Mazaya_FS_E Q4. 20

AL-MAZAYA HOLDING COMPANY - K.S.C. (PUBLIC) AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2020 (All amounts are in Kuwaiti Dinars) 45 Those recommendations are subject to the approval of the Shareholders’ General Assembly of the Parent Company and the approval of the related regulatory authorities regarding the set-off of accumulated losses, treasury shares cancellation and reduction of the Parent Company’s share capital. The Shareholders Annual General Assembly Meeting held on February 20, 2020 had approved the consolidated financial statements for the year ended December 31, 2019 and not to distribute cash dividend or bonus share and not to pay Board of Directors remuneration for the year ended December 31, 2019. The Shareholders Annual General Assembly Meeting held on April 8, 2019 had approved the consolidated financial statements for the year ended December 31, 2018 and to transfer the voluntary reserve balance amounted to KD 11,010,499 to retained earnings (Note 18). 26. Segment reporting For management purposes, the Group is divided into four main geographical segments that are: State of Kuwait, United Arab Emirates (UAE), Kingdom of Saudi Arabia (KSA), Turkey in addition to other segments, where the Group performs its main activities in the real estate segment. There is no income generating transactions between the Group’s segments. 2020 Kuwait UAE KSA Turkey Others Total Revenue 5,795,655 9,991,480 831,824 2,268,375 659,410 19,546,744 Cost of revenue (1,119,364) (8,258,196) (152,889) (2,118,966) (240,016) (11,889,431) Impairment loss on properties held for trading - (336,063) - - (502,288) (838,351) Share of result from associate (474,452) - - - - (474,452) Change in fair value of investment properties (2,757,704) (351,378) (433,213) (119,921) (414,066) (4,076,282) General and administrative & selling and marketing expenses (2,492,442) (940,330) (22,549) (166,117) (72,157) (3,693,595) Net other expenses (135,780) (1,120,772) (392,846) 23,115 (60,413) (1,686,696) Finance cost (4,445,796) (62,062) - (135,580) (304,035) (4,947,473) Others (387,411) - - - - (387,411) Segment loss (6,017,294) (1,077,321) (169,673) (249,094) (933,565) (8,446,947) Total segment assets 91,030,766 75,958,344 15,467,165 9,445,488 15,881,789 207,783,552 Total segment liabilities 112,538,666 10,019,593 282,755 295,569 4,740,634 127,877,217 2019 Kuwait UAE KSA Turkey Others Total Revenue 5,076,602 19,395,870 804,470 1,205,545 1,380,689 27,863,176 Cost of revenue (729,496) (19,839,814) (177,229) (1,112,126) (818,199) (22,676,864) Impairment loss on properties held for trading - (2,470,542) - - - (2,470,542) Share of result from associate and joint venture 634,359 - - - - 634,359 Change in fair value of investment properties (291,604) (168,668) (23,613) (281,023) (4,266) (769,174) General and administrative & selling and marketing expenses (2,786,404) (1,402,588) (15,622) (220,918) (181,570) (4,607,102) Net other income (expenses) 158,706 (1,044,739) (223,803) 201,299 (375,561) (1,284,098) Finance cost (3,871,560) (719,996) - (613,209) (363,111) (5,567,876) Others 224,695 - - - - 224,695 Segment (loss) profit (1,584,702) (6,250,477) 364,203 (820,432) (362,018) (8,653,426) Total segment assets 97,354,640 82,815,310 15,803,922 14,053,919 19,310,646 229,338,437 Total segment liabilities 108,545,643 12,592,755 288,640 7,836,710 7,099,039 136,362,787