<PAGE>
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
Filed by the Registrant /X/
Filed by a Party other than the Registrant / /
Check the appropriate box:
/ / Preliminary Proxy Statement
/ / Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
/X/ Definitive Proxy Statement
/ / Definitive Additional Materials
/ / Soliciting Material Pursuant to Section 240.14a-11(c) or 240.14a-12
THE SINGAPORE FUND, INC.
- --------------------------------------------------------------------------------
(Name of Registrant as Specified In Its Charter)
- --------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
/X/ No fee required
/ / Fee computed on table below per Exchange Act Rules 14a-6(i)(4)
and 0-11.
(1) Title of each class of securities to which transaction applies:
------------------------------------------------------------------------
(2) Aggregate number of securities to which transaction applies:
------------------------------------------------------------------------
(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the
filing fee is calculated and state how it was determined):
------------------------------------------------------------------------
(4) Proposed maximum aggregate value of transaction:
------------------------------------------------------------------------
(5) Total fee paid:
------------------------------------------------------------------------
/ / Fee paid previously with preliminary materials.
/ / Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
------------------------------------------------------------------------
(2) Form, Schedule or Registration Statement No.:
------------------------------------------------------------------------
(3) Filing Party:
------------------------------------------------------------------------
(4) Date Filed:
------------------------------------------------------------------------
<PAGE>
THE SINGAPORE FUND, INC.
C/O DAIWA SECURITIES TRUST COMPANY
ONE EVERTRUST PLAZA
JERSEY CITY, NEW JERSEY 07302
(800) 933-3440
April 13, 1998
Dear Stockholders:
The Annual Meeting of Stockholders of The Singapore Fund, Inc. (the "Fund")
will be held at 9:30 A.M., New York time, on Thursday, June 4, 1998 at the
offices of Daiwa Securities America Inc., Financial Square, 32 Old Slip, 14th
Floor, New York, New York 10005. A Notice and Proxy Statement regarding the
meeting, a proxy card for your vote at the meeting, and a postage prepaid
envelope in which to return your proxy are enclosed.
At the Annual Meeting, the stockholders will (i) elect two Class I directors
and one Class II director, and (ii) consider the ratification of the selection
of Price Waterhouse LLP as independent accountants. In addition, the
stockholders who will be present at the Annual Meeting will hear an investment
report on the Fund and will have an opportunity to discuss matters of interest
to them.
If you will not be able to attend the Annual Meeting in person, please take
the time now to review the enclosed materials and vote your shares by proxy.
YOUR VOTE IS IMPORTANT.
The Board recommends that the stockholders vote in favor of each of the
foregoing matters.
Respectfully,
/s/ Shuichi Komori
Shuichi Komori
CHAIRMAN OF THE BOARD
STOCKHOLDERS ARE STRONGLY URGED TO PROMPTLY SIGN AND MAIL THE ACCOMPANYING PROXY
IN THE ENCLOSED RETURN ENVELOPE TO INSURE A QUORUM AT THE MEETING.
YOUR VOTE IS IMPORTANT.
<PAGE>
THE SINGAPORE FUND, INC.
----------
NOTICE OF THE ANNUAL MEETING OF STOCKHOLDERS
JUNE 4, 1998
------------------------
To the Stockholders of
The Singapore Fund, Inc.:
NOTICE IS HEREBY GIVEN that the Annual Meeting of Stockholders of The
Singapore Fund, Inc. (the "Fund") will be held at the offices of Daiwa
Securities America Inc., Financial Square, 32 Old Slip, 14th Floor, New York,
New York 10005, on Thursday, June 4, 1998, at 9:30 A.M., New York time, for the
following purposes:
1. To elect two Class I directors to serve for a term expiring on the date
on which the Annual Meeting of Stockholders is held in the year 2001 and
one Class II director to serve for a term expiring on the date on which
the Annual Meeting of Stockholders is held in the year 1999.
2. To ratify or reject the selection of Price Waterhouse LLP as independent
accountants of the Fund for its fiscal year ending October 31, 1998.
3. To transact such other business as may properly come before the meeting
or any adjournments thereof.
The Board of Directors has fixed the close of business on March 17, 1998 as
the record date for the determination of stockholders entitled to notice of and
to vote at the meeting or any adjournments thereof.
