Decision No. 203/2003/QĐ-BCN on the transformation of the Construction and Installation Enterprise under the Electricity Company of Hanoi City into the Joint Stock Construction and Installation and Telecommunications Company.

Pursuant to …;

Regarding the conversion of the Construction and Installation Enterprise under the Hanoi Electricity Corporation into the Construction and Telecommunications Joint Stock Company

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 Vietnam Electricity Corporation (Document No. 5249/CV-EVN-TCCB&ĐT dated November 14, 2003), the privatization plan for the Construction and Installation Enterprise under the Hanoi Electricity Corporation, and the review report on the plan by the Board for Enterprise Reform and Development of the Ministry dated November 25, 2003;

Approves the privatization plan for Secpentin Company and Thanh Hoa Chemicals Company (an independent accounting member enterprise of Vietnam Chemicals Corporation) including the following main points:

Pursuant to …;

Article 1. Approves the privatization plan for the Construction and Installation Enterprise under the Hanoi Electricity Corporation (a subsidiary enterprise operating independently under Vietnam Electricity Corporation) as follows:

1. Capital structure:

The charter capital of the joint stock company is 6,000,000,000 VND (Six billion VND). Of which:

- Shareholding ratio sold outside the enterprise: 6.62%.

- The proportion of shares sold to employees within the enterprise: 60.00%;

- The proportion of shares sold outside the enterprise: 10.00%.

The value of one share: 100,000 VND.

2. The actual value of the Construction and Installation Enterprise under the Hanoi Electricity Corporation at the valuation date of December 31, 2002 for privatization (Decision No. 2285/QĐ-TCKT dated September 11, 2003 of the Ministry of Industry) is 43,236,987,892 VND. Among this, the actual value of the State-owned capital in the enterprise is 3,959,832,868 VND.

4. Regarding the privatization costs, retraining of employees, and surplus labor resolution of the enterprise, An Lac Shoe Company will handle the procedures, report to the Ministry of Industry and relevant state authorities for approval according to current regulations.

The total number of preferential shares sold to 158 employees in the enterprise is 24,464 shares with a preferential value of 733,920,000 VND.

4. Regarding the privatization costs and retraining of employees in the enterprise, the Hanoi Electricity Corporation shall handle the procedures, report to Vietnam Electricity Corporation and relevant state agencies for approval according to current regulations.

Article 2. Convert the Construction and Installation Enterprise under the Hanoi Electricity Corporation into the Construction and Telecommunications Joint Stock Company,

- International trade name: CONSTRUCTION OF ELECTRICITY AND TELECOM JOINT STOCK COMPANY;

- Abbreviation: CEAT;

- Head office: No. 115 Nguyen Tam Trinh Street, Hai Ba Trung District, Hanoi.

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

- Installation of power transmission lines and substations up to 110 kV voltage level; installation of telecommunications projects; construction of civil and industrial infrastructure projects;

- Consulting and designing civil infrastructure projects, electrical and telecommunications projects;

- Manufacturing, processing, and producing mechanical equipment and electrical devices; repairing transformers and electrical equipment;

- Trading in materials, electrical and telecommunications equipment;

- Importing and exporting materials and equipment;

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

Article 4. The Construction and Telecommunications Joint Stock Company is a legal entity under Vietnamese law from the date of registration for business operations, conducting independent economic accounting, using its own seal, opening bank accounts in accordance with the law, and operating according to the Articles of Association of the joint stock company and the Law on Enterprises.

Article 5. Vietnam Electricity Corporation is responsible for directing the Hanoi Electricity Corporation 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 the Hanoi Electricity Corporation are responsible for managing the operations of the Construction and Installation Enterprise until the transfer of all capital, assets, labor, and land to the Board of Directors and General Manager of the Construction and Telecommunications 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, the Heads of Departments and Bureaus under the Ministry, the Chairman of the Board of Directors, and the General Director of Vietnam Electricity Corporation, the Director of the Hanoi Electricity Corporation, and the Chairman of the Board of Directors and General Manager of the Construction and Telecommunications Joint Stock Company are responsible for implementing this Decision./.