Decision No. 149/2004/QĐ-TTg On the transfer of Saigon Ship Industry Company under Vietnam Ship Industry Corporation to a State-owned Joint Stock Company with One Member

Pursuant to …;

Regarding the conversion of Saigon Shipbuilding Industry Company under Vietnam Shipbuilding Corporation into a State-owned Joint Stock Company with a single member

PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to the State Enterprise Law dated November 26, 2003;

Considering the proposal of the Board of Directors of Vietnam Shipbuilding Corporation,

DECISION:

Article 1. Convert Saigon Shipbuilding Industry Company, an independent accounting affiliate of Vietnam Shipbuilding Corporation, into a State-owned Joint Stock Company with a single member named Saigon Shipbuilding Industry Company.

The State-owned Joint Stock Company with a single member Saigon Shipbuilding Industry Company (hereinafter referred to as the Company) shall have its own seal, be allowed to open accounts at domestic and foreign banks in accordance with the law, and operate in accordance with the Enterprise Law and the Articles of Association of the Company.

- Full name: State-owned Joint Stock Company with a single member Saigon Shipbuilding Industry Company.

- Short name in Vietnamese: Saigon Shipbuilding Industry Company.

- International trade name: SAIGON SHIPBUILDING INDUSTRY company lIMITED.

- Abbreviation in English: SSIC.

- Registered charter capital: 101,291,175,719 Vietnamese dong.

- Head office: No. 1027 Pham The Hien Street, Ward 5, District 8, Ho Chi Minh City

Article 2. Business sectors:

Technical design and technology, new construction, repair, modification of watercraft, transportation means, marine equipment and industrial ship products; design, installation, repair of high-tech and safety equipment; consulting on design modification, construction supervision, investment project planning, inspection of various transportation means; inland and maritime transport business; import and export of industrial ship technical materials; design software; software supply agency; provision of related technical services for design, manufacture, and restoration of various transportation means... and other business sectors as prescribed by law.

Article 3. Organization and operation:

1. The management structure of the Company follows the model of Chairman, General Director, and supporting staff.

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

Article 4. The State-owned Joint Stock Company with a single member Saigon Shipbuilding Industry Company is represented by the Board of Directors of Vietnam Shipbuilding Corporation.

The Board of Directors of Vietnam Shipbuilding Corporation is responsible for exercising the rights of the owner according to current regulations and the Articles of Association of the Company.

Article 5. The State-owned Joint Stock Company with a single member Saigon Shipbuilding Industry Company is responsible for receiving and effectively utilizing the capital and assets transferred by the Board of Directors of Vietnam Shipbuilding Corporation to fulfill production and business development tasks; inheriting all rights and obligations of the Saigon Shipbuilding Industry Company.

Article 6. The Chairman and General Director of the State-owned Joint Stock Company with a single member Saigon Shipbuilding Industry Company are responsible for drafting the organizational and operational regulations of the Company to be submitted to the Board of Directors of Vietnam Shipbuilding Corporation for approval.

Article 7. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.

The Board of Directors of Vietnam Shipbuilding Corporation, the Director of Saigon Shipbuilding Industry Company, and the Chairman and General Director of the State-owned Joint Stock Company with a single member Saigon Shipbuilding Industry Company are responsible for implementing this Decision.