You are cordially invited to attend the meeting. Stockholders who do not
expect to attend the meeting in person are requested to complete, date and sign
the enclosed form of proxy and return it promptly in the envelope provided for
that purpose. You may nevertheless vote in person at the meeting if you choose
to attend. Your vote is important. The enclosed proxy is being solicited by the
Board of Directors of the Fund.
By order of the Board of Directors,
Lawrence Jacob
SECRETARY
April 13, 1998
<PAGE>
THE SINGAPORE FUND, INC.
----------
PROXY STATEMENT
------------------------
INTRODUCTION
This Proxy Statement is furnished in connection with the solicitation of
proxies by the Board of Directors of THE SINGAPORE FUND, INC. (the "Fund") for
use at the Annual Meeting of Stockholders, to be held at the offices of Daiwa
Securities America Inc., Financial Square, 32 Old Slip, 14th Floor, New York,
New York 10005, on Thursday, June 4, 1998, at 9:30 A.M., New York time, and at
any adjournments thereof.
This Proxy Statement and the form of proxy are being mailed to stockholders
on or about April 13, 1998. Any stockholder giving a proxy in advance of the
Annual Meeting has the power to revoke it by mail (addressed to the Secretary,
The Singapore Fund, Inc., c/o Daiwa Securities Trust Company, One Evertrust
Plaza, 9th Floor, Jersey City, New Jersey 07302) or in person at the meeting, by
executing a superseding proxy or by submitting a notice of revocation to the
Fund. All properly executed proxies received in time for the meeting will be
voted as specified in the proxy or, if no specification is made, for each
proposal referred to in this Proxy Statement. Abstentions and broker non-votes
are each included in the determination of the number of shares present at the
meeting.
THE FUND WILL FURNISH, WITHOUT CHARGE, A COPY OF ITS ANNUAL REPORT FOR ITS
FISCAL YEAR ENDED OCTOBER 31, 1997 TO ANY STOCKHOLDER REQUESTING SUCH REPORT.
REQUESTS FOR THE ANNUAL REPORT SHOULD BE MADE BY WRITING TO THE SINGAPORE FUND,
INC., C/O DAIWA SECURITIES TRUST COMPANY, ONE EVERTRUST PLAZA, 9TH FLOOR, JERSEY
CITY, NEW JERSEY 07302, ATTENTION: SHAREHOLDER RELATIONS, OR BY CALLING (800)
933-3440 OR (201) 915-3020.
The Board of Directors has fixed the close of business on March 17, 1998 as
the record date for the determination of stockholders entitled to notice of and
to vote at the meeting and at any adjournments thereof. Stockholders on the
record date will be entitled to one vote for each share held, with no shares
having cumulative voting rights. As of the record date, the Fund had outstanding
9,195,287 shares of common stock. To the knowledge of the Fund's management, no
person owned beneficially more than 5% of the Fund's outstanding shares as of
March 17, 1998.
Management of the Fund knows of no business other than that mentioned in
Items 1 and 2 of the Notice of Meeting which will be presented for consideration
at the meeting. If any other matter is properly presented, it is the intention
of the persons named in the enclosed proxy to vote in accordance with their best
judgment.
The Board recommends that the stockholders vote in favor of each of the
matters mentioned in Items 1 and 2 of the Notice of Meeting.
1
<PAGE>
(1) ELECTION OF DIRECTORS
Persons named in the accompanying form of proxy intend in the absence of
contrary instructions to vote all proxies for the election of the three nominees
listed below as directors of the Fund:
<TABLE>
<CAPTION>
CLASS I CLASS II
- ---------------------------- ----------------------------
<S> <C>
David G. Harmer Ronnie Teo Heng Hock
Oren G. Shaffer
</TABLE>
to serve for a term expiring on the date upon which the Annual Meeting of
Stockholders is held as follows: Class I in the year 2001 and Class II in the
year 1999, or until their successors are elected and qualified. If any such
nominee should be unable to serve, an event that is not now anticipated, the
proxies will be voted for such person, if any, as shall be designated by the
Board of Directors to replace such nominee. The election of each director will
require the affirmative vote of a majority of the votes cast at the meeting. For
this purpose, abstentions and broker non-votes will not be counted as votes cast
at the meeting.
