Notes to The Consolidated Financial Statement
AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES
31 December 2012
(i) Included in additions are properties held for trading received from Al Madar, Al Wahda and Villa as a result of asset
distribution agreement (note 9 (i), (ii) and (iv)).
(ii) During the year the Parent Company entered into an agreement to distribute the certain assets of it’s joint venture Villa
– 492 Project (the Villa) with one of its partner NNRG. Based on the agreement certain of the properties held for trading
were transferred to NNGR (Note 9 (ii) and (iv)).
12. PROPERTIES HELD FOR TRADING
2012
KD
107,372,223
16,219,784
(23,592,161)
(345,710)
(7,951,891)
773,133
1,312,868
93,788,246
Balance at the beginning of the year
Additions (refer note (i) below)
Disposals
Transferred to investment properties (note 8)
Net transfers (refer note (ii) below)
Foreign currency translation adjustments
Impairment reversal (charge) for the year
Balance at the end of the year
2011
KD
115,314,965
71,039,745
(59,361,095)
(801,770)
-
(59,417)
(18,760,205)
107,372,223
Impairment loss of KD 2,767,082 (31 December 2011: KD 455,904) 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 6,761,573 (31 December 2011: KD 3,389,445) are pledged against
certain term loans disclosed in note 18.
2012
KD
2,732,376
2,555,187
7,606,660
12,894,223
Quoted:
Equity securities
Unquoted:
Equity securities
Funds and managed portfolios
2011
KD
1,933,622
4,626,679
9,774,316
16,334,617
11. FINANCIAL ASSETS AVAILABLE FOR SALE
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