This circular guides ministries, agencies, and state-owned corporations in the process of corporatizing state-owned enterprises in 2005, including preparing financial reports, settling taxes, handling outstanding debts, and selecting companies for listing on the stock market. Notably, it recommends auctioning off or liquidating businesses that no longer have state capital.
Đối tượng áp dụng
Ministries; agencies at ministerial level; People's Committees of provinces and centrally-run cities; State-owned corporations
Các điểm cốt lõi
- State-owned enterprises subject to corporatization in 2005 must complete the preparation of financial reports for 2004 and tax settlement (Article 1)
- Enterprises need to address existing issues related to finance and debts before corporatization; if there is no remaining state capital, they may be auctioned off or liquidated (Article 1)
- Direct representatives of the state's equity must vote through shareholder rights to list or register for trading on the stock market with qualified enterprises (Article 2)
- Decision to sell off shares of the state at joint-stock companies in conjunction with listing and registration for trading on the securities market (Article 3)
- Monitor the quality of valuation services, share sales, and report violations in this area to the Ministry of Finance (Article 4)
🌐 Tác động xã hội từ văn bản này
- Strengthen financial management and handle outstanding debts before corporatization
- Encourage listing or registration for trading on the securities market to enhance transparency and operational efficiency of joint-stock companies
- Minimize financial risks for the state through auctioning off or liquidating enterprises without remaining state capital
❓ Câu hỏi thường gặp
What must a state-owned enterprise complete before corporatization?
It must prepare financial reports for 2004, settle taxes, and address existing issues related to finance and debts.
In the case of an enterprise that no longer has state capital, what should be done?
The authority responsible for corporatization may implement auctioning off or liquidating the business.
What must representatives of state equity do with qualified enterprises for listing?
Vote through shareholder rights to list or register for trading on the stock market.
Which entity is responsible for monitoring the quality of valuation and share sales services?
Representatives of state equity and related agencies must monitor and report violations to the Ministry of Finance.
Who decides on selling off shares of the state at joint-stock companies?
People's Committees of provinces and centrally-run cities or other competent authorities.
Toàn văn
Circular
OF THE MINISTRY OF FINANCE NO. 4126 TC/TCDN DATE APRIL 8, 2005
REGARDING GUIDELINES FOR ADDITIONAL ISSUES ON
FINANCIAL MATTERS IN IMPLEMENTING CORPORATIZATION
Dear: - Ministries, agencies equivalent to ministries Ministry
- People's Committees of provinces and centrally governed cities of- State-owned enterprises
To accelerate the steady corporatization of state-owned companies in accordance with the spirit of Directive No. 04/2005/CT-TTg dated March 17, 2005 of the Prime Minister, the Ministry of Finance requests ministries, People's Committees of provinces and centrally governed cities, and State-owned enterprises:
1. Direct state-owned companies scheduled for corporatization in 2005 to:
- Complete the preparation of financial reports for the year 2004.
- Coordinate with tax authorities to settle tax liabilities.
- Proactively address existing issues related to finances, assets, and outstanding debts; coordinate with relevant agencies and the Company for Debt Purchase and Liquidation of Corporate Assets to resolve all outstanding debts and assets before corporatization.
For companies in poor financial condition, when formulating plans to handle financial matters, debts, and remaining assets according to current regulations, if there is no state capital left, it is recommended that the authority responsible for corporatization implement either an auction sale or bankruptcy proceedings for the company.
2. Select companies meeting the conditions for listing or trading on the stock market to instruct representatives of state-owned shares at joint-stock companies
through shareholder voting rights to list or register for trading. Finance3. Review and decide to sell off state-owned shares in joint-stock companies linked to the implementation of listings or registrations on the stock market (especially those where the state holds more than 50% of the charter capital).
4. Supervise the quality of valuation services and share sales provided by auditing firms, securities companies, and valuation organizations; promptly report to the Ministry of Finance any violations of state regulations regarding enterprise valuations, auctioned share sales, and confidentiality in auction proceedings for appropriate action.
4. Monitor the quality of valuation and share sale services provided by auditing companies, securities companies, and appraisal organizations; promptly report to the Ministry of Finance any violations of state regulations on enterprise valuation, auctioned share sales, and confidentiality in auction work for appropriate action.
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