UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
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Investment Company Act file number |
811-06062 |
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THE THAI CAPITAL FUND, INC. |
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(Exact name of registrant as specified in charter) |
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c/o Daiwa Securities Trust Company One Evertrust Plaza Jersey City, New Jersey |
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07302 |
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(Address of principal executive offices) |
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(Zip code) |
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John J. O’Keefe The Thai Capital Fund, Inc. c/o Daiwa Securities Trust Company One Evertrust Plaza Jersey City, New Jersey 07302 |
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(Name and address of agent for service) |
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Registrant's telephone number, including area code: |
(201) 915-3054 |
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Date of fiscal year end: |
December 31 |
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Date of reporting period: |
March 31, 2008 |
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Item 1. Schedule of Investments. – The schedule of investments for the three-month period ended March 31, 2008 is filed herewith.
The Thai Capital Fund, Inc.
Portfolio of Investments
March 31, 2008 (unaudited)
COMMON STOCKS—96.60%
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Shares |
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Value |
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Banks—25.62% |
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1,086,400 |
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Bangkok Bank Public Co., Ltd. |
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4,668,033 |
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948,600 |
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Bank of Ayudhya Public Co., Ltd. |
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697,438 |
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1,973,300 |
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Kasikornbank Public Co., Ltd. |
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5,652,571 |
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800,000 |
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Krung Thai Bank Public Co., Ltd. |
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257,171 |
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11,275,213 |
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Commerce—5.40% |
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288,400 |
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BIG C Supercenter Public Co., Ltd. |
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445,192 |
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2,877,200 |
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CP ALL Public Co., Ltd. |
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952,388 |
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4,884,800 |
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Home Product Center Public Co., Ltd. |
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800,690 |
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55,400 |
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Siam Makro Public Co., Ltd. |
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176,328 |
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2,374,598 |
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Communication—5.24% |
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603,000 |
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Advanced Info Service Public Co., Ltd. |
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1,919,233 |
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251,900 |
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Interlink Communication Public Co., Ltd. |
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59,330 |
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1,000,000 |
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Shin Satellite Public Co., Ltd. * |
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327,829 |
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2,306,392 |
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Construction—1.56% |
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76,800 |
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The Siam Cement Public Co., Ltd. |
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523,101 |
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1,486,100 |
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Vanachai Group Public Co., Ltd. |
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162,711 |
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685,812 |
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Energy—19.72% |
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154,700 |
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Banpu Public Co., Ltd. |
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2,048,302 |
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700,000 |
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PTT Exploration and Production Public Co., Ltd. |
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3,364,228 |
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280,000 |
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PTT Public Co., Ltd. |
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2,816,148 |
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200,900 |
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Thai Oil Public Co., Ltd. |
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447,598 |
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8,676,276 |
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Finance & Securities—2.24% |
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2,000,000 |
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Thanachart Capital Public Co., Ltd. |
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986,670 |
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Food & Beverage—1.56% |
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1,000,000 |
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Minor International Public Co., Ltd. |
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537,895 |
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70,000 |
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S&P Syndicate Public Co., Ltd. |
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69,624 |
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138,000 |
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Serm Suk Public Co., Ltd. |
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80,818 |
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688,337 |
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Health Care Services—3.24% |
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6,213,400 |
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Bangkok Chain Hospital Public Co., Ltd. |
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1,423,876 |
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Household Goods—0.29% |
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102,700 |
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Modernform Group Public Co., Ltd. |
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129,115 |
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Machinery—2.33% |
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3,758,000 |
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C.I. Group Public Co., Ltd. |
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759,523 |
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1,210,000 |
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Unimit Engineering Public Co., Ltd. |
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265,733 |
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1,025,256 |
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Media & Publishing—7.54% |
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3,451,579 |
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Amarin Printing and Publishing Public Co., Ltd. |
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1,527,014 |
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1,481,900 |
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BEC World Public Co., Ltd. |
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1,344,232 |
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500,000 |
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MCOT Public Co., Ltd. |
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445,593 |
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3,316,839 |
