-----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, P3rLs8JR0Us+tHKJ/UG9oBg8UHx1bPHXLBjDyjZ24ZRrv57VbFsQTm8N5HJMAj5i m0CHbTijVwAydROMmCn3qA== 0001104659-08-036274.txt : 20080528 0001104659-08-036274.hdr.sgml : 20080528 20080528170551 ACCESSION NUMBER: 0001104659-08-036274 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080331 FILED AS OF DATE: 20080528 DATE AS OF CHANGE: 20080528 EFFECTIVENESS DATE: 20080528 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MORGAN STANLEY ASIA PACIFIC FUND INC CENTRAL INDEX KEY: 0000919808 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-08388 FILM NUMBER: 08864184 BUSINESS ADDRESS: STREET 1: 1221 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 6175578742 MAIL ADDRESS: STREET 1: MORGAN STANLEY ASIA PACIFIC FUND STREET 2: 1221 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10020 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN STANLEY DEAN WITTER ASIA PACIFIC FUND INC DATE OF NAME CHANGE: 20000504 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN STANLEY ASIA PACIFIC FUND INC DATE OF NAME CHANGE: 19940505 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN STANLEY ASIA INVESTMENT FUND INC DATE OF NAME CHANGE: 19940316 N-Q 1 a08-15280_10nq.htm N-Q

[Annotated Form N-Q]

 

 

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

811-08388

 

MORGAN STANLEY ASIA-PACIFIC FUND, INC.

(Exact name of registrant as specified in charter)

522 FIFTH AVENUE, NEW YORK, NY

10036

(Address of principal executive offices)

(Zip code)

RONALD E. ROBISON
522 FIFTH AVENUE, NEW YORK, NY 10036

(Name and address of agent for service)

 

 

 

Registrant’s telephone number, including area code:

1-800-231-2608

 

 

Date of fiscal year end:

12/31

 

 

Date of reporting period:

3/31/08

 

 



 

Item 1.  Schedule of Investments.

 

The Fund’s schedule of investment as of the close of the reporting period prepared pursuant to Rule 12-12 Regulation S-X is as follows:

 



 

Morgan Stanley Asia-Pacific Fund, Inc.

Portfolio of Investments

First Quarter Report

March 31, 2008 (unaudited)

 

 

 

Shares

 

Value
(000)

 

COMMON STOCKS (93.7%)

 

 

 

 

 

(Unless Otherwise Noted)

 

 

 

 

 

Australia (11.9%)

 

 

 

 

 

Air Freight & Logistics

 

 

 

 

 

Toll Holdings Ltd.

 

288,500

 

$

2,642

 

Airlines

 

 

 

 

 

Qantas Airways Ltd.

 

1,151,203

 

4,146

 

Chemicals

 

 

 

 

 

Incitec Pivot Ltd.

 

90,962

 

11,709

 

Orica Ltd.

 

291,764

 

7,790

 

 

 

 

 

19,499

 

Construction & Engineering

 

 

 

 

 

Leighton Holdings Ltd.

 

65,550

 

2,576

 

Diversified Telecommunication Services

 

 

 

 

 

Telstra Corp. Ltd.

 

931,328

 

3,753

 

Food & Staples

 

 

 

 

 

Woolworths Ltd.

 

457,375

 

12,153

 

Health Care Equipment & Supplies

 

 

 

 

 

Cochlear Ltd.

 

26,500

 

1,332

 

Insurance

 

 

 

 

 

QBE Insurance Group Ltd.

 

273,999

 

5,577

 

Metals & Mining

 

 

 

 

 

Alumina Ltd.

 

835,771

 

4,293

 

BHP Billiton Ltd.

 

463,554

 

15,230

 

Newcrest Mining Ltd.

 

126,416

 

3,864

 

OneSteel Ltd.

 

198,309

 

1,161

 

Rio Tinto Ltd.

 

34,709

 

3,882

 

Straits Resources Ltd.

 

370,250

 

2,081

 

 

 

 

 

30,511

 

Textiles, Apparel & Luxury Goods

 

 

 

 

 

Billabong International Ltd.

 

128,231

 

1,532

 

Trading Companies & Distributors

 

 

 

 

 

Alesco Corp. Ltd.

