Notes to The Consolidated Financial Statement
AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
31 December 2013
6,001,051
Shares
649,319,770
(64,802,134)
584,517,636
10.27 fils
290,553
Shares
649,319,770
(64,802,134)
584,517,636
0.50 fils
Profit for the year attributable to equity holders of the Parent Company
Weighted average number of ordinary shares
Less: weighted average number of treasury shares
Weighted average number of shares outstanding
Basic and diluted earnings per share attributable to the equity holders
of the parent company- (fils)
2013
KD
2012
KD
Investment properties mainly comprise of the following;
39
74,474,146
10,149,170
)700,089(
-
5,083,148
88,496
89,094,871
73,856,672
2,198,232
-
345,710
)1,965,753(
39,285
74,474,146
Balance at the beginning of the year
Additions (refer note (i) below)
Disposals
Transferred from properties held for trading (Note 12)
Net gain (loss) from fair value adjustment (refer note
(ii) below)
Foreign currency translation adjustments
Balance at the end of the year
2013
KD
2012
KD
7. GOODWILL
Goodwill represents excess of consideration paid for acquisition of First Dubai Real Estate Development Company K.S.C.P.
(FDDRE) shares over and above the fair value of the identifiable assets and liabilities. During the year management has
tested the carrying value of goodwill for impairment based on fair value of FDDRE shares quoted on the Kuwait Stock
Exchange and has noted no impairment.
During the previous year management tested the carrying value of goodwill based on cash flows from the underlying real
estate projects of FDDRE. The management used cash flow projection for 1 to 2 years, applying 15% discount rate and
recorded an impairment loss of KD 825,000. For projecting cash flows, management used assumptions of market rate per
sq. ft. derived from the valuation performed for properties held for trading in the books of FDDRE.
8. INVESTMENT PROPERTIES
6. BASIC AND DILUTED EARNING PER SHARE
Basic and diluted earnings per share is computed by dividing the profit for the year attributable to the equity holders of the
Parent Company by the weighted average number of shares outstanding during the year less treasury shares.
The following reflects the profit and share data used in the basic and diluted profit per share computations:
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