Notes to The Consolidated Financial Statements
AL MAZAYA HOLDING K.S.C. (HOLDING) AND ITS SUBSIDIARIES
For the year ended 31 December 2011
38
11. INVESTMENT IN JOINT VENTURES
During the year, the Group disposed of its interest in a joint venture. The Group’s share of net assets disposed of amounted
to KD 7,411,727 against a sale consideration of KD 7,393,666 resulting in a loss on disposal amounting to KD 18,061. Of
the total consideration, KD 1,474,830 is deferred and is due within one year.
49.99
48
50
2,018,887
1,203,030
-
3,221,917
4,270,700
(628,014)
7,411,727
11,054,413
4,534,859
(58,168)
7,260,976
11,737,667
11,054,413
-
(284,018)
(7,411,727)
(136,751)
3,221,917
11,737,667
-
(177,737)
-
(505,517)
11,054,413
11,681,17
215,133
(226,592)
-
67,956
11,737,667
7,831,654
(3,793,073)
4,038,581
2,018,887
706,530
(4,408,041)
(2,203,580)
17,694,688
(15,188,375)
2,506,313
1,203,030
21,232,601
3,999,087
1,919,562
-
-
-
-
-
-
-
2011
Country of
incorporation
Ownership
Percentage%
UAE
UAE
Kuwait
Al Madar Gulf Limited
Al Wahda Real Estate Investment Limited
Seven Zones
Al Madar Gulf Limited
Al Wahda Real Estate Investment Limited
Seven Zones
Balance at the beginning of the year
Additions
Group’s share of results for the year
Disposal
Foreign currency translation adjustments
Balance at the end of the year
Assets
Liabilities
Net assets
Group’s share of net assets
Revenue
(Loss)/profit for the year
Group’s share of results
Al Madar
Gulf Limited
KD
Al Wahda Real Estate
Investment Limited
KD
Seven Zones
KD
2011
KD
2010 (Restated)
KD
2009 (Restated)
KD
2011
KD
2010 (Restated)
KD
2009 (Restated)
KD