 

142,740

 

1,283

 

 

 

 

 

85,004

 

China (12.4%)

 

 

 

 

 

Automobiles

 

 

 

 

 

Dongfeng Motor Group Co., Ltd., ‘H’

 

5,629,000

 

2,528

 

Commercial Banks

 

 

 

 

 

China Construction Bank Corp., ‘H’

 

18,499,000

 

13,940

 

Industrial & Commercial Bank of China, ‘H’

 

9,839,000

 

6,843

 

 

 

 

 

20,783

 

Electrical Equipment

 

 

 

 

 

Harbin Power Equipment, ‘H’

 

414,000

 

746

 

Independent Power Producers & Energy Traders

 

 

 

 

 

China Resources Power Holdings Co.

 

1,220,000

 

2,419

 

Datang International Power Generation Co., Ltd., ‘H’

 

2,020,000

 

1,071

 

Huaneng Power International, Inc., ‘H’

 

3,380,000

 

2,577

 

 

 

 

 

6,067

 

Industrial Conglomerates

 

 

 

 

 

Shanghai Industrial Holdings Ltd.

 

710,000

 

2,697

 

Insurance

 

 

 

 

 

China Life Insurance Co., Ltd.

 

177,000

 

613

 

Ping An Insurance Group Co. of China Ltd., ‘H’

 

1,207,000

 

8,540

 

 

 

 

 

9,153

 

Marine

 

 

 

 

 

China COSCO Holdings Co., Ltd. ‘H’

 

4,044,550

 

9,794

 

Metals & Mining

 

 

 

 

 

Maanshan Iron & Steel, ‘H’

 

4,967,000

 

2,601

 

Oil, Gas & Consumable Fuels

 

 

 

 

 

China Coal Energy Co.

 

2,845,000

 

5,012

 

China Petroleum & Chemical Corp., ‘H’

 

3,870,000

 

3,332

 

 

 

 

 

8,344

 

Real Estate

 

 

 

 

 

China Overseas Land & Investment Ltd.

 

1,088,000

 

2,026

 

Specialty Retail

 

 

 

 

 

Belle International Holdings Ltd.

 

160,000

 

167

 

GOME Electrical Appliances Holdings Ltd.

 

2,862,000

 

6,571

 

 

 

 

 

6,738

 

 



 

Transportation Infrastructure

 

 

 

 

 

COSCO Pacific Ltd.

 

340,000

 

662

 

Wireless Telecommunication Services

 

 

 

 

 

China Mobile Hong Kong Ltd.

 

1,096,000

 

16,395

 

 

 

 

 

88,534

 

Hong Kong (3.5%)

 

 

 

 

 

Airlines

 

 

 

 

 

Cathay Pacific Airways Ltd.

 

861,000

 

1,692

 

Commercial Banks

 

 

 

 

 

Bank of East Asia Ltd.

 

360,600

 

1,802

 

Diversified Financial Services

 

 

 

 

 

Hong Kong Exchanges & Clearing Ltd.

 

38,000

 

659

 

Industrial Conglomerates

 

 

 

 

 

Hutchison Whampoa Ltd.

 

107,000

 

1,020

 

Real Estate

 

 

 

 

 

Cheung Kong Holdings Ltd.

 

176,000

 

2,532

 

HongKong Land Holdings Ltd.

 

385,000

 

1,597

 

New World Development Ltd.

 

1,543,800

 

3,735

 

Wharf Holdings Ltd.

 

925,187

 

4,398

 

 

 

 

 

12,262

 

Specialty Retail

 

 

 

 

 

Esprit Holdings Ltd.

 

479,000

 

5,740

 

Transportation Infrastructure

 

 

 

 

 

Hopewell Holdings

 

505,000

 

1,929

 

 

 

 

 

25,104

 

India (2.0%)

 

 

 

 

 

Electrical Equipment

 

 

 

 

 

ABB Ltd.

 

128,800

 

3,808

 

Energy Equipment & Services

 

 

 

 

 

Aban Offshore Ltd.

 

70,200

 

5,305

 

Metals & Mining

 

 

 

 

 

National Aluminum Co., Ltd.

 

119,700

 

1,357

 

Welspun-Gujarat Stahl Ltd.

