7- Prepaiyments and other receivables Prepayments and other receivables comprises the following at December 31: Description 2014
2013
122,449
Prepaid expenses
57,986
5,509
Advances to suppliers
9,579
8,182
Insurance claims
4,738
1,978
Employee receivables
3,169
23,923
Others
16,668
162,041
92,140
8- Inventories Inventories on board of ships comprises the following at December 31: Description 2014
2013
270,306
Fuel
198,164
51,714
Lubricants
32,462
5,470
Others
2,508
327,490
233,134
9- Accrued bunker subsidy, net Accrued bunker subsidy, net comprises the following at December 31: Description 2014
2013
235,447
Accrued bunker subsidy
146,194
(38,040)
Provision for doubtful bunker subsidy
(22,314)
197,407
123,880
10- Investments in an associated companies The movement of investment in the associated company for the year ended December 31 is as follows: Description 2014 2013 Balance at the beginning of the year 841,985 651,982 Share in results of an associated company* 131,956 291,235 Dividends received during the year (68,183) (96,591) Transferred to a subsidiary company ( note1) - (4,641) Balance at the end of the year 905,758 841,985
* The company’s share of Petredec Limited Company operations includes an unrealized losses of SR 61.71 million as of December 31, 2014 (2013: unrealized gain SR 53.57 million) arising from commodity swaps.
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Annual Report 2014
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