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AL MAZA YA HOLDING COMPANY K.S.C. (HOLDING) AND ITS SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
JUNE 30, 2010
(All amounts are in Kuwaiti Dinars)
The interim consolidated financial information include the financial information of AI Mazaya Holding Company -
K.S.C. (Holding) (the Parent Company) and the following subsidiaries:
Subsidiaries
AI Mazaya Real Estate Development Company -
K.S.C. (Closed)
AI Mazaya Real Estate FZlLLC and its subsidiaries:
AI Dana Real Estate Limited
AI Rayhan Real Estate Limited
Advantage General Trading Co. WL.L.
Spectrum FZ
I
LLC
Mazaya Investments (DIFC) Limited
AI Mazaya AI Khalijia for General
Trading and
Contracting - Khalid S. Esbaitah and Partners -
W.L.L.
AI Mazaya Arabian Real Estate Company - Khalid
S. Esbaitah and Partners - W.L.L.
AI Mazaya International for Projects Management
Company - Khalid S. Esbaitah and Partners -
W.LL
Mazaya Lebanon Company - SAL. (Holding) and
its subsidiary:
Mazaya Lamartien - SAL.
Seven Zones Real
Estate Company K.S.C.
(Closed)
First Dubai Real Estate Development Company -
K.S.C. (Closed) and its subsidiary:
Future International
Project Management -
W.L.L. and its subsidiary:
Waterfront Real Estate Company K.S.C.
(Closed)
United Circle General
Contracting and
Buildings - Abdulla Faisal AI Sultan and
Partner - WLL.
3.
Cash and cash equivalents
Cash on hand and at banks
Short term bank deposits
Cash in investment portfolios (Note 17)
Percentage of ownership
Country of
incorporation
June
30,
2010
%
December 31,
2009
(Audited)
June 30, 2009
%
%
Kuwait
U.A.E
U.A.E
UAE
U.A.E
U.A.E
U.A.E
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
Kuwait
100
100
100
Kuwait
100
100
100
Kuwait
100
100
100
Lebanon
Lebanon
100
100
100
100
100
100
Kuwait
100
100
100
Kuwait
63.98
63.98
63.98
Kuwait
85
85
85.16
Kuwait
91.97
91.97
91.97
Kuwait
100
June
30,
2010
December 31,
2009
(Audited)
June 30,
2009
21,768,041
11,617,760
40,283
20,760,706
7,182,970
236,628
25,243,714
17,334,608
686
28,180,304
42,579,008
33,426,084
The average effective interest rate on short term bank deposits was 1.627% (December 31, 2009 - 2% and
June 30, 2009 - 4.98%) per annum. These deposits have an average maturity of 55 days (December 31,
2009 - 30 days and June 30, 2009 - 41 days).
Cash on hand and at banks include an amount of KD 15,786,882 (December 31, 2009 - KD 18,140,492 and
June 30, 2009 - KD 23,130,759) representing restricted cash to be used only against construction work.
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