As The Securities House Company increased its ownership in Al-Aman Investment Company to reach 50% of its authorized and paid capital in accordance with the regulations set by the Capital Market Authority, therefore the company will reclassify its investment in accordance with International Financial Reporting Standards from being an investment in an associate to an investment in a subsidiary as of the end of the current year 2018.
The financial statements of Al Aman Investment co. will be consolidated in the consolidated financial statements of the Securities House Company and the minority interest will be presented separately in the equity statement and in the comprehensive income statement
In accordance with IFRS, An unrealized valuation difference, whether profit or loss, between the fair value and the carrying amount of the investment in the company will be recognized in the income statement of the Company and this difference in value will be determined at the end of the Audited financial statements preparation process for the year ended 31 December 2018.
