Bahri Annual Report-2012

The National Shipping Company of Saudi Arabia (A Saudi Joint Stock Company) Notes to the Consolidated Financial Statements As of December 31, 2012 (in Thousands of Saudi Riyals)

3. Cash and Cash Equivalents Cash and cash equivalents as of December 31, 2012 represent cash in hand and at banks and Murabaha and short-term deposits, including amounts subject to bank restrictions for letters of guarantee issued for the Jeddah Islamic Port (2012: SR nil and 2011: SR 0.03 million). It also includes SR 76.73 million as of December 31, 2012 (2011: SR 33.3 million) restricted for repayment of loan installments falling due within 180 days from the balance sheet date. It also includes restricted cash of SR 0.57 million as of December 31, 2012 (2011: SR 0.57 million) in respect of Mideast Ship Management Ltd., and SR 0.54 million as of December 31, 2012 (2011: SR 0.54 million) in respect of The 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:

2012

2011

Cash in hand and at banks

99,605

144,798

Amounts restricted by banks

(10,657)

(16,563)

88,948

128,235

Investment in Murabaha and short-term deposits

292,656

274,469

Amounts restricted by banks

(67,184)

(17,884)

225,472

256,585

Cash and cash equivalents balance at the end of the year

314,420 384,820

4. Investments in Murabaha and Short-Term Deposits

2012

2011

Investments in Murabaha and short-term deposits in Saudi Riyals

86,930

200,031

Investments in Murabaha and short-term deposits in USD

203,684

34,691

Investments in Murabaha and short-term deposits in AED

2,042

39,747

Total

292,656 274,469

86

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