nvq
 
 
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 811-08050
The Asia Tigers Fund, Inc.
 
(Exact name of registrant as specified in charter)
345 Park Avenue
New York, NY 10154
 
(Address of principal executive offices) (Zip code)
Simpson Thacher & Bartlett LLP
425 Lexington Avenue
New York, NY 10017
 
(Name and address of agent for service)
Registrant’s telephone number, including area code: 212-583-5000
Date of fiscal year end: October 31, 2010
Date of reporting period: January 31, 2010
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
 
 

 

 

Item 1. Schedule of Investments.
The Schedule of Investments is attached herewith.

 

 

    The Asia Tigers Fund, Inc.
     
Schedule of Investments   January 31, 2010
    (Unaudited)
COMMON STOCK (97.27% of holdings)
                                 
NUMBER         PERCENT OF              
OF SHARES     SECURITY   HOLDINGS     COST     VALUE  
 
       
China
     14.69 %                
       
Building Products — Cement & Aggregation
     0.68 %                
  476,500    
BBMG Corp.+
           $ 501,683     $ 476,138  
       
 
                    
       
Commercial Banks — Non-US
     3.23 %                
  1,596,000    
China Construction Bank Corp.
             1,108,560       1,228,973  
  1,392,000    
Industrial & Commercial Bank of China, Ltd.
             717,438       1,021,697  
       
 
                    
       
 
             1,825,998       2,250,670  
       
 
                    
       
Electrical & Electronics
     0.54 %                
  59,000    
China Digital TV Holding ADR+
             412,397       374,060  
       
 
                    
       
Life / Health Insurance
     2.04 %                
  319,000    
China Life Insurance Co., Ltd.
             898,475       1,423,319  
       
 
                    
       
Oil Companies — Integrated
     2.15 %                
  6,714    
China Petroleum and Chemical Corp. ADR
             401,985       521,611  
  864,000    
PetroChina Co., Ltd.
             938,505       979,049  
       
 
                    
       
 
             1,340,490       1,500,660  
       
 
                    
       
Pharmaceuticals
     0.40 %                
  368,000    
Guangzhou Pharmaceutical Co., Ltd.
             254,309       280,055  
       
 
                    
       
Property & Casualty Insurance
     0.68 %                
  520,000    
PICC Property and Casualty Co., Ltd.+
             402,636       473,403  
       
 
                    
       
Retail Food Chains
     1.14 %                
  130,000    
Lianhua Supermarket Holdings, Ltd.
             155,138       338,145  
  1,092,000    
Sichuan Xinhua Winshare
             462,239       454,185  
       
 
                    
       
 
             617,377       792,330  
       
 
                    
       
Schools
     0.62 %                
  6,329    
New Oriental Education & Technology Group, Inc. ADR+
             398,965       430,372  
       
 
                    
       
Telecommunications Equipment
     0.60 %                
  70,990    
ZTE Corp.
             97,852       416,841  
       
 
                    
       
Transportation
     0.77 %                
  780,000    
Anhui Expressway Co., Ltd.
             502,591       539,358  
       
 
                    

1

 

     


Schedule of Investments
  The Asia Tigers Fund, Inc.

January 31, 2010
(Unaudited)
COMMON STOCK (continued)
                                 
NUMBER         PERCENT OF              
OF SHARES     SECURITY   HOLDINGS     COST     VALUE  
 
       
China (concluded)
                        
       
Web Portals & Internet Service Providers
     1.84 %                
  24,675    
NetEase.com, Inc. ADR+
           $ 472,661     $ 809,340  
  9,415    
Sohu.com, Inc.+
             472,509       474,045  
       
 
                    
       
 
             945,170       1,283,385  
       
 
                    
       
Total China
             8,197,943       10,240,591  
       
 
                    
       
Hong Kong
     18.24 %                
       
Apparel Manufacturers
     1.41 %                
  60,150    
Esprit Holdings, Ltd.
             329,448       426,771  
  205,500    
Ports Design, Ltd.
             395,452       554,376  
       
 
                    
       
 
             724,900       981,147  
       
 
                    
