Decision No. 23/2000/QĐ-TTg On the conversion of the Investment and Business Housing Company under the Saigon Real Estate Corporation into a joint-stock company

Pursuant to …;

Regarding the conversion of the Investment - Business House Company under the Saigon Real Estate Corporation into a joint-stock company

Approving the plan for the shareholding reform of the state-owned enterprise, the Investment - Business House Company under the Saigon Real Estate Corporation, as proposed by the Chairman of the People's Committee of Ho Chi Minh City in Document No. 5471/UB-KT dated December 28, 1999:

______________________ 

PRIME MINISTER

Pursuant to the Government Organization Law dated September 30, 1992;

Pursuant to Decree No. 44/1998/NĐ-CP dated June 29, 1998 of the Government on the conversion of state-owned enterprises into joint-stock companies;

AT THE REQUEST OF THE CHAIRMAN OF THE PEOPLE'S COMMITTEE OF HO CHI MINH CITY,

DECISION:

Article 1. 1. The Charter Capital of the Joint-Stock Company: 25,000,000,000 VND.

- State shareholding ratio: 30% of the Charter Capital,

Wherein:

- Shareholding ratio sold to employees within the Company: 20% of the Charter Capital,

- Shareholders outside the Company: 50% of the Charter Capital.

2. The actual value of the Investment - Business House Company at the time of shareholding reform on November 1, 1999 was 78,790,724,746 VND, including the actual value of the state capital portion in the Company being 39,933,206,543 VND.

- The total number of shares sold at preferential prices to employees within the enterprise is 12,830 shares; the preferential value amounting to 384,900,000 VND.

- Among which, the number of preferential shares sold to poor employees within the enterprise to be paid gradually is 940 shares corresponding to 65,800,000 VND.

3. Employee benefits:

Converting the state-owned enterprise, the Investment - Business House Company, into a joint-stock company:

- Full name in Vietnamese: Investment - Business House Joint-Stock Company.

Article 2. - International trade name: Investment and Trading of Real Estate Joint-Stock Company.

- Abbreviation: INTRESCO

- Main office address: No. 18 Nguyen Binh Khiem Street, District 1, Ho Chi Minh City.

The Investment - Business House Joint-Stock Company is permitted to produce and operate:

- Real estate investment and business.

Article 3. - Providing legal services related to real estate; consulting on investment project planning and design.

- Surveying and designing small and medium-sized construction projects.

- Producing and trading building materials and interior decoration.

- Constructing civil, industrial, and interior decoration projects.

- Constructing urban infrastructure, industrial zones, land leveling, bridges, roads, and drainage systems.

- Directly importing and exporting materials, machinery, and equipment in the construction industry.

The Investment - Business House Joint-Stock Company:

- Is a legal entity according to Vietnamese law from the date of issuance of the business registration certificate, operating according to the business license, implementing independent economic accounting, having its own seal, and opening bank accounts in accordance with the law. Operating according to the Company's Articles of Association and the Enterprise Law.

Article 4. The Director and Chief Accountant of the Investment - Business House Company are responsible for managing and operating the enterprise until the entire company is handed over to the Board of Directors and General Manager of the Investment - Business House Joint-Stock Company.

This Decision takes effect from the date of signature. Decisions contrary to this Decision are abolished. The Chairman of the People's Committee of Ho Chi Minh City, the Board of Directors of the Saigon Real Estate Corporation, the Director of the Investment - Business House Company, and the Board of Directors of the Investment - Business House Joint-Stock Company are responsible for implementing this decision./.

- Central Economic Commission,

Article 5. - Ministries: Finance, Planning and Investment,