Exhibit 10 (c)

ITEM 7.  PROXY VOTING PROCEDURES

The registrant has delegated to its investment manager the
voting of proxies relating to the registrant's portfolio
securities. The policies and procedures used by the
investment manager to determine how to vote proxies relating
to the registrant's portfolio securities, including the
procedures used when a vote presents a conflict of interest
involving the investment manager, are contained in the
investment manager's Proxy Voting Guidelines, which are
attached hereto as Exhibit 10 (d).

The Singapore Fund, Inc.
Proxy Voting Policy and Procedures


The Board of Directors of The Singapore Fund, Inc. (the
"Fund") hereby adopts the following policy and procedures
with respect to voting proxies relating to Fund securities
managed by DBS Asset Management. (the "Investment Manager").

I.	Policy

It is the policy of the Board of Directors of the Fund (the
"Board") to delegate the responsibility for voting proxies
relating to securities held by the Fund to the Investment
Manager as part of the Investment Manager's general management
of the Fund's assets, subject to the Board's continuing
oversight.  The Board of Directors of the Fund hereby
delegates such responsibility to the Investment Manager, and
directs the Investment Manager to vote proxies relating to
Fund portfolio securities managed by the Investment Manager
consistent with the duties and procedures set forth below.
The Investment Manager may retain one or more vendors to
review, monitor and recommend how to vote proxies in a manner
consistent with the duties and procedures set forth below, to
ensure such proxies are voted on a timely basis and to provide
reporting and/or record retention services in connection with
proxy voting for the Fund.

II.	Fiduciary Duty

The right to vote a proxy with respect to securities held by
the Fund is an asset of the Fund.  The Investment Manager, to
which authority to vote on behalf of the Fund is delegated,
acts as a fiduciary of the Fund and must vote proxies in a
manner consistent with the best interest of the Fund and its
shareholders.  In discharging this fiduciary duty, the
Investment Manager must maintain and adhere to its policies
and procedures for addressing conflicts of interest and must
vote in a manner substantially consistent with its policies,
procedures and guidelines, as presented to the Board.

III.	Procedures

The following are the procedures adopted by the Board for the
administration of this policy.

	A.  Review of Investment Manager's Proxy Voting
Procedures.  The Investment Manager shall present to the
Board their policies, procedures and other guidelines for
voting proxies at least annually, and must notify the
Board promptly of material changes to any of these
documents, including changes to policies addressing
conflicts of interest.

	B.  Voting Record Reporting.  The Investment Manager
shall provide the voting record information necessary for
the completion and filing of Form N-PX to the Fund at
least annually.  Such voting record information shall be
in a form acceptable to the Fund and shall be provided at
such time(s) as are required for the timely filing of
Form N-PX and at such additional time(s) as the Fund and
the Investment Manager may agree from time to time.  With
respect to those proxies that the Investment Manager has
identified as involving a conflict of interest , the
Investment Manager shall submit a separate report
indicating the nature of the conflict of interest and how
that conflict was resolved with respect to the voting of
the proxy.

	C.  Record Retention.  The Investment Manager shall
maintain such records with respect to the voting of
proxies as may be required by the Investment Advisers Act
of 1940 and the rules promulgated thereunder or by the
Investment Company Act of 1940 and the rules promulgated
thereunder.

	D.  Conflicts of Interest.  Any actual or potential
conflicts of interest between the Investment Manager and
the Fund's shareholders arising from the proxy voting
process will be addressed by the Investment Manager and
the Investment Manager's application of its proxy voting
procedures pursuant to the delegation of proxy voting
responsibilities to the Investment Manager.  In the event
that the Investment Manager notifies the officer(s) of
the Fund that a conflict of interest cannot be resolved
under the Investment Manager's Proxy Voting Procedures,
such officer(s) are responsible for notifying the
Chairman of the Board of the Fund of the irreconcilable
conflict of interest and assisting the Chairman with any
actions he determines are necessary.

IV.	Revocation

The delegation by the Board of the authority to vote proxies
relating to securities of the Fund is entirely voluntary and
may be revoked by the Board, in whole or in part, at any time.

