Mazaya Holding_FS_E_Q1_2021

AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES NOTES TO INTERIM CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED) MARCH 31, 2021 (All amounts are in Kuwaiti Dinars) 14 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.