Decision No. 98/2004/QD-BCN of the Ministry of Industry on the conversion of Thang Long Plastic Factory under Vietnam Plastic Corporation into Thang Long Plastic Joint Stock Company, stipulates the charter capital structure, actual value, employee benefits, and business conditions of the new company.
Scope of application
Vietnam Plastic Corporation, Thang Long Plastic Factory, employees at Thang Long Plastic Factory, Board of Directors and General Director of Thang Long Plastic Joint Stock Company.
Key points
- Thang Long Plastic Factory is converted into a joint stock company with a charter capital of 3,500,000,000 VND, of which the State holds 50.69%, employees in the factory are given preferential shares for 37.91%, and 11.40% is sold to external parties.
- The actual value of Thang Long Plastic Factory is 12,335,698,237 VND, of which the State's capital portion is 2,152,084,938 VND.
- Employee benefits in the factory: a total of 67 employees are offered preferential shares worth 136,800,000 VND, including 590 shares deferred for 9 poor employees.
- Thang Long Plastic Joint Stock Company engages in businesses such as producing and trading industrial plastics, household goods, printing on plastic packaging, and other industries as prescribed by law.
- Thang Long Plastic Joint Stock Company operates independently with its own seal, bank account, and economic accounting according to the Company Charter.
🌐 Social impact of this document
- Positive impact: Shareholding reform helps improve the management efficiency of state-owned enterprises and provides opportunities for employees to participate in ownership.
- Negative impact: The costs of shareholding reform and retraining employees may impose financial pressure on the new company.
❓ Frequently asked questions
What is the charter capital of Thang Long Plastic Joint Stock Company?
The charter capital of Thang Long Plastic Joint Stock Company is 3,500,000,000 VND.
What are the ratios of State shares, employee shares, and shares sold outside the factory?
The ratio of State shares is 50.69%, employee shares within the factory is 37.91%, and shares sold outside the factory is 11.40%.
What is the actual value of Thang Long Plastic Factory?
The actual value of Thang Long Plastic Factory is 12,335,698,237 VND.
What are the employee benefits in the factory?
A total of 67 employees are offered preferential shares worth 136,800,000 VND, including 590 shares deferred for 9 poor employees.
What industries does Thang Long Plastic Joint Stock Company operate in?
Thang Long Plastic Joint Stock Company engages in the production and trade of industrial plastics, household goods, raw materials, additives, and chemicals for the plastic industry; printing on plastic packaging, and other industries in accordance with legal regulations.
Full text
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MINISTRY OF INDUSTRY |
SOCIALIST REPUBLIC OF VIETNAM |
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Number: 98/2004/QĐ-BCN |
Hanoi, September 24, 2004 |
Pursuant to …;
Regarding the conversion of Thang Long Plastic Factory under Vietnam Plastic Corporation into Thang Long 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 Decree No. 64/2002/NĐ-CP dated June 19, 2002 of the Government on the conversion of state-owned enterprises into joint-stock companies;
Considering the proposal of Vietnam Plastic Corporation (document number 596/CV-NVN-VP dated August 25, 2004), the privatization plan for Thang Long Plastic Factory, and the appraisal report of the Enterprise Reform and Development Board on September 16, 2004;
At the proposal of the Enterprise Reform and Development Board and the Director of the Personnel and Organization Department,
DECISION:
Article 1. Approving the privatization plan for Thang Long Plastic Factory under Vietnam Plastic Corporation (a subordinate enterprise of the Ministry of Industry) as follows:
1. Capital structure:
The charter capital of the joint stock company is 3,500,000,000 VND (Three billion five hundred million VND).
- State shareholding ratio: 50.69%;
- Shareholding ratio sold to employees within the factory: 37.91%;
- Shareholding ratio sold outside the factory: 11.40%.
The value of one share: 100,000 VND.
2. The actual value of Thang Long Plastic Factory at the valuation date of December 31, 2003 for privatization (Decision No. 1413/QĐ-TCKT dated June 15, 2004 of the Ministry of Industry) is 12,335,698,237 VND. Among this, the actual value of the state capital in the factory is 2,152,084,938 VND.
3. Employee benefits.
The total number of preferential shares sold to 67 employees within the factory is 4,560 shares with a preferential value of 136,800,000 VND. Among these, the number of deferred payment preferential shares sold to 9 poor employees is 590 shares, valued at 41,300,000 VND.
4. Regarding the privatization costs, retraining of employees, and surplus labor resolution of the factory, Vietnam Plastic Corporation will handle the procedures, report to the Ministry of Industry and relevant state authorities for approval according to current regulations.
Article 2. Converting Thang Long Plastic Factory under Vietnam Plastic Corporation into Thang Long Plastic Joint Stock Company,
- International trade name: THANG LONG PLASTIC JOINT STOCK COMPANY;
2. Certificate of establishment or decision on establishment of the organization (No...issued by the ministry, department, local government of...on...); THALOPLAST;
- Head office address: No. 360 Giải Phóng Street, Thanh Xuân District, Hanoi City.
Article 3. The joint stock company engages in the following business activities:
- Producing, trading, and exporting industrial, household plastic products, raw materials, additives, and chemicals for the plastic industry;
- Printing on plastic packaging;
- Engaging in other businesses in accordance with the provisions of the law.
Article 4. Thang Long Plastic Joint Stock Company is a legal entity under Vietnamese law from the date of business registration, independently accounting for economic activities, using its own seal, opening bank accounts according to legal provisions, and operating according to the Company's Charter and the Law on Enterprises.
Article 5. Vietnam Plastic Corporation shall organize the sale of shares and convene the first General Meeting of Shareholders of Thang Long Plastic Joint Stock Company in accordance with current regulations.
The General Director and Chief Accountant of Vietnam Plastic Corporation are responsible for managing the operations of the factory until the full transfer of capital, assets, labor, and facilities to the Board of Directors and General Manager of the joint stock company.
Article 6. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.
The Director of the Ministry's Office, the Inspector General of the Ministry, the Heads of Departments and Bureaus under the Ministry, the General Director of Vietnam Plastic Corporation, the Director of Thang Long Plastic Factory, and the Chairman of the Board of Directors and General Manager of Thang Long Plastic Joint Stock Company are responsible for implementing this Decision./.
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Place of Receipt: |
DEPUTY MINISTER OF INDUSTRY |
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