Experts of Forbes Kazakhstan discuss transformation of «Samruk-Kazyna» JSC

Experts of Forbes Kazakhstan discuss transformation of «Samruk-Kazyna» JSC

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11 June 2015

On June 10, 2015 Astana hosted Forbes Kazakhstan round table on "Transformation of" Samruk-Kazyna" JSC: Will the Fund become Kazakhstan's Temasek?”.

The participants discussed issues of financial management, human resources management, as well as new approaches to the investment activity of «Samruk-Kazyna» JSC.

Chairman of the Management Board of the Fund Umirzak Shukeyev said that transformation program requires the involvement of employees, especially the CEO.

«The transformation involves fundamental reforms in personnel policy. The Fund implemented a strict system of selection of new candidates, transparent competition is conducted on-line at the official website of «Samruk-Kazyna». In addition, the group of companies conducts grading of positions based on the best international practices,» Umirzak Shukeyev told.

Deputy Chairman of the Management Board of «Samruk-Kazyna» JSC Yelena Bakhmutova named three objectives of the fund: increase the value of the assets, involvement in the diversification of the economy and social responsibility.

As the CFO of «Samruk-Kazyna» JSC Nurlan Rakhmetov noted McKinsey company conducted a benchmarking. The survey showed that in terms of the transparency of the financial statements «Samruk-Kazyna» JSC is ahead of global peers, including «Temasek» and «Khazanah».

During the round table Сhief Business Development Director of «Samruk-Kazyna» JSC Berik Beisengaliyev said that the investment portfolio of «Samruk-Kazyna» JSC contains 150 projects worth more than 100 billion US dollars. Their implementation will create about 90 thousand temporary and about 50 thousand permanent jobs. The projects are the basis of such government programs as FIID «Nurly Zhol» and «EXPO-2017».
"Samruk-Kazyna" JSC will review its business processes, will become a strategic holding company and an active investor, Head of the project office for the transformation of "Samruk-Kazyna" Larissa Zyamzina said. The Fund will strengthen its investment unit, fill commercial block by professionals in industrial areas, as well as financial analysts.