2012 Annual Report - Financial Statements (English) - Khaleeji ...

KHALEEJI COMMERCIAL BANK BSCNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSfor the year ended 31 December 2012 | BD 000’s7. ASSETS ACQUIRED FOR LEASINGProperty2012Property andEquipment2011CostAt 1 January 15,316 10,825Additions during the year 13,199 8,113Settlements / adjustments during the year (2,224) (3,622)At 31 December 26,291 15,316Accumulated depreciationAt 1 January 3,604 4,846Charge for year 3,973 1,944Settlements during the year (2,224) (3,186)At 31 December 5,353 3,604Net book value at 31 December 20,938 11,712At 31 December 2012, accrued lease rental receivable amounted to BD 3,035 thousand (2011: BD 1,946 thousand). Lease rental receivableis net of collective provision of BD 242 thousand (2011: BD 136 thousand).Of the total net book value of assets acquired for leasing consumer financing amounted to BD 18,469 thousand (2011: BD 9,054 thousand).8. INVESTMENT IN ASSOCIATES2012 2011At 1 January 3,000 4,226Share of losses for the year (113) (1,226)At 31 December 2,887 3,000Investment in associates comprise:Name Country of incorporation % holding Nature of businessCapital Real Estate ProjectsCompany BSC (c)Bahrain 30.0% Real estate holding and developmentAmlak II SPV Cayman Islands 23.1% Purchase and sale of real estate in BahrainSummarised financial information of associates that have been equity accounted not adjusted for the percentage ownership held by theGroup (based on their most recent unaudited management accounts):2012 2011Total assets 12,731 21,406Total liabilities 2,345 8,192Total revenues 2,978 631Total net losses (209) (4,626)Consolidated Financial Statements33