       
Audio & Video Products
     1.61 %                
  1,160,000    
Skyworth Digital Holdings, Ltd.
             280,578       1,118,789  
       
 
                    
       
Cellular Telecommunications
     2.50 %                
  183,600    
China Mobile, Ltd.
             852,493       1,743,584  
       
 
                    
       
Commercial Banks — Non-US
     0.86 %                
  131,000    
Industrial & Commercial Bank of China (Asia), Ltd.
             248,315       256,403  
  41,000    
Wing Hang Bank, Ltd.
             311,856       345,807  
       
 
                    
       
 
             560,171       602,210  
       
 
                    
       
Diversified Financial Services
     0.28 %                
  82,000    
China Everbright, Ltd.
             204,723       194,285  
       
 
                    
       
Diversified Operations
     5.10 %                
  158,000    
Beijing Enterprises Holdings, Ltd.
             516,637       1,101,701  
  842,000    
Guangdong Investment, Ltd.
             331,933       431,522  
  168,381    
Hutchison Whampoa, Ltd.
             833,551       1,152,404  
  126,000    
Shanghai Industrial Holdings, Ltd.
             448,242       588,148  
  56,000    
Wharf Holdings, Ltd.
             126,455       278,345  
       
 
                    
       
 
             2,256,818       3,552,120  
       
 
                    
       
Finance — Other Services
     0.65 %                
  26,700    
Hong Kong Exchanges & Clearing, Ltd.
             220,654       454,862  
       
 
                    

2

 

The Asia Tigers Fund, Inc.

Schedule of Investments		  
January 31, 2010
    (Unaudited)
COMMON STOCK (continued)
                                 
NUMBER         PERCENT OF              
OF SHARES     SECURITY   HOLDINGS     COST     VALUE  
 
       
Hong Kong (concluded)
                        
       
Oil Companies — Exploration & Production
     0.81 %                
  451,800    
CNPC Hong Kong, Ltd.
           $ 135,696     $ 563,739  
       
 
                    
       
Paper & Related Products
     0.97 %                
  1,171,800    
Lee & Man Paper Manufacturing, Ltd.
             227,446       674,480  
       
 
                    
       
Real Estate — Operations & Development
     1.54 %                
  74,700    
Cheung Kong Holdings, Ltd.
             523,253       885,426  
  114,000    
Sino Land Co., Ltd.
             201,069       189,073  
       
 
                    
       
 
             724,322       1,074,499  
       
 
                    
       
Retail — Restaurants
     0.66 %                
  210,000    
Cafe De Coral Holdings, Ltd.
             159,601       459,702  
       
 
                    
       
Telecommunications Equipment
     1.01 %                
  71,000    
VTech Holdings, Ltd.
             297,036       703,518  
       
 
                    
       
Transportation
     0.84 %                
  181,000    
MTR Corp., Ltd.
             481,249       588,502  
       
 
                    
       
Total Hong Kong
             7,125,687       12,711,437  
       
 
                    
       
India
     10.71 %                
       
Applications Software
     2.06 %                
  26,782    
Infosys Technologies, Ltd.
             625,548       1,436,669  
       
 
                    
       
Building — Heavy Construction
     0.85 %                
  44,362    
IVRCL Infrastructures and Projects, Ltd.
             168,256       295,555  
  100,546    
Jaiprakash Associates, Ltd.
             327,473       299,874  
       
 
                    
       
 
             495,729       595,429  
       
 
                    
       
Commercial Banks — Non-US
     0.73 %                
  7,243    
HDFC Bank, Ltd.
             279,020       255,842  
  5,630    
State Bank of India
             23,141       250,954  
       
 
                    
       
 
             302,161       506,796  
       
 
                    
       
Finance
     0.88 %                
  118,421    
Rural Electrification Corp., Ltd.
             584,530       616,087  
       
 
                    

3

 

The Asia Tigers Fund, Inc.
     