At their September 4, 1997 meeting, the Board of Directors unanimously
elected Mr. Ronnie Teo Heng Hock to fill the vacancy created by the resignation
of Mr. James McCarthy, whose resignation was effective as of September 1997. Mr.
McCarthy had served as a Class II director and Mr. Teo is therefore standing for
election as a Class II director. At their December 4, 1997 meeting, the Board of
Directors elected Mr. Shaffer to fill the vacancy created by the death of Mr.
Frederick W. Zuckerman in September 1997. Mr. Zuckerman had served as a Class I
director and Mr. Shaffer is therefore standing for election as a Class I
director. Although the term of the Fund's Class II directors does not expire
until the date on which the Annual Meeting of Stockholders is held in the year
1999, Maryland law and the Fund's By-laws require a director, regardless of
Class, who is elected by the Board of Directors to fill a vacancy to stand for
election at the next Annual Meeting of Stockholders.
INFORMATION CONCERNING NOMINEE AND DIRECTORS
The following table sets forth information concerning each of the nominees
as a director of the Fund, as well as the other current directors of the Fund.
Each of the nominees is now a director of the Fund and has consented to be named
in this Proxy Statement and to serve as a director of the Fund if elected.
NOMINEES
<TABLE>
<CAPTION>
PRESENT OFFICE WITH THE FUND, IF ANY,
PRINCIPAL OCCUPATION SHARES
OR EMPLOYMENT DURING PAST BENEFICIALLY
FIVE YEARS AND OWNED PERCENT
NAME (AGE) AND ADDRESS DIRECTORSHIPS IN DIRECTOR FEBRUARY 28, OF
OF NOMINEES/DIRECTORS PUBLICLY HELD COMPANIES SINCE 1998(+) CLASS
- -------------------------------- -------------------------------------------------- -------- ----------------- -------
<S> <C> <C> <C> <C> <C>
David G. Harmer (54) President, Jetway Systems Inc, since January 1997; 1996 1,000 **
1805 West - 2550 South Vice President and Chief Financial Officer, Armco
Ogden, UT 84401 Inc., from April 1993 to December 1996; Vice
President and Corporate Controller, FMC
Corporation, from 1987 to 1993; Director, The
Japan Equity Fund, Inc., since 1996.
</TABLE>
2
<PAGE>
<TABLE>
<CAPTION>
PRESENT OFFICE WITH THE FUND, IF ANY,
PRINCIPAL OCCUPATION SHARES
OR EMPLOYMENT DURING PAST BENEFICIALLY
FIVE YEARS AND OWNED PERCENT
NAME (AGE) AND ADDRESS DIRECTORSHIPS IN DIRECTOR FEBRUARY 28, OF
OF NOMINEES/DIRECTORS PUBLICLY HELD COMPANIES SINCE 1998(+) CLASS
- -------------------------------- -------------------------------------------------- -------- ----------------- -------
<S> <C> <C> <C> <C> <C>
Oren G. Shaffer (55) Executive Vice President and Chief Financial 1997 None --
30 S. Wacker Drive, Officer of Ameritech Corporation, since 1994;
38th Floor President and Director of Virgo Cap Inc., from
Chicago, IL 60606 1992 to 1994; Executive Vice President, Chief
Financial Officer and Director, The Goodyear Tire
and Rubber Company, from 1984 to 1992: Director,
Sunshine Mining since 1992; Director, Hygenic
Corporation since 1993; Director, The Taiwan
Equity Fund, Inc., since 1994.
* Ronnie Teo Heng President of the Fund, since 1997; Executive 1997 None --
Hock (49) Director, DBS Asset Management Ltd., since July
24 Raffles Place 1996; General Manager, DBS Finance Ltd., from June
#10-00, Clifford Centre 1994 to June 1996; Director, Finad Services Pte.
Singapore 048621 Ltd., from 1992 to May 1994.
