Latif Awad

Financial and Administrative Director

QANBAR READYMIX CO

01.2011 - 01.2024

Leading and coordinating the entire accounting team stands as the foremost accomplishment, ensuring smooth daily and monthly operations, setting clear goals, and fostering a cohesive work environment.
Managing financial accounts to ensure strict adherence to both local and international accounting standards is crucial for regulatory compliance and financial integrity.
Planning & reviewing the company's cash flows on a daily, monthly, and annual basis is pivotal for maintaining liquidity and financial stability.
Developing and executing comprehensive tax strategies, along with overseeing the accuracy of annual zakat reports, directly impacts the company's financial health and compliance obligations.
Effectively managing and reducing financial risks associated with interest and exchange rate fluctuations, market prices, and other variables safeguards the company's assets and profitability.
Carefully reviewing banking facilities and analyzing loan documents for long and short-term implications is crucial for optimizing the company's financial resources.
Continuously monitoring opportunities for cost reduction and implementing analysis of variable costs and pricing policies directly impacts the company's profitability and competitiveness.
Reviewing and monitoring the optimal utilization of company assets and equipment contributes to operational efficiency and resource optimization.
Providing valuable financial insights and advice to executive management supports informed decision-making processes, facilitating strategic planning and growth initiatives.
Implemented streamlined credit policies and enhanced receivable tracking systems, resulting in reduced bad debt, improved cash flow, and faster invoice processing.
Developed proactive collection strategies, negotiated favorable payment terms, and fostered cross-functional collaboration, resulting in decreased overdue accounts, improved collection rates, and enhanced overall credit quality.
Led feasibility studies and financial analyses for diverse projects and opportunities within the ready-mix concrete industry. Utilized advanced financial models to evaluate performance indicators, investment metrics (such as ROI, IRR, Payback period, break-even points, NPV, etc.), and risks. Conducted sensitivity analyses to optimize decision-making processes and ensure alignment with strategic objectives.
Spearheaded and directed the ambitious expansion strategy of the ready-mix concrete company over the past four years, resulting in a remarkable increase of over 40% in both volume and revenue. Implemented robust plans for working capital management and cash flow control to ensure the successful execution of expansion initiatives, despite the challenges posed by the difficult economic conditions in the concrete market.

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