Schedule of Investments   January 31, 2010
    (Unaudited)
COMMON STOCK (continued)
                                 
NUMBER         PERCENT OF              
OF SHARES     SECURITY   HOLDINGS     COST     VALUE  
 
       
India (concluded)
                        
       
Finance — Other Services
     0.89 %                
  12,010    
Housing Development Finance Corp., Ltd.
           $ 634,091     $ 619,723  
       
 
                    
       
Food & Beverages
     0.64 %                
  170,589    
Balrampur Chini Mills, Ltd.
             172,210       444,300  
       
 
                    
       
Metals — Diversified
     0.80 %                
  34,297    
Sterlite Industries (India), Ltd.
             634,507       558,988  
       
 
                    
       
Oil Refining & Marketing
     1.11 %                
  34,133    
Reliance Industries, Ltd.
             123,241       773,704  
       
 
                    
       
Power Conversion & Supply Equipment
     0.59 %                
  7,837    
Bharat Heavy Electricals, Ltd.
             136,824       408,476  
       
 
                    
       
Steel
     0.80 %                
  97,544    
Welspun Gujarat Stahl Rohren, Ltd.
             448,895       555,010  
       
 
                    
       
Tire & Rubber
     0.75 %                
  456,228    
Apollo Tyres, Ltd.
             309,265       522,730  
       
 
                    
       
Vehicle
     0.61 %                
  19,343    
Mahindra & Mahindra, Ltd.
             322,830       427,079  
       
 
                    
       
Total India
             4,789,831       7,464,991  
       
 
                    
       
Indonesia
     3.97 %                
       
Coal
     1.53 %                
  577,500    
PT Tambang Batubara Bukit Asam TBK
             345,505       1,062,353  
       
 
                    
       
Commercial Banks — Non-US
     1.41 %                
  1,202,500    
PT Bank Rakyat Indonesia
             529,547       983,864  
       
 
                    
       
Telecommunications Services
     1.03 %                
  718,500    
PT Telekomunikasi Indonesia TBK
             584,757       718,500  
       
 
                    
       
Total Indonesia
             1,459,809       2,764,717  
       
 
                    

4

 

The Asia Tigers Fund, Inc.
     
Schedule of Investments   January 31, 2010
    (Unaudited)
COMMON STOCK (continued)
                                 
NUMBER         PERCENT OF              
OF SHARES     SECURITY   HOLDINGS     COST     VALUE  
 
       
Malaysia
     2.97 %                
       
Commercial Banks — Non-US
     0.92 %                
  172,900    
CIMB Group Holdings BHD
           $ 215,926     $ 641,722  
       
 
                    
       
Hotel/Restaurants
     0.59 %                
  198,000    
Genting BHD
             428,178       409,235  
       
 
                    
       
Rubber & Vinyl
     1.46 %                
  311,600    
Top Glove Corp. BHD
             513,843       1,021,310  
       
 
                    
       
Total Malaysia
             1,157,947       2,072,267  
       
 
                    
       
Singapore
     10.60 %                
       
Agriculture Operations
     1.35 %                
  200,000    
Wilmar International, Ltd.
             407,944       938,914  
       
 
                    
       
Commercial Banks — Non-US
     2.57 %                
  103,650    
DBS Group Holdings, Ltd.
             564,027       1,054,406  
  57,000    
United Overseas Bank, Ltd.
             351,945       737,396  
       
 
                    
       
 
             915,972       1,791,802  
       
 
                    
       
Computers — Integrated Systems
     0.72 %                
  800,000    
CSE Global, Ltd.
             504,203       498,664  
       
 
                    
       
Diversified Operations
     0.71 %                
  83,000    
Keppel Corp., Ltd.
             300,184       494,896  
       
 
                    
       
Real Estate — Operations & Development
     0.99 %                
  294,883    
Keppel Land, Ltd.
             250,354       689,023  
       
 
                    
       
REITS — Diversified
     1.08 %                
  999,000    
CapitaCommercial Trust
             477,192       754,365  
       
 
                    
       
Transportation — Marine
     1.62 %                
  749,000    
Ezra Holdings, Ltd.
             190,566       1,131,170  
       
 
                    
       
Water Treatment Systems
     1.56 %                
  460,000    
Hyflux, Ltd.
             839,014       1,084,666  
       
 
                    
       
Total Singapore
             3,885,429       7,383,500  
       
 
                    

5

 

The Asia Tigers Fund, Inc.
     
