Resume_SMIJAZ_2003.doc

Syed Muhammad Ijaz, FCA. LL.B.

GROUP CFO AND MEMBER EXECUTIVE MANAGEMENT BOARD

GCFO and Member Executive Management Board with 20+ years multifaceted and rich experience in improving efficiency, turning around business, creating value through process re-engineering and getting the best out of people.

Strategic advisor to the Board on takeovers, spinoffs, business expansion plans, operations and investments.

Areas of Expertise Include; Strategic Planning Risk Management Market Research Mergers and Acquisitions

Team Development Forecasting/Budgeting Cost Reductions Marketing campaigns

Technology Integration Regulatory Compliance Efficiency Improvements ERP implementation

PROFESSIONAL HISTORY

Partner- Huzaima, Ikram & Ijaz (HII) October 2014 till date

HII is one of the leading firms that practices in Tax and Corporate Law. Working as a Partner in a place where financial knowledge at “C” level combines with jurisprudence shaping in a cutting edge tool in Finance, corporate and tax Laws. Currently providing consulting services to following renowned clients;

Allied Bank Limited Descon Engineering Bank Al-Habib Limited Pfizer Synthetic Products Enterprises

Limited Sapphire Wind Energy Limited

PASSCO Faysal Bank Limited

Group CFO and Member Executive Management Board- Jun 2013 to October 2014The City Group-The group consists of 190 local and 20+ international Schools with flagship company The City School Systems (65000+ student body)

Profitability and Expansion

Currently working on a DD of Medical College and Hospital project amounting to PKR 600m

Planned investment of excess funds through hybrid accounts like SMAs.PKR-150m on CPPI and Constant mix basis.

Reduced bank interest rates by 50 bps resulting in an improved profitability.

Created and deployed structured targets for growth (9% in student body and 16% in fee structure) resulting in an increase of 25% in top line and 40% in bottom line.

Strategy

Conducted Financial DDs on various international acquisition assignments ranging from AED 30m to AED 40m

Finance and Accounts

Spearheaded budget for the organization with topline of PKR 6.8b and bottom line of PKR 1.9b. Activated Oracle EBS’s budget encumbrance accounting.

Crafted S2B payment link with SCB connecting Oracle EBS host to host with SCB. Collection automation with UBL utilizing UBL’s B2B encryption software for creating a link with Oracle EBS.

Risk Management

Ensured all the assets of the company are comprehensively insured.

Further developed a business continuity plan through remote DR site at ring on an optic fiber connection.

Ensured alternative medium of Electricity to avoid risk of interruption in operations

Initiated movable assets tagging system for movable assets amounting to PKR 4b

Mergers & Acquisition

Currently working on two acquisition deals amounting to USD 3m & PKR 500m respectively

H.No. 424 Block J II, Johar Town, Lahore, Pakistan. | Cell: 0092-332-8655096 & 0092-300-8651096 | Email: [email protected] | SKYPE: FCALLB Page 1

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Operations Management

Introduced Shared Services concept in the Organization and reduced Payroll costs by PKR 1.5m/Month

Devised Internal Controls and SOPs for Major operations like collection and Payments.

Introduced Lean Six Sigma and BPM elementary concepts in the organization

Legal Compliances

Presented and won alongside tax lawyer Income Tax cases. Avoided demand of PKR 500m. Received appreciation letter and bonus on this achievement.

Successfully avoided, in Supreme Court of Pakistan, an erroneous contempt of court plaint filed by SESSI

Architect of Major Investment MOUs and other corporate documents as a head of legal department.

Forensic Investigations

Located frauds and forgeries during my stay as CFO amounting to PKR 3.4m to PKR10m

Group Chief Financial Officer- Mar 2012– Jun 2013 Magna Group of Companies-A vertically integrated Textile Group with USD 100m annual turnover

Presented and won before Federal tax Ombudsman Tax cases amounting to PKR 48m

Successfully negotiated with banks for waiver of export realization charges from 0.07% to zero.

Spearheaded intergroup reconciliations through in house developed ERP. Reduced reconciliation time by 10 days and enabled real time reconciliation.

Further corrected structure of Insurance resulting in an annual saving of PKR 1m and spread the risk in two insurance companies (EFU & AIG) from one.

Crafted business plan for expansion of existing weaving unit (doubling the size of 288 existing looms).