 

391,800

 

3,765

 

 

 

 

 

5,122

 

 

 

 

 

14,235

 

Indonesia (3.9%)

 

 

 

 

 

Automobiles

 

 

 

 

 

Astra International Tbk PT

 

1,453,500

 

3,855

 

Commercial Banks

 

 

 

 

 

Bank Central Asia Tbk PT

 

4,400,000

 

1,563

 

Bank Rakyat Indonesia Tbk PT

 

3,315,500

 

2,284

 

 

 

 

 

3,847

 

Commercial Services & Supplies

 

 

 

 

 

Indofood Agri Resources Ltd.

 

(a)725,000

 

1,246

 

Construction Materials

 

 

 

 

 

Indocement Tunggal Prakarsa Tbk PT

 

1,498,000

 

1,153

 

Diversified Telecommunication Services

 

 

 

 

 

Telekomunikasi Indonesia Tbk PT

 

3,250,000

 

3,432

 

Food Products

 

 

 

 

 

Astra Agro Lestari Tbk PT

 

1,424,000

 

4,033

 

Gas Utilities

 

 

 

 

 

Perusahaan Gas Negara PT

 

713,500

 

1,104

 

Metals & Mining

 

 

 

 

 

International Nickel Indonesia Tbk PT

 

1,695,000

 

1,297

 

Oil, Gas & Consumable Fuels

 

 

 

 

 

Bumi Resources Tbk PT

 

11,203,000

 

7,625

 

 

 

 

 

27,592

 

Japan (43.2%)

 

 

 

 

 

Auto Components

 

 

 

 

 

Toyoda Gosei Co., Ltd.

 

46,900

 

1,792

 

Automobiles

 

 

 

 

 

Nissan Motor Co., Ltd.

 

854,600

 

7,092

 

Suzuki Motor Corp.

 

249,300

 

6,312

 

Toyota Motor Corp.

 

202,500

 

10,205

 

Yamaha Motor Co., Ltd.

 

225,100

 

4,162

 

 

 

 

 

27,771

 

Building Products

 

 

 

 

 

Daikin Industries Ltd.

 

172,700

 

7,574

 

Nippon Sheet Glass Co., Ltd.

 

533,000

 

2,406

 

Sanwa Holdings Corp.

 

457,000

 

1,992

 

 

 

 

 

11,972

 

 



 

Chemicals

 

 

 

 

 

Daicel Chemical Industries Ltd.

 

755,000

 

3,922

 

Denki Kagaku Kogyo KK

 

973,000

 

3,103

 

Kaneka Corp.

 

580,000

 

3,638

 

Lintec Corp.

 

169,800

 

2,435

 

Mitsubishi Chemical Holdings Corp.

 

649,000

 

4,302

 

Nifco, Inc.

 

143,100

 

3,340

 

Shin-Etsu Polymer Co., Ltd.

 

258,600

 

1,553

 

Teijin Ltd.

 

960,000

 

4,095

 

Toyo Ink Manufacturing Co., Ltd.

 

513,000

 

1,778

 

 

 

 

 

28,166

 

Commercial Services & Supplies

 

 

 

 

 

Dai Nippon Printing Co., Ltd.

 

303,000

 

4,831

 

Nissha Printing Co., Ltd.

 

58,300

 

2,894

 

 

 

 

 

7,725

 

Computers & Peripherals

 

 

 

 

 

Fujitsu Ltd.

 

1,121,000

 

7,361

 

Mitsumi Electric Co., Ltd.

 

205,500

 

6,650

 

NEC Corp.

 

1,208,000

 

4,628

 

Toshiba Corp.

 

1,239,000

 

8,311

 

 

 

 

 

26,950

 

Construction & Engineering

 

 

 

 

 

Kyudenko Corp.

 

234,000

 

1,218

 

Maeda Road Construction Co., Ltd.

 

181,000

 

1,503

 

Obayashi Corp.

 

673,000

 

2,859

 

Sanki Engineering Co., Ltd.

 

134,000

 

784

 

 

 

 

 

6,364

 

Consumer Finance

 

 

 

 

 

Hitachi Capital Corp.

 

196,900

 

2,375

 

Diversified Telecommunication Services

 

 

 

 

 

Nippon Telegraph & Telephone Corp.

 

852

 

3,706

 

Electric Utilities

 

 

 

 

 

Tokyo Electric Power Co., Inc. (The)

 

74,800

 

2,012

 

Electrical Equipment

 

 

 

 

 

Furukawa Electric Co., Ltd.

