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: July 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
        July 31, 2010
 
        (Unaudited)
COMMON STOCK (100.00% of holdings)
                                 
NUMBER            PERCENT OF          
OF SHARES     SECURITY       HOLDINGS   COST     VALUE  
 
       
China
     15.36 %                
       
Airlines
     0.80 %                
  1,018,000    
China Eastern Airlines Corp., Ltd.+
           $ 461,229     $ 570,260  
       
 
                    
       
Auto / Truck Parts & Equipment
     0.72 %                
  62,000    
Weichai Power Co., Ltd.
             479,931       512,581  
       
 
                    
       
Building Products — Cement & Aggregation
     0.79 %                
  476,500    
BBMG Corp.
             501,683       562,689  
       
 
                    
       
Commercial Banks — Non-US
     3.40 %                
  1,596,000    
China Construction Bank Corp.
             1,108,560       1,354,424  
  1,392,000    
Industrial & Commercial Bank of China, Ltd.
             717,438       1,062,992  
       
 
                    
       
 
             1,825,998       2,417,416  
       
 
                    
       
Electric Products — Miscellaneous
     0.89 %                
  237,000    
Zhuzhou CSR Times Electric Co., Ltd.
             447,316       634,816  
       
 
                    
       
Electrical & Electronics
     0.49 %                
  59,000    
China Digital TV Holdings ADR+
             412,397       349,280  
       
 
                    
       
Electronic Components — Miscellaneous
     0.60 %                
  242,000    
AAC Acoustic Technology Holdings, Inc.
             354,045       430,062  
       
 
                    
       
Information Technology
     0.17 %                
  190,000    
Lenovo Group, Ltd.
             153,013       122,093  
       
 
                    
       
Life / Health Insurance
     1.40 %                
  225,000    
China Life Insurance Co., Ltd.
             532,429       999,627  
       
 
                    
       
Lighting Products & Systems
     0.55 %                
  973,000    
NVC Lighting Holdings, Ltd.+
             265,220       389,681  
       
 
                    
       
Oil Companies — Integrated
     1.70 %                
  2,864    
China Petroleum and Chemical Corp. ADR
             137,862       230,609  
  864,000    
PetroChina Co., Ltd.
             938,505       980,225  
       
 
                    
       
 
             1,076,367       1,210,834  
       
 
                    
       
Retail — Apparel/Shoes
     0.22 %                
  277,000    
China Dongxiang Group, Co.
             199,340       156,953  
       
 
                    

1

 

     
 
  The Asia Tigers Fund, Inc.
 
    
Schedule of Investments
        July 31, 2010
 
        (Unaudited)
COMMON STOCK (continued)
                                 
NUMBER            PERCENT OF              
OF SHARES     SECURITY       HOLDINGS   COST     VALUE  
 
       
China (concluded)
                        
       
Retail — Bookstores
     0.81 %                
  1,092,000    
Sichuan Xinhua Winshare
           $ 462,240     $ 573,745  
       
 
                    
       
Retail — Food
     0.18 %                
  30,000    
Lianhua Supermarket Holdings, Ltd.
             34,680       129,420  
       
 
                    
       
Schools
     0.72 %                
  5,229    
New Oriental Education & Technology Group, Inc. ADR+
             315,146       511,396  
       
 
                    
       
Telecommunications Equipment
     0.61 %                
  136,485    
ZTE Corp.
             198,184       436,765  
       
 
                    
       
Transportation
     0.69 %                
  780,000    
Anhui Expressway Co., Ltd.
             502,591       492,183  
       
 
                    
       
Web Portals & Internet Service Providers
     0.62 %                
  9,415    
Sohu.com, Inc.+
             472,510       442,693  
       
 
                    
       
Total China
             8,694,319       10,942,494  
       
 
                    
       
Hong Kong
     17.11 %                
       
Apparel Manufacturers
     1.27 %                
  60,150    
Esprit Holdings, Ltd.
             329,448       377,612  
  205,500    
Ports Design, Ltd.
             395,452       528,742  
       
 
                    
       
 
             724,900       906,354  
       
 
                    
       
Cellular Telecommunications
     3.54 %                
  249,600    
China Mobile, Ltd.
             1,507,639       2,524,800  
       
 
                    
       
Coal
     0.36 %                
  20,250    
SouthGobi Resources, Ltd.+
             261,806       255,817  
       
 
                    
       
Commercial Banks — Non-US
     0.62 %                
  41,000    
Wing Hang Bank, Ltd.
             311,856       442,714  
       
 
                    
       
Diversified Operations
     3.95 %                
  179,500    
Beijing Enterprises Holdings, Ltd.
             667,903       1,186,974  
  842,000    
Guangdong Investment, Ltd.
             331,933       421,791  
  95,381    
Hutchison Whampoa, Ltd.
             488,441       630,109  

2

 

     
 
  The Asia Tigers Fund, Inc.
 
