ARABIAN FAL HOLDING COMPANY

(LIMITED LIABILITY COMPANY)

BALANCE SHEET
As of December 31, 2015
(Expressed in Saudi Arabian Riyals)

Notes 2015 2014

Assets
Current Assets
Cash and Cash equivalents (4) 293,265,656 108,304,337
Accounts Receivables - Net 183,319,126 131,200,933
Inventories 113,517 39,520
Due from related parties 69,720,125 60,088,050
Other debit balances (5) 76,291,032 80,216,952
Total Current Assets 622,709,456 379,849,792
Non current Assets:
Investments (6) 149,158,485 74,126,485
Property, plant and equipment (7) 754,084,863 676,583,453
Projects under construction (8) 54,854,079 51,620,918
Total Assets 1,580,806,883 1,182,180,648

LIABILITIES & SHAREHOLDERS' EQUITY

Current Liabilities
Accounts payable 1,909,742 2,106,447
Current maturity of Long term borrowings 104,534,119 24,299,393
Other credit balances (9) 1,192,019 1,055,918
Total Current liabilities 107,635,880 27,461,758
Non Current liabilities:
Long term Borrowings (10) 286,412,451 57,142,857
Employee termination benefits (11) 6,465,872 5,878,849
Total non current liabilities: 292,878,323 63,021,706
TOTAL LIABILITIES 400,514,203 90,483,464

Equity
Capital (12) 1,000,000 1,000,000
Statutory reserve 500,000 500,000
Partners' current account 11,447,351 44,579,547
Capital reserve (13) 167,506,912 167,506,912
Unrealized losses on available for sale securities (5,347,252) (5,347,252)
Retained earnings 1,005,185,669 883,457,977
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 1,180,292,680 1,091,697,184
1,580,806,883 1,182,180,648

2
ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
INCOME STATEMENT
for the Year ended December 31, 2015
(Expressed in Saudi Arabian Riyals)

Notes 2015 2014

Net revenue (14) 502,436,819 485,432,766

Cost of revenue (309,882,457) (305,150,392)
Gross profit 192,554,362 180,282,374

Operating Expenses:
General & administrative (15) 61,528,342 56,851,926
Depreciation of fixed assets (07) 6,762,016 4,247,530
Financial charges 4,362,359 2,200,411
Total expenses from operations (72,652,717) (63,299,867)

Net Income from main operations 119,901,645 116,982,507

Other Income (expenses): 1,826,047 1,397,063

Gains and other earnings - (338,248)
(Losses) and other expenses 1,826,047 1,058,815

net Income for the year 121,727,692 118,041,322

The notes from 1 to 23 form as integral part of these financial statement

3
ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
CASH FLOW STATEMENT
for the Year ended December 31, 2015
(Expressed in Saudi Arabian Riyals)

Notes 2015 2014

Cash flow from operating activities:

Net Income 121,727,692 118,041,322

Adjustments to reconcile net Income to cash provided by operations:

Depreciation 39,588,700 28,000,269
Provision for end of service indemnities (587,023) (895,711)
Changes in working capital:
Accounts receivable (52,118,193) (34,278,032)
Inventories (73,997) 658,391
Due from related parties (9,632,075) (60,088,050)
Other debit balances (1,783,258) (15,304,460)
Accounts payable 196,705 (817,455)
Other credit balances (136,101) (4,437,252)
Net cash flow generated from operating activities 97,182,450 30,879,022

Cash flow from Investing activites:

Purchase (sale) of Property, plant and equipment (77,501,410) (48,322,406)
Projects under construction (3,233,161) (5,156,917)
Investments (75,032,000) 5,347,252
Net cash flow (Utilized in) Investing activities (155,766,571) (48,132,071)

Cash flow from Financing activities: 276,677,636 19,733,917

Change in loans (33,132,196) (10,476,333)
Change in partners' current account & Unrealized losses on available for sate securities 243,545,440 9,257,584
Net cash flow generated from financing activities 184,961,319 (7,995,465)
Net cash and cash equivalents for the year 108,304,337 116,299,802
Cash and cash equivalents at beginning of the year 293,265,656 108,304,337
Cash and cash equivalents at end of year

