Decision No. 263/2003/QĐ-TTg On piloting the organization and operation under the Parent Company-Subsidiary model at Liksin Paper Printing and Packaging Import-Export Production and Business Joint Stock Company under the People's Committee of Ho Chi Minh City

DECISION

Regarding the pilot organization and operation under the parent company - subsidiary model at the Liksin Paper Printing and Packaging Import-Export Company under the People's Committee of Ho Chi Minh City

PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Based on the State Enterprise Law dated April 20, 1995;

Pursuant to the Enterprise Law dated June 12, 1999;

At the proposal of the People's Committee of Ho Chi Minh City and the opinions of the Ministries of Culture - Information, Planning and Investment, Finance, Home Affairs, Labor - War Invalids and Social Affairs,

DECISION:

Article 1. Approves the Pilot Project for the parent company - subsidiary organizational model at the Liksin Paper Printing and Packaging Import-Export Company under the People's Committee of Ho Chi Minh City, with the following contents:

1. Objective: To pilot the reform of management organization, transitioning from administrative linkage between the Liksin Company and related enterprises to a financial investment mechanism, creating a tight connection, clearly defining rights and responsibilities regarding capital and economic benefits among enterprises with legal personality, providing better information, marketing, sales, supply, research, and training services for participating units, enhancing production capacity and competitiveness of the enterprise.

2. Main contents of the Project:

a) The Liksin Paper Printing and Packaging Import-Export Company will operate under the parent company - subsidiary organizational model with the following contents:

- The parent company is a state-owned enterprise: the Liksin Paper Printing and Packaging Import-Export Company, directly carrying out production and business activities and investing capital in other companies, responsible for preserving and developing state capital at the parent company and in other invested companies.

- Subsidiaries are state-owned enterprises, limited liability companies with one member, joint-stock companies, limited liability companies with two or more members established anew or converted from state-owned enterprises, including:

+ Limited liability company with one member:

Liksin Packaging Northern Limited Liability Company.

+ Joint-stock company:

* Comprehensive Printing Joint-Stock Company,

* Label Printing Joint-Stock Company.

+ Limited liability company with two or more members:

* Carton Packaging Limited Liability Company,

* North South Central Packaging Technical Service Limited Liability Company.

Subsidiaries have legal personality, assets, names, and separate management structures, independently bear civil liabilities within the scope of their assets; they are organized and operate according to the relevant laws corresponding to the legal form of subsidiaries.

+ Additionally, the parent company has capital invested in the following companies:

* Phat Tai Limited Liability Company,

* Saigon Ink and Chemical Joint-Stock Company,

* Xuan Duc Paper Joint-Stock Company,

* Linh Xuan Paper Joint-Stock Company,

* Mai Lan Joint-Stock Company,

* Vinh Hue Paper Joint-Stock Company,

* Tan Binh Cultural Comprehensive Joint-Stock Company,

* Southern Cultural Product Production and Trading Joint-Stock Company,

* Saigon Rubber - Kymdan Joint-Stock Company,

* Dong Phuong Plastic Joint-Stock Company,

* Plastic 4 Joint-Stock Company,

* Da Sai Gon Trading and Service Joint-Stock Company,

* Export Art and Craft Comprehensive Joint-Stock Company,

* Bai Tuyet Paint Joint-Stock Company,

* Dong A Commercial Joint-Stock Bank,

* Hoa Viet Joint Venture Limited Liability Company.

b) The charter capital structure, business sectors of the parent company and subsidiaries; organization and management of the parent company; relationships between the parent company and the state owner and subsidiaries, associated companies; the name of the agency entrusted to represent the state owner's capital at the parent company are stipulated in the Charter of the parent company's organization and operation.

c) The parent company is responsible for inheriting all legal rights and obligations of the Liksin Paper Printing and Packaging Import-Export Company.

Article 2.

1. Entrust the Chairman of the People's Committee of Ho Chi Minh City:

a) To direct the implementation of this Project. To take the lead and coordinate with relevant agencies in:

- Establishing principles for handling capital, assets, finance, and labor when converting the Liksin Paper Printing and Packaging Import-Export Company to operate under the parent company - subsidiary model.

- Organizing monitoring of the operational situation of this model, paying attention to the activities of enterprises during the pilot phase to promptly correct, draw lessons, and report to the Prime Minister.

b) To decide on the establishment of the parent company and subsidiaries mentioned in Clause 2, Article 1 of this Decision according to current regulations.

c) To submit to the Prime Minister for approval of the Charter of the parent company's organization and operation.

2. Entrust the Minister of Finance to approve the financial regulations for the pilot program of the parent company based on the proposal of the People's Committee of Ho Chi Minh City.

Article 3. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.

The Chairman of the People's Committee of Ho Chi Minh City, Ministers of the Ministries of Finance, Planning and Investment, Home Affairs, Labor - War Invalids and Social Affairs, Culture - Information, and Heads of relevant agencies are responsible for implementing this Decision./.