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AL MAZAYA 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)
10.
Accounts payable and other credit balances
June 30,
2010
December 31,
2009
(Audited)
Trade payables
Advances received from customers
Amounts due to related parties (Note 17)
Retentions payable
Accrued development costs
Dividends payable
Other payables and accrued expenses
18,149,332
67,605,671
9,364,956
9,339,840
99,385
740,443
5,444,025
20,449,459
64,030,508
10,482,183
6,320,453
136,800
747,868
5,056,051
June 30,
2009
110,743,652
24,709,049
78,796,277
720,105
4,498,590
385,640
754,187
6,226,255
107,223,322
116,090,103
Amounts due to related parties as of June 30,2010 include an amount of KD 1,574,798 representing a
loan provided by a related party bearing an interest rate of 4.34% per annum and will mature on April 20,
2011. This loan is secured by an investment available for sale with a fair value of KD 6,778,307 (Note 6).
11.
Other eguity balances
Foreign
Treasury
Cumulative
Asset
currency
Statutory
Voluntary
shares
changes in
revaluation
translation
reserve
reserve
reserve
fair value
sur~lus
adjustments
Total
Balance as at
December 31, 2009
9,646,725
9,646.725
701,077
56,055
519,366
1,478,702
22,048,650
Sale of treasury shares
(2,934,920)
(701,077)
(3,635,997)
Total comprehensive
income for the period
33,565
869,883
903,448
Balance as al June
30,2010
9,646,725
6,711,805
89,620
519,366
2,348,585
19,316,101
Balance as at
December 31, 2008
9,131,420
9,131,420
1,561,889
68,567
623,239
(807,542)
19.708,993
Sale of treasury shares
(860,812)
(860,812)
Total comprehensive
income (loss) for the
period
82,808
(103,873)
2,973,917
2,952,852
Balance as at June 30,
2009
9,131,420
9,131,420
701,077
151,375
519,366
2,166,375
21,801,033
12.
TreasurY shares
December 31 ,
June 30,
2009
June 30,
2010
(Audited}
2009
Number of shares (shares)
32,289,869
49,189,869
49,189,869
Percentage of issued shares (%)
6.51%
9.85%
9.84%
Market value (Kuwaiti Dinar)
2,873,798
5,997,864
10,133,133
Cost (Kuwaiti Dinar)
17,354,505
27,189,284
27,189,284
Treasury shares include 23,008,000 (December 31,2009 - 39,908,000, June 30, 2009 - 39,908,000) shares
with a cost of KD 13,389,263 (December 31, 2009 - KD 23,226,456, June 30, 2009 - KD 23,224,041) at
market value of KD 2,047,712 recorded in the books of a subsidiary - First Dubai Real Estate Development
K.S.C. (Closed), these shares are pledged against certain murabaha payable.
12