The notes from 1 to 23 form as integral part of these financial statement

ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
As of December 31, 2015
(Expressed in Saudi Arabian Riyals)

Unrealized
Partners' Total
Paid Up Statutory Capital losses on
current Retained earnings Shareholders'
Capital Reserve reserve available for
account equity
sale securities

Balance as of January 1, 2014 1,000,000 500,000 44,579,547 167,506,912 (5,347,252) 883,457,977 1,091,697,184
Net Income for the Year - - - - - 118,041,322 108,014,474
Changes in partners' current account - - (5,129,081) - - - 9,547,804
Balance for the year ended December 31, 2014 1,000,000 500,000 39,450,466 167,506,912 (5,347,252) 1,001,499,299 1,209,259,462
Balance as of January 1, 2015 1,000,000 500,000 39,450,466 167,506,912 (5,347,252) 1,001,499,299 1,209,259,462
Net Income for the year - - - - - 121,727,692 118,041,322
Unrealized losses on available for sale securities - - - - - - (5,347,252)
Changes in partners' current account - - (33,132,196) - - - (5,129,081)
Balance for the year ended December 31, 2015 1,000,000 500,000 6,318,270 167,506,912 (5,347,252) 1,123,226,991 1,316,824,451

The notes from 1 to 23 form as integral part of these financial statement

5
ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
CASH FLOW STATEMENT
As of December 31, 2015
(Expressed in Saudi Arabian Riyals)

1 ESTABLISHEMENT AND ACTIVITY

ARABIAN FAL HOLDING COMPANY is a Limited Liability Company that was incorporated vide the
commercial registration No2054000398 issued on 19/10/1400 AH. Corresponding to 29/08/ 1980 AD

The subscibed and paid up capital amounted to SR1,000,000 divided to 10,000 each share has a par
value of SR100.

The company is engaged in Participating companies by enabling them to control and general contracting,
building construction, electrical and communications networks, mechanical, industrial and maintenance,
operation and construction of water and sanitation and to extend the pipeline, oil and transport,
assemply and export of oil hydrocarbons recoved and real estate development and purchase of land
for the construction of building and investing them by sale or lease.

The company was incorporated in accordance with the compaanies' regulations issued by the Royal
Decree no. M/6 dated 22/3/1385AH and its amendments based on the Ministerial Resolution No. 433
dated Jumada Alawal 10, 1408 AH after being licensed vide the Ministerial Resolution No. 262 dated
Rabia Alawal 18, 1408 AH.
The Head office of the company is located in RAS TANURA-RAHIMA city, whereas it can b transferred to
any other cities within the Kingdom if decided so by the extraordinary general assembly. The board of
directors of the company has the virtye to establish branches, agencies, offices or showrooms inside or
outside the Kingdom of Saudi Arabia Whenever found to be necessary to serve the company's interest

The duration of the company is 50 Years. The duration of the company can be prolonged upon
agreement of the partners.

The company's fiscal year starts on 1st. December of the same year.

1 BASIS OF ACCOUNTING, PREPARATION & PRESENTATION OF FINANCIAL STATEMENTS

2-1 Basis of Preparation

The financial stements have been prepared on accrual basis under the historical cost convention and in
accordance with generally accepted accounting principles. The Financial statements have been presented
In accordance with the accounting standards issued by SOCPA.

2-2 Accounting convention

The financial stements of the company are prepared in accordance with the principle of historical cost
in proving its assets and liabilities according to the accrual basis of accounting.

