CEO of «Samruk-Kazyna» JSC shared the first results of the transformation program in Singapore and met with the head of Khazanah Nasional Berhad in Malaysia
Astana, August 19, 2016. CEO of «Samruk-Kazyna» JSC (hereinafter - the Fund) Umirzak Shukeyev made a speech before the participants of the “Stewardship Asia RoundTable 2016», which took place in Singapore on 16-17 August 2016. Among the speakers were the Chairman of the Temasek Holdings Mr Lim Boon Heng, who talked about «Tripartism: Stewardship-in-action», the CEO of the Stewardship Asia Centre Mr Ong Boon Hwee, former Prime Minister of the Republic of Korea Dr Han Seung-soo, publisher of Forbes Magazine Mr Rich Karlgaard and others. Among the invited guests was the Deputy Prime Minister and Coordinating Minister for National Security of Singapore Teo Chee Hean, who delivered a speech on «Stewardship for the Future ».
«Less than two years passed since the launch of the Fund's transformation program, but we have some results,» Mr Shukeyev said. «The New Corporate Governance Code has been developed, which complies with OECD standards. A new business model of the Fund is in place – strategic holding with empowered Boards in Portfolio companies. We are actively optimizing our assets and contributing to ongoing government's privatization program aiming to reduce state’s participation in the economy. I am confident that in several years we will see a completely different Samruk-Kazyna. We are now building a reliable foundation for the further development of Kazakhstan’s economy».
The head of «Samruk-Kazyna» JSC had also a meeting in Kuala Lumpur with the Managing Director of Khazanah Nasional Berhad Tan Sri Dato' Azman Mokhtar. The parties discussed the possibilities of cooperation in the fields of agrifood, healthcare, innovation and technology as well as sustainable development.
Notes to Editors: Stewardship Asia Centre, which is a thought leadership centre funded by a grant from Temasek Holdings, works with reliable partners around the world, including national companies, corporations, institutional investors, to create platforms for mutual knowledge sharing and promoting of the best practices in the field of strategy, corporate governance and sustainable development to increase the contribution in the development of Asian countries over the long term.
The Stewardship Asia Roundtable is platform that brings together the region’s influential thinkers and leaders for a dynamic exchange of ideas on advocating sound stewardship and governance in their organisations and businesses. Participation in this exclusive platform is by invitation only.
Temasek Holdings is an investment company owned by the Government of Singapore, operated on commercial principles and governed by its independent Board of Directors. It is an active shareholder and investor, and its portfolio covers a broad spectrum of sectors including financial services, telecommunications, media and technology, transportation and industrial, life sciences, consumer, real estate, as well as energy and resources.
Khazanah Nasional Berhad (KNB) is the strategic investment fund of the Government of Malaysia. KNB holds equity stakes in Malaysian companies of strategic importance to the country in sectors such as aviation, financial services, power and telecommunications. KNB also invests in new sectors and geographies to support the transformation of the Malaysian economy e.g. agrifood, creative & media, healthcare, innovation & technology, life sciences, sustainable development.