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AL MAZAYA HOLDING COMPANY K.S.C. (CLOSED) AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2007
(All amounts are in Kuwaiti Dinars)
14.
Term loans
Maturitï
Current
Bank loan bearing interest rate at 8.5% per
annum
Aug ust 31, 2008
Bank loan bearing interest rate at 8.25% per
annum
January 30, 2008
Bank loan bearing interest rate at 1% per annum
over the Central Bank of Kuwait discount rate
October 21,2008
Bank loan bearing interest rate at 2% per annum
over the Central Bank of Kuwait discount rate
Apri110,2008
Bank loan bearing interest rate at 2% per annum
over the Central Bank of Kuwait discount rate
April 20, 2008
Bank loan bearing interest rate at 2% per annum
over the Central Bank of Kuwait discount rate
February 28, 2007
Bank loan bearing interest rate at 1.5% per
annum over the Central Bank of Kuwait discount
rate
February 14, 2007
Non current
Bank loan bearing interest rate at 7.02% per
annum
June 30, 2009
2007
2006
5,000,000
5,000,000
10,000,000
18,870,000
11,455,500
830,000
2,000,000
50,325,500
2,830,000
4,428,829
4,428,829
54,754,329
2,830,000
The Group has pledged certain investments at fair value through income statement amounting to KD
9,122,500 and properties under development amounting to KD 39,790,061 as of the balance sheet date,
as collateral against the term loan (Notes 4,8).
15.
Wakala and Murabaha payables
2007
2006
Wakala payables
Murabaha payable
8,000,000
7,039,068
3,000,000
10,039,068
8,000,000
Average cost rate attributable to Wakala payables during the year ended December 31, 2007 was 7.5%
(2006 - 7.25%) per annum.
Average cost rate attributable to Murabaha payable during the year ended December 31, 2007 was
9.25% (2006 - Nil) per annum.
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