Page 53 - JTC-Annual Report-2025-Eng

JTC Logistics Transportation & Stevedoring Company K.S.C.P
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
As at December 31, 2025
(All amounts are in Kuwaiti Dinars)

The Group is in the process of assessing the impact of the above new standards on the
consolidated financial statements of the Group.

b) Current vs Non-Current Classification

The Group presents assets and liabilities in the consolidated statement of financial position
based on current / non-current classification.
An asset is current when it is:
▶ Expected to be realized or intended to be sold or consumed in the normal operating cycle

▶ Held primarily for the purpose of trading
▶ Expected to be realized within twelve months after the reporting period or

▶ Cash or cash equivalent unless restricted from being exchanged or used to settle a liability
for at least twelve months after the reporting period
A liability is current when:
▶ It is expected to be settled in the normal operating cycle

▶ It is held primarily for the purpose of trading
▶ It is due to be settled within twelve months after the reporting period or

▶ There is no unconditional right to defer the settlement of the liability for at least twelve
months after the reporting period
The Group classifies all other assets and liabilities as non-current.

c) Basis of Consolidation
The consolidated financial statements incorporate the financial statements of the Parent
Company and the following subsidiaries (collectively the “Group”):

Percentage of
holding
Country of
Name of the subsidiary incorporation Principal activities 2025 2024

Directly held by Parent Company:
Kuwait International Company for
the Wholesale of Light and Heavy State of Kuwait Carriage of goods 99% 99%
Equipment W.L.L. (ii)
JTC Heavy and Light Equipment Leasing vehicles and
and Machinery Leasing Company State of Kuwait equipment rental 99% 99%
W.L.L. (“JTCE”) (ii)
Carriage of cargo and
passengers, storage
Kingdom of
JTC Logistics Company L.L.C. (i) services and leasing 100% -
Saudi Arabia
of heavy and light
equipments

51 JTC LogisTiCs TransporTaTion & sTevedoring Company K.s.C.p.