    
Schedule of Investments
        July 31, 2010
 
        (Unaudited)
COMMON STOCK (continued)
                                 
NUMBER            PERCENT OF            
OF SHARES     SECURITY       HOLDINGS   COST     VALUE  
 
       
Hong Kong (concluded)
                        
       
Diversified Operations (concluded)
                        
  59,000    
Shanghai Industrial Holdings, Ltd.
           $ 186,388     $ 268,962  
  56,000    
Wharf Holdings, Ltd.
             126,455       306,488  
       
 
                    
       
 
             1,801,120       2,814,324  
       
 
                    
       
Finance — Other Services
     0.62 %                
  26,700    
Hong Kong Exchanges & Clearing, Ltd.
             220,654       439,075  
       
 
                    
       
Oil Companies — Exploration & Production
     1.45 %                
  274,000    
CNOOC, Ltd.
             401,316       461,524  
  437,800    
Kunlun Energy Co., Ltd.
             131,421       570,549  
       
 
                    
       
 
             532,737       1,032,073  
       
 
                    
       
Paper & Related Products
     1.17 %                
  1,132,400    
Lee & Man Paper Manufacturing, Ltd.
             315,842       832,668  
       
 
                    
       
Real Estate — Operations & Development
     1.27 %                
  74,700    
Cheung Kong Holdings, Ltd.
             523,253       902,799  
       
 
                    
       
Retail — Restaurants
     0.71 %                
  210,000    
Cafe De Coral Holdings, Ltd.
             159,601       505,164  
       
 
                    
       
Telecommunications Equipment
     1.06 %                
  71,000    
VTech Holdings, Ltd.
             297,037       755,222  
       
 
                    
       
Transportation
     1.09 %                
  221,500    
MTR Corp., Ltd.
             631,670       778,704  
       
 
                    
       
Total Hong Kong
             7,288,115       12,189,714  
       
 
                    
       
India
     11.16 %                
       
Applications Software
     1.76 %                
  20,832    
Infosys Technologies, Ltd.
             369,010       1,251,963  
       
 
                    
       
Auto — Cars & Light Trucks
     0.68 %                
  26,684    
Tata Motors, Ltd.
             445,773       486,557  
       
 
                    
       
Building — Heavy Construction
     0.46 %                
  88,724    
IVRCL Infrastructures and Projects, Ltd.
             168,255       330,098  
       
 
                    

3

 

     
 
  The Asia Tigers Fund, Inc.
 
    
Schedule of Investments
        July 31, 2010
 
        (Unaudited)
COMMON STOCK (continued)
                                         
NUMBER          PERCENT OF        
OF SHARES   SECURITY        HOLDINGS   COST     VALUE  
 
       
India (concluded)
                        
       
Commercial Banks — Non-US
    1.15 %                
  3,691    
HDFC Bank, Ltd.
          $ 141,122     $ 169,215  
  101,765    
Yes Bank, Ltd.
            623,603       646,818  
       
 
                       
       
 
            764,725       816,033  
       
 
                       
       
Commercial Vehicles
    0.27 %                
  126,544    
Ashok Leyland, Ltd.
            160,368       193,341  
       
 
                       
       
Finance
    1.08 %                
  117,640    
Rural Electrification Corp., Ltd.
            573,971       769,014  
       
 
                       
       
Finance — Other Services
    0.81 %                
  8,921    
Housing Development Finance Corp., Ltd.
            458,453       573,122  
       
 
                       
       
Independent Power Producer
    0.84 %                
  416,383    
Lanco Infratech, Ltd.+
            548,870       596,691  
       
 
                       
       
Metals — Diversified
    0.34 %                
  64,233    
Sterlite Industries (India), Ltd.
            294,074       242,093  
       
 
                       
       
Oil Refining & Marketing
    1.04 %                
  34,133    
Reliance Industries, Ltd.
            123,241       742,607  
       
 
                       