6
ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
CASH FLOW STATEMENT
As of December 31, 2015
(Expressed in Saudi Arabian Riyals)

3 SIGNIFICANT OF ESTIMATESSIGNIFICANT OF ESTIMATES

3-1 Use of Estimates

The preparation of financial statement in conformity with generally accepted accounting principles requires
the use of certain critical estimates and assumptions that affect the reported amount of assets and liabilities
and disclosure of contingent assets and liabilities at the reporting date of the financial statements and the
reported amount of the revenues and expenses during the reporting period. Extimates and judgments are
continually evaluated and are based on historical experience and other factors, including expectations of
future events that are believed to be reasonable under the circumstances. The company makes extimates and
assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the
related actual results.

3-2 Cash and Cash equivalents

for the purpose of the statement cash flows, cash flows, cash and cash equivalents consist of cash in hand,
bank balances and short term deposits with and original maturity of three months or les.

3-3 Accounts receivable

Accounts receivable are stated at original invoices amount less an allowance for any uncollectible amounts. An
estimate for doubtful debts is made when collection of the full amount is no longer probable. Bad debts are
written off as incurred.

3-4 Inventories
Inventories are stated at the lower of cost or net realizable value. Cost determined using weighted average
method. Net realizable value is the estimated selling price in the ordinary course of business less the cost of
completion and selling expenses.

3-5 Transaction with related parties:

Related parties are the companies &organizations that are owned (Partly or wholly) by the major partners of
the company or their close relatives, the prices & conditions of the transactions are set according to preferable
prices which the magement agrees on.

3-6 Fixed assets

Property, plant and equipment are stated at cost less accumulated depreciation and impairment, except
construction in progress which is stated at cost. Land is not depreciated. Depreciation is charged to the income
statement, using the straight line method, to allocate the costs of the related assets to their residual values
over the following estimated useful lives.

Building 3-5%
Tools & Equipment 10%
Motor Vehicles 20-25%
Furniture & Fixtures 10-20%
Machinery and Equipment 10-20%
Prefabricated Units 10-20%

Gains and Losses on Disposals by comparing proceeds with carrying amount and are included
in the income statement
7
ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
CASH FLOW STATEMENT
As of December 31, 2015
(Expressed in Saudi Arabian Riyals)

Maintenance and normal repairs which do not materially extended the estimated useful life of an assets are charged to the
income statement as and when incurred. Major renewals and improvements, if any, are capitalized and the assets so
replaced are retired.

3-7 Investments

Investment in trading portfolios

Investments in trading portfolios are evaluated at the end of each financial period(fiscal period), on the basis of fair value.
Movements in fair value are reported directly in the income statement

Investments in associates
Associates are entities over which the company has significant influence but not control, generally accompanying a
shareholding of between 20% and 50% of the voting rights. Investments in associates are accounted for using the equity
method of accounting and initially recognized at cost. Under the equity method, investments in associates are carried in the
Balance sheet at cost and adjusted for the company shares in the changes in the associates' net asset values.

Investments in other companies' capital

When the investments are less than 20% and the company does not enjoy a significant influence, then the value is stated at
cost which represents the fair value at the end of the year.

Investments in available for sale securities

Investments in securities available for sale at the balance sheet date at fair value (market value). Any temporary increase or
decrease in their values are reported under shareholders' equity (balance sheet statement) and classified under unrealized
gains or loss from investments. Any permanent decline in their values are reported as losses on investments in the income
statement ad deducted from the investment value.

Fair value are determined on the market value in case of marketable securities or based on the latest audited
financial statements of these investments otherwise the cost is considered to be the fair value of the investments.

Investments held to maturity

Investments purchased to be held to maturity are carried at cost (adjusted for premium or discount) less any other temporary
decline in value. These investments are classified as non-current assets with the exception of investments maturing within
the following twelve months.

Property investments
Property investments are stated at cost and a provision for impairment in value in the period in which the impairment is
specified, if any.

3-8 Accrued expenses & other credit accounts

Expenses that have been accrued and not yet paid are recognized, even if not invoices have been
raised by suppliers.

8
ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
CASH FLOW STATEMENT
As of December 31, 2015
(Expressed in Saudi Arabian Riyals)

3-9 Employees' terminal benefits

Provision is made for amounts payable In accordance with the employees contracts of employment
applicable to employees' accumulated periods of service at the balance sheet date based on accrual basis in
line with the general concept of the provisions of the Saudi Labor Law.

