Page 80 - 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)

8. INVESTMENT PROPERTIES

The movement during the year is as follows:

Leasehold
land (a) Wharehouse 2025 2024

Balance as at begininig of the year 3,837,000 8,085,000 11,922,000 7,877,537
Additions - - - 3,482,431

Changes in fair value 345,340 (153,000) 192,340 562,032
Balance as at end of the year 4,182,340 7,932,000 12,114,340 11,922,000

(a) Investment properties represent warehouse constructed on leasehold land from the Public
Authority for Industry which expires on September 8, 2029 and is renewable.

The amount of finance charges capitalized during the year amounted to KD Nil (2024: KD 82,925).
The fair value of the investment properties as of December 31, 2025, has been arrived at by
reference to industry acknowledged methods of valuation that depend on market data including
recent sales value of comparable properties. The fair value was determined based on the sale
comparison methods and is measured under Level 2 fair value hierarchy.
The management of the Group has complied with the Executive Regulations of Capital Markets
Authority with respect to guidelines for valuation of investment properties.
Leasehold land with a carrying value of KD 4,182,340 (2024: KD 3,837,000) are pledged against
term loan (Note 9).

9. LOANS AND BORROWINGS

2025 2024
Term loans (a) 9,147,816 4,330,000
Murabaha payables (b) - 4,980,030

9,147,816 9,310,030

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