Decision No. 158/2004/QĐ-BCN on the transformation of Construction Installation Electricity Company 3.1 into Construction Installation Electricity Joint Stock Company 3.1

Pursuant to …;

Regarding the transformation of Construction Installation Company 3.1 into

Joint Stock Construction Installation Company 3.1

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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. 64/2002/NĐ-CP dated June 19, 2002 of the Government on the conversion of state-owned enterprises into joint-stock companies;

Considering the proposal of Construction Installation Company 3 (Letter No. 03147 CV/XLĐ3-TCNS&ĐT dated November 30, 2004), the Privatization Plan of Construction Installation Company 3.1, and the Minutes of the Evaluation Meeting of the Enterprise Reform and Development Board of the Ministry on December 3, 2004;

At the proposal of the Enterprise Reform and Development Board and the Director of the Personnel and Organization Department,

DECISION:

Article 1. Approving the Privatization Plan of Construction Installation Company 3.1, a state-owned subsidiary of Construction Installation Company 3, with the main points as follows:

1. Capital structure:

The charter capital of the joint stock company is five billion five hundred million Vietnamese dong (5,500,000,000 VND). Of which:

- State shareholding ratio: 30.00%;

- Shareholding ratio sold to employees within the company: 63.03%;

- Shareholding ratio sold outside the company: 6.97%.

Value of one share: one hundred thousand Vietnamese dong (100,000 VND).

2. The actual value of Construction Installation Company 3.1 at the time of privatization on January 1, 2004 (Decision No. 3203/QĐ-TCKT dated November 30, 2004 of the Ministry of Industry) is fifteen billion seven hundred eighteen million seven hundred sixty thousand three hundred sixteen Vietnamese dong (15,718,760,316 VND). Of which, the actual value of the state's capital in the company is seven billion two hundred eighty-four million two hundred eighty-five thousand six hundred fifty Vietnamese dong (7,284,285,650 VND).

3. Preferential treatment for employees of the Company.

The total number of preferential shares sold to 302 employees within the company is twenty-five thousand seven hundred twenty-six shares with a preferential value of seven hundred seventy-one million seven hundred eighty thousand Vietnamese dong (771,780,000 VND). Among them, twenty-four hundred seventy-eight preferential shares were sold on credit to sixteen poor employees, valued at one hundred seventy-three million four hundred sixty thousand Vietnamese dong (173,460,000 VND).

4. Regarding the privatization costs and the resolution of surplus labor, the company will process the necessary procedures and report to Construction Installation Company 3 and relevant state authorities for approval according to current regulations.

Article 2. Transforming Construction Installation Company 3.1 into Joint Stock Construction Installation Company 3.1,

- English name: POWER CONSTRUCTION JOINT STOCK COMPANY 3.1;

- Abbreviation: PCC 3.1;

- Head office address: No. 489 Nguyen Luong Bang Street, Hoa Hiep Ward, Lien Chieu District, Da Nang City.

Article 3. The joint stock company engages in the following business activities:

- Constructing power grid and substation projects up to 500 kV and power source projects; constructing industrial, civil, transportation, water conservancy, telecommunications, cultural, sports, airport, and port facilities;

- Producing electrical equipment and accessories;

- Exploiting and trading sand, gravel, pebbles, and other construction materials;

- Developing urban housing and infrastructure, industrial zones, export processing zones, high-tech zones, and new economic zones;

- Trading and importing/exporting: raw materials, electrical equipment, construction materials, transportation vehicles, construction machinery;

- Transporting goods; repairing construction machinery and transportation vehicles;

- Manufacturing steel structures, mechanical products, and zinc-plated products; producing concrete products; trading petroleum products;

- Investing in independent power plants; producing and trading electricity;

- Engaging in other businesses in accordance with the provisions of the law.

Article 4. Joint Stock Construction Installation Company 3.1 shall be a legal entity under Vietnamese law from the date of registration for business operations, conducting independent economic accounting; it may use its own seal and open bank accounts in accordance with the law; organize and operate in accordance with the Articles of Association of the joint stock company and the Law on Enterprises.

Article 5. Construction Installation Company 3 is responsible for directing Construction Installation Company 3.1 to organize the sale of shares and convene the first General Meeting of Shareholders of Joint Stock Construction Installation Company 3.1 in accordance with current regulations.

The Director and Chief Accountant of Construction Installation Company 3.1 are responsible for managing the operations of Construction Installation Company 3.1 until the full transfer of capital, assets, and personnel to the Board of Directors and General Manager of Joint Stock Construction Installation Company 3.1.

Article 6. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.

The Head of the Ministry’s Office, the Inspector General of the Ministry, the Heads of Departments and Bureaus under the Ministry, the General Director of Construction Installation Company 3, the Director of Construction Installation Company 3.1, the Board of Directors and General Manager of Joint Stock Construction Installation Company 3.1 are responsible for implementing this Decision./.