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AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
JUNE 30, 2022
(All amounts are in Kuwaiti Dinars)

December 31, 2021 (Audited)
Level 2 Level 3 Total
Financial assets at fair value through profit or loss - 394,447 394,447
Financial assets at fair value through other
comprehensive income 1,455,048 8,913,947 10,368,995
Investment properties (a) 45,122,473 115,957,702 161,080,175
46,577,521 125,266,096 171,843,617

June 30, 2021
Level 2 Level 3 Total
Financial assets at fair value through profit or loss - 375,401 375,401
Financial assets at fair value through other
comprehensive income 1,559,194 9,543,204 11,102,398
Investment properties 47,134,692 119,486,667 166,621,359
48,693,886 129,405,272 178,099,158

a) Investment properties include all properties listed under properties held for sale.

There were no transfers between Level 2 and Level 3 during the period.

15. Significant Impact of COVID-19
The recent outbreak of the coronavirus (“COVID-19”) across various geographies globally since end of year 2019 up
till now, which was declared a pandemic by the World Health Organization, has caused disruption to business and
economic activities. The fiscal and monetary authorities around the world, including Kuwait, have announced various
support measures to counter the possible adverse implications of COVID-19. The Group has taken several measures
to manage its risk associated with the pandemic, including identification of the most vulnerable sectors primarily affected
and placing added measures to ensure a high level of scrutiny. The uncertainties caused by COVID-19 required the
Group to consider the impact of volatility in the forward-looking macro-economic factors in order to manage the credit
risk and liquidity risk and to determine the impact of COVID-19 consequences on the fair value measurement of financial
and non-financial instruments in order to reflect that impact in the consolidated financial statements since the pandemic
outbreak and till the accompanied interim consolidated financial information date.

The Group has performed an assessment on its ability to continue as a going concern considering current economic
conditions and all available information about future risks and uncertainties. The projections have been prepared to
cover the Group’s future performance, capital and liquidity requirements. The impact of COVID-19 may continue to
evolve, but currently, the projections show that the Group has the required resources to continue in operations on a
going concern, such position that remains significantly unaffected and unchanged since December 31, 2021. As a
result, those interim consolidated financial information have been prepared on a going concern basis.

The Group had concluded that no material adjustments are required for liabilities and other assets as of the
accompanied interim consolidated financial information. The management will need to carefully consider the
measurement and recognition requirements for impairment losses on the Group's assets in the future, as the extent
and duration of the economic impact of those events remains uncertain, since it depends on future developments that
cannot be accurately predicted at this time, such as the rate of virus spread, the effectiveness of the containment
measures taken and the trends and effectiveness of approved vaccinations by governmental authorities across the
world. Given the ongoing uncertainty for the related economic impact, a reliable estimate of the impact cannot be
currently made, but it may affect financial statements in future periods. The impact’s magnitude and amount may vary
according to the extent and period during which those events are expected to end along with their effects.

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