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AL MAlAYA HOLDING COMPANY KS.C. (CLOSED) AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2007
(All amounts are in Kuwaiti Dinars)
11.
Fixed assets
Furniture
Computers
and
Leasehold
and
Motor
eguipments
improvements
software
vehicles
Total
Cost
At December 31,2006
231,570
69,236
51,381
352,187
Additions
80,791
290,188
271,057
15,924
657,960
At December 31, 2007
312,361
290,188
340,293
67,305
1,010,147
Accumulated depreciation
At December 31, 2006
33,156
32,596
12,054
77,806
Charge for the year
18,490
96,729
44,540
8,426
168,185
At December 31, 2007
51,646
96,729
77,136
20,480
245,991
Net book value
At December 31,2007
260,715
193,459
263,157
46,825
764,156
At December 31, 2006
198,414
36,640
39,327
274,381
12.
Leasehold right
Leasehold right represents a land leased from a Bahraini Company through a subsidiary. The leasehold
right value will be amortized over 25 years which represents the lease period, effective on April11, 2007,
the date of the contract.
13.
Accounts payable and other credit balances
2007
2006
Trade payable
29,085,787
8,442,293
Advances received from customers
9,712,251
12,165,477
Amount due to related parties (Note 30)
4,336,830
6,156,006
Dividend payable
672,718
605,209
Other payables and accrued expenses
4,029,238
2,916,642
47,836,824
30,285,627
25