Schedule of Investments   January 31, 2010
    (Unaudited)
COMMON STOCK (continued)
                                 
NUMBER         PERCENT OF              
OF SHARES     SECURITY   HOLDINGS     COST     VALUE  
 
       
South Korea
     19.28 %                
       
Cellular Telecommunications
     1.01 %                
  4,467    
SK Telecom Co., Ltd.
           $ 669,323     $ 703,646  
       
 
                    
       
Chemicals
     1.37 %                
  5,531    
LG Chem, Ltd.
             226,163       952,184  
       
 
                    
       
Consumer Staples
     0.61 %                
  606    
Amorepacific Corp.
             457,526       422,518  
       
 
                    
       
Diversified Financial Services
     2.69 %                
  19,625    
KB Financial Group, Inc.+
             416,406       854,766  
  28,982    
Shinhan Financial Group Co., Ltd.
             437,370       1,022,821  
       
 
                    
       
 
             853,776       1,877,587  
       
 
                    
       
Electric Products — Miscellaneous
     0.28 %                
  2,092    
LG Electronics, Inc.
             204,667       196,280  
       
 
                    
       
Electronic Components — Miscellaneous
     0.65 %                
  13,920    
LG Display Co., Ltd.
             296,235       454,115  
       
 
                    
       
Electronic Components — Semiconductors
     4.85 %                
  5,013    
Samsung Electronics Co., Ltd.
             1,384,433       3,382,993  
       
 
                    
       
Engineering
     0.85 %                
  6,048    
Samsung Engineering Co., Ltd.
             587,969       590,874  
       
 
                    
       
Metal Processors & Fabrication
     0.75 %                
  7,640    
Taewoong Co., Ltd.+
             554,915       526,103  
       
 
                    
       
Non-Ferrous Metals
     0.26 %                
  1,233    
Korea Zinc Co., Ltd.
             61,057       179,895  
       
 
                    
       
Property & Casualty Insurance
     1.12 %                
  44,000    
LIG Insurance Co., Ltd.
             606,712       778,309  
       
 
                    
       
Retail — Discount
     1.07 %                
  1,648    
Shinsegae Co., Ltd.
             515,816       744,739  
       
 
                    
       
Retail — Miscellaneous/Diversified
     0.61 %                
  7,709    
CJ O Shopping Co., Ltd.+
             469,151       423,356  
       
 
                    

6

 

The Asia Tigers Fund, Inc.
     
Schedule of Investments   January 31, 2010
    (Unaudited)
COMMON STOCK (continued)
                                 
NUMBER         PERCENT OF              
OF SHARES     SECURITY   HOLDINGS     COST     VALUE  
 
       
South Korea (concluded)
                        
       
Shipbuilding
     0.67 %                
  22,830    
Samsung Heavy Industries Co., Ltd.
           $ 345,178     $ 470,651  
       
 
                    
       
Steel — Producers
     1.85 %                
  2,799    
POSCO
             315,520       1,291,383  
       
 
                    
       
Web Portals & Internet Service Providers
     0.64 %                
  2,984    
NHN Corp.+
             281,076       444,357  
       
 
                    
       
Total South Korea
             7,829,517       13,438,990  
       
 
                    
       
Sri Lanka
     0.32 %                
       
Diversified Operations
     0.32 %                
  146,100    
John Keells Holdings PLC
             148,818       224,916  
       
 
                    
       
Total Sri Lanka
             148,818       224,916  
       
 
                    
       
Taiwan
     13.79 %                
       
Building Products — Cement & Aggregation
     0.57 %                
  426,000    
Taiwan Cement Corp.
             240,033       398,050  
       
 
                    
       
Computers
     2.01 %                
  206,040    
Acer, Inc.
             424,564       578,532  
  210,739    
Advantech Co., Ltd.
             264,645       428,788  
  284,000    
Compal Electronics, Inc.
             329,852       396,494  
       
 
                    
       
 
