Consolidated Financial Statements
3. Cash and cash equivalents Cash and cash equivalents as of December 31, 2010 represent cash in hand and at banks, Murabaha and short-term deposits, out of which SR 0.03 million (2009: SR 0.43 million) are subject to bank restrictions for letters of guarantee issued for the DZIT and other parties. It also includes SR 36.77 million as of December 31, 2010 (2009: SR 22.55 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 0.61 million as of December 31, 2010 which represents restricted bank balances (2009: SR 0.51 million) related to Mideast Ship Management Ltd., and SR 0.54 million which represents restricted bank balances (2009: 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:
2010
2009
Cash in hand and at banks
108,713
78,545
Amounts restricted by banks
(18,226) (14,183) 90,487 64,362 1,014,559 707,112 (9,856) 994,862 697,256 1,085,349 761,618 (19,697)
Investment in Murabaha and short-term deposits
Amounts restricted by banks
4. Investments in MURABAHA and short term deposits Investments in Murabaha and short-term deposits at December 31 comprise the following: 2010 2009 Investments in Murabaha and short-term deposits in Saudi riyals 559,163 455,130 Investments in Murabaha and short-term deposits in USD 376,254 246,504 Investments in Murabaha and short-term deposits in AED 75,365 --- Investments in Murabaha and short-term deposits in EURO 3,777 5,478 1,014,559 707,112
The National Shipping Company of Saudi Arabia Annual Report 2010
61
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