 

960,000

 

3,156

 

Electronic Equipment & Instruments

 

 

 

 

 

FUJIFILM Holdings Corp.

 

158,200

 

5,620

 

Hitachi Ltd.

 

927,000

 

5,514

 

Kyocera Corp.

 

76,300

 

6,417

 

Ryosan Co., Ltd.

 

104,700

 

2,483

 

TDK Corp.

 

76,500

 

4,547

 

 

 

 

 

24,581

 

Food & Staples Retailing

 

 

 

 

 

FamilyMart Co., Ltd.

 

138,700

 

5,005

 

Food Products

 

 

 

 

 

House Foods Corp.

 

118,600

 

1,768

 

Nippon Meat Packers, Inc.

 

300,000

 

4,465

 

 

 

 

 

6,233

 

Household Durables

 

 

 

 

 

Casio Computer Co., Ltd.

 

359,300

 

5,332

 

Matsushita Electric Industrial Co., Ltd.

 

458,000

 

9,952

 

Rinnai Corp.

 

28,300

 

928

 

Sekisui Chemical Co., Ltd.

 

606,000

 

3,708

 

Sekisui House Ltd.

 

346,000

 

3,213

 

Sony Corp.

 

125,200

 

5,008

 

 

 

 

 

28,141

 

Leisure Equipment & Products

 

 

 

 

 

Yamaha Corp.

 

221,300

 

4,284

 

Machinery

 

 

 

 

 

Amada Co., Ltd.

 

471,000

 

3,632

 

Daifuku Co., Ltd.

 

340,000

 

4,370

 

Fuji Machine Manufacturing Co., Ltd.

 

120,400

 

2,531

 

Fujitec Co., Ltd.

 

193,000

 

1,098

 

Kurita Water Industries Ltd.

 

165,100

 

6,175

 

Minebea Co., Ltd.

 

592,000

 

3,497

 

Mitsubishi Heavy Industries Ltd.

 

1,470,000

 

6,397

 

Tsubakimoto Chain Co.

 

618,000

 

3,728

 

 

 

 

 

31,428

 

Media

 

 

 

 

 

Toho Co., Ltd.

 

81,600

 

1,918

 

Metals & Mining

 

 

 

 

 

Mitsui Mining & Smelting Co., Ltd.

 

858,000

 

2,720

 

Nippon Steel Corp.

 

402,000

 

2,068

 

 

 

 

 

4,788

 

 



 

Office Electronics

 

 

 

 

 

Canon, Inc.

 

214,600

 

9,944

 

Ricoh Co., Ltd.

 

456,000

 

7,623

 

 

 

 

 

17,567

 

Pharmaceuticals

 

 

 

 

 

Astellas Pharmaceutical, Inc.

 

160,800

 

6,240

 

Daiichi Sankyo Co., Ltd.

 

278,700

 

8,247

 

Ono Pharmaceutical Co., Ltd.

 

103,200

 

4,995

 

 

 

 

 

19,482

 

Road & Rail

 

 

 

 

 

East Japan Railway Co.

 

628

 

5,228

 

Semiconductors & Semiconductor Equipment

 

 

 

 

 

Rohm Co., Ltd.

 

59,300

 

3,682

 

Software

 

 

 

 

 

Nintendo Co., Ltd.

 

25,300

 

13,106

 

Textiles, Apparel & Luxury Goods

 

 

 

 

 

Nisshinbo Industries, Inc.

 

235,000

 

2,212

 

Trading Companies & Distributors

 

 

 

 

 

Hitachi High-Technologies Corp.

 

121,400

 

2,016

 

Marubeni Corp.

 

420,000

 

3,121

 

Mitsubishi Corp.

 

390,700

 

12,040

 

Nagase & Co., Ltd.

 

199,000

 

2,058

 

 

 

 

 

19,235

 

 

 

 

 

308,879

 

Malaysia (1.6%)

 

 

 

 

 

Construction & Engineering

 

 

 

 

 

IJM Corp. Bhd

 

487,250

 

932

 

Food Products

 

 

 

 

 

HAP Seng Plantations Holdings Bhd

 

84,000

 

75

 

IOI Corp. Bhd

 

1,812,950

 

4,043

 

Kuala Lumpur Kepong Bhd

 

378,500

 

1,923

 

 

 

 

 

6,041

 

Industrial Conglomerates

 

 

 

 

 

Sime Darby Bhd

 

(a)1,635,000

 

4,798

 

 

 

 

 

11,771

 

Philippines (0.4%)

 

 

 

 

 

Diversified Financial Services

 

 

 

 

 

Ayala Corp.

