VietnameseDecision No. 116/QD-TTg dated January 27, 2003 of the Prime Minister on sale of equities to foreign investors by Saigon Shipping Joint Stock Company
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| Issuing body: | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here | |
| Official number: | 116/QD-TTg | Signer: | |
| Type: | Decision | Expiry date: | Updating |
| Issuing date: | 27/01/2003 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Enterprise, Investment |
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THE PRIME MINISTER OF GOVERNMENT | SOCIALIST REPUBLIC OF VIET NAM |
No: 116/QD-TTg | Hanoi , Day 27 month 01 year 2003 |
DECISION
ON SALE OF EQUITIES TO FOREIGN INVESTORS BY SAIGON SHIPPING JOINT-STOCK COMPANY
THE PRIME MINISTER
Pursuant to the Law on Organization of the Government of December 25, 2001;
Pursuant to the Prime Minister’s Decision No. 145/1999/QD-TTg of June 28, 1999 promulgating the Regulation on sale of equities to foreign investors;
Pursuant to the Prime Minister’s Decision No. 512/QD-TTg of April 26, 2001 on the experimental application of the model of corporation contributing capital to member enterprises to Vietnam National Shipping Lines;
At the proposals of the Management Board of Vietnam National Shipping Lines and the Ministry of Communications and Transport,
DECIDES:
Article 1.- To approve the plan on sale of equities to foreign investors by Saigon Shipping Joint-Stock Company.
1. Charter capital of the joint-stock company is VND 9,000,000,000, in which:
- Number of equities to be sold to Wallem Shipping Limited (Thailand) are 2,250, which are valued at VND 225,000,000 (2.5% of charter capital).
- The State’s equities: VND 1,800,000,000 (20% of charter capital).
- Equities of officials and employees of the company: VND 5,400,000,000 (60% of charter capital).
- Equities of shareholders outside the company: VND 1,575,000,000 (17.5% of charter capital).
2. Saigon Shipping Joint-Stock Company shall be a member enterprise of Vietnam National Shipping Lines.
3. Vietnam National Shipping Lines shall act as representative of the owner of the State capital amount of VND 1,800,000,000 (20% of charter capital) at Saigon Shipping Joint-Stock Company and have to manage and use the above-mentioned capital amount efficiently.
Article 2.- Saigon Shipping Joint-Stock Company shall have its headquarters and business lines prescribed in Decision No. 538/2002/QD-BGTVT of March 1, 2002 of the Minister of Communications and Transport.
Article 3.- This Decision takes effect after its signing. The Management Board of Vietnam National Shipping Lines, the Management Board of Saigon Shipping Joint-Stock Company and the concerned agencies shall have to implement this Decision.
| FOR THE PRIME MINISTER |
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