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AL MAlAYA HOLDING COMPANY
K.S.C.
(CLOSED) AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
JUNE
30,
2008
(All amounts are in Kuwaiti Dinars)
4,
Accounts receivable and other debit balances
June
30,
2008
Trade receivables
Advance payments
Due from related parties
Other receivables
25,722,271
8,038,382
1,763,007
7,305,101
42,828,761
December
31,
2007
(Audited)
25,060,707
9,450,941
7,770,607
985,747
43,268,002
June
3D,
2007
27,506,227
4,161,834
1,706,628
383,863
33,758,552
Other receivables include an amount of KD
4,163,301
resulting from sale of certain investments at fair value
through income statement.
5,
Properties held for trading
June
30,
2008
Additions
20,122,725
Transfer from investment properties
13,691,788
Transfer from properties under development
218,839
Disposals
(18,188,717)
Foreign currency translation adjustments
{236,011}
Balance at the end of the period
15,608,624
6,
Investment in joint ventures
December
31,
June
30,
2007
June
30,
2008
{Audited}
2007
Balance at the beginning of the period / year
7,016,428
1
1
Additions
7,437,414
3,726,877
3,929,649
Group's share of results from joint ventures
1,042,178
3,398,690
1,819,219
Foreign currency translation adjustments
{225,319}
(109,140)
(11,378)
Balance at the end of the period / year
15,270,701
7,016,428
5,737,491
During the period, the Group invested an amount of KD
7,437,414
in the new joint venture Seven Zone
Kuwait, the Group's share of loss from the joint venture is amounting to KD
27,513
for the period ended June
30,2008,
7,
Properties under development
June
30,
2008
Cost incurred to date
Recognized profit
Transfer from work in progress
Transfer to properties held for trading
Less: Progress billings
233,724,036
27,406,350
(218,839)
{83,360,917}
177,550,630
December
31,
2007
(Audited)
201,611,808
15,612,024
6,780,670
(101,644,692)
122,359,810
June
30,
2007
127,124,166
8,389,694
(45,698,431)
89,815,429
9