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AL MAlAYA HOLDING COMPANY K.S.C. (CLOSED) AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)
FOR THE PERIOD ENDED SEPTEMBER 30, 2008
(All amounts are in Kuwaiti Dinars)
Nine months ended
September 30,
2008
2007
Cash flows from operating activities:
Profit for the period before contribution to Kuwait Foundation for the
Advancement of Sciences, National labour Support Tax and contribution to
Zakat
Adjustments for:
Net investment income
Gain on partial disposal of a subsidiary
Gain on sale of waiver of subscription in a subsidiary
Dilution loss
Group's share of results from joint ventures
Expenses related to equity settled share based payments
Depreciation and amortization
Interest income
Finance charges
Foreign currency exchange (gain) loss
Provision for end of service indemnity
65,034,953
(1,474,426)
(4,448,623)
(20,775,112)
2,609,170
(1,039,384)
2,278,759
243,605
(971,484)
2,787,710
(1,200,240)
96,274
43,141,202
Changes in operating assets and liabilities:
Accounts receivable and other debit balances
Properties held for trading
Properties under development
Work in progress
Accounts payable and other credit balances
Gross amount due to customers for properties under development
Deferred consideration on acquisition of properties
6,778,006
(7,027,213)
(46,195,432)
(2,839,595)
47,217,843
3,965,007
(4,629,011 )
40,410,807
(249,078)
(691,883)
(17,556)
(8,305)
Paid to Kuwait Foundation for the Advancement of Sciences
Paid to National labour Support Tax
Paid to Zakat
End of service indemnity paid
Net cash generated from operating activities
39,443,985
Cash flows from investing activities:
Purchase of investments at fair value through income statement
Proceeds from sale of investments at fair value through income statement
Purchase of investments available for sale
Proceeds from sale of investments available for sale
Proceeds from partial disposal of a subsidiary
Proceeds from sale of waiver of subscription in a subsidiary
Paid against increase in equity holding of subsidiaries
Investment in joint ventures
Net movement of investment properties
Interest income received
Dividend income received
Paid against acquisition of leasehold land
Purchase of fixed assets
Net cash used in investing activities
(13,252,984)
29,216,111
(22,397,671 )
1,144,838
4,886,033
20,775,112
(55,472,839)
(7,437,414)
(1,195,990)
967,518
345,964
(109,953)
(42,531,275)
21,967,754
(352,487)
(2,074,362)
389,168
107,543
(385,074)
1,409,208
239,560
62,789
21,364,099
573,842
(21,365,653)
(587,587)
23,409,069
29,835,313
53,229,083
(216,197)
(610,185)
(21,019)
52,381,682
(5,258,588)
(35,480)
(3,799,543)
(59,479,440)
325,474
574,638
(1,820,635)
(435,051)
(69,928,625)
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