Decision No. 100/2004/QĐ-BCN On the conversion of Tan Phu Plastic Factory under Vietnam Plastic Corporation into Tan Phu Plastic Joint Stock Company

Pursuant to …;

Regarding the conversion of Tan Phu Plastic Factory under Vietnam Plastic Joint Stock Company into Tan Phu Plastic Joint Stock Company

THE MINISTER OF INDUSTRY

Pursuant to Decree No. 55/2003/NĐ-CP dated May 28, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Industry;

Pursuant to Decree No. 64/2002/NĐ-CP dated June 19, 2002 of the Government on the conversion of state-owned enterprises into joint-stock companies;

Considering the proposal of Vietnam Plastic Joint Stock Company (document number 598/CV-NVN-VP dated August 25, 2004), the privatization plan for Tan Phu Plastic Factory, and the appraisal report of the Enterprise Reform and Development Board on September 16, 2004;

At the proposal of the Enterprise Reform and Development Board and the Director of the Personnel and Organization Department,

DECISION:

Article 1. Approves the privatization plan for Tan Phu Plastic Factory under Vietnam Plastic Joint Stock Company (a subordinate enterprise of the Ministry of Industry) as follows:

1. Capital structure:

The charter capital of the company is 8,700,000,000 VND (Eight billion seven hundred million VND).

- Shareholding ratio sold outside the company: 10.04%.

- The proportion of shares sold to employees within the factory: 39.68%;

- The proportion of shares sold outside the factory: 9.32%.

The value of one share: 100,000 VND.

2. The actual value of Tan Phu Plastic Factory at the time of privatization on March 31, 2004 (Decision No. 1969/QĐ-TCKT dated July 27, 2004 of the Ministry of Industry) is 47,263,056,529 VND. Of this amount, the actual value of the state-owned capital in the factory is 6,341,376,718 VND.

3. Employee benefits.

The total number of preferential shares sold to 197 employees in the factory is 18,905 shares with a preferential value of 567,150,000 VND.

4. Regarding the privatization costs, retraining of employees, and surplus labor resolution of the factory, Vietnam Plastic Joint Stock Company will handle the procedures, report to the Ministry of Industry, and seek approval from relevant state authorities according to current regulations.

Article 2. Converts Tan Phu Plastic Factory under Vietnam Plastic Joint Stock Company into Tan Phu Plastic Joint Stock Company,

- International trade name: TAN PHU PLASTIC JOINT STOCK COMPANY;

- Abbreviation: TAPLAST;

- Main office address: No. 323 Ly Ban Bich Street, Hoa Thanh Ward, Tan Phu District, Ho Chi Minh City.

Article 3. The joint stock company engages in the following business activities:

- Producing plastic products, packaging materials, spare parts, and components serving industries such as industry, agriculture, fisheries, transportation, construction, postal and telecommunications services, and household use; manufacturing molds and spare parts for the plastic industry;

- Engaging in comprehensive import and export activities: raw materials and production supplies for the plastic industry;

- Engaging in other businesses in accordance with the provisions of the law.

Article 4. Tan Phu Plastic Joint Stock Company is a legal entity under Vietnamese law from the date of registration for business operations, independently accounting for economic activities, using its own seal, opening bank accounts in accordance with the law, operating according to the Company's Charter and the Law on Enterprises.

Article 5. Vietnam Plastic Joint Stock Company shall organize the sale of shares and convene the first General Meeting of Shareholders of Tan Phu Plastic Joint Stock Company in accordance with current regulations.

The General Director and Chief Accountant of Vietnam Plastic Joint Stock Company are responsible for managing the operations of the factory until the transfer of all capital, assets, labor, and facilities to the Board of Directors and General Manager of the joint stock company.

Article 6. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.

The Head of the Ministry's Office, the Inspector General of the Ministry, the Heads of Departments and Bureaus under the Ministry, the General Director of Vietnam Plastic Joint Stock Company, the Director of Tan Phu Plastic Factory, and the Chairman of the Board of Directors and General Manager of Tan Phu Plastic Joint Stock Company are responsible for implementing this Decision.