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AL MAZA
y
A HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the year ended 31 December 2011
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28.
FINANCIAL INSTRUMENTS (CONTINUED)
Liquidity risk management
Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The
Group's approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient
liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring
unacceptable losses or risking damage to the Group's reputation.
Ultimate responsibility for liquidity risk management rests with the board of directors, who have built an
appropriate liquidity risk management framework for the management of the Group's short, medium and
long-term funding and liquidity management requirements. The Group manages liquidity risk by maintaining
adequate reserves by continuously monitoring forecast and actual cash flows and matching the maturity
profiles of financial assets and liabilities.
The table below analyses the Group's non-derivative financial liabilities based on the remaining period at the
consolidated statement of financial position to the contractual maturity date. The amounts disclosed in the
table below are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying
balances as the impact of discounting is not significant.
At 31 December 2011
Financial liabilities
Bank overdrafts
Accounts payable and other credit
balances
Wakala and Murabaha payables
Term loans
Deferred consideration on
acquisition of properties
Commitments
Capital commitments
Operating lease commitments
At 31 December 2010
Financial liabilities
Bank overdrafts
Accounts payable and other credit
balances
Wakala and Murabaha payables
Term loans
Deferred consideration on
acquisition of properties
Commitments
Capital commitments for
construction
Operating lease commitments for
land
Less than
1
year
Between
1
and 2 years
KD
Total
Between 2
and 5 years
KD
KD
2,791,842
KD
2,791,842
36,251,242
8,500,000
4,500,000
33,801,600
36,251,242
8,500,000
44,639,400
6,337,800
3,866,170
3,866,170
55,909,254
6,337,800
33,801,600
96,048,654
5,530,012
6,912,516
15,207,534
27,650,062
221,110
221,110
Less than
Between 1
Between 2
1 year
and 2 years
and 5 years
Total
KD
KD
KD
KD
4,971,120
4,971,120
55,842,100
55,842,100
8,500,000
8,500,000
44,381,400
44,381,400
30,070,031
30,070,031
143,764,651
143,764,651
35,880,362
35,880,362
245,109
245,109
40