NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2000
46
Note Consolidated Company
2000 1999 2000 1999
$$ $$
11. INVESTMENTS
At cost:
Unlisted investment - shares 
controlled in entities –– 2,444,611 2,444,611
Country of Ownership Ownership
Incorporation Interest 2000 Interest 1999
%%
Parent Entity
Mermaid Marine Australia Limited Australia
Controlled Entities
Mermaid Marine Group Pty Ltd* Australia 100 100
Mermaid Marine Vessel Operations Pty Ltd* Australia 100 100
Mermaid Marine Pty Ltd* Australia 100 100
Mermaid Marine Offshore Pty Ltd* Australia 100 100
Mermaid Marine Charters Pty Ltd* Australia 100 100
Mermaid Supply Base Pty Ltd* Australia 100 100
Dampier Stevedoring Pty Ltd* Australia 100 100
Mermaid Manning and Management Pty Ltd* Australia 100 100
* Pursuant to ASIC Class Order 98/1418, relief has been granted to these wholly owned controlled
entities from the Corporations Law requirements for preparation, audit and lodgement of the financial
report. As a condition of the Class Order, Mermaid Marine Australia Limited and the controlled
entities entered into a Deed of Cross Guarantee on 24 June 1999.
Note Consolidated Company
2000 1999 2000 1999
$$ $$
12. OTHER NON CURRENT ASSETS
Future income tax benefit 
- timing differences 664,722 318,202 ––
13. INTANGIBLES
Goodwill arising on consolidation – 95,105 ––
Write off of goodwill – (95,105) ––
––––
14. ACCOUNTS PAYABLE
Trade payables 1,844,206 1,079,327 – 55,590
Other payables and accruals 519,300 534,897 – 42,785
2,363,506 1,614,224 – 98,375