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AL MAZAYA HOLDING COMPANY K.S.C. (HOLDING) AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
MARCH 31, 2009
(All amounts are in Kuwaiti Dinars)
3.
Cash and cash equivalents
December 31,
March 31,
2008
March 31,
2009
(Audited}
2008
Cash and bank balances
28,268,938
39,772,935
25,483,884
Short term bank deposits
8,403,782
8,982,942
11,273,500
Cash in investment portfolios
980
980
43,620
36,673,700
48,756,857
36,801,004
Short term bank deposits eam an average interest rate of 3.90% (December 31,2008 - 7.08 %, March 31,
2008 - 5.33 %) per annum.
4.
Accounts receivable and other debit balances
December 31 ,
March 31,
2008
March 31,
2009
(Audited}
2008
Trade receivables
20,981,434
4,495,833
5,457,825
Advance payments
10,231,356
12,697,186
7,135,976
Advances for capital subscription
14,534,904
Murabaha receivables
4,323,456
Due from related parties (Note 14)
6,422,057
3,568,657
6,588,199
Pre payments
5,130,256
4,887,302
744,367
Staff receivables
105,071
74,803
40,477
Other receivables
5,967,336
1,933,308
630,766
53,160,966
42,191,993
20,597,610
Provision for doubtful accounts
(16,043,926}
(16,346,304}
37,117,040
25,845,689
20,597,610
Trade receivables include an amount of KD 13,036,892 that was collected subsequent to the interim
condensed consolidated statement of financial position date.
5.
Proj2erties held for trading
December 31,
March 31,
2008
March 31,
2009
(Audited}
2008
Balance at the beginning of the period / year
81,504,695
Additions
201,693
24,314,915
13,691,787
Transferred from investment properties
22,012,213
Transferred (to)
/
from properties under
development (Note 6)
(2,658,686)
52,474,393
218,839
Transferred from work in progress
891,891
Disposals
(6,341,626)
(18,188,717)
(6,845,893)
Foreign currency translation adjustments
(906,702}
Balance at the end of the period / year
71,799,374
81,504,695
7,064,733
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