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AL MAZA
y
A 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 September 2011
M"ZAYA
AL"
ro
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2.
BASIS OF PREPARATION (CONTINUED)
Subsidiaries (Continued)
Mazaya Lamartien - S.A.L.
Seven Zones Real Estate Company
K.S.C. (Closed)
First Dubai Real Estate Development
Company - K.S.C. (Closed)
Future International Project
Management - W.L.L.
Waterfront Real Estate Company
K.S,C. (Closed)
Mezzan Combined For General
Trading - W.L.L. Company
United Circle General Contracting
Buildings - Abdullah Faisal Al Sultan
and Partners W.L.L
Percentage of ownershi[! {%}
30
31 December
30
Country of
September
2010
September
incor~oration
2011
(Audited}
2010
Lebanon
100
100
100
Kuwait
100
100
100
Kuwait
92.23
92.23
63.98
Kuwait
92.23
78.15
85
Kuwait
83.44
86.43
91.97
Kuwait
100
100
Kuwait
100
3.
SIGNIFICANT ACCOUNTING POLICIES
The accounting policies used in the preparation of this interim condensed consolidated financial information
are consistent with those used in the most recent annual audited financial statements for the year ended
3 I December 2010. The Group has adopted all of the new and revised standards issued by the International
Accounting Standard Board ("lASB") that are relevant to its operation and effective for accounting periods
beginning on or after 1 January 20 IO.The adoption of these new and revised standards had no material impact
on the interim condensed consolidated financial information of the Group.
4.
JUDGEMENTS AND ESTIMATES
The preparation of interim condensed consolidated financial information requires management to make
judgements, estimates and assumptions that affect the application of accounting policies and the reported
amounts of assets and liabilities, income and expense. Actual results may differ from these estimates.
In preparing this interim condensed consolidated financial information, the significant judgements made by
management in applying the Group's accounting policies and the key sources of estimation uncertainty were
the same as those that applied to the most recent annual audited financial statements for the year ended 31
December 2010.
5.
CASH AND CASH EQUIVALENTS
(Audited)
30 September
31 December
30 September
2011
2010
2010
KD
KD
KD
Cash on hand and at banks
19,883,084
14,819,256
15,896,331
Short term bank deposits
5,469,959
5,600,000
9,844,032
Cash
in
investment portfolios
1,447,652
64,705
16,474
26,800,695
20,483,961
25,756,837
9