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AL MAZAYA 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)
1,
Incorporation and activities of the Group
AI Mazaya Holding Company - K.S,C, (Closed) was incorporated on November 7, 1998 under the
Commercial Companies Law No, 15 of 1960 and amendments thereto,
The Parent Company is engaged in investment in local and foreign companies, real estate properties and
consultancy services, The registered Head Office of the Parent Company is at Salhiya complex, Fahed AI
Salem Street, P'O. Box 3546, Safat 13036, Kuwait.
These interim consolidated financial information were approved for issue by the Board of Directors on
July 28,2008,
2,
Basis of preparation
These interim consolidated financial information have been prepared in accordance with Intemational
Accounting Standard 34 "Interim Financial Reporting", The accounting policies used in the preparation of the
interim consolidated financial information for the period are consistent with those used in the preparation of
the annual consolidated financial statements for the year ended December 31, 2007,
The interim consolidated financial information do not include all of the information and footnotes required for
complete consolidated financial statements prepared in accordance with International Financial Reporting
Standards, In the opinion of management, all adjustments consisting of normal recurring accruals considered
necessary for a fair presentation have been included, Operating results for the period ended June 30, 2008
are not necessarily indicative of the results that may be expected for the year ending December 31, 2008.
For further information, refer to the consolidated financial statements and notes thereto for the year ended
December 31, 2007,
The interim consolidated financial information include the financial information of AI Mazaya Holding
Company - K,S,C, (Closed) (the Parent Company) and the following subsidiaries (the Group):
Percentage of holding
December
31,
June
30,
2007
June
30,
Country of
2008
%
2007
Subsidiaries
incorl2oration
%
(Audited)
%
AI Mazaya Real Estate Development
Company - K,S.C.
(Closed)
Kuwait
100
100
100
AI Mazaya Real Estate FlUC and its subsidiaries:
U.A,E
100
100
100
AI Dana Real Estate Limited
U,A,E
100
100
100
AI Rayhan Real Estate Limited
UAE
100
100
100
Advantage General Trading Co, W.L.L.
UAE
100
100
AI Mazaya AI Khalijia for General Trading and Contracting
- Khalid S, Esbaitah and Partners - W.L.L.
Kuwait
100
100
100
AI Mazaya Arabian Real Estate Company - Khalid S,
Esbaitah and Partners - W.L.L.
Kuwait
100
100
100
AI Mazaya International for Projects Management
Company - Khalid S, Esbaitah and Partners - W.LL.
Kuwait
100
100
100
Mazaya Lebanon Company - SAL, (Holding) and its
subsidiary:
Lebanon
100
100
100
Mazaya Lamartien - SAL.
Lebanon
100
100
100
Seven Zones Real Estate Company K.S,C.C
Kuwait
100
First Dubai Real Estate Development
Company - K.S,C.
(Closed)
Kuwait
77.85
81.78
91.73
7