Decision No. 148/2004/QĐ-BCN On the conversion of the Sông Công Diesel Company into the State Capital Joint Stock Company with One Member - Sông Công Diesel

DECISION

Regarding the conversion of the Sông Công Diesel Company into the Sông Công Diesel State-owned Joint Stock Company with One Member

 ____________________________

   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. 63/2001/NĐ-CP dated September 14, 2001 of the Government on the transformation of state-owned enterprises and enterprises of political organizations and political-social organizations into State-owned Joint Stock Companies with One Member;

Pursuant to Decision No. 125/QĐ-TTg dated January 28, 2003 of the Prime Minister approving the overall plan for restructuring and modernizing 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 (Letter No. 618/MĐL-NN/ĐMDN dated November 15, 2004) and the dossier on the conversion of the Sông Công Diesel Company into the Sông Công Diesel State-owned Joint Stock Company with One Member;

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

DECISION:

Article 1. The Sông Công Diesel Company, a member enterprise operating independently under the Vietnam Engine and Agricultural Machinery Corporation, shall be converted into the Sông Công Diesel State-owned Joint Stock Company with One Member.

The Sông Công Diesel State-owned Joint Stock Company with One Member (referred to as the Company) shall have its own seal, open accounts at banks in accordance with the law, and operate in accordance with the Enterprise Law and the Articles of Association of the Company approved by the Board of Directors of the Vietnam Engine and Agricultural Machinery Corporation.

Full name: Sông Công Diesel State-owned Joint Stock Company with One Member

Abbreviation: Sông Công Diesel Company;

International trade name in English: Songcong Diesel Limited Company.

English abbreviation: Disoco. Ltd.

Main office located at: Lương Châu Ward, Sông Công City, Thái Nguyên Province.

Registered capital of the Company: 351,387,000,000 VND (Three hundred fifty-one billion, three hundred eighty-seven million VND).

Article 2. Business activities of the Company:

Designing and manufacturing internal combustion engines, working equipment, and spare parts serving various national economic sectors, steel rolling, automobile engine replacement, industrial construction; Importing and exporting equipment, tools, and spare parts; Engaging in other business activities 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 Sông Công Diesel State-owned Joint Stock Company with One Member shall be responsible for receiving and using effectively 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 lawful rights, interests, and obligations regarding capital, assets, labor, and land of the Sông Công Diesel Company.

Article 6. The Chairman of the Sông Công Diesel State-owned Joint Stock Company with One Member shall be responsible for drafting the Articles of Association of the Company to be submitted for approval by the Board of Directors of the Vietnam Engine and Agricultural Machinery Corporation; appointing the General Director, Deputy General Directors, and Chief Accountant of the Company in accordance with the Articles of Association of the Company and current laws.

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

The Head of the Ministry's Office, 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 Sông Công Diesel Company, the Chairman and General Director of the Sông Công Diesel State-owned Joint Stock Company with One Member are responsible for implementing this Decision.