Notes to The Consolidated Financial Statement
AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES
31 December 2012
The summarized financial information of the associates is given as follows:
Investment in associates include quoted associates with a carrying value of KD 5,557,024 (2011: KD 4,753,460) having a
market value of KD 5,409,789 (2011: KD 3,813,704).
Classification of associates where the Group holds less than 20 percent of the voting power of the investee is based on
the existence of significant influence exercised by the Group. This is evidenced by the Group’s management agreement,
participation in policy and decision making process of the investee with sufficient degree for the Group to demonstrate that
it has significant influence over the respective associates.
2012
KD
13,568,654
-
458,223
55,187
14,082,064
Balance at the beginning of the year
Additions
Share of results including impairment
Foreign currency translation adjustments
Balance at the end of the year
2011
KD
13,263804
670,000
(171,153)
(193,997)
13,568,654
2012
KD
15,595,976
(1,513,912)
14,082,064
1,064,594
(47,299)
Share of associates’ assets and liabilities:
Assets
Liabilities
Equity
Share of associates’ revenue and results:
Revenue
Results
2011
KD
15,404,108
(1,835,454)
13,568,654
501,717
(148,010)
43
10. INVESTMENT IN ASSOCIATES
Amount
Ownership %
Qatar
Kuwait
5,557,024
8,525,040
14,082,064
Mazaya Qatar Real
Estate Development
Q.S.C
First Qatar Real
Estate Development
K.S.C.(Closed)
2011
KD
2012
KD
2012
Country of
Incorporation
Principal
activities
2011
4,753,460
8,815,194
13,568,654
6.37
17.54
6.37
17.54
Real
estate
services
Real
estate
services