 

80,390

 

762

 

Independent Power Producers & Energy Traders

 

 

 

 

 

PNOC Energy Development Corp.

 

3,528,000

 

499

 

Wireless Telecommunication Services

 

 

 

 

 

Philippines Long Distance Telephone Co.

 

24,900

 

1,664

 

 

 

 

 

2,925

 

Singapore (1.9%)

 

 

 

 

 

Commercial Banks

 

 

 

 

 

Oversea-Chinese Banking Corp.

 

264,900

 

1,567

 

United Overseas Bank Ltd.

 

104,500

 

1,462

 

 

 

 

 

3,029

 

Food Products

 

 

 

 

 

Wilmar International Ltd.

 

(a)552,900

 

1,692

 

Real Estate

 

 

 

 

 

CapitaLand Ltd.

 

380,000

 

1,772

 

City Developments Ltd.

 

95,000

 

763

 

United Industrial Corp., Ltd.

 

2,734,000

 

5,485

 

 

 

 

 

8,020

 

Transportation Infrastructure

 

 

 

 

 

CWT Ltd.

 

1,451,000

 

834

 

 

 

 

 

13,575

 

South Korea (6.2%)

 

 

 

 

 

Airlines

 

 

 

 

 

Korean Air Lines Co., Ltd.

 

4,300

 

233

 

Automobiles

 

 

 

 

 

Hyundai Motor Co.

 

86,018

 

6,863

 

Beverages

 

 

 

 

 

Hite Brewery Co., Ltd.

 

14,643

 

1,650

 

Building Products

 

 

 

 

 

EnE System, Inc.

 

(a)85,360

 

520

 

Chemicals

 

 

 

 

 

LG Chemical Ltd.

 

20,220

 

1,514

 

SSCP Co., Ltd.

 

(a)62,703

 

1,419

 

 

 

 

 

2,933

 

Commercial Banks

 

 

 

 

 

Shinhan Financial Group Co., Ltd.

 

46,473

 

2,456

 

 



 

Construction & Engineering

 

 

 

 

 

Samsung Engineering Co., Ltd.

 

15,300

 

1,423

 

Electronic Equipment & Instruments

 

 

 

 

 

LG Display Co., Ltd.

 

89,626

 

4,010

 

Household Durables

 

 

 

 

 

LG Electronics, Inc.

 

17,326

 

2,227

 

Woongjin Coway Co., Ltd.

 

81,870

 

2,474

 

 

 

 

 

4,701

 

Insurance

 

 

 

 

 

Samsung Fire & Marine Insurance Co., Ltd.

 

(a)6,360

 

1,315

 

Internet Software & Services

 

 

 

 

 

NHN Corp.

 

(a)11,741

 

2,746

 

Machinery

 

 

 

 

 

Hyundai Heavy Industries

 

4,641

 

1,741

 

Marine

 

 

 

 

 

STX Pan Ocean Co., Ltd.

 

879,000

 

1,824

 

Media

 

 

 

 

 

Cheil Communications, Inc.

 

6,844

 

1,647

 

Metals & Mining

 

 

 

 

 

POSCO

 

4,074

 

1,950

 

Personal Products

 

 

 

 

 

Amorepacific Corp.

 

1,223

 

661

 

Semiconductors & Semiconductor Equipment

 

 

 

 

 

Hynix Semiconductor, Inc.

 

(a)27,260

 

768

 

Samsung Electronics Co., Ltd.

 

6,516

 

4,141

 

Samsung Electronics Co., Ltd. (Preference)

 

4,853

 

2,204

 

 

 

 

 

7,113

 

Textiles, Apparel & Luxury Goods

 

 

 

 

 

Cheil Industries, Inc.

 

16,630

 

810

 

 

 

 

 

44,596

 

Taiwan (5.6%)

 

 

 

 

 

Chemicals

 

 

 

 

 

Formosa Plastics Corp.

 

696,000

 

2,109

 

Commercial Banks

 

 

 

 

 

Chinatrust Financial Holding Co., Ltd.

 

(a)4,025,000

 

3,914

 

Computers & Peripherals

 

 

 

 

 

Asustek Computer, Inc.

