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ANNUAL REPORT
2015
Notes to The Consolidated Financial Statement
AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
31 December 2015
Certain assets with carrying value of Nil (31 December 2014: KD 11,977,922) were collateralized against the term loans (Note
8 and 11).
Shares of a listed subsidiary company with a fair value of Nil (31 December 2014: KD 7,750,000) and investment in associate with
a carrying value of Nil (31 December 2014: KD 9,181,630) were collateralized against the term loans.
20. TAWARRUQ AND IJARA PAYABLE
The average cost rate attributable to tawarruq payable is 4.83% (2014: 4.5%). The cost rate attributable to ijara payable is 3.75%
(2014: 3.8%).
Certain assets with carrying value of KD 58,079,340 (2014: KD 19,625,000) are collateralised against Tawarruq payable (Note
8,10 and 11).
Certain shares in a subsidiary with a fair value of KD 32,564,728 (2014: KD 42,510,191) 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 32,443,880 (2014: KD 31,193,139) are collateralised against ijara payable
(Note 8).
2015
KD
2015
KD
60,771,791
19,594,655
80,366,446
70,999,066
(10,227,275)
60,771,791
53,426,809
7,344,982
60,771,791
24,159,762
(4,565,107)
19,594,655
18,560,093
1,034,562
19,594,655
Tawarruq payable
Ijara payable
Tawarruq payable
Gross amount
Less: deferred profit payable
Non- current
Current
Ijara payable
Gross amount
Less: deferred profit payable
Non-current
Current
2014
KD
2014
KD
32,288,514
19,970,000
52,258,514
79
37,345,053
(5,056,539)
32,288,514
28,883,513
3,405,001
32,288,514
25,365,350
(5,395,350)
19,970,000
19,370,900
599,100
19,970,000