       
Power Conversion & Supply Equipment
    0.51 %                
  6,974    
Bharat Heavy Electricals, Ltd.
            100,479       366,531  
       
 
                       
       
Steel
    0.52 %                
  69,837    
Welspun Corp., Ltd.
            288,621       372,399  
       
 
                       
       
Television
    0.16 %                
  17,597    
Zee Entertainment Enterprises, Ltd.
            102,717       112,169  
       
 
                       
       
Tire & Rubber
    0.95 %                
  491,801    
Apollo Tyres, Ltd.
            359,584       677,213  
       
 
                       
       
Vehicle
    0.59 %                
  29,638    
Mahindra & Mahindra, Ltd.
            244,478       422,488  
       
 
                       
       
Total India
            5,002,619       7,952,319  
       
 
                       

4

 

     
 
  The Asia Tigers Fund, Inc.
 
    
Schedule of Investments
        July 31, 2010
 
        (Unaudited)
COMMON STOCK (continued)
                                 
NUMBER            PERCENT OF            
OF SHARES     SECURITY       HOLDINGS   COST     VALUE  
 
       
Indonesia
     4.30 %                
       
Automobiles
     0.87 %                
  109,000    
PT Astra International TBK
           $ 561,116     $ 617,567  
       
 
                    
       
Building Products — Cement & Aggregation
     0.97 %                
  367,500    
PT Indocement Tunggal Prakarsa TBK
             552,493       694,055  
       
 
                    
       
Coal
     1.15 %                
  438,000    
PT Tambang Batubara Bukit Asam TBK
             261,073       817,411  
       
 
                    
       
Commercial Banks — Non-US
     1.31 %                
  844,500    
PT Bank Rakyat Indonesia
             341,485       934,296  
       
 
                    
       
Total Indonesia
             1,716,167       3,063,329  
       
 
                    
       
Malaysia
     3.88 %                
       
Commercial Banks — Non-US
     1.13 %                
  345,800    
CIMB Group Holdings BHD
             215,926       804,439  
       
 
                    
       
Hotel/Restaurants
     0.70 %                
  198,000    
Genting BHD
             428,178       497,334  
       
 
                    
       
Internet
     0.21 %                
  492,900    
Green Packet BHD+
             153,942       151,852  
       
 
                    
       
Rubber & Vinyl
     1.84 %                
  627,300    
Top Glove Corp. BHD
             521,994       1,309,422  
       
 
                    
       
Total Malaysia
             1,320,040       2,763,047  
       
 
                    
       
Singapore
     10.90 %                
       
Agriculture Operations
     1.29 %                
  200,000    
Wilmar International, Ltd.
             407,944       920,893  
       
 
                    
       
Commercial Banks — Non-US
     2.54 %                
  164,000    
Oversea-Chinese Banking Corp., Ltd.
             1,074,821       1,089,272  
  49,000    
United Overseas Bank, Ltd.
             571,308       715,781  
       
 
                    
       
 
             1,646,129       1,805,053  
       
 
                    
       
Computers — Integrated Systems
     0.79 %                
  800,000    
CSE Global, Ltd.
             504,203       564,893  
       
 
                    

5

 

     
 
  The Asia Tigers Fund, Inc.
 
    
Schedule of Investments
        July 31, 2010
 
        (Unaudited)
COMMON STOCK (continued)
                                 
NUMBER            PERCENT OF            
OF SHARES     SECURITY       HOLDINGS   COST     VALUE  
 
       
Singapore (concluded)
                        
       
Diversified Operations
     0.80 %                
  83,000    
Keppel Corp., Ltd.
           $ 294,181     $ 570,203  
       
 
                    
       
Real Estate — Operations & Development
     1.23 %                
  294,883    
Keppel Land, Ltd.
             250,354       876,266  
       
 
                    
       
REITS — Diversified
     1.22 %                
  895,000    
CapitaCommercial Trust
             418,226       868,964  
       
 
                    
       
Transportation — Marine
     1.49 %                
  722,000    
Ezra Holdings, Ltd.
             304,007       1,062,116  
       
 
                    
       
Water Treatment Systems
     1.54 %                
  460,000    
Hyflux, Ltd.
             839,014       1,092,862  
       
 
                    
       
Total Singapore
             4,664,058       7,761,250  
       
 
                    
       
South Korea
     20.72 %                
       
Auto / Truck Parts & Equipment
     0.86 %                
  3,556    
Hyundai Mobis
             505,213       614,671  
       
