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AL MAlAYA HOLDING COMPANY KS.C. (CLOSED) AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2008
(All amounts are in Kuwaiti Dinars)
5.
Accounts receivable and other debit balances
2008
2007
Trade receivables
20,890,071
25,060,707
Advance payments
12,697,186
9,450,941
Advances for capital subscription
14,534,904
Amounts due from related parties (Note 35)
3,568,657
7,770,607
Staff receivable
74,803
31,177
Other receivables
6,820,610
954,570
58,586,231
43,268,002
Provision for doubtful accounts (Note 28)
{16,346,304}
42,239,927
43,268,002
The fair values of accounts receivable and other debit balances approximated their carrying values as at
December 31,2008.
Other receivables include an amount of KD 4,560,453 representing prepaid rent.
The aging analysis of these trade receivables are as follows:
2008
2007
Less than 3 months
4,965,998
1,525,691
3 to 6 months
8,209,306
23,289,648
6 months to 1 year
7,714,767
245,368
20,890,071
25,060,707
6.
Properties held for trading
2008
Balance at the beginning of the year
Additions
24,314,915
Disposals (Note 24)
(18,188,717)
Transferred from investment properties (Note 11)
22,012,213
Transferred from properties under development (Note 10)
52,474,393
Transferred from work in progress (Note 12)
891,891
Balance at the end of the year
81,504,695
7.
Investments available for sale
2008
2007
Quoted:
Equity securities
1,346,541
138,000
Funds
&
Portfolios
148,282
143,255
Unquoted:
Equity securities
14,838,087
9,165,463
Funds
&
Portfolios
7,915,310
2,281,350
24,248,220
11,728,068
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