You can only elevate individual performance by elevating that of the entire system.
Corporate governance principles are determined in the Corporate Governance Code of Kazyna Capital Management JSC, approved by the resolution of the Management Board of National Management Holding Baiterek JSC dated 20 January 2015, Minutes No. 01/15. Fundamental principles include:
We ensure the timely disclosure of reliable information related to the business of Kazyna Capital Management JSC, including its financial position, economic performance, business results, structure of ownership and management.
Kazyna Capital Management JSC operates in strict compliance with the applicable laws of the Republic of Kazakhstan, generally accepted principles of business ethics, Articles of Association, provisions of the Corporate Governance Code and its contractual obligations.
Kazyna Capital Management JSC recognizes and respects the rights of all stakeholders and seeks to cooperate in order to develop and ensure the financial sustainability.
«When a risk occurs, with some ingenuity, this may open up an opportunity, and conversely when pursuing an opportunity there will be associated risks. Risks are generally deemed acceptable if the possible gains exceed the possible losses.When a risk occurs, with some ingenuity, this may open up an opportunity, and conversely when pursuing an opportunity there will be associated risks. Risks are generally deemed acceptable if the possible gains exceed the possible losses.»
In February 2017 the restated Risk Management Policy was approved reflecting the vision, targets and objectives of the corporate risk management system, defining the core principles of the risk management process, risk management structure, basic components of the risk management system, providing
We contribute a lot to identify potential risks associated with our business and take all efforts to minimize thereof. Kazyna Capital Management JSC has the Risk Analysis and Management Service, Audit and Risk Committee under the Board of Directors. Risk Analysis and Management Service on a quarterly basis reports to the Management Board and Audit and Risk Committee under the Board of Directors.
Risk management is an integral component of the corporate culture in KCM. The risk management system is targeted on identification on a timely manner and reduction of key risks with a view to minimize potential loss from implementation thereof.
Risk management system is built on a balanced system of both management of individual types of risks and consideration of elements of the Company’s aggregate risk. Complex risk management structure enables more efficiently to evaluate and analyze all inherent risks.
We are aware of our social responsibility to employees, partners, society and future generations. Kazyna Capital Management JSC on a constant basis expresses its readiness to make a voluntary contribution to the development of society in social, economic and environmental areas directly related to our core business and exceeding the minimum determined by the law. Key tasks and activities are specified in the Policy of Corporate Social Responsibility of Kazyna Capital Management JSC.
Supporting and following human rights proclaimed by the international society.
Prohibition of all forms of forced labor; elimination of discrimination in the area of labor and employment; ensuring the safety of employees’ working conditions, health programs and social support of employees; stimulation, professional development of employees; development of appropriate corporate culture.
Preventing negative impacts on the environment; promoting the development and distribution of environmentally sound technologies; initiatives to use alternative energy sources, reducing energy consumption and improving energy efficiency.
Development of industries oriented to the interests of society; contribution to the development of local communities, in particular through creation of mutually beneficial social partnerships; assistance in strengthening long-term economic stability and competitiveness of Kazakhstan’s economy
Carrying out various activities aimed at supporting socially unprotected layer of population; providing material, charitable and sponsorship assistance to individuals and non-profit organizations.
Systematic approach to building mutually beneficial relationship with all stakeholders based on ethical requirements; impeccable compliance with legislation; compliance with investor and customer agreements; following principles of fair competition.
Disclosure of information concerning results of Kazyna Capital Management JSC’s business and development plans; timely disclosure of information regarding current events that may have an impact on decisions made by Company’s interested parties; compliance with the prohibition on illegal use of confidential information; anti-corruption efforts.
16th of August 2017 saw the approval of the restated Articles of Association of Kazyna Capital Management JSC by resolution of the Management Board of National Managing Holding «Baiterek» JSC.
On 24th of May 2017 Management Board of National Managing Holding «Baiterek» JSC took into consideration an approval of annual audited, separate and consolidated financial statements of Kazyna Capital Management JSC for the year ended 31 December 2016. National Managing Holding «Baiterek» JSC also took into account the information related to the shareholder’s appeals in relation to activities of Kazyna Capital Management JSC and its officials in 2016. In addition, National Managing Holding «Baiterek» JSC took into consideration amount and structure of remuneration of members of the Board of Directors and the Management Board of Kazyna Capital Management JSC.
An audit company for Kazyna Capital Management JSC is selected in accordance with the Rules for procurement of goods, works and services.
Since 2014 external audit of the financial statements of Kazyna Capital Management JSC was made by audit company LLP KPMG Audit. The current long-term agreement for the audit of financial statements of Kazyna Capital Management JSC is valid for the period of 2014-2018.
Kazyna Capital Management JSC also purchased the consulting services from KPMG Audit LLP, specifically review of tax liabilities of KCM in 2017.