78 / 95
ANNUAL REPORT
2015
Notes to The Consolidated Financial Statement
AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
31 December 2015
Investment in associate with carrying value of Nil (2014: KD 9,181,630) is collateralised against certain term loans (Note 19).
Investment in associate with carrying value of 9,293,012 (2014: Nil) is collateralised against certain tawarruq payable (Note 20).
The summarized financial information of the associate is as follows:
Movement in the balance of investment in associate is as follows:
2015
KD
54,719,143
(1,741,826)
52,977,317
9,292,221
1,475,604
861,790
151,158
Assets
Liabilities
Net assets
Group's share of net assets
Revenues
Profit for the year
Group's share of results
2014
KD
60,953,158
(8,606,351)
52,346,807
9,181,630
7,906,340
7,317,030
1,283,407
10. INVESTMENT IN ASSOCIATES
Ownership %
Kuwait
9,293,012
First Qatar Real
Estate Development
K.S.C.(Closed)
2014
KD
2015
KD
2015
Country of
Incorporation
Principal
activities
2014
9,181,630
17.54
17.54
Real estate
services
Balance at the beginning of the year
Disposal
Dividend received
Transfer to financial assets available for sale
Share of results
Foreign currency translation adjustments
Balance at the end of the year
2015
KD
9,181,630
-
-
-
151,158
(39,776)
9,293,012
2014
KD
13,350,562
(1,899,268)
(287,019)
(3,213,764)
1,283,407
(52,288)
9,181,630
74