Page 20 - Mazaya Holding_FS_E_Q3_2021

AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
SEPTEMBER 30, 2021
(All amounts are in Kuwaiti Dinars)

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, 2020. 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.

16