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 |
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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 |
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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: |
September 30, 2006 |
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Item 1. Schedule of Investments. – The schedule of investments for the three-month period ended September 30, 2006 is filed herewith.
The Thai Capital Fund, Inc.
Portfolio of Investments
September 30, 2006 (unaudited)
THAI COMMON STOCKS AND WARRANTS—95.67%
COMMON STOCKS—95.41%
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Shares |
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Value |
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Automotive—3.06% |
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7,507,300 |
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S.E.C. Auto Sales and Services Public Co., Ltd. * |
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568,680 |
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93,800 |
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Thai Stanley Electric Public Co., Ltd. |
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375,284 |
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943,964 |
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Banks—19.61% |
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936,000 |
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Bangkok Bank Public Co., Ltd. |
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2,671,318 |
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1,949,800 |
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Bank of Ayudhya Public Co., Ltd. |
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894,509 |
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468,900 |
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Kasikornbank Public Co., Ltd. |
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837,956 |
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1,426,300 |
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Krung Thai Bank Public Co., Ltd. |
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433,692 |
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1,681,800 |
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Siam City Bank Public Co., Ltd. |
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888,189 |
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527,100 |
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TISCO Bank Public Co., Ltd. |
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313,519 |
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6,039,183 |
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Building Materials—14.19% |
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22,607,100 |
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Sahaviriya Steel Industries Public Co., Ltd. |
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681,380 |
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581,400 |
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The Siam Cement Public Co., Ltd. |
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3,690,779 |
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4,372,159 |
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Commerce—1.99% |
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304,600 |
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BIG C Supercenter Public Co., Ltd. |
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308,731 |
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350,800 |
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C.P. 7-Eleven Public Co., Ltd. |
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56,141 |
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485,400 |
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Robinson Department Store Public Co., Ltd. * |
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146,300 |
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55,500 |
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Siam Makro Public Co., Ltd. |
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101,403 |
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612,575 |
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Communication—4.79% |
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615,100 |
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Advanced Info Service Public Co., Ltd. |
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1,476,571 |
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Electronic Components—2.59% |
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41,200 |
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Delta Electronics (Thailand) Public Co., Ltd. |
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19,671 |
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1,052,200 |
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Hana Microelectronic Public Co., Ltd. |
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778,802 |
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798,473 |
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Energy—21.19% |
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30,500 |
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Banpu Public Co., Ltd. |
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118,773 |
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100,000 |
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Electricity Generating Public Co., Ltd. |
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213,381 |
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358,700 |
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Glow Energy Public Co., Ltd. |
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270,281 |
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732,400 |
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PTT Exploration and Production Public Co., Ltd. |
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2,070,715 |
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571,000 |
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PTT Public Co., Ltd. |
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3,289,697 |
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605,200 |
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Ratchaburi Electricity Generating Holding Public Co., Ltd. |
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564,980 |
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6,527,827 |
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Entertainment & Recreation—0.90% |
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459,800 |
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Workpoint Entertainment Public Co., Ltd. |
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277,168 |
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Finance & Securities—2.53% |
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720,800 |
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Phatra Securities Public Co., Ltd. |
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778,638 |
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Health Care Services—4.33% |
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7,037,400 |
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Bangkok Chain Hospital Public Co., Ltd. |
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1,332,713 |
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Household Goods—0.34% |
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102,700 |
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Modernform Group Public Co., Ltd. |
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105,462 |
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Mining—2.12% |
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683,800 |
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Padaeng Industry Public Co., Ltd. |
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652,035 |
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Personal Products—0.65% |
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2,307,300 |
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DSG International (Thailand) Public Co., Ltd. * |
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199,395 |
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Petrochemicals—0.76% |
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462,300 |
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Rayong Refinery Public Co., Ltd. * |
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235,518 |
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Printing & Publishing—3.35% |
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3,451,579 |
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Amarin Printing and Publishing Public Co., Ltd. |
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1,031,103 |
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Property Development—11.46% |
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77,500 |
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Amata Corporation Public Co., Ltd. |
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26,253 |
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2,935,600 |
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Asian Property Development Public Co., Ltd. |
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300,673 |
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2,179,600 |
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Central Pattana Public Co., Ltd. |
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1,116,205 |
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20,593,300 |
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Hemaraj Land and Development Public Co., Ltd. |
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483,364 |
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5,211,261 |
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Land and House Public Co., Ltd. |
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1,007,736 |
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197,000 |
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MBK Public Co., Ltd. |
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286,371 |
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1,104,000 |
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Sammakorn Public Co., Ltd. |
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87,751 |
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1,695,200 |
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Thai Industrial & Engineering Service Public Co., Ltd. * |
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105,804 |
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2,733,400 |
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TRC Construction Public Co., Ltd. |
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117,380 |
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3,531,537 |
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Retail Food—0.67% |
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348,300 |
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Minor International Public Co., Ltd. |
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88,720 |
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70,000 |
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S&P Syndicate Public Co., Ltd. |
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45,183 |
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138,000 |
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Serm Suk Public Co., Ltd. |
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71,776 |
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205,679 |
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Transportation—0.88% |
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486,300 |
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Bangkok Expressway Public Co., Ltd. |
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269,795 |
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Total Common Stocks (Cost—$21,168,948) |
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29,389,795 |
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WARRANTS—0.26%
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Shares |
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Value |
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Banks—0.17% |
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352,400 |
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Bank of Ayudhya Public Co., Ltd., expires 9/3/08 * |
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50,757 |
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Electrical—0.01% |
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219,000 |
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Mida Assets Public Co., Ltd., expires 2/8/09 * |
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2,804 |
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2
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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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657 |
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Utilities—0.08% |
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796,960 |
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Eastern Water Resources Development & Management Public Co., Ltd., expires 11/28/07 * |
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24,871 |
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Total Warrants (Cost—$57,836) |
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79,089 |
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Total Thai Common Stocks and Warrants (Cost—$21,226,784) |
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29,468,884 |
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SHORT-TERM INVESTMENTS—7.98%
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Principal |
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Amount |
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Value |
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(000) |
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THAI BAHT SAVINGS ACCOUNT—6.96% |
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80,370 |
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Bangkok Bank Savings Account, 0.5%, due 10/2/06 |
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2,143,682 |
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U.S. DOLLAR TIME DEPOSIT—0.29% |
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$91 |
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Bank of New York, 0.05%, due 10/2/06 |
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90,659 |
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U.S. TREASURY BILL—0.73% |
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225 |
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U.S. Treasury Bill, 4.87%, due 11/2/06 |
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224,050 |
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Total Short-Term Investments (Cost—$2,462,172) |
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2,458,391 |
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Total Investments—103.65% |
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31,927,275 |
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Liabilities in excess of other assets—(3.65%) |
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(1,125,422 |
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NET ASSETS |
(Applicable to 3,146,562 shares of capital stock outstanding; equivalent to $9.79 per share) |
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100.00 |
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$ 30,801,853 |
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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 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.
(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 & Treasurer |
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Date: October 6, 2006
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: October 6, 2006 |
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John J. O’Keefe, Vice President & Treasurer |
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\s\ Masamichi Yokoi |
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Date: October 6, 2006 |
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Masamichi Yokoi, Chairman |
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