Page 45 - Q4-2024-EN

AL-MAZAYA HOLDING COMPANY - K.S.C. (PUBLIC)
AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2023
(All amounts are in Kuwaiti Dinars)

Net cash inflow on disposal:

2023
Net cash consideration after settling the current accounts 4,027,555
Less: Cash on hand and at banks balances of the subsidiary disposed off (108,754)
Net cash inflow on disposal 3,918,801

7. Financial assets at fair value through other comprehensive income (“FVTOCI”)
2023 2022
Unquoted equity securities 2,543,514 7,787,909
Investment funds 1,328,757 1,225,648
3,872,271 9,013,557

Financial assets at FVTOCI amounting to KD 1,160,000 (2022 – KD 9,013,557) are pledged as collateral against Islamic
bank facilities (Note 13).

The financial assets above are denominated in the following currencies:
2023 2022
Kuwaiti Dinar 2,543,514 7,787,909
US Dollar 1,328,757 1,225,648
3,872,271 9,013,557

The valuation techniques and measurement levels of these financial assets are disclosed in (Note 30).

8. Property, plant and equipment
Furniture and
Right of use Medical tools Computers and fixtures and
assets (a) and equipment software others Total
Cost:
At January 1, 2022 1,499,155 828,770 1,332,602 1,300,456 4,960,983
Additions - 166,953 84,504 597,638 849,095
Net transferred from investment properties (a)
(Note 9) 62,115 - - - 62,115
Related to disposal of a subsidiary - (751,204) (33,362) (43,644) (828,210)
Effect of hyperinflation on a subsidiary - - - 48,609 48,609
Foreign currency translation adjustments - - 4,169 (10,968) (6,799)
At December 31, 2022 1,561,270 244,519 1,387,913 1,892,091 5,085,793
Additions - 58,567 128,232 199,691 386,490
Transferred to assets classified as held for sale - - - (102,870) (102,870)
Foreign currency translation adjustments - - 1,955 948 2,903
At December 31, 2023 1,561,270 303,086 1,518,100 1,989,860 5,372,316

Accumulated depreciation:
At January 1, 2022 - 41,671 1,187,133 1,004,288 2,233,092
Charge for the year 118,860 37,635 73,303 77,627 307,425
Related to disposal of a subsidiary - (59,432) (2,844) (2,244) (64,520)
Foreign currency translation adjustments - - 2,814 (1,681) 1,133
At December 31, 2022 118,860 19,874 1,260,406 1,077,990 2,477,130
Charge for the year 171,408 27,390 68,932 74,006 341,736
Related to transfer to assets classified as held
for sale - - - (35,528) (35,528)
Foreign currency translation adjustments - - 1,950 1,381 3,331
At December 31, 2023 290,268 47,264 1,331,288 1,117,849 2,786,669

Net book value
At December 31, 2022 1,442,410 224,645 127,507 814,101 2,608,663
At December 31, 2023 1,271,002 255,822 186,812 872,011 2,585,647

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