3-10 Zakat provision

The company is subject to zakat in accordance with the regulations of the Department of Zakat and Income
taxes (the "DZIT"). Provision for zakat for the company is charged to the income statement. Additional
amounts payable, if any, at the finalization of assessments are accounted for when such amounts are
determined. Zakat expenses are reported as a separate item in the income statement.

3-11 Revenues
Revenues are recognized upon delivery of products and customer acceptance, if any, or on the performance of
services. Revenues are shown net of expenses.

3-12 Cost of revenue

Cost of revenue includes the cost of raw materials, direct wages and operating expenses (direct and indirect)
related to production.

3-13 Expenses
Selling, marketing and general and administrative expenses include direct and indirect costs not specifically
part of production costs as required under generally accepted accounting principles. Allocations between
selling, marketing and general and administrative expenses and production costs, when required, are made of
on a consistent basis.

3-14 Impairement of non-current assets

Non-current assets are reviewed for impairment whenever events or changes in circumstances indicate that
the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the
carrying amount of the asset exceeds iths recoverable amount which is the higher of an assets fair value less
cost to sell and value in use. For the purpose of assessing impairment, assets are grouped at lowest levels for
which there are separately identifiable cah flows (cash-generating units). Non-current assets other than
intangible assets that suffered impairments are reviewed for possible reversal of impairment at each reporting
date. Where an impairment loss subsequently revereses, the carrying amount of the assets or cash-generating
unit is increased to the revised estimate of its recoverable amount, but the increased carrying amount should
not exceed the carrying amount that would have been determined, had no impairment loss been recognized
for the assets of cash-genrating unit in prior years. A reversal of an impairment losses recognized on
intangible assets are not reversible.

3-15 Statutory Reserve

In accordance with the company's regulations and article of association 10% of the net profit is annually
apporprated to form statutory reserve. The company's ordinary general assembly can cease such
appropration when such reserve reaches 50% of its capital.

3-16 Capital Reserve

Been re-evaluating some of the land by real estate company specializing and record the difference at the land
cost and capital reserve.
9
ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2015
(Expressed in Saudi Arabian Riyals)

3-17 Segments reporting

A segment is a distinguishable component of the company that is engaged either in providing products or
services(a business segment) or in providing products or services within a particular economic environment
(geographic segment).

3-18 Foreign currency transaction

Transactions in foreign currencies during the year are converted into Saudi Riyal at the rates of exchange
ruling on the date of transaction. Assets and liabilities denominated in foreign currencies at the balance
sheet date are translated into Saudi Riyals at the exchange rate ruling on that date. Differences are
accounted to relevant heads of statement income.

4 CASH AND CASH EQUIVALENTS

2015 2014
Cash in hand 1,058,280 207,750
Bank Balances 72,207,376 8,096,587
Short term bank deposits with maturities less than 3 months 220,000,000 100,000,000
Cash and Cash equivalents as of December 31 293,265,656 108,304,337

5 OTHER DEBIT BALANCES

2015 2014
Retention 49,836,580 68,280,408
Prepaid Expenses 9,557,380 6,248,449
Due from Employees 1,271,645 679,000
Others 15,625,426 5,009,095
Other debit balances on December 31 76,291,031 80,216,952

6 INVESTMENTS

Share in Equity
2015 2014
Investments 149,158,485 74,126,485
Total investments on December 31 149,158,485 74,126,485

10
ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
for the Year ended December 31, 2015
(Expressed in Saudi Arabian Riyals)

Furniture & Prefabricated Machinery & Tools & Tools &

Description Land Buildings Motor Vehicles Total 2015 Total 2014
Fixture Units Equipment Equipment Equipment

