Decision No. 225/2008/QĐ-BQP Regarding the transformation of Company 28 into Group Corporation 28 operating under the holding company - subsidiary model

Article 24DECREE

Regarding the transformation of Company 28 into Group 28 operating under the form

parent company - subsidiary company

_____________________

MINISTER OF NATIONAL DEFENSE

Pursuant to the Law on Legislative Acts of Regulation dated November 12, 1996, amended and supplemented on December 16, 2002;

Pursuant to the Law on State-Owned Enterprises dated November 26, 2003;

Pursuant to the Enterprise Law dated November 29, 2005;

Pursuant to Decision No. 257/2006/QĐ-TTg dated November 9, 2006 of the Prime Minister promulgating regulations on frequency band allocation for economic and social purposes, national defense, and security;

Pursuant to Decision No. 339/QĐ-TTg dated March 31, 2008 of the Prime Minister approving the restructuring and modernization plan for state-owned enterprises with 100% state capital under the Ministry of National Defense for the period 2008-2010;

Pursuant to Decision No. 1779/QĐ-TTg dated December 9, 2008 of the Prime Minister approving the project to transform Company 28 into Group 28 operating under the form of parent company - subsidiary company;

At the proposal of the General Chief of Staff.

DECISION:

Article 1. Transform Company 28 / Logistics General Department into Group 28 under the Logistics General Department, operating under the form of parent company - subsidiary company.

1. Name of Parent Company: Group 28.

2. International Trade Name: 28 CORPORATION.

3. Abbreviation: Agtex. Corp.

4. Head Office: No. 03, Nguyen Oanh Street, Ward 10, Go Vap District, Ho Chi Minh City.

5. Registered Capital: 514.5 billion VND.

Article 2. The parent company - Group 28 is a defense and security enterprise under the Logistics General Department, formed based on the reorganization of the Company 28 agency and dependent units. The parent company directly produces, operates, and invests capital in subsidiaries, associated companies, joint ventures according to the Articles of Organization and Operation and Financial Management Regulations of the Group approved by the Ministry of National Defense.

Article 3. Business activities of Group 28:

1. Producing and trading textile products, weaving products, leather shoes, wooden goods, machinery, military supplies.

2. Trading materials, spare parts, raw materials, chemicals serving the weaving, dyeing, textile, leather shoe, wooden goods, machinery, military supply industries.

3. Directly importing and exporting products from the textile, garment, leather shoe, wooden goods, machinery, military supply, pharmaceutical, and medical equipment industries.

4. Importing and exporting, wholesaling and retailing petroleum products.

5. Developing industrial and civilian infrastructure projects.

6. Trading real estate and urban infrastructure.

7. Investing in industrial park infrastructure, industrial clusters, real estate brokerage.

8. Real estate services.

9. Leasing warehouses, parking lots, office spaces.

10. Producing and trading bottled water.

Article 4. Management structure of Group 28

1. Management structure of the parent company - Group 28 includes:

a) General Director, Deputy General Directors, Executive Directors, Chief Accountant.

b) Supporting staff including:

- Textile Sales Department;

- Investment and Real Estate Sales Department;

- Petroleum Sales Department; - Research and Development Department;

- Planning and Coordination Department;

- Technical Department;

- Finance and Accounting Department;

- Political Affairs Department;

- Office.

2. Organizational structure of Group 28.

a) Dependent units directly under the parent company include:

- Weaving Workshop;

- Spinning Workshop;

- Dyeing Workshop;

- Mechanical Workshop;

- Commerce and Service Workshop;

- Company 28.6 Garment;

- Agtex Long Binh Industrial Zone Management Workshop;

- Hanoi Branch;

- Can Tho Branch.

b) Subsidiaries:

- Joint Stock Company 28-1;

- Joint Stock Company 28 Hung Phu;

- Joint Stock Company 28 Quang Ngai;

- Joint Stock Company 28 Da Nang.

Subsidiaries have their own legal personality, names, assets, management structures; they bear civil liability within the scope of their assets; they are organized and operate according to relevant laws corresponding to the legal form of subsidiaries and regulations of the Ministry of National Defense.

c) Associated companies (joint stock companies) held by the Group with less than 50% of registered capital are organized and operated according to relevant laws corresponding to the legal form of the company, including:

- Joint Stock Company Binh Phu;

- Joint Stock Investment Company VINATEX;

- Joint Stock Investment and Development AGTEX - 3D;

- Joint Stock Company Dong Do;

- Joint Stock International Textile Training Company (IGIC);

- Joint Stock Central Vietnam Human Resource Training Company; - Military Commercial Joint Stock Bank;

- KEPPELLAND AGTEX Joint Venture Company;

Article 5. The Logistics General Department is tasked with guiding Group 28 to develop the Articles of Organization and Operation and Financial Management Regulations of the Group in accordance with the Enterprise Law and Decision No. 1779/QĐ-TTg dated December 9, 2008 of the Prime Minister approving the project to transform Company 28 into Group 28 operating under the form of parent company - subsidiary company; Establishing organizational structure, positions, supporting staff of the Group and its member units, plans and schedules for the shareholding reform of Limited Liability Company 28-1 into Joint Stock Company 28-1 to be reported to the Ministry for approval.

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

The General Chief of Staff, the Director of the General Political Department, the Director of the Logistics General Department, the General Director of Group 28, and the heads of related agencies and units are responsible for implementing this Decision./.