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Hue’s largest imperial tomb set for makeover

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Hue’s largest imperial tomb set for makeover

A temple in Emperor Tu Duc’s Tomb complex. Photo: Bui Ngoc Long

Authorities in the central province of Thua Thien-Hue have approved a US$4.92-million project to renovate Emperor Tu Duc’s Tomb.

The five-year project will aim to renovate the temples, tombs and lakes in the tomb complex, according to the government website chinhphu.vn.

Funding for the project will come from the state budget and other “legal sources,” according to the local government.

The 19th century tomb of Emperor Tu Duc is situated in a narrow valley in Thuong Ba Village, Thuy Xuan Commune. It is one of the many historic spots that made the town of Hue and its citadel, palaces and tombs a UNESCO World Cultural Heritage Site in 1993.

Emperor Tu Duc reigned from 1848 to 1883 and had hundreds of wives, but no children.

Scientists now believe that a case of small pox left had rendered him sterile.

It took three years (1864-1867) to build his tomb, which is divided into a Temple Area and a Tomb Area, including a few small lakes.

Construction of the tomb demanded so much labor and extra taxation that the workers rebelled against in 1866.

Many died during the construction and rebellion, which was eventually put down.

Tu Duc later apologized for the pain his project caused and decreed that all 50 structures’ names feature the word Khiem (moderate or modest) as a reminder.

Although the monument is spectacular, it did not become Tu Duc’s final resting place, which remains unknown.

Several hundred workers who built Emperor Tu Duc’s real tomb were killed to prevent them from disclosing its whereabouts.

Since 1945, the tomb has been renovated several times, but several main features of the campus have fallen into disrepair.

Mr. Ha Van Tham- Chair of Ocean Group

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Tham is likely to be named the second dollar billionaire in Vietnam

Tham is one of the top 10 richest people on Vietnam's stock market. After six years of establishment, Ocean Group has chartered capital of VND3 trillion, an increase of 300 times. A series of mergers and acquisitions have helped the Ocean Group to rapidly emerge as a leading conglomerate.

Tham is also Chairman of the Ocean Bank, Chairman of Ocean Hospitality, Chairman of Ocean Retail, a former member of the Board of Directors of the Vietnam Dairy Products Joint Stock Company (Vinamilk) and the VS Industry Vietnam.

Currently, the Ocean Group operates in various fields, from real estate to hospitality, finance and communications. In particular, real estate has been identified as the group’s strategic business with huge projects in Hanoi, Ho Chi Minh City, Nha Trang, Da Nang, Vinh, and Quang Ninh. Some well-known projects are VNT Tower Nguyen Trai, StarCity Le Van Luong, and StarCity Center.

In the field of hotel business, the group has Ocean Hospitality (with chartered capital of VND1 trillion), which owns the hotel and resort chain StarCity, and Sunrise of 4- and 5-star standard.

In the financial sector, the group has Ocean Securities with a charter capital of VND300 billion, and the Ocean Bank. In the media sector, it has the Ocean Media.

Currently, Ocean Group holds 20% stake in Ocean Bank, 75% of the shares of Ocean Hospitality, 75% stake of Ocean Securities and 50% stake of Ocean Media.

Ocean Hospitality owns 96.92% stake in Saigon Givral, 74% of the shares of IOC, 62% stake in Tan Viet JSC, 83% shares of Suoi Mo Tourism JSC. It and owns the most famous ice cream brand in Vietnam - Trang Tien.

vietnam business times - people )

Legal Advice: Software as capital contribution

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Contributing capital with software is a new method for Vietnamese enterprises. When applying this method, enterprises need to notice matters concerning the objects and subjects of capital contribution, procedures to contribute capital, etc., to avoid fines.

According to provisions of law, a software or computer program is a genre of work entitled to copyright protection, which may be used as an asset to contribute capital to a business or as a means of payment for shares purchased by enterprises.

