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The most important successes of the operations carried out by the Group

Works

Following, a simplified view of the successes achieved by the Group:

1- Bahrain Parliament:

to provide a confidential Actuarial report and not for publication, about the General Authority for Retirement Fund and the Social Insurance Organization.

  1. A comprehensive plan has been set to collect all the necessary data.
  2. Analyzed the data and extracted financial indictors.
  3. Many procedures and meetings held with the government concern Persons along with the audit and the comprehensive examinations of the related documents.

Based on the comprehensive report submitted a new enactment in the Kingdom of Bahrain in light of our findings.

2- High Civil Court:

Liquidating one of the banks working in the Kingdom of Bahrain and preparing periodic reports illustrating all the procedures and actions we are taking in this regard.

  1. Our legal experts took the necessary legal actions to liquidate the bank.
  2. With co-operation of the Department of Accounting and Auditing, the two departments examined all the documents and accounting records of that bank, in order to determine the fixed & the current assets and liabilities of the bank and to prepare a report of the financial situation and the statement of the net assets.
  3. Several official meetings held inside and outside the Kingdom of Bahrain with the creditors and debtors of that to reach to a compromise.
  4. Appointed many lawyers in various GCC countries to file cases against some of the debtors of the bank to collect the receivables.

  1. A periodic reports on the financial situation of that bank submitted to the Court included all the procedures and acts have been taken by the Group as a prelude to liquidate that bank.
  2. We have reached a compromise with the creditors of the bank that enabled us to save time for liquidating the assets of the bank and collecting the amounts accrued.
  3. More than 60% of the expected receivables have been collected, which is equal to 35% of the total debts accrued to the bank which deemed to be brilliant success though the difficulty of access to these debtors in various GCC countries, as many of them enjoys political immunities and sort of Currently, we are going ahead in collecting the remaining amounts for the Bank.

3– A Chemical Factory:

Professional training program provided for its accounting department staff.

  1. A time training program has been prepared, presented and discussed with the accounts department in the Factory.
  2. The training staff provided us with the scientific materials that they would like to get training on in writing.
  3. We explained and practically applied this scientific material in weekly lectures for trainees.

  1. After we finished performing the agreed program with the customer as per the designated schedule, the achievements were.
  2. Significant improvement in the performance of the accountants has been noticed.
  3. As a result of that improvement, now, the customer is capable to avoid the financial troubles he faced earlier.

4- Fish Farms in Saudi Arabia (Jeddah):

Preparation of a feasibility study to start the implementation of the fish farms' project.

  1. A detailed study on fisheries in Saudi Arabia, environmental factors and the nature affecting them has been executed, and we were able to stand on its market data required.
  2. In the light of the database that we have obtained about the Saudi market and in line with the financial funding of the partners in the project, we were able to present the feasibility of the project and the return expected during the first five years of the project.

  1. We finished the preparation of the feasibility study required and was presented to the partners of the project and has already been working out so far.
  2. The project management relied significantly on the financial and statistical data included in that study, resulting in the expected and projected revenues during the first two years.

5- A Public Stock Association in Sharjah Emirate in UAE:

We have been assigned by the Board of Directors of that company to prepare an advisory report to be submitted to the court for a criminal lawsuit filed by the Government of Sharjah against the Company's Board. The company was accused for its transfer of huge sums from its accounts to the accounts of private companies related to the Board of Directors heads, according to what has been proven by the report of a global audit firm.

  1. We have been moved to the company's headquarter to view and examine all accounting records related to the subject of the report to be prepared.
  2. We have held meetings with the referred Company's Board of Directors and with banks; the company have accounts in, and the other personal accounts that opened in the names of the heads of the Board of Directors of the Company.
  3. We studied and reviewed the report prepared by the External Audit Office, which condemned the Company's Board of Directors and ended to the conclusion that it commits legal irregularities against the company's equity.

  1. We prepared our advisory' report to the Board of Directors and in which it ended to a conclusion opposite to what came in the report of the external auditor.
  2. The report that we prepared were presented to many competent governmental and non-governmental organizations, which have jurisdiction over the subject and took the result that we have achieved.
  3. The case against the Company's Board were ruled in light of the findings of the report prepared by us, and not taking the results of the report of the external auditor (globally known) that assigned in the case by the court.

6- A Stock Association company in Saudi Arabia:

Preparing an advisory report to the Board of Directors about some administrative encroachments and irregularities committed by the managers of some departments in that Company.

  1. The Company's organizational structure and management policies has been viewed.
  2. Many meetings been held with the Directors of the Company and its staff.
  3. One of our advisors been appointed at the mentioned Company to perform the oversight role on the Company's Departments and to determine the extent to which the Managers of the Company have been complying its internal policies.
  4. We request the Company's Directors to provide our Consultant with monthly performance reports.

  1. We prepared an advisory report included administrative irregularities and errors committed by the Company's Managers and policies to be followed in order to avoid recurrence of such irregularities.
  2. During the first year of our contract with the company, we have noticed a great change in both managerial and supervisory level of the Company resulted from full compliance with all administrative policies that we have set before.

Factory of plastic pipes and fittings:

Management and development of the factory along with developing strategies for management, marketing and sales, and raising the low competitiveness in some GCC.

