N-Q 1 a05-19254_2nq.htm QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number

811-06024

 

 

THE INDONESIA FUND, INC.

(Exact name of registrant as specified in charter)

 

c/o Credit Suisse Asset Management, LLC
466 Lexington Avenue
New York, New York

 

10017

(Address of principal executive offices)

 

(Zip code)

 

J. Kevin Gao, Esq.
466 Lexington Avenue
New York, New York 10017

(Name and address of agent for service)

 

Registrant's telephone number, including area code:

(212) 875-3500

 

 

Date of fiscal year end:

December 31st

 

 

 

 

Date of reporting period:

July 1, 2005 to September 30, 2005

 

 


 

Item 1:   Schedule of Investments

 

The Indonesia Fund, Inc.

Schedule of Investments - September 30, 2005 (unaudited)

 

Description

 

No. of
Shares/Units

 

Value

 

EQUITY OR EQUITY-LINKED SECURITIES-94.23%

 

 

 

 

 

 

 

 

 

 

 

Indonesia-85.18%

 

 

 

 

 

 

 

 

 

 

 

Automotive-7.76%

 

 

 

 

 

PT Astra International Tbk

 

3,681,461

 

$

3,498,860

 

 

 

 

 

 

 

Banks-14.70%

 

 

 

 

 

PT Bank Central Asia Tbk

 

7,802,500

 

2,622,023

 

PT Bank Danamon Indonesia Tbk

 

2,113,000

 

828,221

 

PT Bank Internasional Indonesia Tbk

 

42,733,000

 

668,070

 

PT Bank Pan Indonesia Tbk

 

8,819,000

 

416,711

 

PT Bank Rakyat Indonesia

 

7,965,000

 

2,094,821

 

 

 

 

 

6,629,846

 

 

 

 

 

 

 

Building & Construction-Miscellaneous-0.67%

 

 

 

 

 

PT Adhi Karya Tbk

 

5,657,000

 

302,748

 

 

 

 

 

 

 

Building Products-Cement/Aggregate-1.87%

 

 

 

 

 

PT Indocement Tunggal Prakarsa Tbk †

 

2,985,000

 

843,299

 

 

 

 

 

 

 

Coal Mining & Steel-5.19%

 

 

 

 

 

PT Bumi Resources Tbk

 

26,693,000

 

2,339,274

 

 

 

 

 

 

 

Food & Kindred Products-0.46%

 

 

 

 

 

PT Indofood Sukses Makmur Tbk

 

2,911,000

 

206,514

 

 

 

 

 

 

 

Gas-Distribution-4.81%

 

 

 

 

 

PT Perusahaan Gas Negara

 

5,339,500

 

2,169,966

 

 

 

 

 

 

 

Machinery-Construction & Mining-4.23%

 

 

 

 

 

PT United Tractors Tbk

 

5,044,200

 

1,906,076

 

 

 

 

 

 

 

Medical-Drugs-2.36%

 

 

 

 

 

PT Kalbe Farma Tbk

 

9,690,800

 

802,199

 

PT Tempo Scan Pacific Tbk

 

448,500

 

261,640

 

 

 

 

 

1,063,839

 

 

 

 

 

 

 

Oil Exploration & Production-5.88%

 

 

 

 

 

PT Energi Mega Persada Tbk

 

11,616,000

 

892,569

 

PT Medco Energi Internasional Tbk

 

5,008,000

 

1,761,228

 

 

 

 

 

2,653,797

 

 

 

 

 

 

 

Real Estate Operations/Development-0.89%

 

 

 

 

 

PT Summarecon Agung Tbk

 

5,572,000

 

400,986

 

 

 

 

 

 

 

Retail-Computer Equipment-1.62%

 

 

 

 

 

PT Multipolar Corporation Tbk †

 

50,000,000

 

728,863

 

 

 

 

 

 

 

Retail-Major Department Stores-4.60%

 

 

 

 

 

PT Matahari Putra Prima Tbk

 

11,668,000

 

954,138

 

PT Mitra Adiperkasa Tbk

 

5,728,000

 

609,677

 

PT Ramayana Lestari Sentosa Tbk

 

6,746,000

 

511,486

 

 

 

 

 

2,075,301

 

 

 

 

 

 

 

Rubber-Tires-2.19%

 

 

 

 

 

PT Gajah Tunggal Tbk †

 

18,145,000

 

989,092

 

 

 

 

 

 

 

Soap & Cleaning Preparation-1.47%

 

 

 

 

 

PT Unilever Indonesia Tbk

 

1,678,000

 

665,134

 

 

 

 

 

 

 

Telecommunications-24.94%

 

 

 

 

 

PT Indosat Tbk

 

3,822,000

 

1,938,693

 

PT Telekomunikasi Indonesia

 

17,856,560

 

9,306,965

 

 

 

 

 

11,245,658

 

 

 

 

 

 

 

Tobacco-1.54%

 

 

 

 

 

PT Gudang Garam Tbk

 

654,500

 

694,371

 

 

 

 

 

 

 

Total Indonesia
(Cost $28,384,045)

 

 

 

38,413,624

 

 


 

Hong Kong-0.91%

 

 

 

 

 

 

 

 

 

 

 

Apparel Manufacturers-0.91%

 

 

 

 

 

Ports Design Ltd.
(Cost $123,796)

 

362,000

 

