn to finished garment. HTI having international buyers like Wal-Mart, GAP & KOHLS.
Key responsibilities and achievements included:
• Project management for implementation of Oracle based in house Accounting, cost & Budget, Fixed assets, Payroll, Software.
• Finalization and closing of monthly / annual books of accounts and managed company reporting under tight deadlines.
• Implementation of group internal control policies and procedures.
• Lead budget preparation & approval.
• Planning & maintenance cash flow.
• Arranging refinance from banks against export, finance against import of material (FIM) and Lc discounting.
• Authorised daily receipt, payment & journal vouchers.
• Finalized company financial accounts for external management audit and sales tax audit.
• Preparation of annual income tax return, monthly general sales tax returns & all other sales tax documents like inventory, Bank reflection and refund claim file.
• Perusing the hearings of income tax & sales tax on behalf of company.
• Checking & verification of payroll, tax deduction on pay roll.
• Arranging lease facilities for company.
Experience as Manager Cost and Budget
Al Abbas Industries Limited
01 January 2006
31 December 2006
Al Abbas Industries Limited. It is one of subsidiary of AL Abbas Group Limited. The company involved in manufacturing of metal alloys Ferro silicon, calcium carbide, MDF (Medium density fibre board) and electricity generation. I had worked in the Finance department and reported to Chief Financial Officer.
Key responsibilities and achievements included:
• Designed and successfully implemented cost accounting, production & inventory control systems.
• Established and successfully managed the business planning, budgeting & forecasting for all divisions like Ferro silicon, calcium carbide, MDF (Medium density fibre board).
• Identified idle capacity, reduced machine breakdowns and achieved labor efficiency.
• Designed an effective monthly management reporting pack.
• Conducted product costing/pricing and cost-volume-profit analysis.
Experience as Management Accountant
Streetscape International
04 February 2007
05 February 2008
• Implemented budgetary and internal control policies / procedures for all areas of business.
• Created multiple project models to derive the bid price on targeted profit basis.
• Developed annual master financial and capital budget for the company.
• Approved and controlled project cost and expenses according to the approved budget.
• Participated in development of the financial planning, policies and recommendations for company.
• Analysed and identified the cost controlling areas and develop the policies.
• Prepared monthly and quarterly cash requirement statement.
• Prepared monthly and quarterly budget variance report along with the financial reports.
Experience as Senior Manager Budget & Planning
Select Group
06 February 2008
03 October 2019
Select Group is a largest private developer in Dubai Marina. It comprises of more than 35 legal entities of Real Estate Development and Investment with total value of Group’s assets developed and under development exceeding USD 2.5 Billion. I am Primarily responsible for managing Budget and Planning Division in accordance with the best industry practices, additionally performing responsibilities of Manager Accounts & Finance in their absence.
Bachelor 01 January 1990
B.Com from University of KarachiOther 01 January 2002
FPFA - Fellow Member of Pakistan Institute of Public Finance AccountantOther 01 June 2012
Adv. Dip MA - Chartered Institute of Management Accountants. UK (CIMA)Other 01 January 1997
FCMA - Fellow Member of Institute of Cost & Management Accounting of Pakistan