 

1,173,716

 

3,447

 

Foxconn Technology Co., Ltd.

 

151,700

 

909

 

High Tech Computer Corp.

 

133,000

 

2,996

 

InnoLux Display Corp.

 

70,000

 

187

 

InnoLux Display Corp. GDR

 

(a)17,305

 

88

 

 

 

 

 

7,627

 

Construction Materials

 

 

 

 

 

Taiwan Cement Corp.

 

1,768,000

 

3,473

 

Diversified Financial Services

 

 

 

 

 

First Financial Holding Co., Ltd.

 

1,093,000

 

1,148

 

Yuanta Financial Holding Co., Ltd.

 

(a)1,024,000

 

971

 

 

 

 

 

2,119

 

Electronic Equipment & Instruments

 

 

 

 

 

AU Optronics Corp.

 

2,745,191

 

4,728

 

Insurance

 

 

 

 

 

Cathay Financial Holding Co., Ltd.

 

1,574,000

 

4,052

 

Marine

 

 

 

 

 

Yang Ming Marine Transport Corp.

 

3,470,579

 

2,740

 

Metals & Mining

 

 

 

 

 

China Steel Corp.

 

3,154,000

 

4,992

 

Semiconductors & Semiconductor Equipment

 

 

 

 

 

Taiwan Semiconductor Manufacturing Co., Ltd.

 

2,059,000

 

4,287

 

 

 

 

 

40,041

 

Thailand (1.1%)

 

 

 

 

 

Commercial Banks

 

 

 

 

 

Bangkok Bank PCL NVDR

 

131,400

 

565

 

Kasikornbank PCL (Foreign)

 

1,040,900

 

3,056

 

Siam Commercial Bank PCL (Foreign)

 

115,900

 

335

 

 

 

 

 

3,956

 

Household Durables

 

 

 

 

 

Land and Houses PCL (Foreign)

 

2,350,900

 

763

 

Oil, Gas & Consumable Fuels

 

 

 

 

 

Banpu PCL (Foreign)

 

900

 

12

 

Banpu PCL NVDR

 

149,500

 

1,987

 

PTT PCL (Foreign)

 

65,600

 

662

 

 

 

 

 

2,661

 

 



 

Wireless Telecommunication Services

 

 

 

 

 

Advanced Info Service PCL NVDR

 

209,000

 

666

 

 

 

 

 

8,046

 

TOTAL COMMON STOCKS (Cost $560,861)

 

 

 

670,302

 

INVESTMENT COMPANY (1.5%)

 

 

 

 

 

India (1.5%)

 

 

 

 

 

Diversified Financial Services

 

 

 

 

 

Morgan Stanley Growth Fund (Cost $1,593)

 

(a)(b)8,615,401

 

10,580

 

SHORT-TERM INVESTMENT (3.9%)

 

 

 

 

 

United States (3.9%)

 

 

 

 

 

Investment Company Morgan Stanley Institutional Liquidity Money Market Portfolio— Institutional Class (Cost $27,846)

 

(c)27,846,045

 

27,846

 

TOTAL INVESTMENTS + (99.1%) (Cost $590,300)

 

 

 

(d) 708,728

 

OTHER ASSETS IN EXCESS OF LIABILITIES (0.9%)

 

 

 

6,491

 

NET ASSETS (100%)

 

 

 

$

715,219

 

 


(a)

 

Non-income producing security.

(b)

 

The Morgan Stanley Growth Fund, acquired at a cost of $1,592,902 is advised by an affiliate of the Adviser. During the three months ended March 31, 2008, there were no purchases or sales of this security. The Fund derived no income from this security during the three months ended March 31, 2008.

(c)

 

The Fund invests in the Institutional Class of the Morgan Stanley Institutional Liquidity Money Market Portfolio (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 three months ended March 31, 2008, advisory fees paid were reduced by approximately $8,000 relating to the Fund’s investment in the Liquidity Fund. For the same period, income distributions earned by the Fund are recorded as dividends from affiliates and totaled approximately $323,000. During the three months ended March 31, 2008, the approximate cost of purchases and sales in the Liquidity Fund were $70,116,000 and $91,903,000, respectively.

(d)

 

The approximate market value and percentage of the investments, $680,882,000 and 96.1%, respectively, represent the securities that have been fair valued under the fair valuation policy for international investments.