$

411,586

 

 

 

 

 

 

 

India-2.29%

 

 

 

 

 

 

 

 

 

 

 

Banks-2.29%

 

 

 

 

 

Reliance Industries (ABN AMRO), Regulation S, ELN, warrants expiring 2/24/06
(Cost $729,657)

 

57,400

 

1,033,906

 

 

 

 

 

 

 

Singapore-2.16%

 

 

 

 

 

 

 

 

 

 

 

Engineering/R&D Services-2.16%

 

 

 

 

 

SembCorp Industries Ltd.
(Cost $695,006)

 

547,520

 

973,772

 

 

 

 

 

 

 

Taiwan-1.87%

 

 

 

 

 

 

 

 

 

 

 

Electronic Components-Miscellaneous-1.87%

 

 

 

 

 

Chi Mei Optoelectronics Corp., GDR
(Cost $1,009,780)

 

76,228

 

841,862

 

 

 

 

 

 

 

Thailand-1.82%

 

 

 

 

 

 

 

 

 

 

 

Banks-1.04%

 

 

 

 

 

Siam City Bank Public Company Ltd.

 

722,000

 

471,560

 

 

 

 

 

 

 

Building-Heavy Construction-0.78%

 

 

 

 

 

Italian-Thai Development Public Company Ltd.

 

1,469,000

 

350,571

 

 

 

 

 

 

 

Total Thailand
(Cost $740,659)

 

 

 

822,131

 

 

 

 

 

 

 

TOTAL EQUITY OR EQUITY-LINKED
SECURITIES (Cost $31,682,943)

 

 

 

42,496,881

 

 

 

 

 

 

 

 

 

 

Principal Amount
(000’s)

 

 

 

SHORT-TERM INVESTMENT-9.57%

 

 

 

 

 

 

 

 

 

 

 

Grand Cayman-9.57%

 

 

 

 

 

Wells Fargo Bank N.A., overnight deposit, 3.06%,
10/03/05* (Cost $4,314,000)

 

$

4,314

 

4,314,000

 

 

 

 

 

 

 

TOTAL INVESTMENTS-103.80%
(Cost $35,996,943)

 

 

 

46,810,881

 

 

 

 

 

 

 

Liabilities in excess of cash and
other assets-(3.80)%

 

 

 

(1,712,217

)

 

 

 

 

 

 

NET ASSETS-100.00%

 

 

 

$

45,098,664

 

 

†                                          Non-income producing security.

*                                         Variable rate account.  Rate resets on a daily basis; amounts are available on the same business day.

ELN                         Equity linked note.

GDR                       Global Depository Receipt.

 

Security Valuation - The net asset value of the Fund is determined daily as of the close of regular trading on the New York Stock Exchange, Inc. (the “Exchange”) on each day the Exchange is open for business.  The Fund’s equity investments are valued at market value, which is generally determined using the closing price on the exchange or market on which the security is primarily traded at the time of valuation (the “Valuation Time”).  If no sales are reported, equity investments are generally valued at the most recent bid quotation as of the Valuation Time or at the lowest ask quotation in the case of a short sale of securities. Debt securities with a remaining maturity greater than 60 days are valued in accordance with the price supplied by a pricing service, which may use a matrix, formula or other objective method that takes into consideration market indices, yield curves and other specific adjustments.  Debt obligations that will mature in 60 days or less are valued on the basis of amortized cost, which approximates market value, unless it is determined that this method would not represent fair value.  Securities and other assets for which market quotations are not readily available, or whose values have been materially affected by events occurring before the Fund’s Valuation Time, but after the close of the securities’ primary market, are valued at fair value as determined in good faith by, or under the direction of, the Board of Directors under procedures established by the Board of Directors.  The Fund may utilize a service provided by an independent third party which has been approved by the Board of Directors to fair value certain securities.  The Fund’s estimate of fair value assumes a willing buyer and a willing seller neither acting under a compulsion to buy or sell.

 

Federal Income Tax Cost - At September 30, 2005, the identified cost for federal income tax purposes, as well as the gross unrealized appreciation from investments for those securities having an excess of value over cost, gross unrealized depreciation from investments for those securities having an excess of cost over value and the net unrealized appreciation from investments were $36,699,287, $11,849,716, $(1,738,122) and $10,111,594, respectively.

 

Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders.  This information is also available on the Fund’s website at http://www.csam.com/us as well as on the website of the Securities and Exchange Commission - http://www.sec.gov.

 


 

Item 2:          Controls and Procedures

 

(a)                                  As of a date within 90 days from the filing date of this report, the 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 (the “Act”)), were effective based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities and Exchange Act of 1934.

 

(b)                                 There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 3:          Exhibits

 

1.                                       The certifications of the registrant as required by Rule 30a-2(a) under the Act are exhibits to this report.

 

 


 

SIGNATURES

 

 

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 INDONESIA FUND, INC.

 

 

 

/s/Steven Plump

 

 

Name:

Steven Plump

 

Title:

Chief Executive Officer

 

Date:

November 29, 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.

 

 

/s/Steven Plump

 

 

Name:

Steven Plump

 

Title:

Chief Executive Officer

 

Date:

November 29, 2005

 

 

/s/Michael A. Pignataro

 

 

Name:

Michael A. Pignataro

 

Title:

Chief Financial Officer

 

Date:

November 29, 2005