             1,019,061       1,403,814  
       
 
                    
       
Computers — Integrated Systems
     0.20 %                
  160,000    
Alpha Networks Inc.
             151,773       140,487  
       
 
                    
       
Diversified Financial Services
     0.91 %                
  541,000    
Fubon Financial Holding Co., Ltd.+
             321,527       633,363  
       
 
                    
       
Electronic Components — Miscellaneous
     2.86 %                
  242,306    
Asustek Computer, Inc.
             378,657       470,261  
  361,480    
Hon Hai Precision Industry Co., Ltd.
             569,483       1,521,914  
       
 
                    
       
 
             948,140       1,992,175  
       
 
                    
       
Electronic Components — Semiconductors
     1.12 %                
  48,088    
MediaTek, Inc.
             523,398       782,751  
       
 
                    

7

 

     
 
  The Asia Tigers Fund, Inc.
 
    
Schedule of Investments
  January 31, 2010
 
  (Unaudited)
COMMON STOCK (concluded)
                                 
NUMBER         PERCENT OF              
OF SHARES     SECURITY   HOLDINGS     COST     VALUE  
 
       
Taiwan (concluded)
                        
       
Food — Miscellaneous / Diversified
     0.39 %                
  251,604    
Uni-President Enterprises Corp.
           $ 198,454     $ 269,356  
       
 
                    
       
Metal Processors & Fabrication
     0.52 %                
  88,303    
Shin Zu Shing Co., Ltd.
             327,090       359,337  
       
 
                    
       
Power Conversion & Supply Equipment
     0.90 %                
  206,659    
Delta Electronics, Inc.
             441,896       627,494  
       
 
                    
       
Semiconductor Equipment — Integrated Circuits
     4.31 %                
  86,300    
Powertech Technology, Inc.
             155,285       276,897  
  309,000    
Siliconware Precision Industries Co.
             300,617       410,117  
  1,202,583    
Taiwan Semiconductor Manufacturing Co., Ltd.
             1,785,874       2,315,121  
       
 
                    
       
 
             2,241,776       3,002,135  
       
 
                    
       
Total Taiwan
             6,413,148       9,608,962  
       
 
                    
       
Thailand
     1.95 %                
       
Building Products — Cement & Aggregation
     0.38 %                
  40,800    
Siam Cement PCL
             251,945       267,944  
       
 
                    
       
Cellular Telecommunications
     0.77 %                
  213,700    
Advanced Info Service PCL
             576,597       534,331  
       
 
                    
       
Commercial Banks — Non-US
     0.80 %                
  231,205    
Siam Commercial Bank PCL
             144,418       555,463  
       
 
                    
       
Total Thailand
             972,960       1,357,738  
       
 
                    
       
United Kingdom
     0.75 %                
       
Diversified Financial Services
     0.75 %                
  9,775    
HSBC Holdings PLC-ADR
             394,523       523,060  
       
 
                    
       
Total United Kingdom
             394,523       523,060  
       
 
                    
       
TOTAL COMMON STOCK
             42,375,612       67,791,169  
       
 
                    

8

 

     
 
  The Asia Tigers Fund, Inc.
 
    
Schedule of Investments
  January 31, 2010
 
  (Unaudited)
EXCHANGE TRADED FUNDS (1.24% of holdings)
                                 
NUMBER         PERCENT OF              
OF SHARES     SECURITY   HOLDINGS     COST     VALUE  
 
       
Hong Kong
     0.82 %                
  339,700    
iShares Asia Trust — iShares FTSE/Xinhua A50 China Index ETF
           $ 335,538     $ 571,277  
       
 
                    
       
Total Hong Kong
             335,538       571,277  
       
 
                    
       
Taiwan
     0.42 %                
  24,475    
iShares MSCI Taiwan Index Fund
             236,921       295,413  
       
 
                    
       
Total Taiwan
             236,921       295,413  
       
 
                    
       
TOTAL EXCHANGE TRADED FUNDS
             572,459       866,690  
       
 
                    
