Samruk-Energy optimized costs in 2020 by KZT18.5 bn

30.09.20 19:00
/KASE, September 30, 2020/ – Samruk-Energy (Nur-Sultan), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following communique dated September 30, 2020: quote The current expenses and capital expenditures of Samruk-Energy JSC in 2020 were reduced by KZT18.5 bn. Reduction measures are carried out within the framework of the execution of instructions of the Chairman of the Management Board of SWF "Samruk-Kazyna" JSC Akhmetzhan Yesimov, given at the meeting of the operational headquarters of "Samruk-Kazyna" JSC. We remind you that the companies that are part of the structure of "Samruk- Kazyna" were given a wide range of tasks and certain instructions were given, including reduction of costs that do not directly affect their production activities, revision of the organizational structures of the companies, in terms of reducing executive positions and vacancies, etc. As a result of the analysis of the planned costs in 2020, Samruk-Energy JSC has reduced the current costs associated with consulting, audit and legal services, maintenance and updating of software, the cost of creating reserves and costs for vehicles and others. Along with operating expenses, the company revised its capital expenditures, for which optimization is KZT15.8 bn, or 13% of total investment costs. unquote The complete press release is available on: - https://kase.kz/files/emitters/SNRG/snrg_reliz_300920_kz.pdf – in Kazakh; - https://kase.kz/files/emitters/SNRG/snrg_reliz_300920.pdf – in Russian. [2020-09-30]