Decision No. 16/2004/QĐ-BCN of the Ministry of Industry on the transformation of Diêm Hoà Bình Company into May – Diêm Sài Gòn Joint Stock Company, stipulates the charter capital structure, share value, employee benefits, and business activities.
Scope of application
Diêm Hoà Bình Company (now May – Diêm Sài Gòn Joint Stock Company), employees within the company, Vietnam Paper Joint Stock Corporation, Board of Directors, General Director, and Chief Accountant of the companies.
Key points
- Diêm Hoà Bình Company is transformed into May – Diêm Sài Gòn Joint Stock Company with a charter capital of 5,490,000,000 VND, of which the State holds 36%, internal employees 55.2%, and external sale 8.8%.
- The actual value of Diêm Hoà Bình Company is 14,600,176,849 VND, of which the State's portion is 5,492,121,708 VND.
- Employee benefits: 19,055 shares with a preferential value of 571,650,000 VND, of which 3,825 preferential shares are sold on credit to 23 poor workers.
- May – Diêm Sài Gòn Company engages in business activities such as salt production, garment manufacturing, furniture, construction, and real estate.
- May – Diêm Sài Gòn Company becomes a legal entity under Vietnamese law upon registration for business operation.
🌐 Social impact of this document
- Creating opportunities for internal employees to purchase preferential shares, increasing ownership rights and benefits.
- Diversifying business activities, expanding markets, and enhancing production and business efficiency.
❓ Frequently asked questions
What is the charter capital of May – Diêm Sài Gòn Joint Stock Company?
The charter capital of May – Diêm Sài Gòn Joint Stock Company is 5,490,000,000 VND.
What percentage of shares does the State hold in the new company?
The State holds 36% of the shares in May – Diêm Sài Gòn Joint Stock Company.
How are internal employees being given preferential treatment?
Internal employees are given the opportunity to purchase 19,055 shares with a preferential value of 571,650,000 VND, of which 3,825 preferential shares are sold on credit to 23 poor workers.
What business activities does May – Diêm Sài Gòn Company engage in?
May – Diêm Sài Gòn Company engages in business activities such as salt production, garment manufacturing, furniture, construction, and real estate.
When does this decision take effect?
This decision takes effect fifteen days from the date of publication in the Official Gazette.
Full text
Pursuant to …;
Regarding the conversion of Diêm Hoà Bình Company into Saigon Garment - Match Joint Stock Company
_______________________
THE MINISTER OF INDUSTRY
Pursuant to Decree No. 55/2003/NĐ-CP dated May 28, 2003 of the Government on 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 Vietnam Paper Corporation (Letter No. 227/CV-HĐQT dated February 16, 2004), the plan for the conversion of Diêm Hoà Bình Company into a joint-stock company, and the review report of the Enterprise Reform and Development Board of the Ministry dated February 20, 2004; Following the recommendation of the Enterprise Reform and Development Board and the Director of the Personnel and Organization Department,
DECISION:
Article 1. Approves the plan for the conversion of Diêm Hoà Bình Company (a subsidiary under independent accounting of Vietnam Paper Corporation) including the following main points:
1. Capital structure:
The charter capital of the joint-stock company is VND 5,490,000,000 (Five billion four hundred ninety million dong). Of which: - State shareholding ratio: 36.00%
- Shareholding ratio sold to employees within the company: 55.20%
- Shareholding ratio sold outside the company: 8.80%
Value of one share: 100,000 VND.
2. The actual value of Diêm Hoà Bình Company at the time of June 30, 2002 for the purpose of conversion (Decision No. 09/QĐ-TCKT dated January 5, 2004 of the Ministry of Industry) is VND 14,600,176,849. Among this, the actual value of the state's capital in the company is VND 5,492,121,708.
3. Preferential treatment for employees of the Company.
The total number of preferential shares sold to 124 employees within the company is 19,055 shares with a preferential value of VND 571,650,000. Among these, the number of preferential shares sold on credit to 23 poor employees is 3,825 shares, valued at VND 267,750,000.
Article 2. Convert Diêm Hoà Bình Company into Saigon Garment - Match Joint Stock Company.
- International trading name: Saigon garment - Match joint stock company;
- Abbreviation: SGM;
- Main office located at: No. 346 Ben Van Don Street, Ward 1, District 4, Ho Chi Minh City.
Article 3. The joint stock company engages in the following business activities:
- Production, business, direct import and export of products, raw materials, and equipment related to salt production, garment manufacturing, wood products, forest product processing, and construction materials;
- Trading, import and export, agency sales of electronic products, general merchandise, food, and cosmetics; Tourism, transportation, hotel, restaurant, and supermarket operations;
- Construction, real estate business; asset leasing services, warehouse, factory rental; - Other businesses in accordance with the law.
Article 4. Saigon Garment - Match Joint Stock Company shall be a legal entity under Vietnamese law from the date of registration for business, conducting independent economic accounting, using its own seal, opening bank accounts in accordance with the law, operating according to the Articles of Association of the joint-stock company and the Enterprise Law.
Article 5. Vietnam Paper Corporation is responsible for directing Diêm Hoà Bình Company to organize the sale of shares and convene the first General Meeting of Shareholders of the joint-stock company in accordance with current regulations.
The Director and Chief Accountant of Diêm Hoà Bình Company are responsible for managing the company's operations until the transfer of all capital, assets, labor, and land to the Board of Directors and General Manager of the joint-stock company.
Article 6. 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, Chairman of the Board of Directors, General Director of Vietnam Paper Corporation, Director of Diêm Hoà Bình Company, and Chairman of the Board of Directors, General Manager of Saigon Garment - Match Joint Stock Company are responsible for implementing this Decision./.
DEPUTY MINISTER
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