OTHER CURRENT DIRECTORS
* Shuichi Komori (54) Chairman of the Board of the Fund, since 1995; 1995 None --
Financial Square Chairman, since 1994, The Taiwan Equity Fund,
32 Old Slip, 14th Floor Inc.; Chairman, since 1994, The Thai Capital Fund,
New York, NY 10005 Inc.; Chairman and Chief Executive Officer, Daiwa
Securities America Inc., since 1994; Director,
Daiwa Securities Co. Ltd., since 1991.
</TABLE>
3
<PAGE>
<TABLE>
<CAPTION>
PRESENT OFFICE WITH THE FUND, IF ANY,
PRINCIPAL OCCUPATION SHARES
OR EMPLOYMENT DURING PAST BENEFICIALLY
FIVE YEARS AND OWNED PERCENT
NAME (AGE) AND ADDRESS DIRECTORSHIPS IN DIRECTOR FEBRUARY 28, OF
OF NOMINEES/DIRECTORS PUBLICLY HELD COMPANIES SINCE 1998(+) CLASS
- -------------------------------- -------------------------------------------------- -------- ----------------- -------
<S> <C> <C> <C> <C> <C>
Alfred C. Morley (71) Financial Consultant, since 1991; Senior Director, 1990 4,103 **
119 Falcon Drive Old Dominion Capital Management, since 1991;
Charlottesville, VA 22901 Senior Adviser, since 1990, Financial Analysts
Federation; Senior Adviser, since 1990, Institute
of Chartered Financial Analysts; Director, The
Thai Capital Fund, Inc., since 1990.
</TABLE>
- ------------------------
+ The information as to beneficial ownership is based on statements furnished
to the Fund by the nominee and directors.
* Directors and nominees so noted are deemed by the Fund's counsel to be
"interested persons" (as defined in the U.S. Investment Company Act of 1940,
as amended (the "1940 Act")) of the Fund or of the Fund's investment
manager, DBS Asset Management (United States) Pte. Ltd. (the "Investment
Manager") or the Fund's investment adviser, Daiwa International Capital
Management (Singapore) Limited (the "Investment Adviser"). Mr. Teo is deemed
an interested person because of his affiliation with the Investment Manager,
or because he is an officer of the Fund, or both. Mr. Komori is deemed an
interested person because of his affiliation with Daiwa Securities America
Inc., an affiliate of the Investment Adviser, or because he is an officer of
the Fund, or both.
** Represented less than 1% of the outstanding shares at February 28, 1998.
The Fund's Board of Directors held four regular meetings during the fiscal
year ended October 31, 1997. Each incumbent director attended at least
seventy-five percent of the aggregate number of meetings of the Board of
Directors.
The Fund's Board of Directors has an Audit Committee which is responsible
for reviewing financial and accounting matters. The current members of the Audit
Committee are Messrs. Shaffer, Harmer and Morley. The Audit Committee met twice
during the fiscal year ended October 31, 1997. All of the incumbent members of
the Committee attended the meetings held during the fiscal year. The Fund has
neither a compensation nor a nominating committee.
Section 16(a) of the U.S. Securities Exchange Act of 1934, as amended,
requires the Fund's officers and directors, and persons who own more than ten
percent of a registered class of the Fund's equity securities, to file reports
of ownership and changes in ownership with the Securities and Exchange
Commission and the New York Stock Exchange, Inc. The Fund believes that its
officers and directors have complied with all applicable filing requirements.
4
<PAGE>
OFFICERS OF THE FUND
Mr. Komori (age 54) has been Chairman of the Board of the Fund since June
1995 (see information provided above).
Mr. Teo (age 49) has been President of the Fund since September 1997 (see
information provided above).
Daniel F. Barry (age 51), Vice President of the Fund since June 1992, was
also Treasurer of the Fund from September 1991 to September 1994 and has been
Senior Vice President of Daiwa Securities Trust Company ("DSTC"), the Fund's
Administrator and Custodian, since June 1993. From June 1990 to June 1993, he
was Vice President, Mutual Fund Administration of DSTC.
Lawrence Jacob (age 53), Secretary of the Fund since July 1990, has been
Senior Vice President since November 1985, and Assistant Secretary since
February 1986, of Daiwa Securities America Inc.
Edward J. Grace (age 51), Treasurer of the Fund since September 1994, was
Assistant Treasurer of the Fund from July 1990 to September 1994, has been a
Vice President of DSTC since December 1992 and Assistant Vice President of DSTC
from November 1989 to December 1992.
