Indonesia Fund Inc - Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
May 19 2008 - 5:10PM
Edgar (US Regulatory)
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
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811-06024
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THE
INDONESIA FUND, INC.
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(Exact name of registrant as specified in charter)
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c/o Credit Suisse Asset Management, LLC
Eleven Madison Avenue
New York, New York
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10010
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(Address of principal executive offices)
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(Zip code)
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J. Kevin Gao, Esq.
Eleven Madison Avenue
New York, New York 10010
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(Name and address of agent for service)
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Registrant's
telephone number, including area code:
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(212)
325-2000
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Date of
fiscal year end:
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December
31st
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Date of
reporting period:
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January 1,
2008 to March 31, 2008
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Item 1: Schedule
of Investments
The
Indonesia Fund, Inc.
Schedule of
Investments
March 31,
2008 (unaudited)
Description
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No. of
Shares
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Value
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EQUITY OR EQUITY-LINKED SECURITIES-100.35%
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Indonesia-96.76%
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Automobiles-8.87%
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PT Astra International Tbk
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3,312,461
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$
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8,794,145
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Commercial Banks-21.55%
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PT Bank Central Asia Tbk
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21,902,000
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7,787,024
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PT Bank Danamon Indonesia Tbk
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3,389,000
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2,559,921
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PT Bank Mandiri
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13,968,500
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4,821,308
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PT Bank Rakyat Indonesia
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8,975,000
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6,195,593
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21,363,846
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Commercial Services &
Supplies-2.42%
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Indofood Agri Resources Ltd.
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1,396,000
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2,398,002
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Construction & Engineering-2.38%
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PT Adhi Karya Tbk
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10,538,000
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900,250
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PT Truba Alam Manunggal Engineering Tbk
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15,763,773
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1,460,554
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2,360,804
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Construction Materials-3.52%
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PT Holcim Indonesia Tbk
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4,369,000
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573,962
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PT Indocement Tunggal Prakarsa Tbk
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2,734,000
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2,106,956
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PT Semen Gresik (Persero) Tbk
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1,469,500
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805,133
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3,486,051
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Diversified Telecommunication
Services-17.32%
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PT Telekomunikasi Indonesia
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16,275,560
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17,168,611
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Food Products-4.76%
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PT Astra Agro Lestari Tbk
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346,000
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980,073
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PT Bakrie Sumatera Plantations Tbk
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5,196,750
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1,015,757
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PT Bakrie Sumatera Plantations Tbk,
Warrants, strike price 1,375 IDR, expiring 09/10/10
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499,687
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41,256
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PT Indofood Sukses Makmur Tbk
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10,514,000
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2,679,495
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4,716,581
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Gas Utilities-5.22%
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PT Perusahaan Gas Negara
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3,345,500
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5,178,915
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Household Products-1.99%
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PT Unilever Indonesia Tbk
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2,618,000
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1,973,888
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Industrial Conglomerates-0.46%
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PT Bakrie and Brothers Tbk
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7,371,250
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411,723
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PT Bakrie and Brothers Tbk, Rights, strike price
620 IDR, expiring 04/23/08
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43,858,937
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47,647
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459,370
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Machinery-6.13%
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PT United Tractors Tbk
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4,429,700
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6,077,700
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Metals & Mining-3.38%
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Indo Tambangraya Megah PT
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720,500
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1,604,590
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PT Aneka Tambang Tbk
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2,761,500
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1,005,000
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PT International Nickel Indonesia Tbk
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965,000
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738,956
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3,348,546
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Multiline Retail-1.98%
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PT Matahari Putra Prima Tbk
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16,469,500
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1,063,917
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PT Matahari Putra Prima Tbk, Warrants, strike
price 900 IDR, expiring 07/12/10
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3,254,125
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13,434
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PT Mitra Adiperkasa Tbk
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3,521,000
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207,530
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PT Ramayana Lestari Sentosa Tbk
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7,612,000
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673,814
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1,958,695
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Oil, Gas & Consumable Fuels-10.87%
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PT Bumi Resources Tbk
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15,835,000
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10,775,391
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Real Estate Management &
Development-5.91%
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PT Bakrieland Development Tbk
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37,776,500
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2,157,602
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PT Bakrieland Development Tbk, Warrants, strike
price 250 IDR, expiring 04/30/10
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4,705,750
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153,365
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PT Ciputra Development Tbk
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8,284,000
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500,926
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PT Kawasan Industri Jababeka Tbk
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56,601,000
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844,683
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PT Summarecon Agung Tbk
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17,969,033
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1,315,381
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PT Summarecon Agung Tbk, Warrants, strike price
550 IDR, expiring 06/21/10
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1,361,966
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17,755
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Sentul City Tbk PT
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13,967,500
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870,439
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5,860,151
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Total
Indonesia
(Cost $42,145,692)
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95,920,696
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China-1.10%
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Oil, Gas & Consumable Fuels-1.10%
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Yanzhou Coal
Mining Co. Ltd.
