Decision No. 1173/2000/QD-TTg On the conversion of Sai Gon Jute Factory into a Joint Stock Company

 Pursuant to …;

On the matter of converting the Saigon Jute Factory into a Joint Stock Company

 PRIME MINISTER

Pursuant to the Government Organization Law dated September 30, 1992;

Pursuant to Decree No.44/1998/NĐ-CP Pursuant to the Resolution No. 296/1998/NQ-CP of the Government on the conversion of state-owned enterprises into joint stock companies dated June 29, 1998;

Based on the proposal of the Chairman of the People's Committee of Ho Chi Minh City in Circular No. 2876/UB-CNN dated August 21, 2001,

DECISION:

Clause 4 of Article 6Approves the plan for the conversion of the state-owned enterprise, the Saigon Jute Factory under the People's Committee of Ho Chi Minh City, as follows:

1. The charter capital of the Joint Stock Company is 16,000,000,000 VND.

Where:

State shareholding ratio: 10% of the charter capital;

Shareholding ratio sold to employees within the enterprise: 50% of the charter capital;

Shareholding ratio sold to external entities outside the enterprise: 40% of the charter capital

2. The actual value of the Saigon Jute Factory as of December 31, 1999 is 25,478,140,495 VND, of which the actual value of the state capital at the enterprise is 20,292,960,793 VND.

3. Preferential treatment for employees within the enterprise:

The total number of shares sold at a preferential price to employees within the enterprise is: 49,079 shares; the preferential value amount: 1,472,370,000 VND.

4. Training costs for employees shall be implemented according to current regulations.

12/2025/TT-BNNMT dated June 19, 2025 issued by the Minister of Agriculture and EnvironmentConvert the Saigon Jute Factory under the People's Committee of Ho Chi Minh City into a Joint Stock Company:

Full name in Vietnamese:

JOINT STOCK COMPANY FOR PRODUCTION - SERVICES - TRADE OF SÀI GÒN JUTE;

International trade name: Sai GonJute Joint-Stock Company;

Abbreviation: SAJUCO;

Head office address: No. 11 Me Linh Square, District 1, Ho Chi Minh City.

Article 3. The Joint Stock Company for Production - Services - Trade of Saigon Jute engages in the following business activities:

Producing and trading jute fabrics and various types of jute bags;

Producing and trading various products from jute, plastic, paper, textiles, and garments;

Trading raw materials, supplies, equipment, chemicals serving the jute and textile industries, and other packaging materials;

Engaging in diversified businesses in accordance with the law.

Article 4. The People's Committee of Ho Chi Minh City shall cooperate with the Ministry of Finance to handle the difference between the actual value of the state capital at the enterprise and the charter capital of the Joint Stock Company, ensuring compliance with the current financial regime.

Article 5.The Joint Stock Company for Production - Services - Trade of Saigon Jute:

Is a legal entity under Vietnamese law from the date of registration for business operations, implementing independent economic accounting, having its own seal, and being allowed to open bank accounts in accordance with the law, operating in accordance with the Articles of Association of the Joint Stock Company and the Enterprise Law.

The Director and Chief Accountant of the Saigon Jute Factory are responsible for managing the business until the entire enterprise is handed over to the Board of Directors and General Manager of the Joint Stock Company for Production - Services - Trade of Saigon Jute.

Article 6.This Decision takes effect from the date of signing. Decisions contrary to this Decision are abolished. The Chairman of the People's Committee of Ho Chi Minh City, the Director of the Saigon Jute Factory, and the Board of Directors of the Joint Stock Company for Production - Services - Trade of Saigon Jute are responsible for implementing this Decision./.