Sovereign Wealth Fund «Samruk-Kazyna» JSC


Identifying the Internal Reserves of the Companies is one of the Key Objectives of Their Transformation

22.02.2017 19:56
Since December 2015, works on increasing efficiency in the use of current assets of portfolio companies of the Holding are being conducted within the Transformation Programme of Samruk-Kazyna JSC.

Implementation of the project on release of the inventory allowed identifying stock balances at the national companies’ enterprises after completion of capital projects, as well as surplus stock reserves in the warehouses that are not used in the production cycle.

According to Adamas Ilkevicius, Managing Director for Transformation and Special Projects in Samruk-Kazyna JSC, the first company that completed the project implementation was Samruk-Energy JSC. “We conducted a preliminary data analysis of the stock reserves in the warehouses of Samruk-Energy JSC, which showed that the capacity for benefits realization is more than KZT 1 billion. The main reason of build-up of inventories in the company’s warehouses is the inadequacy of the existing project management procedures,” A. Ilkevicius told. However, the real result, as A. Ilkevicius said, significantly exceeded the preliminary calculations. As a result of the inventory of ten subsidiaries of Samruk-Energy JSC, stock balances totaling to KZT 7.5 billion were identified.

 “Inventories identified during the project implementation should include spare parts, building materials, equipment, etc. obtained to implement the large investment projects in accordance with applicable standards, but not used during the operation. Inventories that were transferred to the enterprises during the purchase and transfer of assets should also be attributed to these inventories,” Baglan Issenov, Director of the Generation and Fuel Department in Samruk-Energy, explained. According to the company’s management, more than 95% of identified inventories will be used in the capital projects and operating activity of the subsidiaries of the Holding in 2017-2018. Other inventories are to be sold to the third parties and very small part of intangible values will be disposed.

Similar projects on release of the inventory, which aim to prevent money freezing in the form of stocks, as well as to optimize the warehouses, were also implemented in KazMunayGas NC JSC and Kazatomprom NAC JSC. Automation of accounting and control of distribution of the inventories that is currently being implemented in portfolio companies of Samruk-Kazyna JSC will allow them to effectively plan and use resources and materials in the future. 
Portfolio companies
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