Subjects of capital contribution

Organizations and individuals may use software or computer program to contribute capital to an enterprise from the early preparation stage for establishment or during its operation process if they satisfy the following conditions:

(i)    Organizations and individuals are not prohibited by law from contributing capital;

(ii)    Only individuals or organizations being the copyright owners of the software or computer program have the right to use those as assets for capital contribution. Copyright owner of the software or computer program may be the direct author; co-authors; organizations or individuals assigning or entering into contracts with the author; an assignee of copyright; or an heir. The determination of the copyright owners may be approved via Certificate of Copyright Registration or not.

Valuation of assets contributed as capital

As prescribed by law, during the establishment of an enterprise, assets contributed as capital, which are neither Vietnam Dong nor freely convertible foreign currency nor gold, must be evaluated by the enterprise’s members or founding shareholders following the principle of consensus or by a professional valuation organization.

If the assets contributed as capital are valued as higher than their actual value at the time of contribution, the members or founding shareholders will jointly be liable for debts and other asset obligations of the enterprise equivalent to the difference between the valuated and actual values of the contributed assets at the end of valuation.

The assets contributed as capital during the operation process will be valued based on the agreement between the enterprise and capital contributor or valued by a professional valuation organization. In case a professional valuation organization carries out the valuation, the value of the assets contributed as capital must be approved by the capital contributor and the enterprise. 

If the contributed assets are valued to be higher than their actual value at the time of contribution, the capital contributor or the valuation organization and the enterprise’s legal representative will jointly be liable for the debts and other asset obligations of the enterprise equivalent to the difference between the valuated and actual values of the contribute assets at the end of valuation.

Enterprises intentionally incorrectly valuating assets contributed as capital from their actual value shall be fined with VND25 million to VND30 million.

Procedures for capital contribution

According to the regulations of Law on Enterprise, organizations and individuals when contributing capital to an enterprise by software must also transfer the ownership of assets to such enterprise. Specifically, in the event where the software has been certified for protection registration, capital contributor must carry out the procedures to transfer the ownership of such asset to the enterprise at competent authorities.

In the case of software with non-registered copyright, capital contributions must be made by the delivery and receipt of contributed assets endorsed by a written record. The record on such delivery and receipt must consist of the following contents: information of the two parties, type and number of units of assets contributed as capital, the total value of contributed assets, and percentage of the total value of such assets in the charter capital of the enterprise, date of delivery and receipt, and signatures of the two parties.

Capital contributor must contribute capital or pay for the shares registered for purchase fully and punctually by the type of assets as committed. When full contribution of capital is made or when the number of shares registered for purchase is sufficiently paid for, enterprises must issue a certificate for contributed capital or shares or write the capital contributor’s name into the registration book of shareholders.

Enterprises fail to issue certificates for contributed capital or fail to properly make a registration book of shareholders as prescribed by law will be fined from 10 million to 15 million Vietnam dong and required to issue a certificate of contributed capital for members or to make a registration book of shareholders in accordance with law.

Furthermore, it is important to know that even after receiving the transferred ownership of software or computer program, enterprises are only the owner of asset rights (the rights to reproduce, distribute, or lease, etc.) and the right to publish or permit others to publish the software or computer program. However, enterprises are not entitled to name or to be the real owner of the software or computer program.

PLF – LAW FIRM

Office applications will connect with the cloud service Dropbox

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vietnam business times ) Users Office applications in the future can manage and share files via the online storage service Dropbox, besides the traditional option OneDrive.
Microsoft has announced partnerships with Dropbox to allow user of Office applications have the ability to manage and share personal data through the application Mobile and website use Dropbox .
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The new features will be available in the upcoming version for Office Mobile applications  in the next few weeks, while Web-based Office users have to wait until the first half of 2015.
Although Microsoft owns a online file sharing service  named OneDrive , however, collaborated with Dropbox will help Microsoft attract more than 200 million users are using the Dropbox service.