03.31.05 TFC 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: 811-05617
  
Taiwan Greater China Fund
  
(Exact name of registrant as specified in charter)
 
Bank Tower, Room 1001
205 Dun Hua North Road
Taipei 105, Taiwan
Republic of China
(Address of principal executive offices)           (Zip code)

Brown Brothers Harriman and Co.
50 Milk Street
Boston, MA 02109-3661
(Name and address of agent for service)
 
Registrant’s telephone number, including area code: 1-800-343-9567
  
Date of fiscal year end: December 31, 2005
Date of reporting period: March 31, 2005


Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (ss.ss. 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, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.

ITEM 1. SCHEDULE OF INVESTMENTS.
 
TAIWAN GREATER CHINA FUND
Schedule of Investments (Unaudited) / March 31, 2005
 
COMMON STOCKS — 99.62%
      
   
% of
  
U.S. Dollar
Automobile — 2.98%
  
Net Assets
  
Value
1,013,000
shs.
China Motor Corp.
1.13
  
$ 1,203,946
171,528
  
Tong Yang Industry Co., Ltd.
0.22
  
228,323
285,000
  
TYC Brother Industrial Co., Ltd.
0.22
  
238,008
1,216,885
  
Yulon Motor Co., Ltd.
1.41
  
1,496,399
         
3,166,676
Cement — 2.16%
          
1,808,090
  
Asia Cement Corporation
1.12
  
1,191,927
1,902,290
  
Taiwan Cement Corp.
1.04
  
1,103,301
         
2,295,228
Chemicals — 0.51%
          
798,000
  
Eternal Chemical Co., Ltd.
0.51
  
542,496
           
Communications Equipment — 2.08%
      
895,748
  
D-Link Corp.
1.05
  
1,112,854
498,450
  
Zyxel Communications Corp.
1.03
  
1,097,925
         
2,210,779
Computer Systems & Hardware — 19.53%
      
739,286
  
Acer Inc.
1.09
  
1,159,802
111,166
  
Advantech Co., Ltd.
0.24
  
253,671
1,996,000
  
Asustek Computer Inc.
5.18
  
5,503,589
1,018,285
  
Compal Electronics Inc.
0.87
  
927,841
710,600
  
Elitegroup Computer Systems Co., Ltd.
0.46
  
487,584
190,950
  
Giga-Byte Technology Co., Ltd.
0.19
  
195,776
2,397,417
  
Hon Hai Precision Industry Co., Ltd.
10.02
  
10,637,458
756,550
  
Inventec Corp.
0.34
  
365,657
720,743
  
Quanta Computer Inc.
1.14
  
1,208,377
         
20,739,755
Electrical & Machinery — 2.39%
      
814,000
  
Teco Electric & Machinery Co., Ltd.
0.23
  
240,440
4,925,000
*
Walsin Lihwa Corp.
2.16
  
2,294,509
         
2,534,949
Electronic Components — 3.74%
      
188,000
  
Career Technology (MFG.) Co., Ltd.
0.29
  
306,854
84,800
  
Catcher Technology Co., Ltd.
0.32
  
344,011
423,150
  
Delta Electronics Inc.
0.65
  
685,301
102,400
  
Largan Precision Co., Ltd.
0.53
  
567,942
103,909
  
Merry Electronics Co., Ltd.
0.24
  
254,236
218,347
  
Tripod Technology Corp.
0.33
  
346,006
714,996
  
Wus Printed Circuit Co., Ltd.
0.31
  
326,311
3,173,000
*
Yageo Corp.
1.07
  
1,136,357
         
3,967,018
Electronics — 0.47%
          
330,000
  
Synnex Technology International Corp.
0.47
  
504,112
           
Flat-Panel Displays — 8.55%
      
3,550,000
  
AU Optronics Corp.
4.88
  
5,186,752
1,300,913
  
Chi Mei Optoelectronics Corp.
1.80
  
1,906,892
3,685,000
*
Chunghwa Picture Tubes, Ltd.
1.44
  
1,529,942
868,000
*
Quanta Display Inc.
0.43
  
459,412
         
9,082,998
     
% of
  
U.S. Dollar
Food — 1.88%
    
Net Assets
  
Value
4,317,000
shs.
Uni-President Enterprise Corp.
1.88
  
$ 1,997,566
           
Glass, Paper & Pulp — 0.57%
        
387,160
  
Taiwan Glass Ind. Corporation
0.35
  
367,497
500,000
  
Yuen Foong Yu Paper Manufacturing Co., Ltd.
0.22
  
235,322
         
602,819
ODM — Peripherals — 8.37%
        
3,263,700
  
BenQ Corp.
3.17
  
3,366,879
1,009,000
  
CMC Magnetics Corp.
0.41
  
439,704
3,167,300
  
Lite-on Technology Corp.
3.21
  
3,402,946
565,200
  
Premier Image Technology Corp.
0.60
  
639,494
3,280,009
  
Ritek Inc.
0.98
  
1,044,738
         
8,893,761
Plastics — 12.73%
          
2,757,320
  
Formosa Chemicals & Fiber Corp.
5.28
  
5,610,330
1,961,980
  
Formosa Plastics Corp.
3.31
  
