UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 2)
DESWELL INDUSTRIES, INC
(Name of Issuer)
Common Shares, $0.01 par value
(Title of Class of Securities)
250639 10 1
(CUSIP Number)
Mr. Joseph Li
c/o Nam Tai Group Management Ltd.
15/F., China Merchants Tower
Shun Tak Centre
168-200 Connaught Road Central, Hong Kong
Telephone: (852) 2341-0273
Fax: (852) 2341-4164
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
------------------------
with copy to:
Mr. Lorne Waldman, ESQ.
Pan Pacific I.R. Ltd.
1790 - 999 West Hastings St.
Vancouver, British Columbia V6C 2W2 Canada
Telephone: (604) 669-7800
Fax: (604) 669-7816
March 7, 2002
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|.
Check the following box if a fee is being paid with the statement |_|.
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1. NAME OF REPORTING PERSON - Nam Tai Electronics, Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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2. CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP
(a)|_|
(b)|_|
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
N/A
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
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6. CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands
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NUMBER OF 7. SOLE VOTING POWER: 245,000
SHARES -------- ----------------------------------------
BENEFICIALLY 8. SHARES VOTING POWER : N/A
OWNED BY -------- ----------------------------------------
EACH 9. SOLE DISPOSITIVE POWER: 245,000
REPORTING -------- ----------------------------------------
PERSON 10. SHARES DISPOSITIVE POWER: N/A
WITH
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
245,000
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|_|
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.4%
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14. TYPE OF REPORTING PERSON
CO
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Item 1. Security and Issuer
This statement relates to the Common Shares, $0.01 par value, of
Deswell Industries, Inc., an International Business Company organized under the
laws of the British Virgin Islands (the "Company"). The principal executive
offices of the Company are: Unit 516-517, Hong Leong Industrial Complex, # 4
Wang Kwong Road, Kowloon Bay, Kowloon, Hong Kong.
Item 2. Identity and Background
Nam Tai Electronics, Inc. (which together with its wholly owned
subsidiaries is hereafter referred to as "Nam Tai") was incorporated as a
limited liability International Business Company under the laws of the British
Virgin Islands in August 1987. Nam Tai's corporate administrative matters are
conducted in the British Virgin Islands through its registered agent, McW.
Todman & Co., McNamara Chambers, P.O. Box 3342, Road Town, Tortola, British
Virgin Islands. Nam Tai's principal executive offices are located in the Hong
Kong Special Administrative Region ("Hong Kong"), of the People's Republic of
China ("China"). Its address is 15/F., China Merchants Tower, Shun Tak Centre,
168-200 Connaught Road Central, Hong Kong. Nam Tai provides design and
manufacturing services to original equipment manufacturers ("OEMs") of consumer
electronic products.
During the past five years Nam Tai has not been convicted in a criminal
proceeding and has not been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction, as a result of which it is
subject to a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities laws
of finding any violation with respect to such laws.
Item 3. Source and the Amount of Funds or Other Consideration.
Not Applicable.
Item 4. Purpose of the Transaction.
The purpose of the transaction is to increase working capital and
realize a profit upon the sale of the Common Shares. Nam Tai may in the future
purchase or sell Common Shares in the open market for investment purposes. Nam
Tai has no plans or proposals that relate to or would result in the matters
identified in Item 4(a) through (j) of Schedule 13D except as previously filed.
Item 5. Interest in Securities of the Issuer
(a) At March 8, 2002, as a result of the sale of 75,000 Common Shares, Nam
Tai Electronics, Inc. beneficially owns 245,000 of the Common Shares
outstanding. The percentage ownership was calculated in accordance with
Rule 13d(1)(i) under the Securities Exchange Act of 1934 and based on
5,601,000 weighted average Common Shares outstanding for the third
quarter ended December 31, 2001.
(b) Nam Tai Electronics, Inc. has exclusive investment voting and
investment power over the Common Shares referred to in paragraph (a).
(c) The following table sets forth details of the open market sales of the
Company's Common Shares (all of which were made through UBS PaineWebber
Incorporated) made by Nam Tai Electronics, Inc. during the last sixty
days.
Trade Date Number of Shares Sales Price ($) Proceeds ($)
Sold (#)
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February 1, 2002 20,000 20.000005 $398,789.59
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February 5, 2002 4,800 20.000000 $95,706.06
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February 14, 2002 4,000 20.000000 $79,754.30
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February 20, 2002 40,000 20.017500 $798,282.73
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February 21, 2002 61,200 20.045487 $1,223,088.14
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February 22, 2002 50,000 20.015000 $997,729.73
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March 5, 2002 15,000 20.093333 $300,490.22
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March 6, 2002 25,000 20.110000 $501,237.20
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March 7, 2002 35,000 20.380000 $711,184.05
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March 8, 2002 15,000 20.416670 $305,340.16
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TOTAL 255,000 $5,411,602.18
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Item 6. Contracts, Arrangements, Understandings or Relations With Respect to
Securities of the Issuer.
Previously reported.
Item 7. Material to Be Filed As Exhibits.
Not Applicable
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
NAM TAI ELECTRONICS, INC.
By: /s/ JOSEPH LI
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JOSEPH LI
CHIEF FINANCIAL OFFICER
Date: March 11, 2002