18 / 18
AL MAlAYA HOLDING COMPANY K.S.C. (CLOSED) AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
SEPTEMBER 30, 2008
(All amounts are in Kuwaiti Dinars)
20.
General Assembly
The shareholders' annual 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 at the date of the General
Assembly, 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 shareholders' annual 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.
21.
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 infonnation. Assets under
management at September 30,2008, amounted to KD 66,433,778 (December 31,2007 - KD 11,247,216
and September 30,2007 - KD 6,027,145).
22.
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 perfonns 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.
23.
Contingent liabilities and commitments
Letters of guarantee
Capital commitments
September 30,
2008
December 31,
2007
(Audited)
36,617,500
37,473,785
24,944,145
57,538,953
September 30,
2007
74,091,285
82,483,098
24,944,145
131,780,859
156,725,004
24. Comparative figures
Certain prior year
I
period figures have been reclassified to confonn with the current period presentation.
16