Eugene Heng

** ******* *****, #**-**, Riviera Residences Singapore (467203)

Contact No: 9457 1110 (Mobile)

E-Mail: acxt7m@r.postjobfree.com

EXECUTIVE SUMMARY

Over 17 years of Corporate Treasury experience with multinational companies and family offices covering various sector such as shipping, commodities, IT, properties and home furnishing; with more than 7 years of managerial capacity managing more than 15 staffs including daily operations, staff training and career development.

The primary focus has been on cash management; financial risk management; debt capital markets; ship financing; project and structured financing; trade financing; corporate finance; equities/bonds investment; proprietary trading and other Treasury-related projects such as implementation of new Treasury system. Other focus includes Financial Planning & Analysis; Yearly Budgeting and Quarterly Forecasting; Capital Budgeting and Investment Planning.

CAREER OBJECTIVE

My career objective is to be able to lead and run a business organisation towards success and profitability with strategic focus on Treasury aspects. I am always focused on delivering value to any organisation I worked for by putting myself in the shoes of a shareholder or the owner of the business.

Process Efficiency to ensure scalability of the business

Proper Governance and Control to gain trust of business partners, shareholders and employees

Building a world class finance and treasury organisation by leveraging on technology, people, experiences and knowledge

Delivering expertise in financial markets, economics and regulatory updates to capitalise on business opportunities and mitigate potential risk impacts.

MAJOR ACHIEVEMENTS

Leading and structuring an unsecured committed revolving facility of US$400 through a club of 4 banks for IMC Group in 2015

The deal provides additional facilities to bridge investment and acquisition opportunities and additional working capital for the Group

Securing the first IMC Group’s ECA Financing for 4 multi-purpose vessels from JBIC in Japan in 2015

The deal places IMC Group in a strategic position with various core banks and provides the opportunities to expand the banking relationships with many Japanese banks

Successfully structured and secured US$210m club facility for 8 new multi-purpose vessels in a difficult ship finance market in 2012 for China Navigation. The transaction strengthen the company/group’s banking relationship, optimizing company’s balance sheet and enhances the company’s capacity to expand their capital expenditure and investment in a difficult market

Successfully improved China Navigation’s working capital and cash flow by leading the Accounts Receivables team in bringing the DSO from 35 to 25 days within 6 months; implementing cash pooling to improve cash visibility; and streamlining Accounts Payables processes.

Successfully implemented new Treasury system (Sungard Integrity) within Kuok group Treasury covering the whole spectrum from cash management, risk management, SWIFT and accounting issues within 6 months. The success of implementation greatly increases the efficiency from front, middle, back office to accounting.

CAREER EXPERIENCE

IMC Pan Asia Alliance Pte Ltd (Feb 2014 – Jul 2016)

Industry:

Dry and Liquid Bulk Shipping, Logistics Solutions, Commodities Supply Chain, Plantations, Property and Hospitality

Head, Group Treasury

(Group Treasurer Role)

Key Responsibilities:

Staff Management

Oversees Corporate Finance (Front Office) and Treasury Operations (Middle and Back Office) in head office

Coordinate with other countries’ Treasurers and ensuring Treasury processes are aligned to Group Treasury

Delegates job responsibilities among the teams and ensure coordination across to Finance and Controllership, Business Planning and all Business Units

Organize staff training and development, performance appraisals and setting various KPIs for performance measurement and align with Group’s mission and business objectives

Treasury Management

Align Group Treasury’s responsibilities and objectives to support across all business units in terms of funding, investments, risk management and business/project evaluations

Structure treasury solutions for each business unit’s funding requirements to optimize IRR and improve cash flow

Project financing and structured financing via various options such as tax lease, sales and leaseback, bi-lateral arrangement, syndication, club deal, etc.

Setting up adequate short and long term revolving facilities / term loans to support the Group’s capital expenditures, acquisitions, investment opportunities and other potential projects

Setting up MTN program to seek alternative source of funding in view of higher cost of funds from the Financial Institutions

Participate in subsidiaries’ IPO plan

Develop Financial Risk Management Framework to optimize hedging solutions covering foreign exchange, interest rate, bunkers and commodities

Enhance yields/returns on surplus cash within pre-defined risk limits

Seek investment opportunities, arbitrage strategies, cost reduction solutions to add value to the Group

Managing a portfolio of US$30m in equities/bonds investments and FX/FX options trading to increase profitability for the company

Manage and develop new/existing banking relationships

Process Management

Review Group Treasury Policy, Local Treasury Polices, Treasury Procedures Manual, Authority Manual and Treasury System Operational Documents

Regular review with the team on the processes to streamline and improve efficiency. Ensuring that the Procedures Manual is updated after each review.

