Reorganization of the member enterprises of SBIC

5. Decision No. 606/QD-CNT:

On the implementation the plan on restructuring and reorganizing The parent company -  Ha Long Shipyard One Member Co., Ltd  operating in the form of parent company - subsidiary into Ha Long Shipyard One Member Co., Ltd.

Its short name was HA LONG SHIPYARD.

English trading name was HA LONG SHIPBUILDING COMPANY LIMITED.        

Registered capital : VND 1.355.000.000.000 (provisional).

6. Decision No. 607/QD-CNT:

On the implementation the plan on restructuring and reorganizing The parent company -  Cam Ranh Shipyard One Member Co., Ltd  operating in the form of parent company - subsidiary into Cam Ranh Shipyard One Member Co., Ltd.

Its short name was HA LONG SHIP YARD

English trading name was HA LONG SHIPBUILDING COMPANY LIMITED.        

Registered capital : VND 767.000.000.000 (provisional).

7. Decision No. 608/QD-CNT:

On the implementation of the plan on restructuring, maintaining the management model, organizational structure of Thinh Long Shipyard One Member Co., Ltd.

English trading name was THINH LONG SHIPYARD COMPANY LIMITED.

Abbreviation: THINH LONG SHIPYARD Company.

Short name: THINHLONG SHIPYARD.

Registered capital : VND 120.310.000.000 (provisional).

8. Decision No. 609/QD-CNT:

On the implementation of the restructuring scheme for Song Cam Shipyard Joint Stock Company, choosing the appropriate line and plan, roadmap to transfer capital to Damen partner (Netherlands), construction and development of SONG CAM brand to the highlighted brand for the shipbuilding industry.

The decisions mentioned above all states the restructuring of investment, business administration, rights and obligations of the units with the successor of the old company.

Seven one member limited liability companies (from Decision No. 602/QD-CNT to No. 608/QD-CNT) are held 100% by the State for capital. Especially Song Cam Shipyard (Decision No. 609/QD-CNT), Article 3 clearly stated that: The representative of SBIC for capital management at the unit is responsible for coordinating with the Board of Directors of the Company on aggressive deployment: Scheme on restructuring Song Cam Shipyard Joint Stock Company approved by the Ministry of Transportation.

Thus, from this time, SBIC has 7 units of state-owned companies and 1 unit of joint stock company. These are the focal points of the industry of building and repairing ships distributed across 3 regions: North, Centre and South.

In the decisions issued above, there are some articles specializing the assignment of mission of SBIC for each unit such as newly building carriage ships with capacity of 70,000 DWT, 3000TEU container ships, crude oil, finished oil tankers with capacity from 50,000 tons to 700,000 tons. Or shifting investment into the field of repairing ships and water transport vehicles domestically and internationally; Newly building steel fishing boats, fishing logistics ships for fishermen, tourist ships, etc.

The new points has proven SBIC has a strong shift to the market economy and international integration. As well as preparation for equitization of the shipbuilding units, the decisions are issued by the Government, the Ministry of Transport during the process of restructuring the Group of Shipbuilding Industry of Vietnam - Vinashin to establish Vinashin - SBIC.