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AL MAZAYA HOLDING COMPANY
K,S.C.
(CLOSED) AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2008
(All amounts are in Kuwaiti Dinars)
Cash flows from operating activities:
Profit for the year before contribution to Kuwait Foundation for the Advancement of
Sciences, National Labor Support Tax, contribution to Zakat and Board of
Directors' remuneration
Adjustments for:
Changes in fair value of investments properties
Net investments income
Group's share of results from joint ventures
Group's share of results from an associate
Expenses related to equity settled share based payments
Impaimnentlosses
Provisions
Gain on partial disposal of a subsidiary
Gain on sale of waiver of subscription in a subsidiary
Dilution loss
Depreciation and amortization
Interest income
Finance charges
Foreign currency exchange gain
2008
2007
(Restated)
7,442,026
25,214,930
(120,298)
(1,579,132)
(1,476,479)
342,763
(1,020,555)
(120,157)
1,897,015
481,160
50,661,068
17,846,304
(4,448,623)
(2,334,208)
(23,526,071 )
2,893,829
333,761
222,818
(1,282,444)
(302,986)
3,050,999
2,205,446
(669,432)
(240)
52,841,906
22,869,588
(5,713,666)
(6,946,450)
(33,460,589)
(13,839,338)
(64,929,602)
(52,666,456)
50,758,008
17,948,067
13,603,709
(4,500,685)
5,277,580
8,599,081
(27,357,009)
(249,078)
(216,197)
(691,883)
(610,185)
(17,556)
(18,397)
(75,000)
(150,000)
7,547,167
(28,333,391 )
(13,152,984)
(1,796,469)
30,256,201
4,231,091
(81,763,044)
(9,625,829)
70,990,929
189,786
347,082
574,637
640,397
311,300
(1,820,635)
(3,642,455)
(864,755)
27,338,501
7,043,271
5,250,246
23,526,071
(65,575,485)
6,491,150
(7,437,415)
(3,617,737)
28,078
(268,400)
(161,589)
(660,378)
(11,830,842)
(1,337,593)
Changes in operating assets and liabilities:
Accounts receivable and other debit balances
Properties held for trading
Investment properties
Properties under development
Accounts payable and other credit balances
Gross amount due to customers for properties under development
Deferred consideration on acquisition of properties
Paid to Kuwait Foundation for the Advancement of Sciences
Paid to National Labor Support Tax
Paid to Zakat
End of service indemnity paid
Board of Directors' remuneration paid
Net cash generated from (used in) operating activities
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 investment available for sale
Proceeds from sale of investments available for sale
Dividends income received
Interest income received
Paid against acquisition of leasehold land
Work in progress
Proceeds from sale of properties held for trading
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
Net movement of investment properties
Investment in joint venture
Investment in associate
Paid against increase in investment in unconsolidated subsidiary
Fixed assets
Net cash used in investing activities
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