Financial Quarterly Reports 2008

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AL-WAHA ~
AUDITING OfFICE 6.
ALI OWAID RUKHAEYES ~
Albazie & CO.
Member of RSM International
Member of The International Group of Accounting Firms
Public Accountants
Kuwait Airways Building, 7til Floor
Shuhada Street, P.O. Box 2115 Safat
13022 - State of Kuwait
T + 9652410010
T + 9652961000
F + 9652412761
P.O. Box 27387 Safat
13134 - State of Kuwait
Telephone: (965) 2423415
Facsimile: (965) 2423417
REVIEW REPORT ON INTERIM CONSOLIDATED FINANCIAL INFORMATION
The Board of Directors
AI Mazaya Holding Company K.S.C. (Closed)
State of Kuwait
Introduction
We have reviewed the accompanying interim condensed consolidated balance sheet of AI Mazaya Holding
Company K.S.C. (Closed) (the Parent Company) and subsidiaries (the Group) as of September 30, 2008 and the
related interim condensed consolidated statements of income, changes in equity and cash flows for the nine
months period then ended. The Parent Company's management is responsible for the preparation and
presentation of this interim consolidated financial information in accordance with International Accounting
Standard 34, 'Interim Financial Reporting'. Our responsibility is to express a conclusion on these interim
consolidated financial information based on our review.
We did not review the interim financial information of Future International Project Management W.L.L. (a
subsidiary of a subsidiary) whose total assets constitute 14.22% of the consolidated totals. The financial
information of the above mentioned subsidiary were audited by another auditor, whose report was provided to us
and our conclusion in so far as it related to the amounts indicated in the interim condensed consolidated financial
information related to that subsidiary is based solely on the report of the other auditor.
Scope of Review
We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of
Interim Financial Information Performed by the Independent Auditor of the Entity." A review of interim
consolidated financial information consists of making inquiries, primarily of persons responsible for financial and
accounting matters, and applying analytical and other review procedures. A review is substantially less in scope
than an audit conducted in accordance with International Standards on Auditing and consequently does not
enable us to obtain assurance that we would become aware of all significant matters that might be identified in an
audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review and the report of the other auditor, nothing has come to our attention that causes us to
believe that the accompanying interim consolidated financial information is not prepared, in all material respects,
in accordance with International Accounting Standard 34, 'Interim Financial Reporting'.
Report on other Legal and Regulatory Requirements
Furthermore, the interim consolidated financial information is in agreement with the parent company's books of
account. We further report that, to the best of our knowledge and belief, no violations of the Commercial
Companies' Law of 1960, as amended, or of the Articles of Association of the Parent Company have occurred
during the period ended September 30, 2008 that might have had a material effect on the business of the Parent
Company or on its financial ..
Ii Owaid Rukheyes
, Licence No. 72 - A
Member of the International Group
of Accounting Firms
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Licence No. 33 - A
Albazie & Co.
Member of RSM International
October 21, 2008
State of Kuwait