UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

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FORM N-CSR
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CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES

INVESTMENT COMPANY ACT FILE NUMBER 811-06115

THE SINGAPORE FUND, INC.

(Exact name of registrant as specified in charter)

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c/o Daiwa Securities Trust Company
One Evertrust Plaza, 9th Floor
Jersey City, New Jersey 07302-3051

(Address of principal executive offices) (Zip code)

c/o Daiwa Securities Trust Company
One Evertrust Plaza, 9th Floor
Jersey City, New Jersey 07302-3051

(Name and address of agent for service)

REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (201) 915-
3054

DATE OF FISCAL YEAR END: October 31, 2003

DATE OF REPORTING PERIOD: October 31, 2003

Form N-CSR is to be used by management investment companies to
file reports with the Commission not later than 10 days after
the transmission to stockholders of any report that is
required to be transmitted to stockholders under Rule 30e-1
under the Investment Company Act of 1940 (17 CFR 270.30e-1).
The Commission may use the information provided on Form N-CSR
in its regulatory, disclosure review, inspection, and
policymaking roles. A registrant is required to disclose the
information specified by Form N-CSR, and the Commission will
make this information public. A registrant is not required to
respond to the collection of information contained in Form N-
CSR 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
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.