ZaraAnnual-English2016

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ZARA INVESTMENT (HOLDING) COMPANY P.S.C CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2016 Operating Activities Notes 2016 2015 JD JD Profit (loss) before income tax 3,474,764 (984,780) Adjustments for Depreciation 11,542,160 13,911,126 Dividends income (80,119) (36,418) Loss (gain) on sale and disposal of property and equipment 6,361 (12,000) Finance costs 1,279,457 1,814,287 Interest income (178,482) (242,807) (Recovery) Provision for doubtful accounts, net (171,494) 272,755 Other provisions 778,011 155,629 Provision for projects in progress 18,369 - Changes in working capital Inventories 98,272 93,368 Accounts receivable (386,684) 1,133,677 Other current assets 894,189 548,813 Accounts payable 1,857,628 (797,342) Other current liabilities 107,420 (667,560) Other provisions paid (297,111) (137,924) Income tax paid (750,515) (552,450) Net cash flows from operating activities 18,192,226 14,498,374 64
Investing activities Notes 2016 2015 JD JD Purchase of property and equipment (3,567,254) (1,870,648) Proceeds from sale and disposal of property and equipment 40,685 25,042 Purchase of investment properties (1,900) (5,863) Projects in progress (772,005) (812,583) Contractors’ retentions (2,472) 1,910 Dividends income received 80,119 36,418 Interest income received 178,482 242,807 Net cash flows used in investing activities (4,046,148 (2,382,917) Financing Activities Increase in paid - in capital - 1,743,411 Capital increase expenses - (209) Repayments of loans (12,032,826) (12,032,825) Loan Received 265,500 - The accompanying notes from 1 to 34 form part of these consolidated financial statements Annual Report 2016 65
Page 1 and 2:
Zara Investment (Holding) Company P
Page 3 and 4:
CONTENTS 4 7 10 14 Names of members
Page 5 and 6:
Yassin Khalil “Mohammad Yassin”
Page 7 and 8:
MESSAGE TO OUR SHAREHOLDERS Welcome
Page 9 and 10:
On behalf of the board of directors
Page 11 and 12:
NUMBER OF ROOMS IN FIVE-STAR HOTELS
Page 13 and 14: Annual Report 2016 13
Page 15 and 16: 2.B SUBSIDIARIES SUBSIDIARY PAID UP
Page 17 and 18: DOB DEGREE GRAD. DATE PROFESSION ME
Page 19 and 20: NAME POSITION Professional Experien
Page 22 and 23: COMPANY’S COMPETITIVE POSITION LA
Page 24 and 25: 9.B NUMBER OF COMPANY EMPLOYEES AND
Page 26: #Sustainable_Tourism_Jo shaumari.ad
Page 29 and 30: JORDAN HOTELS AND TOURISM COMPANY,
Page 31 and 32: AMMAN TOURISM INVESTMENT COMPANY, O
Page 33 and 34: RED SEA HOTELS COMPANY, OWNER OF M
Page 35 and 36: 12. FINANCIAL IMPACT OF NON-RECURRI
Page 37 and 38: Mövenpick Resort & Spa Dead Sea An
Page 39 and 40: Annual Report 2016 39
Page 41 and 42: 16. AUDIT FEES PAID BY THE COMPANY
Page 43 and 44: NUMBER OF SHARES AS OF NUMBER OF SH
Page 45 and 46: 18.A REMUNERATIONS OF THE CHAIRMAN
Page 47 and 48: COMPANY’S CONTRIBUTION TOWARDS EN
Page 49 and 50: 22. CORPORATE GOVERNANCE The Compan
Page 51 and 52: OUR SOURCE OF BUSINESS %8 %35 %57 O
Page 53 and 54: General Assembly Annual Meeting 201
Page 55 and 56: INDEPENDENT AUDITOR’S REPORT To t
Page 57 and 58: · Identify and assess the risks of
Page 59 and 60: Notes 2016 2015 EQUITY AND LIABILIT
Page 61 and 62: ZARA INVESTMENT (HOLDING) COMPANY P
Page 63: holders of the parent Cumulative ch
Page 67 and 68: liabilities of the subsidiary •De
Page 69 and 70: Fair value Fair value is the price
Page 71 and 72: The carrying values of deferred inc
Page 73 and 74: Machinery and equipment Furniture a
Page 75 and 76: Movements on projects in progress a
Page 77 and 78: 8 Cumulative Change in Fair Value M
Page 79 and 80: As at 31 December, the aging of uni
Page 81 and 82: 15 Long-Term Loans This item consis
Page 83 and 84: annual interest rate of 1.6% plus L
Page 85 and 86: 19 Segment Information The primary
Page 87 and 88: 2015 - Hotels Segment Other Segment
Page 89 and 90: 22 Non-controlling Interests This i
Page 91 and 92: 24 Basic and Diluted Earnings (Loss
Page 93 and 94: Balances of related parties include
Page 95 and 96: Oasis Hotels Co. LLC Zara Agricultu
Page 97 and 98: Oasis Hotels Co. LLC Zara Agricultu
Page 99 and 100: Credit risk Credit risk is the risk
Page 101 and 102: IFRS 15 Revenue from Contracts with
Page 103: Board Declarations 1. The Board of
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