15 / 15
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)
16.
General Assembly
The General Assembly held on March 31, 2008 approved the distribution of cash dividends of 50 fils per
share and 20 bonus shares for every 100 shares held as of the General Assembly date, for the year ended
December 31, 2007. Also, the General Assembly had approved the increase in capital by 75,000,000
shares at 100 fils par value and 766 fils share premium or the equivalent after the distribution of cash
dividends and bonus shares.
The General Assembly held on March 21, 2007 approved the distribution of cash dividends of 50 fils per
share and 10 bonus shares for every 100 shares held as of the General Assembly date, for the year ended
December 31,2006.
17.
Fiduciary accounts
The Group manages projects on behalf of others, and maintains cash balances and notes receivable in
fiduciary accounts, which are not reflected in the interim consolidated financial information. Assets under
management at June 30, 2008, amounted to KD 2,754,632 (December 31, 2007 - KD 2,832,792 and June
30, 2007 - KD 9,371,330).
18.
Segment information
For management purposes, the Group is divided into three geographical segments, which are: State of
Kuwait, United Arab Emirates and Lebanon, where the Group performs its main activities in the real estate
segment. Accordingly, the Group has no secondary segment. There are no income generating transactions
between the Group's segments.
19.
Contingent liabilities and commitments
December 31,
June 30,
2007
June 30,
2008
(Audited)
2007
Letters of guarantee
38,280,485
24,944,145
25,643,145
Capital commitments
73,558,373
57,538,953
111,838,858
82,483,098
25,643,145
20.
Comparative figures
Certain prior period figures have been reclassified to conform with the current period presentation.
13