N-Q 1 a06-6708_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

811-6024

 

 

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:

January 1, 2006 to March 31, 2006

 

 


 

Item 1:   Schedule of Investments

 


 

The Indonesia Fund, Inc.

Schedule of Investments - March 31, 2006 (unaudited)

 

Description

 

 

 

No. of
Shares

 

Value

 

EQUITY-97.95%

 

 

 

 

 

 

 

Indonesia-92.27%

 

 

 

 

 

 

 

Automotive-7.33%

 

 

 

 

 

 

 

PT Astra International Tbk

 

 

 

3,681,461

 

$

4,554,114

 

 

 

 

 

 

 

 

 

Banks-21.30%

 

 

 

 

 

 

 

PT Bank Central Asia Tbk

 

 

 

10,112,500

 

4,647,850

 

PT Bank Danamon Indonesia Tbk

 

 

 

2,113,000

 

1,118,094

 

PT Bank Internasional Indonesia Tbk

 

 

 

31,119,000

 

549,637

 

PT Bank Mandiri

 

 

 

14,641,000

 

2,722,620

 

PT Bank Pan Indonesia Tbk

 

 

 

6,601,000

 

364,290

 

PT Bank Rakyat Indonesia

 

 

 

8,975,000

 

3,830,907

 

 

 

 

 

 

 

13,233,398

 

Building & Construction - Miscellaneous-0.51%

 

 

 

 

 

 

 

PT Adhi Karya Tbk†

 

 

 

3,438,000

 

318,451

 

 

 

 

 

 

 

 

 

Building Products-2.08%

 

 

 

 

 

 

 

PT Indocement Tunggal Prakarsa Tbk†

 

 

 

2,603,000

 

1,292,299

 

 

 

 

 

 

 

 

 

Coal Mining & Steel-4.42%

 

 

 

 

 

 

 

PT Bumi Resources Tbk

 

 

 

27,487,000

 

2,745,976

 

 

 

 

 

 

 

 

 

Food & Kindred Products-0.46%

 

 

 

 

 

 

 

PT Indofood Sukses Makmur Tbk

 

 

 

2,911,000

 

283,845

 

 

 

 

 

 

 

 

 

Gas - Distribution-8.24%

 

 

 

 

 

 

 

PT Perusahaan Gas Negara

 

 

 

4,646,500

 

5,119,633

 

 

 

 

 

 

 

 

 

Machinery-Construction & Mining-4.02%

 

 

 

 

 

 

 

PT United Tractors Tbk

 

 

 

5,044,200

 

2,494,570

 

 

 

 

 

 

 

 

 

Medical-Drugs-2.68%

 

 

 

 

 

 

 

PT Kalbe Farma Tbk

 

 

 

9,690,800

 

1,452,350

 

PT Tempo Scan Pacific Tbk

 

 

 

291,500

 

215,093

 

 

 

 

 

 

 

1,667,443

 

Oil Exploration & Production-6.44%

 

 

 

 

 

 

 

PT Energi Mega Persada Tbk†

 

 

 

17,624,275

 

1,715,915

 

PT Medco Energi Internasional Tbk

 

 

 

5,008,000

 

2,284,230

 

 

 

 

 

 

 

4,000,145

 

Real Estate Operations/Development-2.14%

 

 

 

 

 

 

 

PT Summarecon Agung Tbk

 

 

 

11,674,000

 

1,331,394

 

 

 

 

 

 

 

 

 

Retail-Computer Equipment-0.31%

 

 

 

 

 

 

 

PT Multipolar Corporation Tbk†

 

 

 

11,493,500

 

189,724

 

 

 

 

 

 

 

 

 

Retail-Major Department Stores-3.70%

 

 

 

 

 

 

 

PT Matahari Putra Prima Tbk

 

 

 

11,668,000

 

1,323,423

 

PT Mitra Adiperkasa Tbk

 

 

 

4,821,000

 

595,862

 

PT Ramayana Lestari Sentosa Tbk

 

 

 

4,306,000

 

377,356

 

 

 

 

 

 

 

2,296,641

 

Rubber-Tires-1.34%

 

 

 

 

 

 

 

