Eshraq Investments : Financials results for the nine-month period ended 30/09/2022- Q3 of year 2022;

ESHRAQ INVESTMENTS PJSC

Review report and condensed consolidated financial information for the nine-month period ended 30 September 2022

ESHRAQ INVESTMENTS PJSC

Review report and condensed consolidated financial information for the nine-month period ended 30 September 2022

	Pages
Report on review of interim financial information	1
Condensed consolidated statement of financial position	2 - 3
Condensed consolidated statement of profit or loss	4
Condensed consolidated statement of comprehensive income	5
Condensed consolidated statement of changes in equity	6
Condensed consolidated statement of cash flows	7 - 8
Notes to the condensed consolidated financial statements	9 - 39

Deloitte & Touche (M.E.)

Level 11, Al Sila Tower

Abu Dhabi Global Market Square

Al Maryah Island

P.O. Box 990

Abu Dhabi

United Arab Emirates

Tel: [phone]

Fax:[phone]

www.deloitte.com

REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION TO THE BOARD OF DIRECTORS OF ESHRAQ INVESTMENTS PJSC

Introduction

We have reviewed the accompanying condensed consolidated statement of financial position of

Eshraq Investments PJSC (the "Company") and its subsidiaries (together referred to as the "Group") as at 30 September 2022 and the related condensed consolidated statements of profit or loss, comprehensive income, changes in equity and cash flows for the nine-month period then ended and other explanatory notes. Management is responsible for the preparation and presentation of this interim financial information in accordance with International Accounting Standard (IAS) 34 Interim Financial Reporting. Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of review

We conducted our review in accordance with the International Standard on Review Engagements 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial information is not prepared, in all material respects in accordance with IAS 34 Interim Financial Reporting.

Deloitte & Touche (M.E.)

Mohammad Khamees Al Tah

Registration No. 717

10 November 2022

Abu Dhabi

United Arab Emirates

Akbar Ahmad (1141), Cynthia Corby (995), Georges Najem (809), Mohammad Jallad (1164), Mohammad Khamees Al Tah (717), Musa Ramahi (872), Mutasem M. Dajani (726), Obada Alkowatly (1056), Rama Padmanabha Acharya (701) and Samir Madbak (386) are registered practicing auditors with the UAE Ministry of Economy.

ESHRAQ INVESTMENTS PJSC					2
Condensed consolidated statement of financial position
at 30 September 2022
		30 September	31 December
		2022	2021
			AED'000	AED'000
	Notes		(unaudited)	(audited)
ASSETS
Non-current assets
Property and equipment	5	7,936	97,253
Investment properties	6	1,006,352	1,006,352
Financial assets at fair value through other comprehensive
income	8	42,840	73,469
Investment in an associate	14	-		8,285
Debt investment at amortised cost	9	-		18,274
Wakala investment	13	-		85,000
Other receivables		544	544
			-----------	-----------
Total non-current assets		1,057,672	1,289,177
			-----------	-----------
Current assets
Inventories		101	75
Trade and other receivables	11	8,311	18,700
Financial assets at fair value through profit or loss	10	1,692,350	268,472
Financial assets at fair value through other comprehensive
income	8	-		20,542
Debt investment at amortised cost	9	-		-
Due from a related party	23	450	19,816
Cash and bank balances	12	35,210	72,037
			-----------	-----------
Total current assets		1,736,422	399,642
			-----------	-----------
Assets held for sale	20	90,059	-
			-----------	-----------
Total assets		2,884,153	1,688,819
EQUITY AND LIABILITIES
Equity
Share capital	15	2,820,433	2,325,000
Share discount	1, 15	(623,283)	-
Treasury shares	15	(20,373)	(15,609)
Statutory reserve	16	-		141,125
Retained earnings/(accumulated losses)		476,543	(1,039,304)
Investment revaluation reserve	17	(47,830)	(47,957)
			-----------	-----------
Total equity		2,605,490	1,363,255
			-----------	-----------

The accompanying notes form an integral part of the condensed consolidated financial statements.