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AL MAZAYA HOLDING COMPANY
K.S.C.
(HOLDING) AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)
FOR THE PERIOD ENDED MARCH
31,
2009
(All amounts are in Kuwaiti Dinars)
Three months ended
March 31,
2008
2009
(Restated)
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) loss
Loss (gain) on partial disposal of a subsidiary
Group's share of results from joint ventures
Expenses related to equity settled share cap~al payments
Depreciation and amortization
Interest income
Finance charges
Foreign currency exchange loss (gain)
Provision for end of service indemnity
7,667,778
(100,524)
11,316
37,539
30,636
90,248
(182,185)
652,571
31,452
40,646
8,279,477
Changes in operating assets and liabilities:
Accounts receivable and other debit balances
Properties held for trading
Properties under development
Accounts payable and other credit balances
Deferred consideration on acquisition of properties
(6,677,683)
8,652,095
(8,718,983)
(6,550,181 )
(6,477,631 )
(11,492,906)
(16,305)
End of service indemnity paid
Net cash (used in) generated from operating activities
(11,509,211 )
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
Proceeds from partial disposal of a subsidiary
Investment in joint ventures
Investment properties
Work in progress
Interest income received
Dividend income received
Paid against increase in equity holding of subsidiaries
Purchase of fixed assets
Net cash used in investing activities
1,258
(11,031,134)
11,633,723
89,376
(72,351)
(777,011)
200,557
(30,206)
(68,854)
(54,642)
13,497,886
589,148
(3,391,755)
(580,760)
364,928
80,203
(506,889)
1,204,751
(587,889)
43,534
10,713,157
13,475,148
6,845,893
(45,075,134)
18,840,944
2,562,394
7,362,402
(1,347)
7,361,055
(1,993)
5,157,377
1,145,718
4,964,916
(7,458,373)
(3,766,828)
(734,148)
351,360
52,560
(27,455)
(316,866)
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