Laurence E. Cranch (age 51), Assistant Secretary of the Fund since July
1990, has been a partner in the law firm of Rogers & Wells LLP since 1980.
TRANSACTIONS WITH AND REMUNERATION OF OFFICERS AND DIRECTORS
The aggregate fee remuneration for directors not affiliated with the
Investment Manager or the Investment Adviser was U.S. $27,183 during the fiscal
year ended October 31, 1997. Each such non-affiliated director currently
receives fees, paid by the Fund, of U.S. $750 for each directors' meeting
attended in person or by telephone, U.S. $600 for each audit committee meeting
attended in person or by telephone and an annual fee of U.S. $5,000. The
officers and interested directors of the Fund received no compensation from the
Fund.
DSTC, which pays the compensation and certain expenses of the officers of
DSTC who serve as officers of the Fund, receives administration and custodian
fees.
Set forth below is a chart showing the aggregate fee compensation paid by
the Fund (in U.S. dollars) to each of its directors during the fiscal year ended
October 31, 1997, as well as the total fee compensation paid to each director of
the Fund by the Fund and by other investment companies
5
<PAGE>
advised by the Investment Manager, the Investment Adviser or their respective
affiliates (collectively, the "Fund Complex") for their services as directors of
such investment companies during their respective fiscal years:
<TABLE>
<CAPTION>
PENSION OR TOTAL
RETIREMENT COMPENSATION FROM
AGGREGATE BENEFITS ACCRUED FUND AND FUND
COMPENSATION AS PART OF COMPLEX PAID TO
NAME OF DIRECTOR FROM FUND FUND EXPENSES DIRECTORS
- ------------------------- ------------ ---------------- -----------------
<S> <C> <C> <C>
Shuichi Komori+* $ 0 None $ 0
Ronnie Teo Heng Hock+ 0 None 0
James McCarthy+ 0 None 0
David G Harmer* 9,200 None 9,200
Alfred C. Morley* 9,200 None 18,198
Oren G. Shaffer++* 0 None 9,200
Frederick W. Zuckerman++ 8,783 None 17,566
</TABLE>
- ------------------------
+ Mr. Teo and his predecessor, Mr. McCarthy, who are both affiliated with the
Investment Manager, and Mr. Komori, who is affiliated with the Investment
Adviser, are considered "interested persons" of the Fund and do not receive
any fee compensation from the Fund for their services as directors. Mr. Teo
was elected to the Board of Directors in September 1997 to replace Mr.
McCarthy, who resigned.
++ Mr. Shaffer was elected to the Board of Directors in December 1997 to fill
the vacancy resulting from the death of Mr. Zuckerman in September 1997.
* Also serves or served as a director of other investment companies for which
an affiliate of the Investment Adviser serves as investment manager or
investment adviser.
(2) RATIFICATION OR REJECTION OF SELECTION OF INDEPENDENT ACCOUNTANTS
At a meeting to be held on June 4, 1998, the Board of Directors of the Fund,
including a majority of the directors who are not "interested persons" of the
Fund (as defined in the 1940 Act), will consider the selection of Price
Waterhouse LLP to act as independent accountants for the Fund for the fiscal
year ending October 31, 1998, subject to stockholder approval. The Fund knows of
no direct financial interest or material indirect financial interest of that
firm in the Fund. One or more representatives of Price Waterhouse LLP are
expected to be present at the Annual Meeting and will have an opportunity to
make a statement if they so desire. Such representatives are expected to be
available to respond to appropriate questions from stockholders.
This selection of independent accountants is subject to the ratification or
rejection of the Fund's stockholders at the meeting. Ratification of the
selection of the independent accountants will require the affirmative vote of a
majority of the votes cast at the meeting. For this purpose, abstentions and
broker non-votes will not be counted as votes cast at the meeting.
