NIG Prospectus - London Stock Exchange

Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:20 pm – mac5 – 3776 Section 10c : 3776 Section 10cConsolidated balance sheetRestated31 Dec. 31 Dec.Note 200511112200411112KD ‘000 KD ‘000AssetsNon-current assetsGoodwill........................................................................................ 9 9,776 25,060Property, plant and equipment .................................................... 10 26,406 32,448Investment in associates.............................................................. 11 120,911 62,628Investment in joint ventures ........................................................ 12 253 762Investment properties .................................................................. 13 2,267 2,556Available for sale investments...................................................... 14 368,451 125,048Deferred tax.................................................................................. 15 –111121,41111112Total non-current assets ............................................................ 528,06411112249,91311112Current assetsInventories .................................................................................. 16 23,730 26,733Accounts receivable and other assets ........................................ 17 126,720 30,546Wakala investment ...................................................................... 18 – 2,802Investments at fair value through statement of income.............. 19 386,741 222,825Short-term deposits...................................................................... 34,993 14,007Bank balances and cash .............................................................. 8,712111124,68611112Total current assets .................................................................... 580,89611112301,59911112Total assets ................................................................................ 1,108,960 551,51211112 1111211112 11112Equity and liabilitiesEquity attributable to shareholders of the parent companyShare capital 746,741,208 issued and fully paid shares of100 Kuwaiti Fils each (31 December 2004 : 706,182,103) ...... 20 74,674 70,618Treasury shares ............................................................................ 21 (16,800) (1,075)Staff bonus shares ...................................................................... 22 – 500Reserves ...................................................................................... 23 115,639 93,078Cumulative changes in fair value.................................................. 202,342 24,933Retained earnings ........................................................................ 247,77711112103,75811112623,632 291,812Minority interest ........................................................................ 49,8781111223,98511112Total equity ................................................................................ 673,510 11112315,79711112Non-current liabilitiesBonds payable .............................................................................. 24 17,527 52,685Long-term borrowings .................................................................. 25 98,141 45,593Leasing creditors .......................................................................... 1,028 2,086Deferred tax.................................................................................. 15 761 –Provisions .................................................................................... 26 11,533111128,47111112Total non-current liabilities........................................................ 128,99011112108,83511112Current liabilitiesAccounts payable and other liabilities .......................................... 27 42,249 32,117Bonds payable .............................................................................. 24 35,000 –Short-term borrowings ................................................................ 28 212,084 82,990Due to banks ................................................................................ 29 17,1271111211,77311112Total current liabilities................................................................ 306,46011112126,88011112Total equity and liabilities ........................................................ 1,108,960 551,51211112 1111211112 11112The notes set out on pages 9 to 34 form an integral part of these consolidated financial statements.F-50