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ANNOUNCEMENT ON THE PRINCIPLE COMPLY OR EXPLAIN Joint Stock Company “BIOKIMYO” informs:

24.02.2020

 

ANNOUNCEMENT ON THE PRINCIPLE COMPLY OR EXPLAIN  

Joint Stock Company “BIOKIMYO” informs:

According to the results of the assessment of the corporate governance system of the company of 2019:

State Enterprise “Central Securities Depository” presented a report, conclusion and recommendations on improving the efficiency of the corporate governance system of the company No. 11-15 / 160 OC dated February 12, 2020.

 Based on the results of the assessment of the corporate governance system, the total number of points amounted to 1,060 points, that is 88.3%, and according to the Central Securities Depository, the level of the corporate governance system in BIOKIMYO JSC is recognized as “high” based on the results of the assessment for the first of 2019.

As a result of studying the assessment of corporate governance system identified:  

 

Notes on not following Codex recommendations

Explanation

The long-term strategy of the company is not approved

The company does not have the opportunity to develop a long-term strategy, since the main economic and financial indicators of the strategy depend on the balance of production of finished products, which is approved annually by the Cabinet of Ministers of the Republic of Uzbekistan for one year.

On obtaining a certificate of quality management system

Received the national quality certificate ISO 9001: 2015 and ISO 22000.

The company carries out activities in the production of strategic raw materials sold only to enterprises of the Republic of Uzbekistan. In this regard, a national certificate of quality management was obtained and an audit is conducted once a year.

Based on paragraph 37 of the “Regulation on the certification system of a management system” approved by order of the Director General of the Uzbek Agency for Standardization, Metrology and Certification of January 4, 2016, a quality audit that the relevant ISO standards are applied in the activities of the enterprise should be carried out no more than once a year.

On measures taken to reduce receivables

According to the results of 2019, receivables increased compared to the beginning of the reporting year. There are no overdue receivables and payables. The main reason for the increase in accounts receivable: preliminary purchase of the main raw materials-wheat at the UZEX to ensure the smooth operation of production, 100% prepayment for energy, tax payments to the budget.

 

 

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