Notes to The Consolidated Financial Statement
AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
31 December 2013
The Group is required to repay the term loan in sixteen quarterly instalments between 2012 and 2016 at a similar interest
rate. The average effective interest rate on the term loans is 5.16% (2012: 5.63%) per annum.
Certain assets with carrying value of KD 25,926,435 (31 December 2012: KD 21,045,261) were collateralized against the
term loans (Note 8 and 11).
Shares of a listed subsidiary company with a fair value of KD 52,700,000 (31 December 2012: KD 24,480,000) and
investment in associate with a carrying value of KD 9,192,519 (31 December 2012: KD 9,136,509) were collateralized
against the term loans.
19. TAWARRUQ, WAKALA AND MURABAHA PAYABLES
Certain shares in subsidiary with a fair value of KD 51,057,000 (2012: KD 7,047,000) are pledged against Tawarruq
maturing on 31 December 2018.
20. DEFERRED CONSIDERATION ON ACQUISITION OF PROPERTIES
The deferred consideration on acquisition of properties was payable to the master developer against certain properties
held for trading. During the year, the Parent Company settled this amount by sale of certain properties held for trading to
the master developer.
2013
KD
22,897,300
-
-
22,897,300
Tawarruq payables
Wakala payable
Murabaha payable
2012
KD
-
5,000,000
3,500,000
8,500,000
48
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