KEGOC’s corporate governance level reached 65.7. This rating was assigned by KPMG Tax and Advisory LLC independent consulting company based on the results of corporate governance system diagnostics and is deemed to be sufficiently high in Kazakhstan.
KEGOC’s corporate governance compliance to the world’s best practice was analyzed based on Samruk-Kazyna order for the period from 1 January 2010 to 30 September 2012. Compared to the results of the previous diagnostics (55.4% in 2009) KEGOC demonstrates a steady growth in this area.
Over the last several years the company carried out a significant work on improvement of corporate governance practice where the Sole Shareholder and the company’s Board of Directors played an important role as well. The greatest progress was achieved in such corporate governance components as ‘Processes’ and ‘Transparency’.
The conducted diagnostics was aimed at improving the corporate governance efficiency in Samruk-Kazyna’s subsidiaries through a structured and consistent approach to evaluation and development of their corporate governance systems based on best practice.