عادل الصانع

رئيس مجلس إدارة شركة أتش أل بي الكويت

Offering nearly 30 years of experience in Accounts & Finance in Kuwait, entailing:

  • Financial Planning & Control
  •  Team Building/Leadership
  • Finance & Accounts • Budgeting
  • Funding • Audit & Compliance

 

  • Receivable & Payables • Policy/Procedure Development
  • Productivity/Performance Improvement • Systems Development
  • Staff Training/Development • ERP Implementation

 

q   Expert in overall accounts & finance functions including maintenance & finalization of accounts, working capital management, profit monitoring, project finance, auditing, building internal financial controls, etc.

  • Dynamic & proactive approach in successful organizational development initiatives that delivered consistent & sustainable revenue & profitability.

 

  • Adept at monitoring the inflow & outflow of funds and ensuring optimum utilization of available resources towards the accomplishment of corporate goals.

 

  • Ability to improve operations, impact business growth and maximize profits through achievement in financial management, internal controls / efficiency improvements.

 

  • A keen performer with communication, negotiation and relationship management skills and abilities in liaising with banks & government agencies.

 

PROFESSIONAL EXPERIENCE

PRESENT POSITIONS

  • Chairman, HLB Kuwaiti Accountant Auditing, A CPA firm and member of HLB International,

 

an organization spread all over the world, including professional accounting firms and business advisors.

 

MEMBERSHIPS & SERVICE IN PROFESSIONAL ORGANIZATIONS, HONORS

  • Former Member of the General Assembly of the Accounting and Auditing Organization for the Arab State of the Gulf (GCC).
  • Former Chairman of the Committee of Auditors for the Association of Accountants and Auditors, Kuwait.
  • Delegate to the College of Business Studies for the Public Authority for Applied Education and Training (Teaching the principles of accounting and essentials of auditing, cost accounting, insurance, and accounting principles).

 

  • Listed in the schedule of guards, experts, judicial arbitration and liquidations in the Ministry of Justice, Kuwait

 

  • Member of the Association of Accountants and Auditors, Kuwait from 1983 till date.

ORGANISATIONAL SCAN

Last Designated as Chairman

Career & Growth Path:

1983 – 2004

 

Held the Position of Chairman, Member of the Board of Directors and Financial Manager of Several Shareholding Companies:

  • Chairman of the Board of Directors of Raad Shops Co. (Food section) K.S.C.

 

  • Member of the Board of Directors of Markets Complexes Co. (Services section) K.S.C.

 

  • Member of the Board of Directors of Commercial Real Estate Co. (Services & Real Estate Sector).

Served as Senior Manager & Financial Consultant in the following:

· Oil sector : Kuwait Oil Company, K.S.C. (2001 – 2004)
· Trade sector : Kuwait United Fisheries Co. (1999 – 2001)

 

  • Hotels & foodstuff : Kuwait Hotels Company (1997 – 1999)

 

  • Telecom Sector : Zain (MTC) (1990 – 1997)

 

  • Investment Sector : Securities Group Company of (1987 – 1990)

 

  • Auditing Sector : Talal Abu-Ghazaleh Group Co. (1983 – 1985)

 

CORE COMPETENCIES

 

Strategic Planning & Financial Control, Accounting Functions, Fund Management / Project Finance / Budgeting:

 

  • Performing the key role of validating business plans & commercial strategies for maximizing profitability & revenue generation in line with corporate goals.

 

  • Determining financial objectives and preparing & implementing systems, policies & procedures to facilitate internal financial control in the areas of pricing, credit and collection.

 

  • Creating budgets & conducting variance analysis to determine difference between projected & actual results and implementing corrective actions for the same.

 

  • Preparing & maintaining statutory books of accounts and reconciliation of financial statements in compliance with the norms & Presenting a true and fair view of the financial position.

 

  • Responsible for:

o    Maintaining MIS & reports, evaluating them for facilitating decision making process.

 

o    Preparing accounting entries in various modules i.e., receivables, payables, GL, inventory & HR.

  • Preparing & processing payroll & staff remunerations – OT, leave pay, indemnity, bonus & incentives.

 

  • Administering treasury functions including optimum utilization of surplus funds; controlling management of funds & securities ensuring pay-in/ pay-out of funds in time without fail & Handling project finance activities; making necessary arrangements for project financing viz., advance & performance guarantees, letters of credit, bill discounting facilities and overdrafts.

 

Auditing & Receivable / Payable Management:

 

  • Coordinating in complete planning & management activities for ensuring completion of internal & statutory audits within time.

 

  • Handling the internal audit of the companies including setting up of internal audit systems as well as monitoring of the implementation of the systems.

 

  • Overseeing advance controls for advance payments & following up with purchaser, cost centre wise consumption & analysis with average consumption & Ensuring that all payments are made to suppliers within the stipulated time frame and managing accounts payable within the pre-set parameters.

EDUCATION & CREDENTIALS

1983     Bachelors Degree – In Accounting from University of Kuwait

 

Masters Degree – In Business Administration (MBA) from University of San Francisco, USA 1997 Certified Public Accountant License no. 86(a), Kuwait

 

96599712000

Services and specialisations

Areas of expertise

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Qualifications and memberships

  • Bachelors Degree – In Accounting from University of Kuwait
  • Masters Degree – In Business Administration (MBA) from University of San Francisco, USA
  • 1997 Certified Public Accountant License no. 86(a), Kuwait

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