ZaraAnnual-English2016

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2015 Jordan Hotels and Tourism Co. PSC Jordan Himmeh Mineral Co. PSC Rum Hotels and Tourism Co. LLC Group’s ownership percentage 51.6% 55.8% 75% Country of incorporation and operation Jordan Jordan Jordan Accumulated balance of non-controlling interests (JD) 14,811,885 465,503 51,564 Non-controlling interests share of profit (loss) (JD) 1,102,308 (9,713) (788) JD JD JD Condensed statement of financial position Current assets 5,511,681 524,298 5,569 Non-current assets 29,412,329 687,855 470,343 Current liabilities (2,609,532) (159,521) (269,075) Non-current liabilities (1,683,334) - (581) Equity 30,631,144 1,052,632 206,256 Attributable to: Shareholders of the parent 15,819,259 587,129 154,692 Non-controlling interests 14,811,885 465,503 51,564 Condensed statement of profit or loss Revenues 23,504,147 - - Expenses (20,773,911) (38,042) (3,102) Other revenues 252,454 16,079 - Finance cost (164,131) - (49) Profit (loss) before income tax 2,818,559 (21,963) (3,151) Income tax expense (538,974) - - Profit (loss) for the year 2,279,585 (21,963) (3,151) Other comprehensive income 2,279,585 (21,963) (3,151) Attributable to non-controlling interests 1,102,308 (9,713) (788) Profit distributions to non-controlling interests 725,335 - - Condensed statement of cash flows Operating activities 6,351,498 (31,504) (3,096) Investing activities (333,334) 11,024 - Financing activities (3,338,020) 21,504 5,050 Net increase (decrease) in cash and cash equivalent 2,680,144 1,024 1,954 96
Oasis Hotels Co. LLC Zara Agricultural Co. LLC South Coast Real Estate Development Co. LLC South Coast Hotels Co. LLC Zara South Coast Development Co. LLC 92.2% 54.3% 82% 82% 84.8% Jordan Jordan Jordan Jordan Jordan 50,303 59,995 1,744,791 726,503 2,804,313 (1,103) 2,582 (1,262) (985) (374,213) JD JD JD JD JD 214,874 119,192 5,450,930 1,963,035 3,063,070 532,788 17,733 4,856,662 2,076,174 25,263,090 (1,731) (5,760) (613,727) (1,629) (7,370,674) (102,053) - (581) (1,454) (2,528,571) 643,878 131,165 9,693,284 4,036,126 18,426,915 593,575 71,170 7,948,493 3,309,623 15,622,602 50,303 59,995 1,744,791 726,503 2,804,313 - 176,700 - - 9,781,658 (5,554) (169,660) (6,983) (5,353) (11,810,029) - 15 19 3 76,492 (8,573) - (49) (122) (507,042) (14,127) 7,055 (7,013) (5,472) (2,458,921) - (1,411) - - - (14,127) 5,644 (7,013) (5,472) (2,458,921) (14,127) 5,644 (7,013) (5,472) (2,458,921) (1,103) 2,582 (1,262) (985) (374,213) - - - - - (4,611) 11,637 (6,209) (5,166) 2,658,005 - 15 - - (477,441) 5,195 24,908 7,997 6,938 (1,944,694) 584 36,560 1,788 1,772 235,870 Annual Report 2016 97
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Zara Investment (Holding) Company P
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CONTENTS 4 7 10 14 Names of members
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Yassin Khalil “Mohammad Yassin”
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MESSAGE TO OUR SHAREHOLDERS Welcome
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On behalf of the board of directors
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NUMBER OF ROOMS IN FIVE-STAR HOTELS
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Annual Report 2016 13
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2.B SUBSIDIARIES SUBSIDIARY PAID UP
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DOB DEGREE GRAD. DATE PROFESSION ME
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NAME POSITION Professional Experien
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COMPANY’S COMPETITIVE POSITION LA
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9.B NUMBER OF COMPANY EMPLOYEES AND
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#Sustainable_Tourism_Jo shaumari.ad
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JORDAN HOTELS AND TOURISM COMPANY,
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AMMAN TOURISM INVESTMENT COMPANY, O
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RED SEA HOTELS COMPANY, OWNER OF M
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12. FINANCIAL IMPACT OF NON-RECURRI
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Mövenpick Resort & Spa Dead Sea An
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Annual Report 2016 39
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16. AUDIT FEES PAID BY THE COMPANY
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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 and 64: holders of the parent Cumulative ch
Page 65 and 66: Investing activities Notes 2016 201
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: 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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