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N
otes To The Consolidated Financial Statements
AL MAZAYA HOLDING K.S.C.P. AND ITS SUBSIDIARIES
As At 31 December 2016
ANNUAL REPORT
2016
23. NET INVESTMENT INCOME
Realized gain on disposal of financial assets available-for-sale
Dividend income
Portfolio management fees
Impairment loss on financial assets available-for-sale (Note 12)
Salaries and other short term benefits
Terminal benefits
Share based payment
628,888
382,613
)45,003(
)224,672(
741,826
977,461
59,830
272,682
1,309,973
324
127,075
)61,039(
)54,947(
11,413
1,181,362
71,274
268,693
1,521,329
2016
KD
2016
KD
2016
KD
2015
KD
2015
KD
2015
KD
24. RELATED PARTY TRANSACTIONS
These represent transactions with related parties, i.e. subsidiaries, shareholders, directors and key management
personnel of the Group, and entities controlled, jointly controlled or significantly influenced by such parties.
Pricing policies and terms of these transactions are approved by the Group’s management.
Transactions with related parties included in the consolidated financial statements are as follows:
i) Amounts due from/to related parties are interest free and are receivable/ payable on demand.
ii) Amounts due to related parties comprise an amount of KD 116,461 (31 December 2015: KD 1,575,937) which
represents an advance received for partial disposal of a subsidiary.
Compensation for board members and other key management members for the year are as follows:
The Group granted share based payment to its senior executives with more than 6 months’ service over a vesting
period of 3 years from the grant date.
During the year ended 31 December 2016, the Parent Company recognised an expense of KD 272,682 (December
2015: KD 268,693) relating to equity-settled share-based payment transactions to its employees. Certain employees
exercised 1,504,708 shares that were issued from treasury shares held by the Group.
16,356
761,101
-
1,184,979
16,356
761,101
-
1,184,979
1,539,780
1,645,413
11,933,090
-
-
-
-
-
Consolidated statement of financial position:
Accounts receivable and other debit
balances (Note 14) (Note i)
Accounts payable and other credit
balances (Note 21) (Note i and ii)
Advances for purchase of properties
Consolidated statement of income:
Gain on sale of a subsidiary (Note 32)
Major
shareholders
KD
Joint venture and
associate
KD
115