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AL MAZAYA HOLDING COMPANY K.S.C. (CLOSED) AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2007
(All amounts are in Kuwaiti Dinars)
2007
2006
Cash flows from financing activities:
Term loans received
52,084,329
3,500,000
Paid up capital
4,307,909
Share premium received
10,769,771
Paid for purchase of treasury shares
(4,737,086)
(6,057,220)
Cash dividends paid
(13,711,272)
(3,127,768)
Finance charges paid
(2,061,206)
(751,713)
Wakala and Murabaha received
2,199,068
Proceeds from sale of treasury shares
10,122,697
1,809,552
Movement in equity of a subsidiary
68,900
Net cash generated from financing activities
43,965,430
10,450,531
Net increase in cash and cash equivalents
13,866,916
12,406,021
Net cash relating to newly consolidated subsidiary
460,283
Net cash relating to partial sale of a subsidiary
(29,362)
Foreign currency translation adjustment
(2,433,513)
Cash and cash equivalents at the beginning of the year
16,096,502
3,230,198
Cash and cash equivalents at the end of the year (Note 3)
27,500,543
16,096,502
The accompanying notes (1) to (37) form an integral part of the consolidated financial statements.
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