Statement of Changes in Equity

For the year ended 31 December 2017

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  Issued and paid up share capital Treasury Shares Accumulated losses Investment revaluation reserve Statutory reserve Total equity
  AED AED AED AED AED AED
             
Balance as at 1 January 2016 120,000,000 (1,657,687) (18,044,823) (956,035) 1,710,148 101,051,603
Loss for the year (19,042,763) (19,042,763)
Other comprehensive income for the year 434,794 434,794
Transfer to retained earnings on disposal of investments at FVTOCI 946,788 (946,788)
Shares buyback (15,900) (15,900)
Shareholders’ equity at 31 December 2016 (Restated)
120,000,000
(1,673,587)
(36,140,798)
(1,468,029)
1,710,148
82,427,734
 
Balance as at 1 January 2017 120,000,000 (1,673,587) (36,140,798) (1,468,029) 1,710,148 82,443,734
Profit for the year 8,120,127 8,120,127
Other comprehensive income for the year 947,247   947,247
Transfer to retained earnings on disposal of investments at FVTOCI 1,241,920 (1,241,920)
Transfer to statutory reserve (812,013) 812,013
Shareholders’ equity at 31 December 2017
120,000,000
(1,673,587)
(27,590,764)
(1,762,702)
2,522,161
91,495,108