22- other (expenses) income, net Other income (expenses), net for the year ended December 31 comprises the following: 2014
2013
3,096
Gains from sale of fixed assets
75,496
(2,386)
Net gain from investments
18,452
2,290
Increase recoveries from insurance claims
6,649
Cancellation of building ships under construction settlement (Note 14)
-
16,316
-
Vessel repair settlement (note 19)
5,242
Decline other than temporary in investment available for sale
-
(17,667)
(4,053)
Others
3,223
(1,053)
107,711
23- Capital contingent liabilities The Group has capital commitments relating to building of Rocon Ships as at 31 December 2014 amounting to Nil (2013: 67 million). The capital commitments of subsidiary companies to build chemical tankers and ships specialized in dry bulk trans- portation at December 31, 2014 amounted SR nil (2013: SR 27 million). The Group has outstanding letters of guarantee of SR 275.59 million as at December 31, 2014 (2013: SR 236.90 million) issued during the normal course of business.
The Group is involved in litigation matters during the ordinary course of business, which are being defended. Where the ul- timate results of these matters cannot be determined with certainty, the management does not expect that they will have a material adverse effect on the Group’s consolidated results of operations or its financial position.
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Annual Report 2014
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