  1. Moved to the factory headquarter to hand over, and held many & periodic meetings with the General Manager of the Factory, and various departments heads, and viewed the organizational structure and list of the statute of the Factory and developed new administrative policies.
  2. Executed a comprehensive inventory for all the factory’s assets including; machinery, equipment, and raw materials used for manufacturing plastic pipes and PVC. Another inventory of the stock of ready pipes production has been done in addition to an inventory of the offices' furniture, computers and lab's equipment and workshop of manufacturing the molds machines that used for the production of pipes of different sizes and diameters.
  3. Appointed a specialized engineer, consultant of the group, and 2 employees to oversee the production process as well as appointing an accountant to oversee the accounts, recording and reviewing all financial statements of the Factory and examine the documents used on a daily basis. In addition, we have appointed staff from our office to analyze its received data and finance & accounting & administrative results that they receive from their colleagues who attend regularly full time at the Factory.
  4. Examined the accounting recording process in addition to the prepared financial statements of the factory. Whereas we receive papers and documents of the Company, and sales data, expenses and purchases on a monthly basis so that we can assess the financial & accounting situation and preparation of financial & accounting statements which enabled us to prepare the budget for the Factory.
  5. Examined and considered all the previous audited financial statements until the year ending in 31/12/2010, and analyzed data in order to determine the changes of the Company's assets and whether they matched its liabilities or not.
  6. Reviewed the accounting records of the Company since its establishment up to date, and matched them with the audited financial statements. This helped us to extract indicators for the changes of the assets and liabilities, income and expenses, to match expenses with the revenue of the Company and to take the necessary actions and steps to increase the sales and the income generated to achieve higher profit ratios.
  7. Reviewed the legal status of the staff' for their passports and visas, and calculated their accruals.
  8. Reviewed the balances of the receivables and the accruals for all suppliers and banks, in order to put a strategic plan to collect the receivables and to pay the accruals.

The following diagram shows the result of our efforts in managing and developing of the Factory during the first year of the assignment:

Agency of European and American cars in Bahrain:

To administrate the Agency and to develop Strategies for Marketing and Sales Department to raise the level of the Agency' sales.

  1. Moved to the company's headquarter to hand over, many & periodic meetings were held with the General Manager of the Company and the various Department Heads, and reviewed at the organizational structure and the list of the statute of the Company and the development of a new administrative policies in line with the company's activity.
  2. A comprehensive inventory of all assets of the Company including cars, spare parts and maintenance equipments for the machines inside the repair shop, plumbing and painting, as will as inventory of furniture and equipment in the company's administrative offices.
  3. Had several meetings with the officials and managers of the company' departments, and provided them with our instructions regarding managing and organizing the work within the company. A technical expert in the field of cars appointed (Consultant of the Group).

    We appointed two officers and one accountant from our office to work within the Company to pursue the issues of custodian and the company's business. Also, staff within our office to record and analyze the data provided by their colleagues appointed in the Company and attended full time.

  4. Viewed and examined all accounting records pertained to the business of the Company to make sure that every transaction recorded.
  5. Examined and reviewed all of the company's audited financial statements until the year ending in 31/12/2010, and analyzed its data in order to determine the changes of the Company's assets and its liabilities.
  6. Because there was another agent in Bahrain dealing in the same brands that distributed by our agency, we developed a marketing plan with the help of specialized consultants in marketing and advertising aimed to raise the level of sales and distribution of cars and spare parts. We also aimed to improve the services provided by the Company regarding after sale and maintenance services.
  7. Reviewed the accounting records of the Company since its establishment up to date, and matched them with the audited financial statements. This helped us to extract indicators for the changes of the assets and liabilities, income and expenses, to match expenses with the revenue of the Company and to take the necessary actions and steps to increase the sales and the income generated to achieve higher profit ratios.
  8. Reviewed the balances of the receivables and the accruals for all suppliers and banks, in order to put a strategic plan to collect the receivables and to pay the accruals.
  9. Reviewed the legal status of the staff' for their passports and visas, and calculated their accruals.

The following diagram shows the result of our efforts in managing and developing of the Factory during the first year of the assignment:

A Holding Company (B.S.C) in Bahrain:

Studying the accounting & administrative status of a holding company (B.S.C) and its subsidiaries.

  1. Examined the organization’s structure and regulations of the statute and reviewed all the documents belonging to the Holding Company and its Subsidiaries. In addition, we examined all the transactions with the official & the unofficial authorities with the subsidiaries. Furthermore, we also inspected the digital data recorded in the Subsidiaries, and had several meetings with the Boards of Directors and managers of those companies.
  2. Reviewed all contracts and agreements between the Subsidiaries and the other companies and authorities, and matched those contracts and agreements with the laws in force in the Kingdom of Bahrain.
  3. Inspected and reviewed the accounting software entries and records of the subsidiaries, and compared those data with the subsidiaries bank accounts in various banks and with the registered ledger accounts.

  1. Prepared an advisory report including the administrative and accounting situation.
  2. Highlighted the core problems and errors resulted from the Holding Company’s internal policies applied and transactions between it and the subsidiaries and other companies and authorities.
  3. Set some technical proposals that welcomed by the Boards of the Holding Company and its Subsidiaries and being implemented now.

Courts' Administration:

preparing of Banking experts, accounting, statistical, technical, and bankruptcy reports. The court appointed us as legal liquidator in many lawsuits for various banks and companies of all kinds, and activities, and keeping legal custodians and as Trustees of bankruptcy on persons and companies.

Different procedures of reports preparation were followed according to the nature of each and every task.

We were honored to prepare more than 1000 reports during a thirteen years of work with the Courts' Administration of the Kingdom of Bahrain, where the courts issued judgments consistent with our findings, with a ratio of about 90% of those reports.

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