Consolidated Financial Statements
LIABILITIES AND EQUITY
Current liabilities:
Notes
2009
2008
Accounts payable and other credit balances
12 13
214,454 246,793
303,779 225,362 71,250 23,430
Current portion of Murabaha financing and long-term loans
Short-term Murabaha finance
-
Unclaimed dividends
22
29,189
Agents’ current accounts, payables
569
3,435
Provision for zakat and tax Incomplete voyages Total current liabilities Non-current liabilities:
14
118,786
183,086
-
7,384
609,791
817,726
Murabaha financing and long-term loans
13
4,516,180
3,709,941
Obligation from fluctuations in swap fair market value for loans commission rates
3,530
5,024
Tax obligation provision
14
-
4,000
Employees’ end of service benefits provision
31,444
28,864
Total non-current liabilities
4,551,154 5,160,945
3,747,829 4,565,555
Total liabilities Equity: Shareholders’ equity Paid-up share capital
3,150,000
3,150,000
Share premium Statutory reserve Retained earnings
15 15
---
524,416 240,824
802,170
1,037,273
1,177,403
Hedging reserve for loans commission
16
(3,530)
(5,024)
Unrealized gain from available for sale investments
1,607
3,177
Total shareholders’ equity
4,987,520
5,090,796
Minority interest
190,119
163,075
Total equity
5,177,639 10,338,584
5,253,871 9,819,426
Total liabilities and equity
In Thousands Saudi Riyals
The accompanying notes from (1) to (27) form an integral part of these consolidated financial statements
42
Annual Report 2009 The National Shipping Company of Saudi Arabia
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