Bahri Annual Report-2011

Financial Statements Report 2011

Notes To The Consolidated Financial Statements For the year ended December 31, 2011 (In Thousands Saudi Riyals)

23. CONSOLIDATION OF SUBSIDIARIES

financial position and results of operations of these subsidiaries as of and for the year ended December 31:

The consolidated financial statements include the financial statements of the Company and its subsidiaries, after eliminating all intercompany balances. Following is a summary of the

2010

Gross operating income

Net (loss) profit

Total assets

Total liabilities

National Chemical Carriers Ltd. Co.

3,647,375 (2,568,479)

151,754

135,435

Mideast Ship Management Ltd.

59,904

(58,120)

40,665

1,608

NSCSA (America) Inc.

10,972

(3,490)

16,864

238

Al-Bahri Company for Bulk Transportation

199,124

(5,288)

-

(6,164)

2010

Gross operating income

Net (loss) profit

Total assets

Total liabilities

National Chemical Carriers Ltd. Co.

2,961,285 (1,917,823)

112,889

92,868

Mideast Ship Management Ltd.

56,615

(40,298)

34,658

268

NSCSA (America) Inc.

12,969

(5,725)

16,955

(1,556)

Al-Bahri Company for Bulk Transportation

200,000

-

-

-

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