CEO of «Samruk-Kazyna» JSC Umirzak Shukeyev met with the Emeritus Senior Minister, Member of Parliament of the Republic of Singapore, former Prime Minister Goh Chok Tong.

The Head of the Fund told about the ongoing transformation program, assets privatization program, as well as the importance of investments in human resources.

«Transformation is a painful process, but in the corporate center we have already passed it. We have updated the personnel and changed half of top managers. The Fund has implemented international standards in HR policy, international standards of business processes are underway in our portfolio companies. We run a large scale privatization program, however, we intend to remain as shareholders of large strategic companies. The Fund plans to strengthen the role of corporate governance, the boards of directors, work on clear KPI (key performance indicators). We clearly know how to do it,» he said during the meeting.

Singaporean guest expressed interest in the Fund’s transformation and privatization programs and suggested to organize business forum on investment in Singapore. He also spoke about the experience of Temasek Holding in the transformation, the implementation of state-owned assets and investments.

«We have conducted full or partial IPO of state companies, invested in both blue chips and completely new foreign projects in emerging markets. Of course, in this case, the risk is high, but at the same time it opens up great opportunities,» Goh Chok Tong noted.

Notes: Goh Chok Tong served in various ministerial positions of Singapore, he headed the Ministry of Trade and Industry, Defence and Health. From 1990 to 2011 he was Prime Minister of the country, since 2004 worked as a Senior Minister and Chairman of the Central Bank of the country. Since 2011 Mr Goh holds the position of Emeritus Senior Minister and Senior Advisor to the Central Bank of Singapore.