-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, B6yDrURGFzTxAp+cHdzw4nFLZG6j2o1WOE98CJRqFNqfiCrQjqFrMub13vE9yQou AMg49bq0HSJNPyKQzPOMjg== 0000950135-05-000368.txt : 20050131 0000950135-05-000368.hdr.sgml : 20050131 20050131143850 ACCESSION NUMBER: 0000950135-05-000368 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041130 FILED AS OF DATE: 20050131 DATE AS OF CHANGE: 20050131 EFFECTIVENESS DATE: 20050131 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TAIWAN FUND INC CENTRAL INDEX KEY: 0000804123 IRS NUMBER: 042942862 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-04893 FILM NUMBER: 05561360 BUSINESS ADDRESS: STREET 1: 225 FRANKLIN STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6176622789 MAIL ADDRESS: STREET 1: 225 FRANKLIN STREET STREET 2: PO BOX 9110 CITY: BOSTON STATE: MA ZIP: 02110 N-Q 1 b52844nqnvq.txt THE TAIWAN FUND, INC. 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: 811-4893 ---------------------------------------------- THE TAIWAN FUND, INC. ------------------------------------------------------------------------------ (Exact name of registrant as specified in charter) 225 FRANKLIN STREET BOSTON, MA 02110 ------------------------------------------------------------------------------ (Address of principal executive offices)(Zip code) (Name and Address of Agent for Service) Copy to: The Taiwan Fund, Inc. Leonard B. Mackey, Jr., Esq. c/o State Street Bank and Trust Company Clifford Chance U.S. LLP Attention: Ann M. Carpenter 31 West 52nd Street 225 Franklin Street New York, New York 10019 Boston, MA 02110 Registrant's telephone number, including area code: (800) 636-9242 Date of fiscal year end: August 31, 2004 Date of reporting period: November 30, 2004 ITEM 1: SCHEDULE OF INVESTMENTS THE TAIWAN FUND, INC. INVESTMENTS/NOVEMBER 30, 2004 (SHOWING PERCENTAGE OF TOTAL VALUE OF INVESTMENT IN SECURITIES) (UNAUDITED) - --------------------------------------------------------------------------------
US $ SHARES VALUE COMMON STOCKS - 95.2% BASIC INDUSTRIES - 17.6% CHEMICALS - 0.8% Oriental Union Chemical Corp. ............ 1,600,000 $ 1,683,165 ------------ IRON & STEEL - 5.4% China Steel Corp. ........................ 10,862,000 11,965,896 ------------ PETROLEUM SERVICES - 2.3% Formosa Petrochemical Corp. .............. 2,774,000 4,949,729 ------------ PLASTICS - 9.1% Formosa Chemicals & Fibre Corp. .. ....... 4,200,000 7,820,016 Formosa Plastic Corp. .................... 4,218,000 6,740,946 ------------ Nan Ya Plastics Corp. .................... 3,776,000 5,425,254 19,986,216 ------------ TOTAL BASIC INDUSTRIES ................... 38,585,006 ------------ DURABLES - 2.0% AUTOMOBILES, TIRES & ACCESSORIES - 2.0% Cheng Shin Rubber Industry Co. Ltd. ..................................... 3,600,000 4,468,580 ------------ FINANCE - 18.8% BANKS - 2.0% International Bank of Taipei ............. 6,400,000 4,468,580 ------------ FINANCIAL SERVICES - 16.8% Cathay Financial Holding Co. Ltd. ..................................... 5,000,000 9,619,860 Chinatrust Financial Holding Co. Ltd. ..................................... 8,476,812 9,680,270 E. Sun Financial Holding Co. Ltd. ..................................... 8,000,000 5,908,456 Mega Financial Holding Co. ............... 15,000,000 9,775,019 Taishin Financial Holdings Co. Ltd. ..................................... 2,000,000 1,812,258 ------------ 36,795,863 ------------ TOTAL FINANCE ............................ 41,264,443 ------------ RETAIL & WHOLESALE - 3.7% GENERAL MERCHANDISE STORES - 3.7% President Chain Store Corp. .............. 5,384,800 8,020,804 ------------ TECHNOLOGY - 51.6% ELECTRONICS - 10.5% Asia Vital Components Co. Ltd. ........... 1,510,000 1,185,508 Au Optronics Corp. ....................... 4,605,000 6,044,732 Career Technology (MFG.) Co. Ltd. ..................................... 3,000,000 3,900,698 Merry Electronics Co. Ltd. ............... 1,400,000 3,171,451 Tripod Technology Corp. .................. 2,800,000 3,788,363 Unimicron Technology Corp. ............... 3,604,000 2,259,140 Wus Printed Circuit Co. Ltd. ............. 6,121,000 2,649,743 ------------ 22,999,635 ------------ PC & PERIPHERALS - 13.4% Asustek Computer, Inc. ................... 5,780,000 13,362,607 Benq Corp. ............................... 2,000,000 2,079,131 Hon Hai Precision Industry Co. Ltd. ..................................... 2,596,247 10,473,611 Quanta Computer, Inc. .................... 2,200,000 3,584,174 ------------ 29,499,523 ------------ SEMI-CONDUCTOR - 14.0% Advanced Semiconductor Engineering, Inc. (a) .................... 3,316,907 2,460,018 Novatek Microelectronics Corp. Ltd. ..................................... 1,800,000 5,306,439 Sunplus Technology Co. Ltd. .............. 3,850,000 5,376,261 Taiwan Semiconductor Manufacturing Co. ........................ 7,200,000 10,568,192 United Microelectronics Corp. Ltd. (a) ................................. 