CFO & Company Secretary- Dec 2010 - Mar 2012Mannan Shahid Forgings Limited-A project of Abraaj Capital UAE-Abraaj Capital and a forging house with 20000MT/year forging capacity through hot and cold coining.

Discovered a new source for steel procurement from China that reduced the dependence on one local source and saved PKR 20/kg on an import of 8,000,000 Kgs

Converted short term borrowing to low markup based export refinance amounting to PKR 225 m thus reduced markup by PKR 12 m a year.

Surpassed budget in terms of EBITDA by 9% and bottom Line 35%, in financial year 2011..

Implementation of SCM and GL finalized for Microsoft Dynamics GP and developed financial statements utilizing FRx reporting.

Director- Aug 2009 - Dec 2010M Yousaf Adil Saleem & Co. Member firm of Deloitte Touché Tohmatsu. A Swiss verein, one of big four, with 160,000+ employees globally

Under a contract (USD 1m) with USAID conducted;

Pre-award assessment of Small and Medium Enterprise Development Authority (SMEDA) Pre-award assessment of Secretariat of Provincial Assembly of the Punjab Pakistan.

Conducted cost audit of AkzoNoble Pakistan annual turnover PKR 32.4m

Supervised half yearly review of SNGPL with an annual turnover exceeding

Administered DDs of big mergers

Askari Commercial Bank with an asset base of PKR 200b Orascom’s proposed acquisition by Singtel

Group’s Management Consultant- July 2000 to Aug 2009 Started as Group Manager (Finance and Tax Division) (June 2000 to July 2003) later served as Group Management Consultant of Sitara Group of Companies-Group consists of 15 Limited companies including 3 listed at all three stock exchanges of Pakistan.





Supervising the Finance and Accounts function of 500 beds Aziz Fatima Trust Hospital and a Pediatric and Maternity facility of 250 beds under the name and style of Ghafoor Bashir Children Hospital

Prepared improvement plan for Sitara Textile Industries Limited and turned around a loss of PKR 100 m. to a profit of PKR 121 m in year ended June 30, 2008

Devised plan for turnaround of Sitara Energy Limited through expansion from 48 MW capacity to 80MW. Company switched on dual fuel power production i.e. GAS fired and HSD fired further the company posted PKR 110 m profit after tax in year ended June 30, 2008 as compared to PKR 1.79m in Year 2007

VAT (Sales Tax) case presented for Sitara Energy Limited against PKR 80m demanded by Tax department Avoided demand and saved PKR 80m

Sitara Chemical Industries Limited-Investment planning conducted with reference to Income Tax. Company took advantage of accelerated Tax depreciation that resulted in avoidance of tax to the tone of PKR 164m in 2007 and PKR 155m in 2006

Sitara PerOxide Limited-Prepared financial feasibility for issuance of PKR 1.4b sukuks. Financial Cost reduced by 0.75% Per Annum, expected Saving PKR10m PA

Yasir Spinning Mills Limited- Now Sitara Hamza Limited, prepared revitalization plan for sick spinning unit of open ended Russian frames (relevant year 2003) Company posted PKR 5m profit in year 2008 and is projected to post PKR 50 m profit in 2009 with no tax impact as the company has assessed tax losses available to the tone of PKR 80m (at present out of 170M balance already adjusted)

Sitara Spinning Mills Limited- Tax saving plan for de-merger of Sitara Spinning Mills limited previously a textile division of Sitara Chemical Industries Ltd. Successfully saved Sales Tax amounting to PKR30m and avoided withholding of Income tax amounting to PKR12.6m

Sitara Energy Limited- VAT case for disallowance of input tax adjusted on machinery used in production of taxable goods Avoided demand and saved PKR 55m

Manager - August 1994-June 2000S.A.Salam & Co. Chartered Accountants

Started as Audit Trainee (August 1994-August-1998) and charted a growth to Manager Level

EDUCATION AND CERTIFICATIONS

Chartered Accountant (FCA)-1999, Bachelor of Law (LLB)-2007

Bachelor of Commerce (B.Com)-1994

AFFILIATIONS AND MEMBERSHIPS

ORGANIZATION ROLE YEAR OF ENLISTMENT

Institute of Chartered Accountants of Pakistan Fellow Member

Associate Member

2006 onward

2000 to 2006

Faisalabad Tax Bar Association Membership 2007

Federal Board of Revenue, Pakistan Chairman, Alternative Dispute Resolution Committee

2007

Punjab Bar Council Member/Advocate 2011



Documents

Resume_SMIJAZ_2003.doc