Mr. Ali Shareef is the Chief Financial Officer (CFO) of HDC and was the acting MD till Mr. Suhail was appointed as the MD under President Solih’s administration. He was hired with the master plan of former MD Saiman as it was difficult for Saiman to do whatever he wanted under the previous finance head. He blindly kept agreeing to everything what Saiman and PYAG administration was proposing, including the heavy loans and unplanned projects through HDC. When Saiman and Ali Shareef joined HDC, it has enough cash flow to pump on infrastructure and it was all due to the previous management and Finance Directors effort.
Sooner he became the closest ally of Saiman, had no idea where the company was moving and what was happening to the cash flow. They have accepted all the unusual proposals from contractors requesting for the release of interim payments, advance payments, etc. Basically, he agrees to anything which Saiman or PYAG administration requests without giving a thought to cash flow. He must take the full responsibility of the company’s cash flow crisis.
Immediately after assigning Bunyamin as the DMD later as the COO, he took the corruption to the next level where he was ordering to Ali Shareef directly to approve bills and payments. Being the head of Finance, he should think of the financial status of the company, however he kept approving things just to secure his position. He has approved financing to sports activities and approved cash withdrawals to those competitions. He acted like a puppet rather than working as the head of finance.
Approximately 35 to 40K he was earning per month when he was the position as Director of Finance. However, saying that they are revising all staff’s salary what they did was increased their salaries to the next level by increasing more than 40% to theirs and just small increment to the junior staffs. Changing his title from Director of Finance to Chief Financial Controller had increased his salary to approx. 72K per month. Taking this salary, he was blindly approving everything risking the company to bankruptcy.
After the election he started to make connections and meetings with MDP and the coalition to remain in the position. He started to make them believe that it was all because of Bunyamin or others and that he has nothing to do with it. But each employee of finance department knows that it was his negligence and through his support the company’s cash flow crisis occurred.
If anyone wants HDC to be how it was, he should be removed first including the rest of HOD’s who took millions of benefits from projects. Lets clean HDC, get rid of all corrupted heads.
Reform HDC 