KazMunayGas Annual Report 2019 Receives Several Awards
JSC NC “KazMunayGas” Annual Report 2019 entered the world’s best reports rating.
KMG became the only Kazakhstan company to enter the Comprend analytics list. 350 out of 1000 contender companies made it into the final round, where KMG ranked 263 with a B rating.
KMG Annual Report includes information on the outcomes of financial, economic and production activities, corporate social responsibility and sustainable development. This year’s rating was held for the 24th time. In the course of assessment, the international group of experts reviewed such disclosures as communication and style, operating activities and sustainable development, strategy and leadership, financial performance, investments and management. Comprend (until April 2020 – ReportWatch) is an international independent rating of annual reports, which was launched in 1996. The rating objective is to review the best practices in preparing annual reports for the sake of raising international financial and corporate reporting standards, bettering corporate communications and investor relations.
Furthermore, the KMG Annual Report was nominated as “The best annual report of a foreign company” in the annual competition of annual reports held by Moscow Exchange PJSC. This is the most reputable award in Russia in the field of corporate reporting. The competition helps raise the transparency level of companies, boost the efficiency of disclosures to investors and clients as well as establish a higher corporate culture. 111 companies participated in the competition, of which only 14 entities were nominated: 4 main awards and 10 additional awards. The panel of judges consisted of the representatives of major investment funds, professional associations, public organisations and regulatory bodies, leading financial analysts, experts in corporate management and communications.
It should also be noted that the interactive version of the KMG Annual Report was honoured by the international ARC Awards (Annual Report Competition). ARC Awards has been hosted by MerComm Inc. annually since 1987, it is positioned as the world’s biggest annual report competition and a platform for introducing the highest standards in this industry.
“The awards received by KazMunayGas are, first of all, a recognition of the results of the company efforts aimed at improving communications with stakeholders, including interaction with the investment community, aspiring to meet the best practices of the global industry leaders and improve the transparency of the company activities. Second, this is a concerted team effort where each team member contributed to the company’s common cause. We are glad that international experts highly evaluated the results of our work. It’s yet another proof of our movement in the right direction,” Aigul Beknazarova, Director of Finance Department, stated.
Note that KMG reports have been winners and laureates of annual report competitions and ratings more than a few times. In particular, in December 2019, the KMG Annual Report and KMG Sustainability Report were recognised as the best in the annual report competition 2018 hosted by QRA rating agency and sponsored by Kazakhstan Stock Exchange JSC (KASE). Besides, KASE has awarded KMG with diplomas “For Aspiration for Transparency” in the latest two years.