Optimizing the Treasury System (i.e. Sungard Integrity) to streamline processes and improve efficiency within Treasury and Finance function

The China Navigation Company Pte Ltd – Swire Group (Sep 2010 – Jan 2014)

Industry: Liner and Dry Bulk Shipping

Senior Treasury Manager

(Group Treasurer Role)

Key Responsibilities:

Staff Management

Oversees various finance functions which include Account Payables (4 staffs), Account Receivables (5 staffs), Credit Risk Desk (2 staffs), Cash and Bank team (2 staffs) and Treasury team (2 staffs).

Delegates job responsibilities among the teams and ensure coordination across various functions by streamlining each process.

Organize staff training and development, performance appraisals and setting various KPIs for performance measurement and align with company’s long term business objectives

Treasury Management

Set up and manage the Treasury Function for the company by introducing Cash Pooling mechanism, setting up bank accounts structure, improvising currencies and bunker hedging model and fine-tuning the Cash Flow forecasting reports.

Enhance returns on surplus funds within pre-defined risk limits

Monthly Treasury meeting with the Management team for updates on cash planning, hedging (FX, bunkers, Interest Rate, FFA and scrap steel), capital budgeting, investment planning, economic outlook and other treasury projects.

Project financing and structured financing such as vessel financing via various options such as tax lease, sales and leaseback, bi-lateral arrangement, syndication, club deal, etc.

Successfully raised US$210m facility via a club deal of 4 banks in a difficult ship finance market at better than market price.

Ensure all financial covenants on loan agreements are not breached and handles potential breaches if any.

Managing Banking Relationships: Setting up ISDA, cash pooling and credit facilities, structuring and negotiating on long term vessel financing options, loan documentation.

Providing Treasury advice and support to subsidiaries and related Joint Ventures which include raising funds/financing, cash management and banking matters.

Set up and manage the Credit Risk desk for counterparty risk monitoring, customers’ credit application/monitoring using quantitative and qualitative methodology.

Capital Budgeting and Investment Planning

Participate and advise on all investment opportunities in terms of financing options, project viability and risk management.

Financial modeling for 10year business projection for fund raising, investment planning and optimizing capital structure to meet the company’s financial objectives

NPV and IRR project analysis and valuation for all investments including Merger and Acquisition, new and/or second hand ship purchase, sales and leaseback valuation and group tax structures.

Annual review on group’s WACC (Weighted Average Cost of Capital) and ROIC (Return on Invested Capital) for investment purposes

Process Management

Setting and documenting Treasury policy, Credit Policy, AP and AR procedures, Cash and Bank procedures.

Process owner of the Accounting Manual for Treasury, AP, AR, Credit Risk, Cash and Bank processes.

Regular review with the teams on the processes to streamline and improve efficiency. Ensuring that the Accounting Manual is updated after reviews.

Oversees the Process Outsourcing to India for non-critical AP/AR/Cash and Bank tasks to lower cost, improve efficiency and develop the team in Singapore for more analytical tasks.

Improve working capital/ cash conversion cycle by reducing the debtors’ days, improving credit controls and optimizing the cash management process.

Coordinating Group’s Enterprise Risk Management program with the Executives Team.

Participate in all business system (new and existing) reviews to ensure that processes can be streamlined within the various finance functions.

Reporting

Review Weekly and Monthly Cash Flow Forecast reports for Executives Team and to Head office in London.

Providing monthly commentaries on Treasury matters to Executives Team including financing plan, capital budgeting, hedging P/L and banking matters.

Review and submit a monthly Treasury report to Executives Team and Head office in London highlighting cash position, money market investments, hedging P/L, scenario analysis on financial risk including foreign exchange and bunkers.

Prepares 5 years Capital Budgeting/ Investment Planning report on a monthly basis for Executives Team and the Board.

Prepares Board Papers relating to financing, capital budgeting and hedging matters.

Prepares and review yearly budgeting (3 year plan) and quarterly forecasting reports.

Review Credit Risk desk’s credit reviews on all credit customers and report to Executives Team semi-annually.

Review on company’s performance and prepares 5 to 10 years financial forecasts to ensure that company’s financial objectives is aligned.

Kuok Singapore Pte Ltd / Pacific Carriers (Shipping) Ltd (Jul 2008 – Aug 2010)

Industry: Shipping / Commodities / Properties / Investments

Senior Treasury Executive / Senior Trader

(Group Treasury / Proprietary Desk)

Key Responsibilities:

Oversees daily cash management, foreign exchange and interest rate risk management.

