12 / 19
AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION
(UNAUDITED)
For the period from 1 January to 30 June 2011
5.
CASH AND CASH EQUIVALENTS (Continued)
The average effective interest rate on short term bank deposits was l. 27% (31 December 2010: l.75% and 30
June 2010: l.627%) per annum. These deposits have an average maturity of 55 days (31 December 2010: 68
days, 31 December 2010: 30 days and 30 June 2010: 55 days).
Cash on hand and at banks include an amount of KD 14,206,125 (31 December 2010: KD 11,999,716 and 30
June 2010: KD 15,786,882) representing restricted cash to be used only against construction work.
7.
PROPERTIES HELD FOR TRADING
(Audited)
30 June
31 December
30 June
2011
2010
2010
KD
KD
KD
Balance at the beginning of the period / year
138,972,881
126,122,141
126,122,141
Additions
1,227,245
32,882,984
24,684,435
Disposals
(479,531)
(13,251,380)
(12,218,667)
Transferred to investment properties (See note 11)
(3,174,783)
Foreign currency translation adjustments
(2,351,951)
(1,694,081)
1,644,433
Impairment losses
(1,912,000)
Balance at the end of the period / year
137,368,644
138,972,881
140,232,342
6.
ACCOUNTS RECEIVEABLE AND OTHE DEBIT BALANCES
(Audited)
30 June
31 December
2011
2010
KD
KD
Trade receivables
10,008,225
6,058,934
Advance payments
1,693,639
2,302,053
Advance for investments
5,769,265
931,865
Advances for capital subscription
19,094
Due from related parties (See note 19)
1,243,293
887,114
Prepayments
240,585
Staff receivables
11,629
8,951
Other receivables
546,779
455,920
19,532,509
10,644,837
Allowance for doubtful debts
(959,454)
(959,454)
18,573,055
9,685,383
10
30 June
2010
KD
2,632,352
5,115,207
931,865
4,751,372
940,722
14,371,518
(800,889)
13,570,629