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AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the year ended 31 December 2011
MAlAYA
NMlOlMD
5.
RESTATEMENT (CONTINUED)
For the year
ended
December
2010
(restated)
KD
Consolidated statement of income
Revenue from sale of
properties held for trading
Cost of properties sold
Marketing expenses
Loss for the year
9,161,198
(7,330,468)
(280,228)
(13,012,770)
Loss per share attributable to the equity
holders of the Parent Company -Fils
(24.26)
6.
CASH AND BANK BALANCES
For the year
ended 31
December
2010
(as reported
previously)
KD
17,726,597
(13,251,380)
(213,585)
(10,301,640)
(18.38)
2011
2010
2009
KD
KD
KD
Cash on hand and at banks
16,652,549
14,819,256
20,760,706
Short term bank deposits
5,476,413
5,600,000
7,182,970
Cash in investment portfolios
1,413,770
64,705
236,628
23,542,732
20,483,961
28,180,304
Restricted bank balances
(8,614,418)
(11,999,716)
(18,140,492)
Cash and cash equivalents
14,928,314
8,484,245
10,039,812
The average effective interest rate on short term bank deposits was 1.4% (31 December 2010: 1.75%, 31
December 2009: 2%) per annum. These deposits have an average maturity of66 days (31 December 2010: 30
days, 31 December 2009: 30 days).
Restricted bank balances represent escrow accounts restricted for receiving and making payments for specific
construction activity and these may not be available for use within 90 days.
7.
ACCOUNTS RECEIVEABLE AND OTHER DEBIT BALANCES
2011
2010
2009
KD
KD
KD
Trade receivables
23,080,193
6,058,934
5,142,216
Advance payments
1,188,496
2,302,053
11,938,128
Advance for investments
975,827
931,865
Advances for capital subscription
7,163,163
Due from related parties
4,796,836
887,114
5,365,299
Staff receivables
8,410
8,951
1,254,791
Other receivables
976,393
455,920
1,468,720
31,026,155
10,644,837
32,332,317
Allowance for doubtful debts
(10,449,677)
(959,454)
(800,889)
20,576,478
9,685,383
31,531,428
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