14 / 19
AL MAZAY A HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES
NOTES TO THE INTERIM CONDENSED CO~SOLIDATED FINANCIAL INFORMATION
(UNAUDITED)
For the period from 1 January to 30 June 2011
10.
INVESTMENT IN JOINT VENTURES
During the period, the Group disposed of interest in a joint venture. The group's share of net assets disposed
of amounted to KD 7,429,788 against a sale consideration of KD 7,411,727, resulting in a loss on disposal
amounting KD 18,061.
12.
ACCOUNTS PAYABLE AND OTHER CREDIT BALANCES
(Audited)
30 June
31 December
30 June
2011
2010
2010
KD
KD
KD
Trade payables
23,602,606
24,101,675
18,149,332
Amounts received in advance for capital subscription
14,810,686
Advances received from customers
73,758,719
69,981,443
67,605,671
Amounts due to related parties (See note 19)
3,653,585
8,296,943
9,364,956
Retentions payable
5,227,811
5,349,684
9,339,840
Accrued development costs
2,780,659
1,497,835
99,385
Dividends payable
656,214
726,121
740,443
Other payables and accrued expenses
2,253,788
1,059,156
5,444,025
111,933,382
125,823,543
110,743,652
Il.
INVESTMENT PROPERTIES
30 June
2011
KD
115,374,019
570,502
Balance at the beginning of the period / year
Additions
Transferred from properties held for trading (See note 7)
Transferred from fixed assets
Reversal of revaluation surplus
Changes in fair value
Foreign currency translation adjustments
Balance at the end of the period / year
(43,750)
115,900,771
12
(Audited)
31 December
2010
KD
100,232,287
1,089,036
3,174,783
20,816,119
(519,366)
(8,863,029)
(555,811)
115,374,019
30 June
2010
KD
100,232,287
6,206,490
452,910
106,891,687