V.	Annual Filing

The Fund shall file an annual report of each proxy voted with
respect to securities of the Fund during the twelve-month
period ended June 30 on Form N-PX not later than August 31 of
each year.

VI.	Disclosures

	A.	The Fund shall include in its annual report filed on
Form N-CSR:

	1.  a description of this policy and of the policies
and procedures used by the Fund and the Investment
Manager to determine how to vote proxies relating to
portfolio securities or copies of such policies and
procedures; and

	2.  a statement disclosing that a description of the
policies and procedures used by or on behalf of the
Fund to determine how to vote proxies relating to
securities of the Fund is available without charge,
upon request, by calling the Fund's toll-free
telephone number; through a specified Internet
address, if applicable; and on the SEC's website;
and

	3.  a statement disclosing that information
regarding how the Fund voted proxies relating to
Fund securities during the most recent 12-month
period ended June 30 is available without charge,
upon request, by calling the Fund's toll-free
telephone number; or through a specified Internet
address; or both; and on the SEC's website.

VII.	Review of Policy

The Board shall review from time to time this policy to
determine its sufficiency and shall make and approve any
changes that it deems necessary from time to time.


Adopted:


Exhibit 10 (d)


Proxy voting policy for DBS Asset Management (United Stated)
Pte. Ltd.