 
PRINCIPAL         PERCENT OF              
AMOUNT     SECURITY   HOLDINGS     COST     VALUE  
 
REPURCHASE AGREEMENTS (1.49% of holdings)                        
       
United States
     1.49 %                
  1,038,447    
State Street Bank, 0.01% dated 01/29/10, due 02/01/10 proceeds at maturity $1,038,448 (Collateralized by $1,060,000 U.S. Treasury Bill, 0.12%, due 07/08/10, Market Value $1,059,436)
             1,038,447       1,038,447  
       
 
                    
       
Total United States
             1,038,447       1,038,447  
       
 
                    
       
TOTAL REPURCHASE AGREEMENTS
             1,038,447       1,038,447  
       
 
                    
       
TOTAL INVESTMENTS
     100.00 %   $ 43,986,518     $ 69,696,306  
       
 
                    
 
Footnotes and Abbreviations
 
ADR   American Depository Receipts.
 
+   Non-Income producing security.
 
++   As of October 31, 2009, the aggregate cost for federal income tax purposes was $44,808,486.
 
    The aggregate gross unrealized appreciation (depreciation) for all securities were as follows:
         
Excess of value over tax cost
   $ 28,255,965  
Excess of tax cost over value
     (900,411 )
 
      
 
   $ 27,355,554  
 
      
 
    These temporary differences in book and tax cost are due to wash sale loss deferrals and cumulative mark to market of passive foreign investment companies.

9

 

Supplemental Information to the Schedule of Investments
Fair Value Measurements
In accordance with the authoritative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (level 3 measurements). The guidance establishes three levels of the fair value hierarchy as follows:
Level 1 – price quotations in active markets/exchanges for identical securities
Level 2 – other significant observable inputs (including, but not limited to quoted prices for similar securities, interest rates, credit risk, etc.)
Level 3 – significant unobservable inputs (including the Fund’s own assumptions used in determining the fair value of investments).
A financial instrument’s level within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. However, the determination of what constitutes “observable” requires significant judgment by the Investment Manager. The Investment Manager considers observable data to be market data which is readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market.
         
    Investments in  
Valuation Inputs   Securities*  
Level 1 – Quoted Prices
   $ 67,568,065  
Level 2 – Other Significant Observable Inputs
     2,128,241  
Level 3 – Significant Unobservable Inputs
     0  
 
      
Total
   $ 69,696,306  
 
      
 
The Fund held no Level 3 securities on January 31, 2010.
 
*   See Schedule of Investments for identification of securities by security type and country and industry classification.
Effective January 1, 2009, the Fund adopted the authoritative guidance under GAAP on determining fair value when the volume and level of activity for the asset or liability have

 

 

significantly decreased and identifying transactions that are not orderly. Accordingly, if the Fund determines that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value. Valuation techniques such as an income approach might be appropriate to supplement or replace a market approach in those circumstances. The guidance also provides a list of factors to determine whether there has been a significant decrease in relation to normal market activity. Regardless, however, of the valuation technique and inputs used, the objective for the fair value measurement in those circumstances is unchanged from what it would be if markets were operating at normal activity levels and/or transactions were orderly; that is, to determine the current exit price.

 

 

Item 2. Controls and Procedures.
  (a)   The registrant’s principal executive and principal financial officers, or persons performing similar functions, 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 the report that includes the disclosure required by this paragraph, based on their evaluation of these 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, as amended (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.
Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

 

 

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) The Asia Tigers Fund, Inc.    
 
            
By (Signature and Title)*   /s/ Prakash A. Melwani    
 
     
 
Prakash A. Melwani, President 		   
 
      (principal executive officer)    
 
            
Date
   March 12, 2010        
         
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 (Signature and Title)*   /s/ Prakash A. Melwani    
 
     
 
Prakash A. Melwani, President 		   
 
      (principal executive officer)    
 
            
Date
   March 12, 2010        
           
 
            
By (Signature and Title)*   /s/ Joseph M. Malangoni    
 
     
 
Joseph M. Malangoni, Treasurer and Vice President 		   
 
      (principal financial officer)    
 
            
Date
   March 12, 2010        
           
 
*   Print the name and title of each signing officer under his or her signature.