Cost of beginning of the year

275,953,900 18,916,025 121,061,449 4,961,618 344,200,824 117,959,862 28,463,937 - 911,517,615 863,195,209
Additions 27,327,500 4,642,693 19,257,562 14,705,086 26,023,792 22,229,094 2,002,802 901,581 117,090,110 48,322,406
Disposals - - - - - - - - - -
Cost of the end of the year 303,281,400 23,558,718 140,319,011 19,666,704 370,224,616 140,188,956 30,466,739 901,581 1,028,607,725 911,517,615
Accumulated depreciation at
beginning of the year - 11,757,655 39,075,045 30,775 97,765,171 70,306,904 15,998,612 - 234,934,162 206,933,893
Depreciation expressed for the
year disposals - 1,554,358 6,762,016 847,319 20,490,960 8,557,058 1,352,416 24,573 39,588,700 28,000,269
Accumulated depreciation at
the end of the year - - - - - - - - - -
Net book value - 13,312,013 45,837,061 878,094 118,256,131 78,863,962 17,351,028 24,573 274,522,862 234,934,162
December 31, 2015
303,281,400 10,246,705 94,481,950 18,788,610 251,968,485 61,324,994 13,115,711 877,008 754,084,863 676,583,453
December 31, 2014
275,953,900 7,158,370 81,986,404 4,930,843 246,435,653 47,652,958 12,465,325 - 676,583,453

11
ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2015
(Expressed in Saudi Arabian Riyals)

8 PROJECTS UNDER CONSTRUCTION

These projects under construction represent additions to buildings, warehouses and payments for
accounting programs

Movements to projects under study consists of the following:

2015 2014
Cost at beginning of the year 51,620,918 46,464,001
Additions 3,122,669 7,906,917
Transfer to fixed assets (6,583,936) (2,750,000)
Currency transfer differences
Cost at end of the year 48,159,651 51,620,918

9 OTHER CREDIT BALANCES

2015 2014
Accrued Expenses 1,192,019 1,055,918

Other credit balances on December 31 1,192,019 1,055,918

10 LONG TERM BORROWINGS

Banking facilities granted in exchange for waiver of the benefits in the decades to exporting the final
guarantee or financed by local banks and the acceptance of points of reference for this waiver, the
fundamentalist mortgage funds for investment in local shares.

11 EMPLOYEES' TERMINAL BENEFITS

2015 2014
Balance at beginning of the year 5,878,849 6,774,560
Paid during the year (5,945,036) (5,746,630)
Provisions for the year 6,532,059 4,850,919
Balance at end of the year 6,465,872 5,878,849

12
ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2015
(Expressed in Saudi Arabian Riyals)

12 CAPITAL

Total capital of the company as of year 2015, the amount of Saudi Riyal 1,000,000 (SR one million)
consisting of 10,000 shares (Ten thousand shares) with the value of Saudi Riyal 100 (SR Hundred)
distributed to the partners as following:

Name of Partner Share No. of

Total
value shares
Mr. Saleh Abdullah Ahmed Alsayed 100 5,000 500,000
Mr. Mohammed Abdullah Ahmed Alsayed 100 5,000 500,000
Total 10,000 ### 1,000,000

13 CAPITAL RESERVE

This item re-evaluation over the fair market value was carried out by specialized real estate company as
follows:

Ownership Owner's
Description Cost Estimate Variance Percentage Share
land 101,826,988 269,333,900 167,506,912 100% 167,506,912

101,826,988 269,333,900 167,506,912 167,506,912

14 COST OF REVENUE

2015 2014

Purchases 8,225,170 4,408,157

Labor wages 94,972,389 68,590,561
Operating expenses 162,548,325 190,682,211
Other Operating expenses 11,309,889 17,716,724
Fixed assets depreciation 32,826,684 23,752,739
309,882,457 305,150,392

13
ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2015
(Expressed in Saudi Arabian Riyals)

