Proposal to divest state capital at Quang Nam Register Joint Stock Company

Currently, the state capital ratio at Quang Nam Register Joint Stock Company is only 28.31% of the total charter capital.

Currently, the state capital ratio at Quang Nam Register Joint Stock Company is only 28.31% of the total charter capital.

Quang Nam Provincial People's Committee has just proposed the Prime Minister and Central Ministries and Branches to consider and decide on divestment of capital at Quang Nam Register Joint Stock Company.

Accordingly, the People's Committee of Quang Nam province said that Quang Nam Register Joint Stock Company has been equitized and put into operation since February 2018.

The company operates in the field of inspection, issuance of certificates of technical safety and environmental protection for motor vehicles, specialized equipment installed on motor vehicles, acceptance, issuance of certificates for modified motor vehicles, assessment of technical condition of motor vehicles at the request of competent authorities, and collection of road use fees. Currently, the state capital ratio at Quang Nam Registration Joint Stock Company is only 28.31% of the total charter capital.

Quang Nam Provincial People's Committee believes that holding shares less than 36% of the current charter capital is very difficult for the representative of the state capital at the Company when having opinions related to the contents that need to be voted on. With this capital contribution ratio according to regulations, shareholders do not have the right to decide and veto the contents of the Company's policies, guidelines, and production and business activities.

Over the years of operation, the Company's production and business results have achieved low profits and low efficiency. The Company's operations are facing many difficulties in the current period.

Therefore, to preserve the state capital at Quang Nam Register Joint Stock Company, the People's Committee of Quang Nam province reports to the Prime Minister for consideration and decision to divest state capital at Quang Nam Register Joint Stock Company in the period of 2021-2025.

Source: https://baodautu.vn/de-xuat-thoai-von-nha-nuoc-tai-cong-ty-co-phan-dang-kiem-quang-nam-d240211.html