3,513,252
2,525,920
  
Nan Ya Plastics Corp.
3.51
  
3,730,540
1,002,000
  
Taiwan Styrene Monomer Corp.
0.63
  
663,713
         
13,517,835
Retailing — 0.50%
          
314,512
  
President Chain Store Corp.
0.50
  
535,276
           
Rubber — 1.50%
          
1,325,160
  
Cheng Shin Rubber Ind. Co., Ltd.
1.50
  
1,593,846
           
Semiconductors — 14.39%
        
1,326,314
*
Advanced Semiconductor Engineering, Inc.
0.92
  
977,317
81,000
  
MediaTek Inc.
0.54
  
575,042
94,400
  
Novatek Microelectronics Corp.
0.40
  
427,833
668,100
  
Siliconware Precision Industries Co., Ltd.
0.55
  
579,115
171,600
  
Sunplus Technology Co., Ltd.
0.24
  
257,244
5,021,614
  
Taiwan Semiconductor Manufacturing Co., Ltd.
7.72
  
8,196,280
7,078,640
*
United Microelectronics Corp.
4.02
  
4,273,769
         
15,286,600
Steel & Other Metals — 8.59%
      
7,025,260
  
China Steel Corp.
7.37
  
7,826,254
2,113,000
  
Yieh Phui Enterprise Co., Ltd.
1.22
  
1,292,478
         
9,118,732
Textiles — 0.51%
          
817,256
  
Far Eastern Textile Ltd.
0.51
  
536,160
           
Transportation — 3.70%
        
747,600
  
China Airlines Ltd.
0.38
  
407,534
687,602
*
Eva Airways Corp.
0.30
  
321,437
1,179,619
  
Evergreen Marine Corp. (Taiwan) Ltd.
1.09
  
1,155,225
436,150
  
Wan Hai Lines Ltd.
0.45
  
481,040
1,620,227
  
Yang Ming Marine Transport Corp.
1.48
  
1,566,181
         
3,931,417
Other — 4.47%
          
973,000
  
Giant Manufacturing Co., Ltd.
1.54
  
1,634,387
608,000
  
Great China Metal Industry Co., Ltd.
0.34
  
362,266
157,480
  
Nien Made Enterprise Co., Ltd.
0.24
  
257,538
2,363,326
  
Pou Chen Corp.
1.82
  
1,932,456
282,000
  
Taiwan Fu Hsing Industrial Co., Ltd.
0.31
  
322,643
256,887
  
Taiwan Hon Chuan Enterprise Co., Ltd.
0.22
  
234,477
         
4,743,767
           
           
TOTAL COMMON STOCK (COST $113,504,845)
    
105,801,790
SHORT-TERM SECURITIES — 0.17%
        
Time Deposit — 0.17%
        
Wells Fargo (Grand Cayman), 2.900%, Due 04/01/05
0.17
  
188,887
           
TOTAL INVESTMENTS IN SECURITIES AT MARKET VALUE
99.79
  
105,990,677
(COST 113,693,732)
        
           
OTHER ASSETS (LESS LIABILITIES)
0.21
 
218,736
           
NET ASSETS
   
100.00
  
$ 106,209,413
           
           
 
 
 
 
At March 31, 2005, the cost of investments, excluding short-term investments, for U.S. federal income tax purposes
was approximately equal to the cost of such investments for financial reporting purposes. At March 31, 2005,
the unrealized depreciation of $7,703,055 for financial reporting purposes consisted of $6,893,075 of gross unrealized
appreciation and $14,596,130 of gross unrealized depreciation.
 
* Non-income producing: these stocks did not pay a cash dividend during the year.
 


 

























ITEM 2. CONTROLS AND PROCEDURES.
 
(a) The registrant’s principal executive officer and principal financial officer 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) are effective as of a date within 90 days of the filing date of this report based on their evaluation of such disclosure controls and procedures as required by Rule 30a-3(b) under the Investment Company Act of 1940, as amended and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended.
 
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940, as amended) 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 required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended:
 
See Exhibit 99.Cert 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.
 
 
Taiwan Greater China Fund
 
 

 
 By: /s/ Steven R. Champion  
Name: Steven R. Champion
Title: Chief Executive Officer and President
 

 
Date: May 18, 2005
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 
 

 
 
By: /s/ Steven R. Champion  
Name: Steven R. Champion
Title: Chief Executive Officer and President
 

 
 
By: /s/ Cheryl Chang  
Name: Cheryl Chang
Title: Chief Financial Officer
 
Date: May 18, 2005