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UNITED STATES |
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FORM N-Q |
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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 |
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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, 2005 |
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Date of reporting period: |
March 31, 2005 |
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Item 1. Schedule of Investments. – The schedule of investments for the three-month period ended March 31, 2005 is filed herewith.
The Thai Capital Fund, Inc.
Portfolio of Investments
March 31, 2005 (unaudited)
THAI COMMON, WARRANTS AND PREFERRED STOCKS—90.52%
COMMON STOCKS—89.39%
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Shares |
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Value |
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Banks—17.83% |
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1,000,900 |
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Bangkok Bank Public Co., Ltd. |
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$ |
2,571,162 |
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776,800 |
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Bank of Ayudhya Public Co., Ltd. * |
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231,160 |
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899,200 |
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Kasikornbank Public Co., Ltd. |
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1,246,437 |
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3,276,100 |
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Krung Thai Bank Public Co., Ltd. |
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737,425 |
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1,881,239 |
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Thai Military Bank Public Co., Ltd. |
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171,295 |
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4,957,479 |
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Building Materials—9.53% |
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414,000 |
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The Siam Cement Public Co., Ltd. |
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2,632,436 |
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54,000 |
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Tycoons Worldwide Group Public Co., Ltd. |
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16,756 |
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2,649,192 |
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Chemicals—2.39% |
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190,000 |
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National Petrochemical Public Co., Ltd. |
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521,909 |
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82,000 |
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Thai Olefins Public Co., Ltd. |
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141,821 |
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663,730 |
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Commerce—1.23% |
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304,600 |
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BIG C Supercenter Public Co., Ltd. |
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179,736 |
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56,700 |
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C.P. 7-Eleven Public Co., Ltd. |
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82,201 |
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55,500 |
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Siam Makro Public Co., Ltd. |
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79,049 |
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340,986 |
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Communication—12.72% |
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602,500 |
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Advanced Info Service Public Co., Ltd. |
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1,532,408 |
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1,101,200 |
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Samart Corp. Public Co., Ltd. * |
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162,447 |
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1,047,700 |
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Shin Corporations Public Co., Ltd. |
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1,045,909 |
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687,900 |
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Shin Satellite Public Co., Ltd. |
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281,688 |
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394,400 |
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United Communication Industry Public Co., Ltd. * |
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516,609 |
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3,539,061 |
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Electronic Components—0.34% |
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700,000 |
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KCE Electronics Public Co., Ltd. |
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95,251 |
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Energy—21.38% |
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100,000 |
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Electricity Generating Public Co., Ltd. |
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188,213 |
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342,100 |
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PTT Exploration and Production Public Co., Ltd. |
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2,592,906 |
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645,000 |
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PTT Public Co., Ltd. |
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3,166,172 |
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5,947,291 |
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Entertainment & Recreation—3.37% |
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1,131,000 |
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BEC World Public Co., Ltd. |
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422,861 |
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135,700 |
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GMM Media Public Co., Ltd. |
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64,541 |
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373,800 |
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ITV Public Co., Ltd. * |
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122,644 |
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268,253 |
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Major Cineplex Group Public Co., Ltd. |
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81,191 |
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160,300 |
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MCOT Public Co., Ltd. |
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92,142 |
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272,777 |
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United Broadcasting Corp. Public Co., Ltd. * |
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154,714 |
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938,093 |
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Finance & Securities—1.23% |
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64,600 |
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Asia Plus Securities Public Co., Ltd. |
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112,549 |
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348,600 |
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Thitikorn Public Co., Ltd. |
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57,631 |
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267,600 |
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TISCO Finance Public Co., Ltd. |
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171,856 |
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342,036 |
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1
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Household Goods—0.36% |
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102,700 |
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Modernform Group Public Co., Ltd. |
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99,912 |
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Mining—0.91% |
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683,800 |
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Padaeng Industry Public Co., Ltd. |
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252,182 |
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Printing & Publishing—3.16% |
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3,451,579 |
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Amarin Printing and Publishing Public Co., Ltd. |
