Chairman of the Board of NWF Samruk-Kazyna JSC Akhmetzhan Esimov gave a positive assessment of the work of most companies of the Fund’s group in 2019 on the results of their reports.

Chairman of the Board of NWF Samruk-Kazyna JSC Akhmetzhan Esimov gave a positive assessment of the work of most companies of the Fund’s group in 2019 on the results of their reports.

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According to the 2019 operating data, an operating profit (NOPLAT) of KZT 922 billion was received, which is 20.5% or KZT 157 billion more than planned. Net income amounted to KZT 1,256 billion, which is 38% more than planned.

The debt load of JSC Samruk-Kazyna from 2017 to date has decreased by KZT 1 trillion, foreign debt decreased by $ 5.1 billion. Dividends to the shareholder-government amounted to KZT 190 billion or increased by 2 times.

“These results are the implementation of the Fund’s new strategy, approved by Elbasy in April, 2018”, — said Ahmetzhan Yesimov.

At the end of 2019, budget revenues from the Fund’s group of companies amounted to about KZT 1.2 trillion or 10% of all revenues to the consolidated budget of the country.

Transition to the new procurement model with an increase in the share of methods of open tender and request for price proposals, contributed to savings for the reporting period in the amount of KZT 155 billion.

At the end of the meeting the main tasks for 2020 in terms of increasing the efficiency of portfolio companies were defined.

United Chemical Company LLP was established in 2009 by the decision of the Board of Directors of National Welfare Fund Samruk-Kazyna JSC dated November 28, 2008 in execution of the order of the President of the Republic of Kazakhstan, given at the enlarged session of the Government of the Republic of Kazakhstan dated October 13, 2008 on “establishment of a special company that will deal with projects of the chemical industry”.

The only participant is NWF Samruk-Kazyna JSC.