To fully implement its mission and meet requirements of the shareholder and other concerned parties (subsidiaries and affiliates, employees, partners, etc.), the Company has developed and maintained a system for management of subsidiaries and affiliates of ''Samruk-Energy" JSC.
THE OBJECTIVES OF THE MANAGEMENT SYSTEM
observance of the hierarchy of the procedure for examination of issues and making decisions
improve the quality of handling processes for the bodies of SA
timely decision-making by the corporate bodies of “Samruk-Energy” JSC group
enhance the compliance of subsidiaries’ corporate governance level with the best world practice
At the same time, the priority levers for managing Samruk-Energy subsidiaries and affiliates are:
- improvement of SA corporate governance rate through establishment of qualifed Boards of Directors/Supervisory Boards, ensuring the effectiveness of performance of the Boards of Directors/Supervisory Boards and CEOs of SA;
- securing an effective management of SA by setting strategic goals (KPI) of SA, monitoring and assessment of efficiency of implementation of the Development Strategy and the Development Plan of SA;
- creation of single policies, corporate standards and methodological recommendations to ensure unified approaches to key issues across “Samruk-Energy” JSC group, promotion of best practices for management of daily operations at SA;
- providing support and expertise for SA operations in compliance with the current corporate governance principles and within the competence of the Company for the implementation of policies, standards and guidelines, building competencies, improving performance and / or addressing issues of SA;
- promotion of interests of companies group and individual SA in order to accomplish the Company’s strategic goals, add value to the investment portfolio of “Samruk-Energy” JSC group on such issues as government agencies relations, antimonopoly regulation, tariff policy, attracting investors, etc;
- search and implementation of business cooperation to achieve a synergistic effect at the level of “Samruk-Energy” JSC group by searching and offering opportunities for cooperation between SA, for instance, through complementary activities, the creation of service enterprises, shared service centers, to reduce costs, introduce new functional standards, etc.
MANAGEMENT SYSTEM PRINCIPLES
a clear delineation of competencies and powers of the bodies of subsidiaries and affiliates (of a shareholder (of a participant)), the Board of Directors / Supervisory Board, executive body), employees and officials;
a clear delineation of responsibility of the bodies of subsidiaries and affiliates (of a shareholder (of a participant)), the Board of Directors/Supervisory Board, executive body), employees and officials.
The Regulations on “Samruk-Energy” JSC subsidiaries and affiliates relations were updated in 2021. The main changes relate to the competence of the Sole Shareholder / Sole Participant, the General Meeting of Shareholders / General Meeting of Participants, the Board of Directors / Supervisory Board with respect to making decisions on issues that fall within their competence. To improve corporate governance and performance, the Regulations introduces a classification of the Company's subsidiaries and affiliates was depending on the ownership structure and nature of financial and economic activities, asset value, size and complexity of the organizational structure, headcount, and other factors (large and small SA).
The main activities of subsidiaries and affiliates of “SamrukEnergy” JSC are shown in the organizational structure of the companies. The interaction of the main divisions and management principles are regulated in the internal regulatory documents of companies.
During the reporting period, there were no significant changes in the activities and in the supply chain of the group of companies of “Samruk-Energy” JSC.