15 GENERAL AND ADMINISTRATIVE EXPENSES

2015 2014
Salaries and wages-administrative 12,495,071 11,712,326
Rent and housing allowance 744,556
Food allowance 234,586 196,322
Government fees 16,293,240 15,127,881
GOSI 5,321,072 3,585,806
Insurance & Medicine & treatments 4,728,532 3,256,035
Maintenance 846,964 1,863,022
Oil and fuel 2,308,904 1,478,548
Travel and accomodation 165,733 110,286
Tickets, vacations 4,556,019 4,850,919
Banks 152,698 742,793
Expenses workers 1,853,254 2,697,175
End of Service Benefits 6,307,395 6,117,822
Donations 1,697,734 1,425,000
Utilities 2,395,481 1,839,106
Stationery and publications 287,232 183,236
Training 211,331 150,524
Consumables 854,325 920,513
Others 74,215 594,512
Total 61,528,342 56,851,826

16 GAINS AND OTHER EARNINGS

2015 2014

Investment revenue and others 1,825,047 338,248

Total 1,825,047 338,248

17 APPROVAL OF FINANCIAL STATEMENTS

These financial statements have been approved by the Partners' on _______________

18 CONTINGENT LIABILITIES
The company's contingent liabilities with respect to letters of credit and bank guarantees amounted to
SR __________________ by the end of year 2015.

14
ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2015
(Expressed in Saudi Arabian Riyals)

19 SEGMENTS REPORTING
The company has one operational sector which is general contracting, building construction, electrical
and communications networks, mechanical, industrial and maintenance, operation and construction of
water and sanitation and to extend the pipeline, oil and transport, assembly and export of oil
hydrocarbons and the company operates mainly in the Kingdom of Saudi Arabia.

20 FINANCIAL COMMITMENTS
There are no financial commitments that the company has to declare as of December 31, 2015.

21 SUBSEQUENT EVENTS
The management believes that no material subsequent events that may affect the financial position of
the company had occurred since the end of 2015.

22 FINANCIAL INSTRUMENT AND RISK MANAGEMENT

Financial instruments carried on the consolidated balance sheet include cash and bank balances, Islamic
Murabaha and other assets, other liabilities, accrued expenses and other commitments.

22-1 Credit risk

The risk that one party will fail to discharge on obligation and will cause the other party to incur a
financial loss. The company has no significant concentration of credit risks. Cash and bank balances are
placed with national banks with sound credit ratings.

22-2 Interest rate risk

It is the exposure to various risks associated with the effect of fluctuations in the prevailing interest rates
on the company's financial position and cash flows. The company has no significant interest-bearing
assets at December 31, 2015.

22-3 Liquidity risk

It is the risk that an enterprise will encounter difficulty in raising funds to meet commitments associated
with financial instruments. Liquidity risk may result from the inability to sell financial asset quickly at an
amount close to its fair value. Liquidity risk is managed by the monitoring on a regular basis that sufficient
funds are available to meet the company's future commitments.

22-4 Currency risk

It is the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange
rates. The company's transactions are principally in Saudi Riyals, United States Dollars, British Pounds
and Euro and Bahraini Dinar. Management watching changes in foreign exchange rates and believes that
the currency risk is not materials.

15
ARABIAN FAL HOLDING COMPANY
(LIMITED LIABILITY COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2015
(Expressed in Saudi Arabian Riyals)

22-5 Price risk

The risk that the value of a financial instrument will fluctuate as a esult of changes in market prices,
whether those changes are caused by factors specific to the individual instrument or its issuers of factors
affecting all instruments traded in the market. The Group financial instruments are not exposed to price
risk.

22-6 Fair value

Fair value is the amount for which an asset could be exchanged, or a liability settled between
knowledgeable willing parties in an arm's length transaction. As the Group financial instruments are
compiled under the historical cost convention, except for derivative financial instruments which are
carried at fair values, differences can arise between the book values and fair value estimates.
Management believes that the fair values of the Group's financial assets and liabilities are not materially
different from their carrying values.

23 GENERAL
-The comparative figures are regrouped to bring them in line with current year classification.
-The figures of the financial statements are rounded to the nearest Saudi Riyal.

16