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Mining—1.67% |
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683,800 |
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Padaeng Industry Public Co., Ltd. |
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734,536 |
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Packaging—0.55% |
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2,412,800 |
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Multibax Public Co., Ltd. |
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242,672 |
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Personal Products—1.24% |
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2,957,200 |
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DSG International (Thailand) Public Co., Ltd. |
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545,908 |
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Petrochemicals—3.32% |
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322,400 |
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PTT Chemical Public Co., Ltd. |
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1,077,444 |
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1,543,400 |
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Vinythai Public Co., Ltd. |
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383,163 |
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1,460,607 |
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Property Development—14.22% |
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113,500 |
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Ascon Construction Public Co., Ltd. |
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23,120 |
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2,000,000 |
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Asian Property Development Public Co., Ltd. |
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477,421 |
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700,000 |
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Central Pattana Public Co., Ltd. |
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629,400 |
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6,882,800 |
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L.P.N. Development Public Co., Ltd. |
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1,708,717 |
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1,000,000 |
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Land and House Public Co., Ltd. |
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310,324 |
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474,700 |
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Preuksa Real Estate Public Co., Ltd. |
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151,088 |
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8,992,500 |
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Quality Houses Public Co., Ltd. |
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784,226 |
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1,423,200 |
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Rojana Industrial Park Public Co., Ltd. |
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729,293 |
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1,104,000 |
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Sammakorn Public Co., Ltd. |
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75,899 |
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5,105,600 |
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Thai Industrial & Engineering Service Public Co., Ltd. |
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243,752 |
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4,973,000 |
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TRC Construction Public Co., Ltd. |
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1,123,795 |
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6,257,035 |
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Transportation—0.86% |
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486,300 |
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Bangkok Expressway Public Co., Ltd. |
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314,203 |
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400,000 |
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Eternity Grand Logistics Public Co., Ltd. |
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62,128 |
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376,331 |
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Total Common Stocks (Cost—$32,391,223) |
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42,505,473 |
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SHORT-TERM INVESTMENTS—4.46%
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Principal |
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Value |
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THAI BAHT SAVINGS ACCOUNT—3.68% |
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50,943 |
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Bangkok Bank Savings Account, 0.5%, due 4/1/08 |
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1,621,408 |
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U.S. DOLLAR TIME DEPOSIT—0.21% |
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93 |
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Bank of New York, 0.05%, due 4/1/08 |
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93,321 |
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U.S. TREASURY BILL—0.57% |
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250 |
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U.S. Treasury Bill, 1.97%, due 5/15/08 |
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249,409 |
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Total Short-Term Investments (Cost—$1,969,856) |
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1,964,138 |
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Total
Investments—101.06% |
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44,469,611 |
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Liabilities in excess of other assets—(1.06%) |
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(467,265 |
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NET ASSETS |
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(Applicable to 3,163,037 shares of capital stock outstanding; equivalent to $13.91 per share) |
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44,002,346 |
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2
* Non-income producing securities.
For federal income tax purposes, the cost of securities owned at March 31, 2008 was $32,413,395, excluding short-term interest bearing investments. At March 31, 2008, the net unrealized appreciation on investments, excluding short-term securities, of $10,092,076 was composed of gross appreciation of $10,689,626 for those investments having an excess of value over cost, and gross depreciation of $597,550 for those investments having an excess of cost over value.
3
Item 2. Controls and Procedures.
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a) |
The Registrant’s Principal Executive Officer and Principal Financial Officer concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) were effective as of a date within 90 days prior to the filing date of this report (the “Evaluation Date”), based on their evaluation of the effectiveness of the Registrant’s disclosure controls and procedures as of the Evaluation Date. |
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b) |
There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 (17 CFR 270.30a-3(d)) that occurred during the Registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting. |
Item 3. Exhibits.
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(a) |
Certification of Principal Executive Officer and Principal Financial Officer of the Registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is attached hereto as Exhibit 99.302CERT. |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
The Thai Capital Fund, Inc.
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By |
\s\John J. O’Keefe |
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John J. O’Keefe, Vice President and Treasurer |
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Date: April 8, 2008
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
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By |
\s\John J. O’Keefe |
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Date: April 8, 2008 |
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John J. O’Keefe, Vice President and Treasurer |
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\s\ Masamichi Yokoi |
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Date: April 8, 2008 |
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Masamichi Yokoi, Chairman |
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