PT Gajah Tunggal Tbk†

 

 

 

11,659,000

 

832,684

 

 

1


 

Soap & Cleaning Preparation-1.26%

 

 

 

 

 

 

 

PT Unilever Indonesia Tbk

 

 

 

1,678,000

 

785,075

 

 

 

 

 

 

 

 

 

Telecommunications-24.82%

 

 

 

 

 

 

 

PT Indosat Tbk

 

 

 

3,197,000

 

1,806,262

 

PT Telekomunikasi Indonesia

 

 

 

17,938,560

 

13,616,696

 

 

 

 

 

 

 

15,422,958

 

Tobacco-1.22%

 

 

 

 

 

 

 

PT Gudang Garam Tbk

 

 

 

654,500

 

755,890

 

 

 

 

 

 

 

 

 

Total Indonesia

 

 

 

 

 

 

 

(Cost $31,360,621)

 

 

 

 

 

57,324,240

 

 

 

 

 

 

 

 

 

Hong Kong-0.85%

 

 

 

 

 

 

 

Apparel Manufacturers-0.85%

 

 

 

 

 

 

 

Ports Design Ltd.

 

 

 

362,000

 

531,087

 

(Cost $123,796)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Singapore-2.22%

 

 

 

 

 

 

 

Engineering/R&D Services-2.22%

 

 

 

 

 

 

 

SembCorp Industries Ltd.

 

 

 

638,520

 

1,379,557

 

(Cost $840,797)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thailand-2.61%

 

 

 

 

 

 

 

Banks-1.01%

 

 

 

 

 

 

 

Krung Thai Bank Public Company Ltd.

 

 

 

2,320,000

 

626,302

 

 

 

 

 

 

 

 

 

Building - Heavy Construction-0.94%

 

 

 

 

 

 

 

Italian-Thai Development Public Company Ltd.

 

 

 

1,810,000

 

323,422

 

Sino Thai Engineering & Construction Public Company Ltd.

 

 

 

1,055,000

 

257,681

 

 

 

 

 

 

 

581,103

 

Building-Residential/Commercial-0.66%

 

 

 

 

 

 

 

Land and Houses Public Company Ltd.

 

 

 

1,973,000

 

412,116

 

 

 

 

 

 

 

 

 

Total Thailand

 

 

 

 

 

 

 

(Cost $1,896,875)

 

 

 

 

 

1,619,521

 

 

 

 

 

 

 

 

 

TOTAL EQUITY

 

 

 

 

 

 

 

(Cost $34,222,089)

 

 

 

 

 

60,854,405

 

 

SHORT-TERM INVESTMENTS-2.41%

 

 

 

 

 

 

 

 

 

 

 

Principal Amount
(000’s)

 

 

 

Grand Cayman-2.41%

 

 

 

 

 

 

 

Bank of America, overnight deposit, 3.90%, 04/03/06

 

 

 

 

 

 

 

(Cost $1,497,927)¥

 

 

 

$

1,497

 

1,497,927

 

 

 

 

 

 

 

 

 

Total Investments-100.36%

 

 

 

 

 

 

 

(Cost $35,720,016)

 

 

 

 

 

62,352,332

 

 

 

 

 

 

 

 

 

Liabilities in Excess of Cash and Other Assets-(0.36)%

 

 

 

 

 

(225,574

)

 

 

 

 

 

 

 

 

NET ASSETS-100.00%

 

 

 

 

 

$

62,126,758

 

 

†                       Security is non-income producing.

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

 

2


 

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. Investments in mutual funds are valued at the mutual fund’s closing net asset value per share on the day of valuation.  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. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same 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 March 31, 2006, 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 $36,410,773, $26,424,291, $(482,732) and $25,941,559, 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.credit-suisse.com/us as well as on the website of the Securities and Exchange Commission - http://www.sec.gov.

 

3


 

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:

May 26, 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.

 

 

/s/Steven Plump

 

 

Name:

Steven Plump

 

Title:

Chief Executive Officer

 

Date:

May 26, 2006

 

 

/s/Michael A. Pignataro

 

 

Name:

Michael A. Pignataro

 

Title:

Chief Financial Officer

 

Date:

May 26, 2006