(Cost $1,416,933)
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774,000
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1,090,540
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Singapore-1.96%
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Oil, Gas & Consumable Fuels-1.96%
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Straits Asia
Resources Ltd
(Cost $1,980,701)
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814,000
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1,939,511
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Thailand-0.53%
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Construction & Engineering-0.53%
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Italian-Thai
Development Public Company Ltd.
(Cost $452,309)
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2,269,900
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529,718
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Total
Investments-100.35%
(Cost $45,995,635)
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99,480,465
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Liabilities in Excess of Cash and Other
Assets-(0.35)%
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(348,866
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)
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NET ASSETS-100.00%
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$
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99,131,599
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Non-income producing
security.
IDR Indonesian Rupiah
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. 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 funds 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 Funds 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
Funds estimate of fair value assumes a willing buyer and a willing seller
neither acting under the compulsion to buy or sell.
The Fund adopted Financial
Accounting Standards Board Statement of Financial Accounting Standards No. 157,
Fair Value Measurements (FAS 157), effective January 1, 2008. In
accordance with FAS 157, fair value is defined as the price that the Fund would
receive upon selling an investment in a timely transaction to an independent
buyer in the principal or most advantageous market of the investment. FAS 157
established a three-tier hierarchy to maximize the use of observable market
data and minimize the use of unobservable inputs and to establish
classification of fair value measurements for disclosure purposes. Inputs refer broadly to the
assumptions that market participants would use in pricing the asset or
liability, including assumptions about risk, for example, the risk inherent in
a particular valuation technique used to measure fair value including such a
pricing model and/or the risk inherent in the inputs to the valuation
technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market
participants would use in pricing the asset or liability developed based on
market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that
reflect the reporting entitys own assumptions about the assumptions market
participants would use in pricing the asset or liability developed based on the
best information available in the circumstances. The three-tier hierarchy of
inputs is summarized in the three broad Levels listed below.
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Level 1 quoted prices in
active markets for identical investments
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Level 2 other
significant observable inputs (including quoted prices for similar
investments, interest rates, prepayment speeds, credit risk, etc.)
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Level 3 significant
unobservable inputs (including the Funds own assumptions in determining the
fair value of investments)
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The inputs or methodology
used for valuing securities are not necessarily an indication of the risk
associated with investing in those securities.
The following is a summary
of the inputs used as of March 31, 2008 in valuing the Funds investments
carried at value:
Valuation Inputs
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Investments in
Securities
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Other Financial
Instruments*
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Level 1 - Quoted Prices
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$
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2,883,047
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$
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Level 2 - Other Significant Observable
Inputs
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96,597,418
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Level 3 Significant Unobservable Inputs
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Total
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$
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99,480,465
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$
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*Other financial instruments
include futures, forwards and swap contracts.
Federal Income Tax Cost At
March 31, 2008, 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 $45,995,635, $56,319,668,
$(2,834,838) and $53,484,830, respectively.
Other information regarding
the Fund is available in the Funds most recent Report to Shareholders. This
information is also available on the Funds website at www.credit-suisse.com/us
as well as on the website of the Securities and Exchange Commission at
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 registrants 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
registrants internal control over financial reporting (as defined in Rule 30a-3(d) under
the Act) that occurred during the registrants last fiscal quarter that have
materially affected, or are reasonably likely to materially affect, the
registrants 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/Lawrence D. Haber
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Name:
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Lawrence D. Haber
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Title:
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Chief Executive Officer
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Date:
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May 19, 2008
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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/Lawrence D. Haber
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Name:
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Lawrence D. Haber
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Title:
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Chief Executive Officer
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Date:
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May 19, 2008
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/s/Michael A. Pignataro
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Name:
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Michael A. Pignataro
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Title:
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Chief Financial Officer
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Date:
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May 19, 2008
|
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