- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
November 26 2008 - 3:51PM
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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811-05082
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THE
MALAYSIA FUND, INC.
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(Exact name of registrant as specified in charter)
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522 FIFTH AVENUE NEW YORK, NY
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10036
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(Address of principal executive offices)
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(Zip code)
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RANDY TAKIAN
522 FIFTH AVENUE NEW YORK, NY, 10036
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(Name and address of agent for service)
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Registrants
telephone number, including area code:
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1-800-231-2608
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Date of
fiscal year end:
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12/31
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Date of
reporting period:
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9/30/08
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Item 1. Schedule of Investments.
The
Funds schedule of investment as of the close of the reporting period prepared
pursuant to Rule 12-12 Regulation S-X is as follows:
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Third Quarter Report
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September 30, 2008
(unaudited)
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Portfolio of Investments
The Malaysia Fund, Inc.
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Value
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Shares
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(000)
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Common
Stocks (94.2%)
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(Unless
Otherwise Noted)
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Automobiles
(2.4%)
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Proton Holdings
Bhd (a)
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1,243,900
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$
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1,054
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TAN Chong Motor
Holdings Bhd
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1,670,700
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806
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1,860
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Commercial
Banks (16.9%)
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Bumiputra-Commerce
Holdings Bhd
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1,908,296
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4,285
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Malayan Banking
Bhd
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2,199,475
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4,380
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Public Bank Bhd
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1,544,790
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4,508
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13,173
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Construction &
Engineering (4.3%)
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IJM Corp. Bhd
(a)
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2,449,600
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3,357
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Construction
Materials (0.7%)
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Lafarge Malayan
Cement Bhd
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548,100
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588
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Diversified
Telecommunication Services (8.4%)
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Telekom Malaysia
Bhd
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3,570,500
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3,408
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TM International
Bhd (a)
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1,899,300
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3,109
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6,517
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Electric
Utilities (5.0%)
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Tenaga Nasional
Bhd
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1,941,650
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3,876
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Food
Products (13.2%)
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IOI Corp. Bhd
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3,642,050
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4,481
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Kuala Lumpur
Kepong Bhd
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1,225,500
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3,440
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Wilmar
International Ltd.
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1,340,300
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2,387
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10,308
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Hotels
Restaurants & Leisure (9.2%)
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Genting Bhd
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2,373,400
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3,654
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Resorts World
Bhd
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4,717,200
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3,508
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7,162
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Independent
Power Producers & Energy Traders (1.5%)
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Tanjong plc
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314,000
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1,196
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Industrial
Conglomerates (8.7%)
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MMC Corp. Bhd
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1,334,000
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858
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Sime Darby Bhd
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3,092,910
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5,964
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6,822
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Insurance
(0.3%)
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MAA Holdings Bhd
(a)
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1,174,000
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208
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Marine
(4.1%)
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Malaysia
International Shipping Corp. Bhd
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1,271,000
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3,195
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Multi-Utilities
(4.6%)
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YTL Corp. Bhd
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1,955,733
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3,571
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Real
Estate (8.9%)
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Bandar Raya
Developments Bhd
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1,050,000
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429
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IGB Corp. Bhd
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3,024,000
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1,224
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IOI Properties
Bhd
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830,000
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1,065
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Naim Cendera
Holdings Bhd
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789,000
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648
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SP Setia Bhd
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3,350,248
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3,041
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YNH Property Bhd
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1,338,200
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547
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6,954
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Retail
(0.4%)
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Parkson Holdings
Bhd
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290,900
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323
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Wireless
Telecommunication Services (5.6%)
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Digi.com Bhd
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670,200
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4,376
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Total
Common Stocks (Cost $60,408)
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73,486
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No. of
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Warrants
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Warrants
(0.2%)
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Construction &
Engineering (0.1%)
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IJM Corp. Bhd,
expires 7/7/10 (a)
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148,600
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43
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Real
Estate (0.1%)
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SP Setia Bhd,
expires 1/21/13 (a)
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558,425
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62
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Real
Estate Management & Development (0.0%)
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IJM Land Bhd,
expires 9/11/13 (a)
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244,960
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16
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Total
Warrants (Cost $53)
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121
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Shares
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Short-Term
Investment (2.9%)
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Investment
Company (2.9%)
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Morgan Stanley
Institutional Liquidity Money Market Portfolio Institutional Class
(Cost $2,281)
(b)
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2,280,821
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2,281
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Total
Investments (97.3%) (Cost $62,742)
+(c)
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75,888
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Other
Assets in Excess of Liabilities (2.7%)
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2,079
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Net
Assets (100%)
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$
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77,967
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(a)
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Non-income producing
security.
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(b)
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The Fund invests in the
Morgan Stanley Institutional Liquidity Money Market Portfolio Institutional
Class (the Liquidity Fund), an open-end management investment company
managed by the Adviser. Investment Advisory fees paid by the Fund are reduced
by an amount equal to its pro-rata share of the advisory and administration
fees paid by the Liquidity Fund. For the period ended September 30, 2008,
advisory fees paid were reduced by approximately $1,000 relating to the
Funds investment in the Liquidity Fund. For the same period, income
distributions earned by the Fund are recorded as dividends from affiliates
and totaled approximately $32,000. For the period ended September 30,
2008, the approximate cost of purchases and sales in the Liquidity Fund were
$7,826,000 and $7,814,000, respectively.