GDR

 

Global Depositary Receipt

NVDR

 

Non-Voting Depositary Receipt

+

 

At March 31, 2008, the U.S. Federal income tax cost basis of investments was approximately $590,300,000 and, accordingly, net unrealized appreciation for U.S. Federal income tax purposes was $118,428,000 of which $157,020,000 related to appreciated securities and $38,592,000 related to depreciated securities.

 



 

Foreign Currency Exchange Contract Information:

 

The Fund had the following foreign currency exchange contract(s) open at period end:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net

 

Currency

 

 

 

 

 

In

 

 

 

Unrealized

 

to

 

 

 

 

 

Exchange

 

 

 

Appreciation

 

Deliver

 

Value

 

Settlement

 

For

 

Value

 

(Depreciation)

 

(000)

 

(000)

 

Date

 

(000)

 

(000)

 

(000)

 

AUD

 

476

 

$

435

 

4/2/08

 

USD

 

436

 

$

436

 

$

1

 

IDR

 

489,428

 

53

 

4/1/08

 

USD

 

53

 

53

 

@(—

)

USD

 

281

 

281

 

4/1/08

 

HKD

 

2,190

 

281

 

@(—

)

USD

 

11

 

11

 

4/1/08

 

THB

 

339

 

11

 

@(—

)

USD

 

24

 

24

 

4/1/08

 

THB

 

754

 

24

 

@(—

)

USD

 

22

 

22

 

4/1/08

 

THB

 

701

 

22

 

@(—

)

 

 

 

 

$

826

 

 

 

 

 

 

 

$

827

 

$

1

 

 

AUD — Australian Dollar

HKD — Hong Kong Dollar

IDR  — Indonesia Rupiah

THB — Thai Baht

USD — United States Dollar

@      Value is less than $500.

 



 

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 entity’s 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 Fund’s investments. The inputs are summarized in the three broad levels listed below.

 

Level 1 – quoted prices in active markets for identical investments

Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

 

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 Fund’s investments carried at value:

 

 

 

Investments in

 

Other Financial

 

 

 

Securities

 

Instruments*

 

Valuation Inputs

 

(000)

 

(000)

 

Level 1 - Quoted Prices

 

$

 

$

 

Level 2 - Other Significant Observable Inputs

 

708,728

 

1

 

Level 3 - Significant Unobservable Inputs

 

 

 

Total

 

$

708,728

 

$

1

 

 


*Other financial instruments include futures, forwards and swap contracts.

 

At March 31, 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 issuer’s 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 Fund’s principal executive officer and principal financial officer have concluded that the Fund’s 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 Commission’s 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 Fund’s internal control over financial reporting that occurred during the registrant’s fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Fund’s 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)

Morgan Stanley Asia-Pacific Fund, Inc.

 

By:

/s/ Ronald E. Robison

 

Name:

Ronald E. Robison

 

Title:

Principal Executive Officer

 

Date:

May 20, 2008

 

 

 

 

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:

/s/ Ronald E. Robison

 

Name:

Ronald E. Robison

 

Title:

Principal Executive Officer

 

Date:

May 20, 2008

 

 

 

 

By:

/s/ James Garrett

 

Name:

James Garrett

 

Title:

Principal Financial Officer

 

Date:

May 20, 2008

 

 


EX-99.CERT 2 a08-15280_10ex99dcert.htm EX-99.CERT

Exhibit 99. CERT

 

FORM N-Q

 

I, James Garrett, certify that:

 

1.                                     I have reviewed this report on Form N-Q of Morgan Stanley Asia-Pacific 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 schedules of investments included in this report fairly present 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) and internal control over financial reporting (as defined in Rule 30a-3(d) 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)                               Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)                                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

 

(d)                               Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report 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: May 20, 2008

/s/ James Garrett

 

 

James Garrett

 

 

Principal Financial Officer

 



 

FORM N-Q

 

I, Ronald E. Robison, certify that:

 

1.                                     I have reviewed this report on Form N-Q of Morgan Stanley Asia-Pacific 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 schedules of investments included in this report fairly present 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) and internal control over financial reporting (as defined in Rule 30a-3(d) 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)                               Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)                                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

 

(d)                               Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report 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: May 20, 2008

/s/ Ronald E. Robison

 

 

Ronald E. Robison

 

 

Principal Executive Officer

 


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