11,238,000 7,044,456 ------------ 30,755,366 ------------ TELECOMMUNICATIONS - 13.7% Chunghwa Telecom Co. Ltd. ................ 9,500,000 18,867,339 Taiwan Cellular Corp. .................... 4,000,000 4,282,389 Zyxel Communications Corp. ............... 3,000,000 6,842,514 ------------ 29,992,242 ------------ TOTAL TECHNOLOGY ......................... 113,246,766 ------------ TRANSPORTATION - 1.5% TRANSPORTATION - 1.5% Yang Ming Marine Transport ............... 3,720,000 3,347,711 ------------ TOTAL COMMON STOCKS (Identified Cost -- $161,965,584)......... 208,933,310 ------------ PRINCIPAL AMOUNT NT$ --------- CERTIFICATES OF DEPOSIT - 2.1% China Airlines 1.05%, 3/18/05 (b) ...................................... 9,961,063 309,110 Far Eastern International Bank 1.10%, 12/08/04 (b) ...................... 30,033,175 931,984 Siliconware Precision Industry 1.05%, 1/18/05 (b) ....................... 49,894,190 1,548,307 Taishin International Bank 1.10%, 12/30/04 (b) ...................... 50,173,294 1,556,968 Walton Advanced Engineering In 1.05%, 1/18/05 (b) ....................... 7,983,691 247,748 ------------ TOTAL CERTIFICATES OF DEPOSIT (Identified Cost -- $4,460,976) .......... 4,594,117 ------------ COMMERCIAL PAPER - 2.5% Ial Ban Co. 1.00%, 4/04/05 (b) ........... 79,593,349 2,469,925 Shinkong Synthetic Fibers Corp. 1.00%, 12/31/04 (b) ...................... 99,764,271 3,095,866 ------------ TOTAL COMMERCIAL PAPER (Identified Cost -- $5,302,017) .......... 5,565,791 ------------
See Notes to Schedule of Investments Page 1 INVESTMENTS/NOVEMBER 30, 2004 (CONTINUED) - --------------------------------------------------------------------------------
MATURITY AMOUNT US $ US$ VALUE REPURCHASE AGREEMENT - 0.2% State Street Bank & Trust Co. at 0.4% dated 11/29/04, due 12/06/04 (collateralized by U.S. Treasury Note 0%, 5/12/05, market value $376,200) ................... $ 367,029 $ 367,000 ------------ TOTAL INVESTMENTS -- 100% (COST -- $172,095,577) ................... $219,460,218 ============
LEGEND: US$ - United States dollar NT$ - New Taiwan Dollar (a) Non-income producing (b) Certificates of Deposit and Commercial Paper that are traded through Bills Finance Corporations must be guaranteed by either a bank, a trust company or a Bills Finance Corporation. Since there is no recognized credit rating system in the Republic of China, the guarantee may not be comparable to a guarantee issued by a U.S. institution. INCOME TAX INFORMATION: At November 30, 2004, the aggregate cost basis of the Fund's investment securities for income tax purposes was $172,095,577. Net unrealized appreciation of the Fund's investment securities was $47,364,641 of which $52,490,332 related to appreciated investment securities and $5,125,691 related to depreciated investment securities for the fiscal year ended November 30, 2004. See Notes to Schedule of Investments Page 2 ITEM 2. CONTROLS AND PROCEDURES (a) The registrant's principal executive and principal financial officers have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this Form N-Q that includes the disclosure required by this paragraph based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)). (b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) 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 The certification required by Rule 30a-2(a) of the Investment Company Act of 1940 (17 CFR 270.30a-2(a)), as amended, is attached as an exhibit to this filing. 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 TAIWAN FUND, INC. By: /s/ Benny T. Hu --------------- Benny T. Hu President of The Taiwan Fund, Inc. Date: January 31, 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. By: /s/ Adelina Louie ----------------- Adelina Louie Treasurer of The Taiwan Fund, Inc. Date: January 31, 2005 By: /s/ Benny T. Hu --------------- Benny T. Hu President of The Taiwan Fund, Inc. Date: January 31, 2005 EX-99.CERT 2 b52844nqexv99wcert.txt CERTIFICATIONS CERTIFICATIONS I, Benny T. Hu, certify that: 1. I have reviewed this report on Form N-Q of The Taiwan Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedule of investments included in this report fairly presents in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and (c) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: January 31, 2005 /s/ Benny T. Hu - --------------- Benny T. Hu President of The Taiwan Fund, Inc. I, Adelina Louie, certify that: 1. I have reviewed this report on Form N-Q of The Taiwan Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedule of investments included in this report fairly presents in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and (c) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: January 31, 2005 /s/ Adelina Louie - ----------------- Adelina Louie Treasurer of The Taiwan Fund, Inc. -----END PRIVACY-ENHANCED MESSAGE-----