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GB Auto and its Subsidiaries (S.A.E)
Notes to the Consolidated Financial Statements
For the year ended 31 December 2012
(In the notes all amounts are shown in thousand Egyptian pounds unless otherwise stated)
85
GB Auto
•
2012 ANNUAL REPORT
b. Contingent Liabilities
There are contingent liabilities on the Group presented in letters of guarantee. The balance of the letters of grantee granted in Egyp-
tian Pounds, United States Dollars and Japanese Yen through it is regular operations, presented in EGP as follows:
2012
2011
USD
699,344
624,322
EGP
39,802
42,644
Japanese Yen
536
78
41. Capital commitments
The capital expenditure commitment at the balance sheet date reached EGP 43,332 thousands representing amounts to be paid for the
new production lines currently under construction.
42. Subsidiaries
The Group consolidated financial statements include the financial statements of the following subsidiaries.
Company
Percentage of ownership
RGI Investment S.A.E
100%
International Trade Agencies and Marketing Co. (ITAMCO) S.A.E
99.449%
Egyptian Vehicles Manufacturing Co. (Ghabbour Egypt) S.A.E
99.528%
Ghabbour Continental Trading Co. (GCT) S.A.E.
100%
GB Polo Buses Manufacturing S.A.E.
51%
Almora Recourses Co. S.A.E
100%
Haram Transportation Co. S.A.E.
99%
GB Company for capital lease S.A.E.
100%
Haram for Tourism S.A.E.
100%
GB Allab Company (Algerian Company)
51%
Microfinance consultancy Services “Mashro’ey” (S.A.E.)
85%
Universal Group for Trading (GK Auto)
50%
GB Logistics (S.A.E.)
99.98%
GB Capital (S.A.E.)
99%
Drive Automotive (S.A.E.)
90%
Drive Finance (S.A.E.)
90%
Ghabbour Al Kalam
68%