SAILING THE SEAS OF SUCCESS - Swissco Holdings Limited

NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2004
13. Other current assets
The Group
The Company
2004 2003 2004
$ $ $
Prepayments 201,669 153,776 24,493
Other deposits 5,771 22,750 231
207,440 176,526 24,724
The carrying amounts of the above other current assets approximate their fair value.
14. Investments in subsidiaries
The Company
2004
$
Unquoted equity shares, at cost 7,685,782
Details of the subsidiaries are as follows:
Name of subsidiaries held
by the Company
Principal business
Country of
incorporation/
place of
business
Issued and
paid-up
capital
Effective
percentage of
equity held by
the Company
%
Swissco Offshore (Pte) Ltd
(a)
Singapore Marine Logistics
Pte Ltd (a)
Name of subsidiaries
held by subsidiaries
Operator of offshore
support vessels, ship
chartering, provision of
marine logistics services
and related business
Ship repair and
maintenance and related
services
Singapore $1,000,000 100
Singapore $500,000 100
Swissco Offshore Ltd (b)
Holding the Seychellesflagged
vessels on trust for
Swissco Offshore
Republic of
Seychelles
US$5,000 100
Regional Marine Supply
Private Limited (c)
Trading of marine
equipment, spare parts and
shore supplies
Singapore $50,000 99.998
(a) Audited by PricewaterhouseCoopers, Singapore
(b) Not required to be audited under the law of the country of incorporation
(c) Audited by R Chan & Co, Singapore
SWISSCO INTERNATIONAL LIMITED_40