Notes to The Consolidated Financial Statement
AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
31 December 2013
(i) Additions includes the purchase of an property held for trading amounting to KD 868,299 from related party. For detail
of transaction refer note 25.
(ii) Disposal includes the sale of property held for trading of KD 4,668,299 to a related party. For more details of transaction
refer note 25.
12. PROPERTIES HELD FOR TRADING
2013
KD
93,788,247
8,728,048
(17,070,175)
-
704,717
-
235,100
86,385,937
Balance at the beginning of the year
Additions (refer note (i) below)
Disposals (refer note (ii) below)
Transferred to investment properties (note 8)
Net impairment reversal for the year
Net transfers
Foreign currency translation adjustments
Balance at the end of the year
2012
KD
107,372,223
16,219,784
(23,592,161)
(345,710)
1,312,868
(7,951,891)
773,133
93,788,246
Impairment loss of KD 314,316 (31 December 2012: KD 2,767,082) has been made against certain quoted and unquoted
securities on which there has been a significant or prolonged decline in value (note 23).
Available for sale investments with a fair value of KD 6,846,035 31 December 2012: KD 6,761,573) are pledged against
certain term loans disclosed in note 18.
Unquoted equity shares are carried at cost, less impairment, if any, due to the non-availability of reliable measures of their
fair values. Management has performed a review of its unquoted equity investments to assess whether impairment has
occurred in the value of these investments and recorded an impairment loss of KD 311,873 (2012: KD 2,572,957) in the
consolidated income statement. Based on the latest available financial information, management is of the view that no
further impairment loss is required as at 31 December 2013 in respect of these investments. Impairment loss of KD 2,443
(2012: KD 194,125) is recorded in consolidated income statements on quoted equity shares.
2013
KD
2,706,947
2,565,811
7,478,115
12,750,873
Quoted:
Equity securities
Unquoted:
Equity securities
Funds and managed portfolios
2012
KD
2,732,376
2,555,187
7,606,660
12,894,223
11. FINANCIAL ASSETS AVAILABLE FOR SALE
44
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