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(c)
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The approximate market
value and percentage of total investments, $73,607,000 and 97.0%,
respectively, represent the securities that have been fair valued under the fair
valuation policy for international investments.
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+
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At September 30, 2008,
the U.S. Federal income tax cost basis of investments was approximately
$62,742,000 and, accordingly, net unrealized appreciation for U.S. Federal income
tax purposes was $13,146,000 of which $21,101,000 related to appreciated
securities and $7,955,000 related to depreciated securities.
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Notes to Portfolio
of Investments (unaudited)
The Fund adopted Financial
Accounting Standards Board Statement of Financial Accounting Standards No. 157,
Fair Value Measurements (SFAS 157), effective January 1, 2008. In
accordance with SFAS 157, fair value is defined as the price that the Fund
would receive to sell an investment or pay to transfer a liability in a timely
transaction with an independent buyer in the principal market, or in the
absence of a principal market the most advantageous market for the investment
or liability. SFAS 157 establishes a three-tier hierarchy to distinguish
between (1) inputs that reflect the assumptions market participants would
use in pricing an asset or liability developed based on market data obtained
from sources independent of the reporting entity (observable inputs) and (2) inputs
that reflect the reporting entitys own assumptions about the assumptions
market participants would use in pricing an asset or liability developed based
on the best information available in the circumstances (unobservable inputs)
and to establish classification of fair value measurements for disclosure
purposes. Various inputs are used in determining the value of the Funds
investments. The inputs are summarized in the three broad levels listed below.
Level 1
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quoted prices in active
markets for identical investments
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Level 2
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other significant
observable inputs (including quoted prices for similar investments, interest
rates, prepayment speeds, credit risk, etc.)
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Level 3
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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 September 30, 2008 in valuing the Funds investments
carried at value:
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Investments in
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Other Financial
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Securities
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Instruments*
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Valuation Inputs
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(000)
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(000)
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Level 1 - Quoted
Prices
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$
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2,604
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$
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Level 2 - Other
Significant Observable Inputs
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73,284
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Level 3 -
Significant Unobservable Inputs
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Total
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$
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75,888
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$
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*Other financial instruments
include futures, forwards and swap contracts.
At September 30, 2008
there were no Level 3 Portfolio investments for which significant unobservable
inputs were used to determine fair value.
Security
Valuation
Securities
listed on a foreign exchange are valued at their closing price. Unlisted
securities and listed securities not traded on the valuation date for which
market quotations are readily available are valued at the mean between the
current bid and asked prices obtained from reputable brokers. Equity securities
listed on a U.S. exchange are valued at the latest quoted sales price on the
valuation date. Equity securities listed or traded on NASDAQ, for which market
quotations are available, are valued at the NASDAQ Official Closing Price. Debt
securities purchased with remaining maturities of 60 days or less are valued at
amortized cost, if it approximates market value.
All other securities and
investments for which market values are not readily available, including
restricted securities, and those securities for which it is inappropriate to
determine prices in accordance with the aforementioned procedures, are valued
at fair value as determined in good faith under procedures adopted by the Board
of Directors (the Directors), although the actual calculations may be done by
others. Factors considered in making this determination may include, but are
not limited to, information obtained by contacting the issuer, analysts, or the
appropriate stock exchange (for exchange-traded securities), analysis of the
issuers financial statements or other available documents and, if necessary,
available information concerning other securities in similar circumstances.
Most foreign markets close
before the New York Stock Exchange (NYSE). Occasionally, developments that
could affect the closing prices of securities and other assets may occur
between the times at which valuations of such securities are determined (that
is, close of the foreign market on which the securities trade) and the close of
business on the NYSE. If these developments are expected to materially affect
the value of the securities, the valuations may be adjusted to reflect the
estimated fair value as of the close of the NYSE, as determined in good faith
under procedures established by the Directors.
Item 2. Controls and Procedures.
(a) The
Funds principal executive officer and principal financial officer have
concluded that the Funds disclosure controls and procedures are sufficient to
ensure that information required to be disclosed by the Fund in this Form N-Q
was recorded, processed, summarized and reported within the time periods
specified in the Securities and Exchange Commissions rules and forms,
based upon such officers evaluation of these controls and procedures as of a
date within 90 days of the filing date of the report.
(b) There
were no changes in the Funds internal control over financial reporting that
occurred during the registrants fiscal quarter that has materially affected,
or is reasonably likely to materially affect, the Funds internal control over
financial reporting.
Item 3. Exhibits.
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.
(Registrant)
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The Malaysia Fund, Inc.
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By:
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/s/ Randy Takian
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Name:
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Randy Takian
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Title:
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Principal Executive Officer
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Date:
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November 18, 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
by the following persons on behalf of the registrant and in the capacities and
on the dates indicated.
By:
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/s/ Randy Takian
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Name:
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Randy Takian
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Title:
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Principal Executive Officer
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Date:
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November 18, 2008
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By:
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/s/ James Garrett
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Name:
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James Garrett
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Title:
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Principal Financial Officer
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Date:
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November 18, 2008
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