Appraisal of the project to reorganize and innovate forestry companies: The State holds 55% of shares

This afternoon, December 25, Acting Chairman of the People's Committee of Quang Tri province, Ha Sy Dong, chaired a meeting to appraise the restructuring and renovation projects of the forestry single-member limited liability companies: Ben Hai, Duong 9, and Trieu Hai.

Acting Chairman of the Provincial People's Committee Ha Sy Dong concluded the meeting - Photo: LA

Forestry LLCs: Ben Hai, Duong 9, Trieu Hai, 100% state-owned, with a land management area of ​​more than 17,000 hectares including protective forests and production forests.

Regarding the current financial status, the total capital of the 3 companies reached over 185.7 billion VND, of which equity was over 96.2 billion VND. The total number of employees of the 3 companies was 276 people.

During their operations, the companies have closely followed their functions, tasks, and practical situations regarding land, labor, and finance, ensuring compliance with legal regulations.

Annual business activities are profitable; the after-tax profit margin on total assets in 2023 is from 6.6% - 11.44%; State capital is preserved.

To reorganize and innovate, all forestry LLCs chose to convert from 100% state-owned companies into joint stock companies. In which, the state holds 65% of shares, investors hold 35% of shares.

Proposing solutions to implement the project of restructuring and innovating companies including: determining functions, tasks, business lines; land use plans; plans for using forest types; plans for managing and using infrastructure works; solutions on finance, investment, credit, labor, science and technology, processing, and market.

Through the arrangement and innovation of forestry companies to manage, protect, develop and sustainably use forest resources; improve the efficiency of production and business activities; create jobs and increase income for workers.

After listening to the explanations of forestry companies and the comments of the appraisal council members, Acting Chairman of the Provincial People's Committee Ha Sy Dong agreed with the proposed plan to convert forestry companies into joint stock companies. In which, the State holds 55% of shares, the remaining 45% is held by investors.

However, in the process of equitization, forestry companies are required to review and prioritize the participation of employees in the company in buying shares at a rate of about 20% of the remaining 45% to create cohesion, contribute to community responsibility for sustainable company development, and at the same time create additional income for employees.

Forestry companies urgently review and separate areas of land that overlap with local areas; thoroughly handle areas that are being illegally encroached upon and completed the handover of unused and encroached land areas, and request their recovery to local management before January 30, 2025.

Review joint venture forestation contracts and immediately liquidate areas that have completed their forestation cycle. Research and develop a financial plan for mapping, boundary marking, and issuance and renewal of land use right certificates.

Use funds from the equitization source to hire consultants to evaluate orchards. Require forestry companies to urgently complete the project, ensuring full basis and foundation for each content before January 30, 2025. Assign the Department of Agriculture and Rural Development to coordinate with relevant units to appraise step 1 before submitting to the appraisal council.

Le An

Source: https://baoquangtri.vn/tham-dinh-de-an-sap-xep-doi-moi-cac-cong-ty-lam-nghiep-nbsp-nha-nuoc-nam-giu-55-co-phan-190637.htm