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AL MAlAYA HOLDING COMPANY
K.S.C.
(HOLDING) AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (UNAUDITED)
AS OF MARCH
31,
2009
(All amounts are in Kuwaiti Dinars)
December 31,
March 31,
March 31,
2008
2008
ASSETS
Note
2009
(Audited}
(Restated}
Cash and cash equivalents
3
36,673,700
48,756,857
36,801,004
Investments at fair value through income statement
1,335
11,442,733
Accounts receivable and other debit balances
4
37,117,040
25,845,689
20,597,610
Properties held for trading
5
71,799,374
81,504,695
7,064,733
Investments available for sale
23,775,572
24,248,220
10,691,948
Investment in an associate
2,405,889
2,405,889
Investment in an unconsolidated subsidiary
268,400
268,400
Investment in joint ventures
12,069,644
11,733,949
12,473,545
Properties under development
6
149,818,740
132,921,184
159,452,233
Investment properties
13,998,839
Work in progress
12,351,725
11,574,714
9,558,298
Fixed assets
659,247
662,695
716,763
Leasehold land
1,675,080
1,693,025
1,747,858
Goodwill
3,257,125
3,259,607
1,044,993
351,871,536
344,876,259
285,590,557
LIABILITIES AND EQUITY
Liabilities:
Bank overdraft
4,738,629
5,093,743
1,112,367
Accounts payable and other credit balances
7
102,426,621
99,045,662
80,939,343
Term loans
44,970,000
44,970,000
53,046,745
Wakala and Murabaha payables
8
5,000,000
6,070,000
11,109,068
Deferred consideration on acquisition of properties
28,833,640
34,007,819
40,953,709
End of service indemnity
228,798
210,357
149,864
Totalliabilities
186,197,688
189,397,581
187,311,096
Equity:
Capital
9
45,406,980
45,406,980
37,906,980
Share premium
75,714,971
75,714,971
33,234,971
Statutory reserve
9,131,420
9,131,420
7,777,758
Voluntary reserve
9,131,420
9,131,420
7,777,758
Treasury shares reserve
1,561,889
1,561,889
1,334,823
Cumulative changes in fair value
78,715
68,567
72,000
Assets revaluation surplus
519,366
623,239
1,038,731
Foreign currency translation adjustments
2,698,601
(807,542)
(2,490,696)
Effect of changes in subsidiary's treasury shares
(671,823)
(457,645)
Effect of changes in subsidiary's equity
57,768
57,768
68,900
Retained earnings
9,689,593
4,638,767
6,490,644
153,318,900
145,069,834
93,211,869
Treasury shares
10
(28,396,237)
(28,049,447)
(2,027,624)
Equity attributable to equity holders of the Parent
Company
124,922,663
117,020,387
91,184,245
Non-controlling interests
40,751,185
38,458,291
7,095,216
Total equity
165,673,848
155,478,678
98,279,461
Total liabilities and equity
351,871,536
344,876,259
285,590,557
The accompanying notes (1) to (20) form an integral part of the interim consolidated financial information
Rashid Y. AI-Nafisi
Chairman
2