 
                    
       
Cellular Telecommunications
     0.69 %                
  3,503    
SK Telecom Co., Ltd.
             524,787       492,995  
       
 
                    
       
Chemicals
     2.00 %                
  5,120    
LG Chem, Ltd.
             208,832       1,423,815  
       
 
                    
       
Consumer Staples
     0.70 %                
  606    
Amorepacific Corp.
             457,526       494,809  
       
 
                    
       
Diversified Financial Services
     2.87 %                
  19,625    
KB Financial Group, Inc.
             416,406       854,288  
       
 
                    
  29,062    
Shinhan Financial Group Co., Ltd.
             453,924       1,191,393  
       
 
                    
       
 
             870,330       2,045,681  
       
 
                    
       
Electric Products — Miscellaneous
     0.57 %                
  4,760    
LG Electronics, Inc.
             457,009       404,353  
       
 
                    
       
Electronic Components — Miscellaneous
     0.42 %                
  9,750    
LG Display Co., Ltd.
             178,540       299,157  
       
 
                    

6

 

     
 
  The Asia Tigers Fund, Inc.
 
    
Schedule of Investments
        July 31, 2010
 
        (Unaudited)
COMMON STOCK (continued)
                                 
NUMBER            PERCENT OF            
OF SHARES     SECURITY       HOLDINGS   COST     VALUE  
 
       
South Korea (concluded)
                        
       
Electronic Components — Semiconductors
     4.82 %                
  5,013    
Samsung Electronics Co., Ltd.
           $ 1,384,433     $ 3,432,183  
       
 
                    
       
Engineering / Research & Development Services
     0.87 %                
  5,941    
Samsung Engineering Co., Ltd.
             510,509       620,175  
       
 
                    
       
Non-Ferrous Metals
     0.52 %                
  1,851    
Korea Zinc Co., Ltd.
             146,909       368,455  
       
 
                    
       
Property & Casualty Insurance
     1.33 %                
  44,000    
LIG Insurance Co., Ltd.
             606,712       950,236  
       
 
                    
       
Retail — Discount
     1.11 %                
  1,648    
Shinsegae Co., Ltd.
             515,816       788,427  
       
 
                    
       
Retail — Miscellaneous/Diversified
     1.06 %                
  7,709    
CJ O Shopping Co., Ltd.+
             469,151       755,864  
       
 
                    
       
Shipbuilding
     0.67 %                
  22,830    
Samsung Heavy Industries Co., Ltd.
             345,178       476,640  
       
 
                    
       
Steel — Producers
     1.51 %                
  2,587    
POSCO
             262,756       1,075,844  
       
 
                    
       
Web Portals & Internet Service Providers
     0.72 %                
  3,315    
NHN Corp.+
             328,843       515,572  
       
 
                    
       
Total South Korea
             7,772,544       14,758,877  
       
 
                    
       
Sri Lanka
     0.45 %                
       
Diversified Operations
     0.45 %                
  146,100    
John Keells Holdings PLC
             148,818       320,565  
       
 
                    
       
Total Sri Lanka
             148,818       320,565  
       
 
                    
       
Taiwan
     13.50 %                
       
Building Products — Cement & Aggregation
     0.56 %                
  426,000    
Taiwan Cement Corp.
             240,033       396,174  
       
 
                    
       
Computers
     2.13 %                
  206,246    
Acer, Inc.
             424,564       552,247  
       
 
                    

7

 

     
 
  The Asia Tigers Fund, Inc.
 
    
Schedule of Investments
        July 31, 2010
 
        (Unaudited)
COMMON STOCK (continued)
                                 
NUMBER            PERCENT OF            
OF SHARES     SECURITY       HOLDINGS   COST     VALUE  
 
       
Taiwan (concluded)
                        
       
Computers (concluded)
                        
  210,739    
Advantech Co., Ltd.
           $ 264,645     $ 451,816  
  393,000    
Compal Electronics, Inc.
             481,460       514,499  
       
 
                    
       
 
             1,170,669       1,518,562  
       
 
                    
       
Computers — Integrated Systems
     0.35 %                
  327,000    
Alpha Networks Inc.
             304,437       248,999  
       
 
                    
       
Diversified Financial Services
     0.93 %                
  541,000    
Fubon Financial Holding Co., Ltd.+
             321,527       663,514  
       
 
                    