Coordinate project financing for property arm and shipping group.

Advise and execution of hedging activities (FX, FFA and Bunkers)

Implementation of new Treasury system (Sungard Integrity) covering all setup, technical issues and straight through processes from front to back office. Project manager for the whole implementation.

Successfully implemented centralization of foreign exchange settlements with external counterparties.

Proprietary trading within limits covering FX, index futures, bond futures, commodities futures, FFA and bunkers.

Providing economic / market report for internal circulation.

Lenovo (Singapore) Pte Ltd (Sep 2007 – Jun 2008)

Industry: PC Maker

FX Manager, Global Treasury Center

Key Responsibilities:

Responsible for global currency risk management for LATAM, EMEA, ASIA and AMERICA region.

Coordinate and execution of currency hedging activities.

Providing economic / market report for internal circulation.

Weekly reporting of outstanding hedge gain/loss and hedge effectiveness review against forecasted business flows to respective region CFOs.

Review on selected Treasury systems and provide assessment and recommendation to Treasurer and CFO.

Provide support to Tax, Cash Accounting on all foreign exchange issues.

IKEA Asia Pacific Pte Ltd (Jan 1998 – Aug 2007)

Industry: Home Furnishing / Retail

Assistant Treasury Manager, Asia Pacific (Jul 2000 – Aug 2007)

Key Responsibilities:

Main coordinator for Supplier Financing Program rolled out with a bank for the whole Asia Pacific region. Expanded and grew the program aggressively in the region by holding suppliers road show together with the bank.

Assess and coordinate internal financing for the suppliers based on business and credit decisions.

Compliance Review for all offices in Asia covering detection of operation irregularities; standardizing certain working processes (best practices) between different offices; working closely with local finance staffs to improve operating procedures; assisting finance managers in preparing and documenting all financial related processes.

Cash and liquidity management for region including short term funding and cash flow forecasting

Active FX risk management using spot, swaps, forwards, NDFs and currency options. Responsible for Asian Currencies portfolio for company. Option trades include plain vanillas, barriers, risk reversal structures, and other exotic options.

Involve in other treasury issues such as conversion of purchase currencies; long term and working capital funding. For long term funding, advise and structure FX hedge if necessary, whereas for interest rate exposure, provide information to head office and discuss on group level before executing hedges, such as interest rate swaps and derivatives.

Maintain facilities documents such as credit facilities, directors' resolution, power of attorney, standard settlement instructions, etc.

Analyze global macroeconomic trends, regional economic and political development (Asia incl. Japan) for structuring hedging strategy and internal circulation.

Gather regulatory updates for different Asian countries, especially in foreign exchange and interest rate issues for management decisions.

Manage banking relationships

Travel around region to coordinate Treasury issues; meet and liaise with banks; information updates from local perspectives. Present and educate local purchasers on Treasury issues/policies.

Finance Executive (Jan 1998 – Jul 2000)

Key Responsibilities:

Consolidate Asian subsidiaries financial reports for management reporting. Financial adjustments for inter-company sales, receivables and payables.

Cross check financial statements from subsidiaries to ensure accuracy and reasonableness.

Cost and margin analysis, and various accounting analytical calculations. Detail descriptions for discrepancies and deviation from forecast and budget.

Monthly sales and costs forecast for whole region based on historical information and each country’s finance managers’ inputs.

Involve in annual budgeting process, coordinate and consolidate budget figures for board meetings.

Prepare presentation materials on financial reporting and budget for Finance Manager.

Article (goods) pricing issues, i.e. freight costs, markup, custom duties.

Product Pricing analysis.

PROFESSIONAL MEMBERSHIP

Member of CFA Institute in U.S. and Singapore

PROFESSIONAL/ACADEMIC QUALIFICATIONS

Chartered Financial Analyst, 2005

Bachelor of Business in Financial Analysis (2nd Lower Honours), Nanyang Technological University, Singapore, 1998

COURSES/TRAINING ATTENDED

I3BAR on Advance Excel Modelling, 2011

Presentation Skills by The British Council, 2001

IT SKILLS

Sungard Quantum and Integrity Treasury System

Reuters 3000Xtra and Reuters Graphic Professionals

Bloomberg

Fenics option pricing program

Microsoft Office (Excel, Words, Powerpoint)

CODA (Financial Reporting System)

TM1

PERSONAL PARTICULARS

Age : 42

Marital Status : Married

Nationality : Singaporean

Languages : English/Chinese

REFERENCES

Available upon request

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