Decision No. 157/1999/QD-TTg of the Government Chairman on the conversion of Southern Container Company into a Joint Stock Company, stipulates the proportion of shares for the State, employees, non-enterprise entities, and foreign investors; name, headquarters, business sectors, and responsibilities to be implemented.
Key points
- Southern Container Company is converted into a Joint Stock Company with a charter capital of 30,000,000,000 VND, including: The State holds 30%, employees 55%, non-enterprise entities 5%, and foreign investors 10%. (Article 1)
- Southern Container Company is converted into a Joint Stock Company with the full name of Southern Container Joint Stock Company, headquartered at No. 11 Nguyen Hue Street, District 1, Ho Chi Minh City. (Article 2)
- Southern Container Joint Stock Company operates in sectors such as warehouse exploitation, domestic customs clearance ports, and cargo handling services; leasing and renting infrastructure and specialized equipment for loading, storage, and transportation of goods. (Article 3)
- Southern Container Joint Stock Company is a legal entity under Vietnamese law from the date of business registration, implements independent economic accounting, has its own seal and bank account. (Article 4)
- The General Director and Chief Accountant of Southern Container Company are responsible for managing the company's operations until they hand over to the Board of Directors of Southern Container Joint Stock Company. (Article 4)
🌐 Social impact of this document
- Positive impact: Improving business efficiency and enhancing competitive capacity through the transformation into a joint stock company.
- Negative impact: Employees may face difficulties in holding preferential shares, affecting current benefits.
❓ Frequently asked questions
When was Southern Container Company converted into a joint stock company?
This decision takes effect from the date of signing. (Article 4)
What is the shareholding ratio of the State and employees in Southern Container Company?
The State's shareholding ratio is 30%, and employees' is 55%. (Article 1)
What is the full name of Southern Container Joint Stock Company after the conversion?
The full name is Southern Container Joint Stock Company. (Article 2)
In which sectors does Southern Container Joint Stock Company operate?
Operating in sectors such as warehouse exploitation, domestic customs clearance ports, and cargo handling services; leasing and renting infrastructure and specialized equipment for loading, storage, and transportation of goods. (Article 3)
What responsibilities does the General Director of Southern Container Company have after this decision is implemented?
The General Director and Chief Accountant of Southern Container Company are responsible for managing the company's operations until they hand over to the Board of Directors of Southern Container Joint Stock Company. (Article 4)
Full text
DECISION OF THE PRIME MINISTER
Regarding the conversion of the Southern Container Company into a Joint Stock Company
________________________
PRIME MINISTER
Pursuant to the Government Organization Law dated September 30, 1992;
Pursuant to Decree No. 44/NĐ-CP dated June 29, 1998 of the Government on converting state-owned enterprises into joint stock companies;
Pursuant to Decision No. 145/1999/QĐ-TTg dated June 28, 1999 of the Prime Minister on the issuance of regulations for selling shares to foreign investors;
At the proposal of the Board of Directors of the Vietnam Shipping总公司局，
DECISION:
Article 1. Approves the plan for the shareholding reform of the state-owned enterprise, the Southern Container Company under the Vietnam Shipping总公司局，in accordance with Circular No. 584/QHQT dated June 17, 1999 and Circular No. 687/QHQT dated July 5, 1999.
1. Charter Capital: 30,000,000,000 Vietnamese dong.
Where:
State Shareholding Ratio: 30% of the Charter Capital,
Shareholding Ratio sold to employees within the enterprise: 55% of the Charter Capital,
Shareholding Ratio sold to entities outside the enterprise: 5% of the Charter Capital,
Shareholding Ratio sold to foreign investors: 10% of the Charter Capital.
2. The actual value of the Southern Container Company at the time of 00:00 on January 1, 1999 for shareholding reform is 52,208,303,283 Vietnamese dong (fifty-two billion two hundred eight million three hundred three thousand two hundred eighty-three Vietnamese dong); of which the actual value of the state capital portion in the enterprise is 25,215,691,352 Vietnamese dong (twenty-five billion two hundred fifteen million six hundred ninety-one thousand three hundred fifty-two Vietnamese dong).
3. Preferential Value for Employees within the Enterprise:
Total number of shares offered at preferential prices to employees within the enterprise is 34,868 shares. The preferential value amount is 1,046,040,000 Vietnamese dong (one billion four hundred sixty-four thousand Vietnamese dong).
Article 2. Convert the state-owned enterprise: Southern Container Company into a Joint Stock Company:
Full name in Vietnamese: Southern Container Joint Stock Company.
International Name: South Vietnam Container Shipping Joint Stock Company.
Abbreviation: Viconship Saigon.
Main Office Address: No. 11 Nguyen Hue Street, District 1, Ho Chi Minh City.
Article 3. The Southern Container Joint Stock Company operates in the following main industries:
Operating warehousing, port clearance, and domestic service handling of goods.
Leasing and subleasing infrastructure, specialized equipment for loading, storage, and transportation of goods. Operating office space and related services.
Organizing and implementing multimodal transport services for containers and other types of cargo.
Providing agency services: Containers, ships, intermodal transport, cargo handling, air freight, brokerage, and supply of ships.
Building new and repairing: Containers, loading and unloading equipment, water and land transportation equipment.
Article 4. The Southern Container Joint Stock Company:
Is a legal entity under Vietnamese law from the date of business registration, implements independent economic accounting, has its own seal, and is allowed to open bank accounts according to the law. Operates according to the Company's Articles of Association and the Law on Enterprises (Business Law).
The Director and Chief Accountant of the Southern Container Company are responsible for managing the company's operations until the handover to the Board of Directors and General Manager of the Southern Container Joint Stock Company.
Article 4. This Decision takes effect from the date of signature. Previous decisions contrary to this Decision are abolished. The Board of Directors of the Vietnam Shipping总公司局，the Director of the Southern Container Company, the Board of Directors of the Southern Container Joint Stock Company, and the heads of relevant units are responsible for implementing this Decision./.
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DEPUTY PRIME MINISTER Ngo Xuan Loc |
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