Statement of Policies and Procedures for
Voting Proxies

INTRODUCTION
As a registered investment adviser, DBS Asset Management
(United Stated) Pte. Ltd. ("DBSAM," "we" or "us") has a
fiduciary duty to act solely in the best interests of our
clients.  As part of this duty, we recognize that we must
exercise voting rights in the best interests of our clients.
DBSAM recognizes the importance of good corporate
governance in ensuring that management and boards of directors
fulfill their obligations to shareholders.  As part of our
investment process, we take into account the attitudes of
management and boards of directors on corporate governance
issues when deciding whether to invest in a company.
DBSAM is a global investment manager, and invests
significantly in emerging markets.  It should be noted that
protection for shareholders may vary significantly from
jurisdiction to jurisdiction, and in some cases may be
substantially less than in the U.S. or developed countries.
This statement is intended to comply with Rule 206(4)-6
of the Investment Advisers Act of 1940.  It sets forth the
policy and procedures of DBSAM for voting proxies for our
clients, including investment companies registered under the
Investment Company Act of 1940.
PROXY VOTING POLICIES
It is the general policy of DBSAM to support management
of the companies in which it invests and will cast votes in
accordance with management's proposals.  However, DBSAM
reserves the right to depart from this policy in order to
avoid voting decisions that we believe may be contrary to our
clients' best interests.
Elections of Directors:  In many instances, election of
directors is a routine voting issue.  Unless there is a proxy
fight for seats on the Board or we determine that there are
other compelling reasons for withholding votes for directors,
we will vote in favor of the management proposed slate of
directors.  That said, we believe that directors have a duty
to respond to shareholder actions that have received
significant shareholder support.  We may withhold votes for
directors that fail to act on key issues such as failure to
implement proposals to declassify boards, failure to implement
a majority vote requirement, failure to submit a rights plan
to a shareholder vote and failure to act on tender offers
where a majority of shareholders have tendered their shares.
Appointment of Auditors:  The selection of an independent
accountant to audit a company's financial statements is
generally a routine business matter.  DBSAM believes that
management remains in the best position to choose the
accounting firm and will generally support management's
recommendation.
Changes in Capital Structure:  Changes in a company's
charter, articles of incorporation or by-laws are often
technical and administrative in nature.  Absent a compelling
reason to the contrary, DBSAM will cast its votes in
accordance with the company's management on such proposals.
However, we will review and analyze on a case-by-case basis
any non-routine proposals that are likely to affect the
structure and operation of the company or have a material
economic effect on the company.
Corporate Restructurings,  Mergers and Acquisitions:
DBSAM believes proxy votes dealing with corporate
reorganizations are an extension of the investment decision
and will take account of our investment process policy in
deciding how to vote.
Corporate Governance:  DBSAM recognizes the importance of
good corporate governance in ensuring that management and the
board of directors fulfill their obligations to the
shareholders.  We generally favor proposals promoting
transparency and accountability within a company.
Social and Corporate Responsibility:  DBSAM recognizes
the importance of supporting sound and responsible policies in
relation to social, political and environmental issues.
However, in the interests of shareholders, we reserve the
right to vote against proposals that are unduly burdensome or
result in unnecessary and excessive costs to the company.  We
may abstain from voting on social proposals that do not have a
readily determinable financial impact on shareholder value.
Executive Compensation:  DBSAM believes that company
management and the compensation committee of the board of
directors should, within reason, be given latitude to
determine the types and mix of compensation and benefit awards
offered.  Whether proposed by a shareholder or management, we
will review proposals relating to executive compensation plans
and, if deemed excessive, may vote against the proposals.
PROXY VOTING PROCEDURES
Proxy voting
Our portfolio management team is responsible for the
coordination of DBSAM's proxy voting.  They liaise with the
Product managers and/or the Proxy voting committee to
ascertain how DBSAM will vote.  They will then instruct the
relevant Custodians.  The portfolio management team is also
responsible for ensuring that full and adequate records of
proxy voting are kept.
The Product managers will implement the Proxy voting
policies by instructing proxy voting in accordance with the
general principles contained herein.
Proxy Voting Committee
We have formed a Proxy Voting Committee to regularly
review our general proxy policies and consider specific proxy
voting matters as and when deemed necessary.  Members of the
committees include senior investment personnel and
representatives of Legal, Compliance and Risk Management
Departments.  The committee may also evaluate proxies where we
face a material conflict of interest (as discussed below).
Conflicts of Interest
DBSAM recognizes that there is a potential conflict of
interest when we vote a proxy solicited by an issuer with whom
we have any material business or personal relationship that
may affect how we vote on the issuer's proxy.  We believe that
oversight by the Proxy Voting Committee ensures that proxies
are voted with only our clients' best interests in mind.  In
order to avoid any perceived conflict of interests, the
following procedures have been established for use when we
encounter a potential conflict.
	The portfolio management team will refer to Legal and
Compliance Departments any proxy votes that are issued by
existing clients or where DBSAM holds a significant voting
percentage of the company.  The Legal and Compliance
Departments will make the initial determination about whether
a material conflict of interest exists based on the facts and
circumstances of each particular situation.
If our proposed vote is consistent with our stated proxy
voting policy, no further review is necessary.
If our proposed vote is contrary to our stated proxy
voting policy but is also contrary to management's
recommendation, no further review is necessary.
If our proposed vote is contrary to our stated proxy
voting policy and is consistent with management's
recommendation, the proposal is escalated to the
proxy committee for final review and determination.
Proxies of Certain Non-U.S. Issuers
Proxy voting in certain countries requires "share
blocking."  That is, shareholders wishing to vote their
proxies must deposit their shares shortly before the date of
the meeting (usually one-week) with a designated depositary.
During this blocking period, shares that will be voted at the
meeting cannot be sold until the meeting has taken place and
the shares are returned to the clients' custodian banks.
DBSAM may determine that the value of exercising the vote does
not outweigh the detriment of not being able to transact in
the shares during this period.  Accordingly, if share blocking
is required we may abstain from voting those shares.  In such
a situation we would have determined that the cost of voting
exceeds the expected benefit to the client.
PROXY VOTING RECORD
Clients may obtain information on how DBSAM voted with
respect to their proxies by contacting our Client services
team at DBS Asset Management (United Stated) Pte. Ltd., 8
Cross St. #27-01, PWC Building, Singapore 048424, Tel No. 65-
68787811, Fax No. 65-65345183 or email dbsasset@dbs.com.


   As it is used in this document, the term "conflict of interest"
refers to a situation in which the Investment Manager or affiliated
persons of the Investment Manager have a financial interest in a
matter presented by a proxy other than the obligation they incur as
Investment Manager to the Fund which could potentially compromise
the Investment Manager's independence of judgment and action with
respect to the voting of the proxy.

    The Fund must file its first report on Form N-PX not later than
August 31, 2004, for the twelve-month period beginning July 1, 2003,
and ending June 30, 2004.


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NYA 647653.2