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ANNUAL REPORT
2016
N
otes To The Consolidated Financial Statements
AL MAZAYA HOLDING K.S.C.P. AND ITS SUBSIDIARIES
As At 31 December 2016
The average cost rate attributable to tawarruq payable is 4.70% (2015: 4.83%). The cost rate attributable to ijara
payable is 3.75% (2015: 3.75%).
Certain assets with carrying value of KD 60,502,340 (2015: KD 58,079,340) are collateralised against Tawarruq
payable (Note 9, 11 and 12).
Certain shares in a subsidiary with a fair value of KD 41,819,968 (2015: KD 32,564,728) are pledged against
tawarruq payable maturing on 31 December 2018. Also, certain treasury shares are pledged as collateral against
tawarruq payable (Note 18).
Certain investment properties with carrying value of KD 33,060,275 (2015: KD 32,443,880) are collateralised
against ijara payable (Note 9).
20. TERM LOAN
Term loans are denominated in Euro and USD and carries effective interest rate of 5.68%.
21. ACCOUNTS PAYABLE AND OTHER LIABILITIES
22. NET MANAGEMENT FEES AND COMMISSION INCOME
Trade payables
Retentions payable
Accrued development costs
Dividends payable
Due to related parties (Note 24)
Deferred tax liability
Other payables and accrued expenses
Management fees and commission income
Cost of management fees and commission income
12,237,065
2,136,448
59,973
246,961
761,101
1,004,131
3,430,736
19,876,415
304,639
)59,096(
245,543
8,837,008
1,267,692
59,974
211,192
1,645,413
-
3,878,957
15,900,236
477,064
)98,234(
378,830
2016
KD
2016
KD
2015
KD
2015
KD
114