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AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES
.1);
NOTES TO THE CONSOLIDA TED FINANCIAL STATEMENTS
MAlAYA
For the year ended 31 December 2011
AIM TOL~M,>
8.
PROPERTIES HELD FOR TRADING
2011
2010
2009
(Restated)
(Restated)
KD
KD
KD
Balance at the beginning of the year
115,314,965
102,844,733
197,864,613
Additions
72,951,745
24,669,564
29,531,545
Disposal
(59,361,095)
(7,330,468)
(41,282,582)
Transfers to investment properties (note 12)
(801,770)
(3,174,783)
(86,648,299)
Foreign currency translation adjustments
~59,417)
~1,694,081)
3,379,456
Balance at the end of the year
128,044,428
115,314,965
102,844,733
Provision for impairment
(20,672,205)
(1,912,000)
107,372,223
113,402,965
102,844,733
Provision for impairment
2011
2010
2009
KD
KD
KD
Balance at beginning of the year
1,912,000
Charge for the year
18,760,205
1,912,000
Balance at end of the year
20,672,205
1,912,000
9.
A
VAILABLE FOR SALE INVESTMENTS
2011
2010
2009
Quoted:
KD
KD
KD
Equity securities
1,980,122
2,496,543
1,393,094
Unquoted:
Equity securities
4,580,179
4,419,702
17,235,067
Funds & Portfolios
9,774,316
11,490,663
6,085,331
16,334,617
18,406,908
24,713,492
Available for sale investments with a fair value of KD 3,398,445 (31 December 2010: KD 13,340,787,31
December 2009: Nil) are pledged against loans disclosed in note 14.
Available for sale investments with a fair value ofKD Nil (31 December 2010: 2,525,102, 31 December 2009:
Nil) are pledged against a related party payable disclosed in note 13.
Available for sale investments amounting to KD 702,883 (2010: Nil, 2009: KD 631,575) are carried at cost
since the fair value could not be reliably determined.
Impairment loss on available for sale investments of KD 455,904 (2010: KD 4,156,488, 2009: KD Nil) has
been recognized in the consolidated statement of income.
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