6
<PAGE>
MISCELLANEOUS
Proxies will be solicited by mail and may be solicited in person or by
telephone or telegraph by officers of the Fund or personnel of DSTC. The Fund
has retained Corporate Investor Communications, Inc. to assist in the proxy
solicitation. The fee for such services is estimated at U.S. $3,500, plus
reimbursement of expenses. The expenses connected with the solicitation of these
proxies and with any further proxies which may be solicited by the Fund's
officers or agents in person, by telephone or by telegraph will be borne by the
Fund. The Fund will reimburse banks, brokers, and other persons holding the
Fund's shares registered in their names or in the names of their nominees for
their expenses incurred in sending proxy material to and obtaining proxies from
the beneficial owners of such shares.
It is important that you promptly submit your vote as a stockholder of the
Fund. In the event that sufficient votes in favor of any proposal set forth in
the Notice of this meeting are not received by June 4, 1998, the persons named
as attorneys in the enclosed proxy may propose one or more adjournments of the
meeting to permit further solicitation of proxies. Any such adjournment will
require the affirmative vote of the holders of a majority of the shares present
in person or by proxy at the session of the meeting to be adjourned. The persons
named as attorneys in the enclosed proxy will vote in favor of such adjournment
those proxies which they are entitled to vote in favor of the proposal for which
further solicitation of proxies is to be made. They will vote against any such
adjournment those proxies required to be voted against such proposal. The costs
of any such additional solicitation and of any adjourned session will be borne
by the Fund.
STOCKHOLDER PROPOSALS
Any proposal by a stockholder of the Fund intended to be included in the
proxy materials for the 1999 meeting of stockholders of the Fund must be
received by the Fund, c/o Daiwa Securities Trust Company, One Evertrust Plaza,
9th Floor, Jersey City, New Jersey 07302, not later than December 10, 1998.
The Fund's By-laws require that any proposal by a stockholder of the Fund
intended to be presented at a meeting of stockholders must be received by the
Fund, c/o Daiwa Securities Trust Company, One Evertrust Plaza, 9th Floor, Jersey
City, New Jersey 07302, not earlier than 90 days prior and not later than 60
days prior to such meeting of stockholders.
By order of the Board of Directors,
Lawrence Jacob
SECRETARY
One Evertrust Plaza
Jersey City, New Jersey 07302
April 13, 1998
7
<PAGE>
SKU# SGFCM-PS-98
<PAGE>
THE SINGAPORE FUND, INC.
C/O DAIWA SECURITIES TRUST COMPANY
ONE EVERTRUST PLAZA, JERSEY CITY, NEW JERSEY 07802
PROXY SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS FOR THE
ANNUAL MEETING OF STOCKHOLDERS ON JUNE 4, 1998
The undersigned stockholder of The Singapore Fund, Inc. (the "Fund")
hereby appoints Daniel F. Barry, Lawrence Jacob and Edward J. Grace, or any
of them, proxies of the undersigned, with full power of substitution, to vote
and act for and in the name and stead of the undersigned at the Annual
Meeting of Stockholders of the Fund to be held at the offices of Daiwa
Securities America Inc., Financial Square, 32 Old Slip, 14th Floor, New York,
New York 10005, on June 4, 1998 at 9:30 a.m., New York time, and at any and
all adjournments thereof, according to the number of votes the undersigned
would be entitled to cast if personally present.
The shares represented by this proxy will be voted in accordance with
instructions given by the undersigned stockholder, but if no instructions are
given, this proxy will be voted in favor of proposals 1 and 2 as set forth in
this proxy and, in the discretion of such proxies, upon such other business as
may properly come before the meeting or any adjournments thereof. The
undersigned hereby revokes any and all proxies heretofore given by the
undersigned with respect to such shares. The undersigned acknowledges receipt
of the Proxy Statement dated April 13, 1998.
--------------------------------------------------------------------------
PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY CARD PROMPTLY USING
THE ENCLOSED POSTAGE-PAID ENVELOPE.
--------------------------------------------------------------------------
Please sign exactly as your name(s) appear(s) on the books of the Fund. Joint
owners should each sign. Trustees and other fiduciaries should indicate the
capacity in which they sign, and where more than one name appears, a majority
must sign. If a corporation, the signature should be that of an authorized
officer who should indicate his or her title.
- -----------------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
- ------------------------------------- -------------------------------------
- ------------------------------------- -------------------------------------
- ------------------------------------- -------------------------------------
THE SINGAPORE FUND, INC.