       
Electronic Components & Instruments
     0.61 %                
  212,000    
WPG Holdings Co., Ltd.
             364,613       437,318  
       
 
                    
       
Electronic Components — Miscellaneous
     2.45 %                
  306,000    
AU Optronics Corp.
             353,373       289,828  
  361,480    
Hon Hai Precision Industry Co., Ltd.+
             569,483       1,455,238  
       
 
                    
       
 
             922,856       1,745,066  
       
 
                    
       
Electronic Components — Semiconductors
     1.03 %                
  54,196    
MediaTek, Inc.
             624,083       733,185  
       
 
                    
       
Metal Processors & Fabrication
     0.14 %                
  44,000    
Catcher Technology Co., Ltd.
             98,857       99,003  
       
 
                    
       
Power Conversion & Supply Equipment
     1.00 %                
  206,659    
Delta Electronics, Inc.
             441,896       712,650  
       
 
                    
       
Semiconductor Equipment — Integrated Circuits
     4.30 %                
  136,300    
Powertech Technology, Inc.
             309,319       416,852  
  309,000    
Siliconware Precision Industries Co.
             300,617       300,866  
  1,202,583    
Taiwan Semiconductor Manufacturing Co., Ltd.
             1,785,874       2,341,853  
       
 
                    
       
 
             2,395,810       3,059,571  
       
 
                    
       
Total Taiwan
             6,884,781       9,614,042  
       
 
                    

8

 

     
 
  The Asia Tigers Fund, Inc.
 
    
Schedule of Investments
        July 31, 2010
 
        (Unaudited)
COMMON STOCK (concluded)
                                 
NUMBER            PERCENT OF            
OF SHARES     SECURITY       HOLDINGS   COST     VALUE  
 
       
Thailand
     1.92 %                
       
Cellular Communications
     0.87 %                
  213,700    
Advanced Info Service PCL
           $ 576,597     $ 619,084  
       
 
                    
       
Commercial Banks — Non-US
     1.05 %                
  271,205    
Siam Commercial Bank PCL
             245,401       747,862  
       
 
                    
       
Total Thailand
             821,998       1,366,946  
       
 
                    
       
United Kingdom
     0.70 %                
       
Diversified Financial Services
     0.70 %                
  9,775    
HSBC Holdings PLC-ADR
             394,523       499,307  
       
 
                    
       
Total United Kingdom
             394,523       499,307  
       
 
                    
       
TOTAL COMMON STOCKS
             44,707,982       71,231,890  
       
 
                    
       
TOTAL INVESTMENTS++
     100.00 %   $ 44,707,982     $ 71,231,890  
       
 
                    
Footnotes and Abbreviations
 
ADR   American Depository Receipts.
 
+   Non-Income producing security.
 
++   As of April 30, 2010, the aggregate cost for federal income tax purposes was $46,721,893. The aggregate gross unrealized appreciation (depreciation) for all securities were as follows:
         
Excess of value over tax cost
   $ 29,895,786  
Excess of tax cost over value
     (317,673 )
 
      
 
   $ 29,578,113  
 
      
 
    These temporary differences in book and tax cost were due to wash sale loss deferrals.

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.
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. A summary of the inputs used to value the Fund’s securities as of July 31, 2010, is as follows:
         
    Investments in  
    Securities*  
Valuation Inputs
        
Level 1 — Quoted Prices
   $ 71,231,890  
Level 2 — Other Significant Observable Inputs
     0  
Level 3 — Significant Unobservable Inputs
     0  
 
      
Total
   $ 71,231,890  
 
      
The Fund held no Level 3 securities on July 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.
Financial Derivative Instruments:
Effective January 1, 2009, the Fund adopted amendments to authoritative guidance on disclosures about derivative instruments and hedging activities which require that the Fund disclose a) how and why an entity uses derivative instruments, b) how derivative instruments and related hedged items are accounted for, and c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance and cash flows. The adoption of the additional disclosure requirements did not materially impact the Fund’s financial statements. At July 31, 2010, the Fund held no derivative instruments.

 

 

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 
 September 16, 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 
 September 16, 2010
 
    
 
        
By (Signature and Title)*
  /s/ Joseph M. Malangoni
 
Joseph M. Malangoni, Treasurer and Vice President 		   
 
  (principal financial officer)    
 
        
Date
 September 16, 2010
 
  
 
*   Print the name and title of each signing officer under his or her signature.