Decision No. 1803/2003/QĐ-BTM of the Ministry of Trade on the conversion of Haiphong Chemical Materials Electric Company to a joint stock company. The Decision stipulates the form, charter capital structure, enterprise value, employee benefits, and business tasks of the company after shareholding reform.
Scope of application
Haiphong Chemical Materials Electric Company
Key points
- Haiphong Chemical Materials Electric Company will be converted into a joint stock company with a charter capital of 12 billion VND, of which the State holds 29%, and employees hold 71%.
- The actual value of the enterprise is 51,272,119,483 VND, of which the State's capital value is 7,495,989,132 VND.
- Employees are granted preferential treatment with 40,195 shares worth a total of 1,205,850,000 VND.
- After shareholding reform, the company will engage in various products such as chemicals, electric materials, agricultural and forestry products, metals, and transportation services.
- The General Director of the Company must organize the initial public offering according to State regulations and transfer assets to the Board of Directors.
🌐 Social impact of this document
- Positive impact: Shareholding reform helps improve business efficiency and strengthen charter capital.
- Negative impact: It may cause difficulties during the transition process and organizing the initial public offering.
❓ Frequently asked questions
What is the charter capital of the company after shareholding reform?
The charter capital of Haiphong Chemical Materials Electric Joint Stock Company is 12 billion VND.
What percentage of the charter capital does the State hold?
The State holds 29% of the charter capital.
How are employees being granted preferential treatment?
Employees are granted preferential treatment with 40,195 shares worth a total of 1,205,850,000 VND.
What products will the company deal with after shareholding reform?
The company will deal with chemicals, electric materials, agricultural and forestry products, metals, and transportation services.
When does this Decision take effect?
This Decision takes effect 15 days from the date of publication in the Official Gazette.
Full text
Pursuant to …;
Regarding the transformation of Hai Phong Chemical Material Electric Company into Hai Phong Chemical Material Electric Joint Stock Company
__________________________
THE MINISTER OF TRADE
Pursuant to Decree No. 95/CP dated December 4, 1993 of the Government on the functions, tasks, powers, and organizational structure of the Ministry of Trade;
Pursuant to Decree No. 64/2002/NĐ-CP dated June 19, 2002 of the Government on the transformation of state-owned enterprises into joint-stock companies;
Considering the proposal of Hai Phong Chemical Material Electric Company (Proposal No. 536/TT-TC dated December 15, 2003) and the assessment opinion on the Hai Phong Chemical Material Electric Company's shareholding reform plan by the Enterprise Reform and Development Board of the Ministry;
At the proposal of the Director of the Cadre and Civil Servant Department,
DECISION:
Article 1. Approving the Hai Phong Chemical Material Electric Company's shareholding reform plan
1. Shareholding form: Selling part of the State-owned capital currently held in the enterprise and combining with raising additional capital from employees within the enterprise to transform into a joint stock company:
2. Capital structure
- Registered capital of the joint stock company: 12,000,000,000 VND (twelve billion Vietnamese dong).
- State: 29% of registered capital.
- Employees within the enterprise: 71% of registered capital.
3. The value of the state-owned enterprise at the time of determining the enterprise's value according to the Decision of the Ministry of Trade No. 1253/QĐ-BTM dated October 6, 2003.
- Actual value of the enterprise: 51,272,119,483 VND (fifty-one billion two hundred seventy-two million one hundred nineteen thousand four hundred eighty-three dong).
- Of which the actual value of the State-owned capital in the enterprise is: 7,495,989,132 VND (seven billion four hundred ninety-five million nine hundred eighty-nine thousand one hundred thirty-two dong).
4. Employee benefits: 40,195 shares valued at: 1,205,850,000 VND (one billion two hundred five million eight hundred fifty dong).
5. After the shareholding reform, the enterprise shall use the proceeds from the sale of shares as follows:
+ Shareholding reform costs shall be implemented in accordance with Decree No. 64/2002/NĐ-CP dated June 19, 2002 of the Government and the guiding circular of the Ministry of Finance No. 76/2002/TT-BTC.
The remaining amount shall be transferred to the state warehouse in accordance with state regulations.
Article 2. Transforming Hai Phong Chemical Material Electric Company into Hai Phong Chemical Material Electric Joint Stock Company:
a) Name:
- Full name in Vietnamese: Hai Phong Chemical Material Electric Joint Stock Company.
- English name: Haiphong Chemical and Electrical Joint-Stock Company.
- Trading name: Haiphong CEMACO.
b) Business address: 20 Le Quynh Street, May To Ward, Ngo Quyen District - Hai Phong City.
Article 3. Hai Phong Chemical Material Electric Joint Stock Company is a legal entity under Vietnamese law from the date of registration for business operation, implementing independent economic accounting, using its own seal, opening bank accounts in accordance with the law, and operating in accordance with the Company Charter and the Law on Enterprises.
Article 4. The joint stock company has the following business responsibilities:
- Trading, import and export, production of export goods.
- Chemicals, electrical materials, and mechanical tools.
- Construction materials, consumer goods, fertilizers, transportation equipment, rubber, rubber wood, processed agricultural and forestry products, metal products.
- Trading houses, tobacco, beer, candy, seafood, machinery, spare parts, and production supplies.
+ Producing and exporting paper.
- Service provision: Guesthouses, cargo handling and transportation, warehouse leasing, domestic travel services.
Article 5. Entrusting the Director of Hai Phong Chemical Material Electric Company with the responsibility to organize the initial public offering in accordance with state regulations, organize the shareholders' meeting of the joint stock company, and transfer funds, assets, labor, and related documents to the Board of Directors of the joint stock company in accordance with current state regulations.
Article 6. This Decision takes effect fifteen days after its publication in the Official Gazette. All previous documents that conflict with this Decision are hereby abolished.
Article 7. The Heads of the Ministry's Office, the Director of the Department of Organization and Cadres, the Heads of relevant units under the Ministry, and the Director of Haiphong Chemical Materials Company shall be responsible for implementing this Decision./.The Director of the Ministry's Office, the Department Head of the Cadre and Civil Servant Organization Department, the Heads of relevant units under the Ministry, and the Director of Haiphong Chemical Materials Corporation shall be responsible for implementing this Decision./.
DEPUTY MINISTER
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