Notes to The Consolidated Financial Statements
AL MAZAYA HOLDING K.S.C. (HOLDING) AND ITS SUBSIDIARIES
For the year ended 31 December 2011
48
Credit risk management
Exposure to credit risk
The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at
the end of the reporting period was:
23,542,732
18,412,155
-
41,954,887
20,483,961
6,451,465
2,609,309
29,544,735
28,180,304
12,430,137
3,223,456
43,833,897
2011
KD
2010
KD
2009
KD
Bank balances
Trade receivables
Murabaha receivables
The Group does not hold any collateral over its assets exposed to credit risk.
The maximum exposure to credit risk for financial assets at the end of the reporting period by geographic region was:
13,970,502
27,984,385
41,954,887
14,677,260
14,867,475
29,544,735
22,360,353
21,473,544
43,833,897
2011
KD
2010
KD
2009
KD
Inside Kuwait
Outside Kuwait
The fair values of accounts receivable and other debit balances approximated their carrying values as at 31 December
2011.
Trade receivable that are past due for less than 6 months are not considered impaired. As of 31 December trade receivable
amounting to KD 7,074,144 (2010: KD 127,655) were neither past due nor impaired. These relate to a number of
independent customers for whom there is no recent history of default.
Ageing of receivables past due but not impaired
11,338,011
6,323,810
29,125,553
2011
KD
2010
KD
2009
KD
3 to 6 months
The Group does not hold any collateral over these receivables.
Allowance for doubtful debts
959,454
9,647,663
)157,440(
10,449,677
800,889
158,564
)99(
959,454
-
800,889
-
800,889
Balance at beginning of the year
Charge for the year
Written off
Balance at end of the year
2011
KD
2010
KD
2009
KD