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877,880 |
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Property Development—6.26% |
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1,361,000 |
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Italian-Thai Development Public Co., Ltd. |
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356,544 |
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415,500 |
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Lalin Property Public Co., Ltd. |
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69,220 |
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4,178,200 |
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Land and House Public Co., Ltd. |
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897,973 |
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540,700 |
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Noble Development Public Co., Ltd. |
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68,761 |
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1,104,000 |
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Sammakorn Public Co., Ltd. |
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61,213 |
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995,100 |
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SinoThai Engineering & Construction Public Co., Ltd. |
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285,998 |
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1,739,709 |
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Retail Food—1.16% |
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70,000 |
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S&P Syndicate Public Co., Ltd. |
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40,949 |
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138,000 |
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Serm Suk Public Co., Ltd. |
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77,569 |
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290,900 |
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Thai Union Frozen Products Public Co., Ltd. |
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205,317 |
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323,835 |
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Transportation—4.93% |
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1,145,300 |
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Bangkok Expressway Public Co., Ltd. |
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786,503 |
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490,000 |
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Thai Airways International Public Co., Ltd. |
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585,749 |
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1,372,252 |
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Utilities—0.99% |
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298,862 |
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Eastern Water Resources Development & Management Public Co., Ltd. |
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275,547 |
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Vehicles & Parts—1.60% |
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100,150 |
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Aapico Hitech Public Co., Ltd. |
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86,606 |
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100,000 |
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Thai Rung Union Car Co., Ltd. |
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24,798 |
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93,800 |
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Thai Stanley Electric Public Co., Ltd. |
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334,001 |
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445,405 |
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Total Common Stocks (Cost—$14,664,570) |
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24,859,841 |
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PREFERRED STOCKS—0.25%
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Shares |
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Value |
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Finance & Securities—0.25% |
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109,900 |
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TISCO
Finance Public Co., Ltd. |
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70,579 |
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WARRANTS—0.88%
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Shares |
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Value |
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Household Goods—0.00% |
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10,270 |
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Modernform Group Public Co., Ltd., expires 12/1/07 * |
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893 |
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Property Development—0.84% |
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1,331,400 |
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Land & House Public Co., Ltd., expires 9/2/08 * |
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221,803 |
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165,850 |
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SinoThai Engineering & Construction Public Co., Ltd., expires 3/17/08 * |
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11,811 |
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233,614 |
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Utilities—0.04% |
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79,696 |
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Eastern Water Resources Development & Management Public Co., Ltd., expires 11/28/07 * |
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9,487 |
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Total Warrants (Cost—$13,004) |
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243,994 |
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Total Thai Common, Warrants and Preferred Stocks (Cost—$14,725,742) |
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25,174,414 |
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2
SHORT-TERM INVESTMENTS—3.33%
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Principal |
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Value |
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THAI BAHT PROMISSORY NOTES—3.20% |
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20,000 |
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TSFC Securities Public Co., Ltd. 1.875% (Payable on Demand) |
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508,683 |
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15,000 |
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UOB Radanasin Bank Public Co., Ltd. 1.75% (Payable on Demand) |
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381,512 |
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Total Thai Baht Promissory Notes |
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890,195 |
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U.S. DOLLAR TIME DEPOSIT—0.13% |
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36 |
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Bank of New York, 0.05%, due 4/1/05 |
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35,815 |
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Total Short-Term Investments (Cost—$935,706) |
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926,010 |
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Total
Investments—93.85% |
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26,100,424 |
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Other assets less liabilities—6.15% |
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1,711,654 |
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NET ASSETS |
(Applicable to 3,139,500 shares of capital stock outstanding; equivalent to $8.86 per share) |
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100.00 |
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27,812,078 |
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* Non-income producing securities.
See accompanying notes to financial statements.
3
Item 2. Controls and Procedures.
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.
b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (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.
(a) Certification of Principal Executive Officer and Principal Financial Officer of the Registrant as required by Rule 30-a-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 & Treasurer |
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Date: April 20, 2005
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 20, 2005 |
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John J. O’Keefe, Vice President & Treasurer |
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\s\ Ikuo Mori |
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Date: April 20, 2005 |
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Ikuo Mori, Chairman |
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