Decision No. 131/2004/QĐ-BCN on transforming the Southern Agricultural Machinery Company into the Southern Agricultural Machinery State-owned Joint Stock Company with One Member

Pursuant to …;

Regarding the conversion of the South Agricultural Machinery Corporation into the South Agricultural Machinery Joint Stock Company with State Capital

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 the Government Decree No. 63/2001/NĐ-CP dated September 14, 2001 on the transformation of state-owned enterprises and enterprises of political organizations and political-social organizations into Joint Stock Companies with One Member;

Pursuant to the Prime Minister's Decision No. 125/QĐ-TTg dated January 28, 2003 approving the overall restructuring and modernization plan for state-owned corporations and state-owned enterprises under the Ministry of Industry for the period 2003-2005;

Considering the proposal of the Vietnam Engine and Agricultural Machinery Corporation at Document No. 597/MĐL-NN/ĐMDN dated October 29, 2004 and the dossier on the conversion of the South Agricultural Machinery Corporation into the South Agricultural Machinery Joint Stock Company with State Capital;

At the suggestion of the Director of the Department of Organization and Cadres,

DECISION:

Article 1. Convert the South Agricultural Machinery Corporation, an independent accounting member enterprise under the Vietnam Engine and Agricultural Machinery Corporation, into the South Agricultural Machinery Joint Stock Company with State Capital.

The South Agricultural Machinery Joint Stock Company with State Capital (referred to as the Company) shall have its own seal, be allowed to open accounts at banks in accordance with the law, and operate in accordance with the Enterprise Law and the Company Charter approved by the Board of Directors of the Vietnam Engine and Agricultural Machinery Corporation.

- Full name:  South Agricultural Machinery Joint Stock Company with State Capital

- Abbreviation:  South Agricultural Machinery Corporation;

- International trade name in English:  Southern Agricultural Machinery Limited Company.

- English abbreviation:  Vikyno Co. Ltd.

- Main office location:  Ward 1, Binh Da Ward, Bien Hoa City, Dong Nai Province.

- Registered capital of the Company:  74,336,702,982 VND (Seventy-four billion three hundred thirty-six million seven hundred two thousand nine hundred eighty-two VND).

Article 2. Business activities of the Company:

- Research, design, manufacture, and trade in various types of internal combustion engines, agricultural machinery, and mechanical spare parts serving industry, agriculture, forestry, and fisheries.;

- Import and export of various types of equipment, tools, spare parts, and materials;

- Other businesses as prescribed by law.

Article 3.Organization and operation of the Company:

1. The organizational structure of the Company includes:

a) Chairman of the Company;

b) Director of the Company and supporting staff;

c) Subordinate units of the Company.

2. The organization and operation of the Company are specifically regulated in the Company's Charter on organization and operation.

Article 4. The State-authorized representative as the owner:

Board of Directors of the Machine and Agricultural Machinery Corporation.

Address: No. 2 Trieu Quoc Dat Street, Hoan Kiem District, Hanoi City.

The Board of Directors of the Machine and Agricultural Machinery Corporation is responsible for exercising the rights of the owner according to current laws and the Company's Articles of Association.

Article 5. The South Agricultural Machinery Joint Stock Company with State Capital shall be responsible for receiving and effectively utilizing the capital and assets transferred by the Board of Directors of the Vietnam Engine and Agricultural Machinery Corporation to fulfill the mission of developing production and business; inheriting all legitimate rights, interests, and obligations regarding capital, assets, labor, and land from the South Agricultural Machinery Corporation.

Article 6. The Chairman of the South Agricultural Machinery Joint Stock Company with State Capital shall be responsible for drafting the Company Charter to be submitted to the Board of Directors of the Vietnam Engine and Agricultural Machinery Corporation for approval; appointing the General Director, Deputy General Directors, and Chief Accountant of the Company in accordance with the Company Charter and current laws.

Article 7. This Decision takes effect fifteen days from the date of publication in the Official Gazette.

The Head of the Office of the Ministry, the Inspector General of the Ministry, Heads of Departments and Bureaus under the Ministry, the Board of Directors and General Manager of the Vietnam Engine and Agricultural Machinery Corporation, the General Director of the South Agricultural Machinery Corporation, the Chairman and General Director of the South Agricultural Machinery Joint Stock Company with State Capital are responsible for implementing this Decision./.