The National Shipping Company of Saudi Arabia
60/61
v) Segment reporting Business segment A business segment is group of assets, operations or entities:
3. CASH AND CASH EQUIVALENTS Cash and cash equivalents as of December 31, 2011 represent cash in hand and at banks, Murabaha and short-term deposits, out of which SR 0.03 million (2010: SR 0.03 million) is subject to bank restrictions for letters of guarantee issued for the Jeddah Islamic Port. It also includes SR 33.3 million as of December 31, 2011 (2010: SR 36.77 million) restricted for repayment of current portion of Murabaha financing and long-term loans maturing within 180 days from the balance sheet date.
It also includes SR 0.57 million as of December 31, 2011 which represents restricted bank balances (2010: SR 0.61 million) related to Mideast Ship Management Ltd., and SR 0.54 million which represents restricted bank balances (2010: SR 0.54 million) related to National Shipping Company of Saudi Arabia (America) Inc. For the purpose of preparing the statement of cash flows, cash and cash equivalents as of December 31 comprises the following:
engaged in revenue producing activities;
results of its operations are continuously analyzed by management in order to make decisions related to resource allocation and performance assessment; and
financial information is separately available.
2011
2010
Cash in hand and at banks
144,798
108,713
Amounts restricted by banks
)16,563(
)18,226(
128,235
90,487
Investment in Murabaha and short-term deposits
274,469
1,014,559
Amounts restricted by banks
)17,884(
)19,697(
256,585
994,862
384,820
1,085,349
Balance at the end of the year
4. INVESTMENTS IN MURABAHA AND SHORT-TERM DEPOSITS
Investments in Murabaha and short-term deposits at December 31 comprise the following:
2011
2010
Investments in Murabaha and short-term deposits in Saudi riyals
200,031
559,163
Investments in Murabaha and short-term deposits in USD
34,691
376,254
Investments in Murabaha and short-term deposits in AED
39,747
75,365
Investments in Murabaha and short-term deposits in EURO
---
3,777
274,469
1,014,559
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