C/O DAIWA SECURITIES TRUST COMPANY
ONE EVERTRUST PLAZA, JERSEY CITY, NEW JERSEY 07802
PROXY SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS FOR THE
ANNUAL MEETING OF STOCKHOLDERS ON JUNE 4, 1998
The undersigned stockholder of The Singapore Fund, Inc. (the "Fund")
hereby appoints Daniel F. Barry, Lawrence Jacob and Edward J. Grace, or any
of them, proxies of the undersigned, with full power of substitution, to vote
and act for and in the name and stead of the undersigned at the Annual
Meeting of Stockholders of the Fund to be held at the offices of Daiwa
Securities America Inc., Financial Square, 32 Old Slip, 14th Floor, New York,
New York 10005, on June 4, 1998 at 9:30 a.m., New York time, and at any and
all adjournments thereof, according to the number of votes the undersigned
would be entitled to cast if personally present.
The shares represented by this proxy will be voted in accordance with
instructions given by the undersigned stockholder, but if no instructions are
given, this proxy will be voted in favor of proposals 1 and 2 as set forth in
this proxy and, in the discretion of such proxies, upon such other business as
may properly come before the meeting or any adjournments thereof. The
undersigned hereby revokes any and all proxies heretofore given by the
undersigned with respect to such shares. The undersigned acknowledges receipt
of the Proxy Statement dated April 13, 1998.
--------------------------------------------------------------------------
PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY CARD PROMPTLY USING
THE ENCLOSED POSTAGE-PAID ENVELOPE.
--------------------------------------------------------------------------
Please sign exactly as your name(s) appear(s) on the books of the Fund. Joint
owners should each sign. Trustees and other fiduciaries should indicate the
capacity in which they sign, and where more than one name appears, a majority
must sign. If a corporation, the signature should be that of an authorized
officer who should indicate his or her title.
- -----------------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
- ------------------------------------- -------------------------------------
- ------------------------------------- -------------------------------------
- ------------------------------------- -------------------------------------
<PAGE>
PLEASE MARK VOTES
/X/ AS IN THIS EXAMPLE
1. Election of two Class I directors to
- ------------------------- serve for a term expiring on the date on
THE SINGAPORE FUND INC. which the Annual Meeting of Stockholders
- ------------------------- is held in the year 2001, and the election
of one Class II director to serve for a term
expiring on the date on which the Annual
Meeting of Stockholders is held in the year
1999.
Mark box at right if an
address change or / /
comment has been noted
on the reverse side of
this card.
With- For All
Class I: For hold Except
David G. Harmer
Oren G. Shaffer / / / / / /
Class II:
Ronnie Teo
Heng Hock
NOTE: If you do not wish your shares voted
"For" a particular nominee, mark the "For
All Except" box and strike a line through
the name of the nominee in the list above.
For Against Abstain
2. The ratification of
the selection of Price / / / / / /
Waterhouse LLP as
independent accountants
of the Fund for its
fiscal year ending
December 31, 1998.
Please be sure to sign and
date this Proxy. Date -----------
RECORD DATE SHARES:
- -- Stockholder sign here -------- Co-owner sign here -------------
PLEASE MARK VOTES
/X/ AS IN THIS EXAMPLE
1. Election of two Class I directors to
- ------------------------- serve for a term expiring on the date on
THE SINGAPORE FUND INC. which the Annual Meeting of Stockholders
- ------------------------- is held in the year 2001, and the election
of one Class II director to serve for a term
expiring on the date on which the Annual
Meeting of Stockholders is held in the year
1999.
Mark box at right if an
address change or / /
comment has been noted
on the reverse side of
this card.
With- For All
Class I: For hold Except
David G. Harmer
Oren G. Shaffer / / / / / /
Class II:
Ronnie Teo
Heng Hock
NOTE: If you do not wish your shares voted
"For" a particular nominee, mark the "For
All Except" box and strike a line through
the name of the nominee in the list above.
For Against Abstain
2. The ratification of
the selection of Price / / / / / /
Waterhouse LLP as
independent accountants
of the Fund for its
fiscal year ending
December 31, 1998.
Please be sure to sign and
date this Proxy. Date -----------
RECORD DATE SHARES:
- -- Stockholder sign here -------- Co-owner sign here -------------
