Decision No. 28/2005/QĐ-BCN amends Clause 1, Clause 2, and Clause 3 of Article 1 of Decision No. 156/2004/QĐ-BCN dated December 3, 2004, issued by the Minister of Industry regarding the conversion of Hung Yen Plastic Company to Hung Yen Plastic Joint Stock Company.

Pursuant to …;

Amending Clause 1, Clause 2, and Clause 3 of Article 1 of Decision No. 156/2004/QĐ-BCN

dated December 3, 2004, of the Minister of Industry on the transfer

of the Hung Yen Plastic Company to the Hung Yen Plastic 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 Decision No. 2110/QĐ-TCKT dated June 22, 2005, of the Minister of Industry on amending Article 1 of Decision No. 3145/QĐ-TCKT dated November 24, 2004, of the Minister of Industry on determining the value of the Hung Yen Plastic Company for shareholding reform;

Considering the proposal of the Hung Yen Plastic Company (Petition No. 23/HPC/CV-CPH dated June 22, 2005);

At the proposal of the Enterprise Reform and Development Board and the Director of the Personnel and Organization Department,

Pursuant to …;

Article 1. Amending Clause 1, Clause 2, and Clause 3 of Article 1 of Decision No. 156/2004/QĐ-BCN dated December 3, 2004, of the Minister of Industry on the transfer of the Hung Yen Plastic Company to the Hung Yen Plastic Joint Stock Company as follows:

1. Registered Capital Structure :

The registered capital of the Joint Stock Company is 6,000,000,000 VND (Six billion VND).

Of which: The proportion of shares sold to employees of the Company: 100.00%.

The value of one share: 100,000 VND.

2. The actual value of the Hung Yen Plastic Company at the time of December 31, 2003 for shareholding reform (Decision No. 2110/QĐ-TCKT dated June 22, 2005, of the Minister of Industry) is 174,543,305,382 VND. Among this, the actual value of the State-owned capital in the Company is 5,906,365,806 VND.

3. Preferential treatment for employees of the Company.

A total of 60,000 preferential shares were sold to 338 employees of the Company with a preferential value of 1,800,000,000 VND. Among this, 1,336 preferential shares worth 93,520,000 VND were sold to seven poor employees on deferred payment terms.

Article 2. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.

The Head of the Ministry's Office, the Inspector General of the Ministry, the Heads of Departments and Bureaus under the Ministry, the General Director of the Hung Yen Plastic Company, and the Chairman of the Board of Directors and the General Director of the Hung Yen Plastic Joint Stock Company are responsible for implementing this Decision./.