According to RA RFCA, this rating, first assigned to the Company, reflects the high level of corporate governance and confirms the low risks of the main parameters of its assessment. The basic factors of the rating are a high degree of integrity of the share capital, a high level of reputational responsibility of the Sole Shareholder and compliance of the activities of the Company’s management bodies with the requirements of national legislation. The stable prediction of the corporate governance rating of the Company indicates that, most likely, this rating will remain at the established level before the end of this year.
The corporate governance rating is an important aspect taken into account by investors when selecting an object for investment, as it reflects the extent to which the company executes external requirements to the quality of management and the effectiveness of internal corporate procedures.
The rating assessment of corporate governance assigned by RA RFCA is an independent assessment of the interaction system between the Board of Directors, the executive body and the company’s shareholders, as well as internal control procedures, information disclosure and the personnel policy and social responsibility system of the Company.
The RA RFCA methodology of assigning a corporate governance rating is developed taking into account the G20/OECD corporate governance principles, the recommendations on corporate governance of the International Finance Corporation, the European bank of reconstruction and development, and taking into account the best practices of the international rating agencies “Standard & Poor’s and Moody’s Investors Service”. During analysis of the level of corporate governance, RA RFCA considers the requirements of the legislation of the Republic of Kazakhstan and the national peculiarities of companies.
The corporate governance rating and the results of the Agency’s analysis represent an opinion on the date of their expression and are not a statement of fact or recommendations to buy, hold or sell any securities or make any investment decisions. The corporate governance rating is not an assessment of credit sustainability of the Company.
On “National Managing Holding “KazAgro” JSC
“National Managing Holding “KazAgro” JSC (hereinafter referred to as Holding) was established in accordance with the Decree of the President of the Republic of Kazakhstan dated December 11, 2006 No. 220 “On several issues of development of agro-industrial complex” and the Resolution of the President of the Republic of Kazakhstan dated December 23, 2006 No. 1247 “On measures on realization of the Decree of the President of the Republic of Kazakhstan dated December 11, 2006 No. 220”.
The target of the Holding is to realize the state policy to stimulate the development of the agro-industrial complex of the Republic of Kazakhstan by ensuring the effective management of investment assets and the development of corporate culture in affiliated joint stock companies.
The Holding, being the operator of the most important strategic projects of development of agriculture, is called upon to provide affordable financing of business entities, targeted and efficient use of state and engaged resources, performing further development of industrial, information and service infrastructure of the agro-industrial complex.
On “Rating agency RFCA” JSC
“Rating agency RFCA” JSC is the first national rating agency in Kazakhstan, which specializes in providing services in the field of independent assessment of Kazakhstan companies with assignment of corporate credit rating, corporate governance rating, credit rating of bonds and credibility rating of financial institutions.
Contacts for Mass Media:
Rating agency RFCA
tel. +7 (727) 224-48-41
Press-service “Holding “KazAgro” JSC
tel: (7172) 70-56-39, www.kazagro.kz